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Phunware boosts financial guidance for its Application Transactions business

The group now projects that non-recurring media transaction revenues will increase by more than 60% quarter-over-quarter

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The company also continues to see strong activity and engagement within government agencies and organizations

Phunware Inc (NASDAQ:PHUN), a fully integrated enterprise cloud platform for mobile, announced Wednesday that it has upwardly revised the financial guidance previously provided for its Application Transactions business. 

In a statement, the company said it now projects that its non-recurring media transaction revenues will increase by more than 60% quarter-over-quarter, with strong growth specific to new media sales wins on mobile.

Phunware said the majority of its Application Transactions business growth in the current quarter has largely been attributable to the travel industry, where the company has seen a 90% increase in campaign wins as more markets and geographies begin reopening from the coronavirus (COVID-19) pandemic shutdowns within the hospitality and real estate sectors. 

READ: Phunware clocks up $2.2 million in 2Q revenue as it looks ahead to accelerating revenues for rest of 2020

The company also continues to see strong activity and engagement within government agencies and organizations, including new customers such as California Operation Lifesaver (CAOL), which conducts its work on behalf of the Federal Railroad Administration and the Federal Highway Administration.

“California Operation Lifesaver has enjoyed and continues enjoying a great advertising relationship with Phunware,” Nancy Sheehan-McCulloch, executive director of CAOL said in a statement. “For us, it has been both a rewarding experience and a great value for our organization. As a non-profit, we are always looking for the best ways to get our message out and Phunware has greatly assisted us in identifying the most efficient media options for our messaging.”

She added: “The Phunware team is knowledgeable, professional, flexible and willing to go the extra mile to help us ensure that we get the best service, the best outreach for our ads and success with all our campaigns. Their follow-up and attention to detail are also extremely helpful, providing us with timely campaign results both during and after our media buys and campaigns with the public.”

Based on the positive campaign performance and results, Phunware said senior executives at CAOL have recommended the company for future mobile campaigns to an organization that controls budgets for the rest of the US. 

Google Firebase integration

Phunware also announced its newly approved integration with Google Firebase, Google's mobile application development platform. It gives advertisers and publishers leveraging both Phunware MaaS (multiscreen-as-a-service) Advertising and Google Firebase the ability to measure their campaign performance against conversion events from within their Firebase console, providing detailed data for driving enhanced insights, decision-making and improved campaign optimization worldwide.

Since its inception in 2009, Texas-based Phunware has helped brands of all sizes navigate the complex ecosystem of mobile and digital advertising, allowing customers to engage audiences and drive business outcomes and results for digital transformation. 

The company provides best-in-class mobile advertising software, tools and services, including expertise with media strategy and planning, mobile-first creative development, custom audience creation and campaign management and optimization, as offerings within its core MaaS enterprise cloud platform for mobile.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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