Quarterly ResultMay 7, 2026, 04:44 PM
Phunware Q1 2026 Revenue $0.5M (-21%); Net Loss $3.2M; Gross Margin 70.8%
AI Summary
Phunware, Inc. reported its first quarter 2026 financial results, with net revenue decreasing 21% to $0.5 million, while gross margin improved to 70.8% and net loss narrowed to $3.2 million. The company also saw a reduction in net cash used in operations and maintained a strong cash position of $97.9 million. Management highlighted strategic investments in product development, including the launch of new hospitality-specific offerings and the commercial release of its AI Concierge product, focusing on optimizing its portfolio for future commercial momentum.
Key Highlights
- Net revenue decreased 21% to $0.5 million in Q1 2026 from $0.7 million in Q1 2025.
- Gross margin improved to 70.8% in Q1 2026, up from 52.2% in Q1 2025.
- Net loss improved to $3.2 million in Q1 2026, compared to $3.7 million in Q1 2025.
- Net loss per basic and diluted share was ($0.16) in Q1 2026, an improvement from ($0.18) in Q1 2025.
- Net cash used in operations decreased to $2.7 million for Q1 2026 from $3.3 million in the prior year.
- Cash and cash equivalents totaled $97.9 million as of March 31, 2026.
- Introduced two new hospitality-specific products and launched a redesigned corporate website.
- Advanced AI Concierge product from pilot to commercial release, integrating generative AI with mapping technology.