On August 8, 2024, Phunware, Inc., a mobile experience platform, reported its financial results for the second quarter ended June 30, 2024. The company announced a significant increase in software bookings, with a 623% rise in the second quarter and a 939% increase in the first half of 2024 compared to the same periods in the previous year. Revenue for the second quarter increased by 10% to $1.0 million from the first quarter of 2024, while operating expenses saw a 49% decrease to $3.4 million from $6.6 million in the second quarter of 2023. The net loss also declined by 60% to $2.6 million in the second quarter of 2024 compared to a net loss of $6.5 million in the same quarter of the previous year. The company highlighted early renewals with three of its largest customers and...Show More

On August 8, 2024, Phunware, Inc., a mobile experience platform, reported its financial results for the second quarter ended June 30, 2024. The company announced a significant increase in software bookings, with a 623% rise in the second quarter and a 939% increase in the first half of 2024 compared to the same periods in the previous year. Revenue for the second quarter increased by 10% to $1.0 million from the first quarter of 2024, while operating expenses saw a 49% decrease to $3.4 million from $6.6 million in the second quarter of 2023. The net loss also declined by 60% to $2.6 million in the second quarter of 2024 compared to a net loss of $6.5 million in the same quarter of the previous year. The company highlighted early renewals with three of its largest customers and the appointment of Paul Ruffino as a strategic advisor to boost growth in the hospitality sector. Phunware's CEO, Mike Snavely, expressed confidence in the company's momentum and the effectiveness of its sales team and model. The company also announced its addition to the FTSE Russell Microcap Index on June 28, 2024. The financial results were disclosed in a press release and will be further discussed in a live conference call.