Quarterly ResultMay 11, 2026, 04:14 PM
Phunware Q1 Net Loss Narrows to $(3.19)M; Revenue Down 21.2%
AI Summary
Phunware reported a net loss of $(3.19) million for Q1 2026, a 14.2% improvement from $(3.72) million in Q1 2025. However, net revenue decreased by 21.2% to $0.54 million. The company's balance sheet saw a significant reduction in total liabilities, primarily due to the resolution of a legal settlement. Phunware continues to invest in AI, including generative, predictive, and agentic AI, to enhance its software platform and expects these investments to drive long-term growth, though profitability is not expected in the near future.
Key Highlights
- Net loss narrowed to $(3.19) million in Q1 2026, a 14.2% improvement YoY.
- Net revenue decreased 21.2% to $0.54 million for Q1 2026.
- Gross profit increased 7.0% to $0.38 million in Q1 2026.
- Operating loss improved 16.5% to $(4.02) million in Q1 2026.
- Total liabilities significantly decreased to $6.49 million from $24.55 million QoQ.
- Software subscriptions and services revenue fell 17.6% to $0.52 million.
- Bookings decreased 74.4% to $0.09 million for Q1 2026.
Price Impact
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