Phunware, Inc.

Phunware, Inc. announced an inducement grant to Dmitry Kroshka in connection with his employment as the new Chief Executive Officer, effective May 13, 2026. The grant, made under the Phunware, Inc. 2026 Inducement Plan, includes 105,820 time vested restricted stock units, 317,460 performance vested restricted stock units, and a stock option for 105,820 shares at an exercise price of $5.00. The awards are subject to various vesting schedules and performance conditions.

Phunware announced the appointment of Brent McMahan, a hospitality technology veteran, as Senior Director of Sales to lead its expanding sales efforts. The company will showcase enhancements to its Guest Intelligence Platform at HITEC North America 2026, including live demonstrations of its AI Itinerary Builder and a preview of its Location-Aware Data Layer. Phunware also reported strong guest engagement with its AI Concierge module, exceeding internal forecasts by approximately 40% since its commercial release in January 2026. These strategic moves aim to boost guest engagement and ancillary revenue for hospitality clients.

Phunware, Inc. announced the appointment of Dmitry Kroshka as its new Chief Executive Officer, effective immediately, to lead the company's 2.0 Strategy. Concurrently, the company entered into a Master Software and Services Agreement with Build Something LLC for software development, including the Apollo 2.0 Program, with project fees up to $3,559,200. Phunware also engaged Michael Cerdá's Build Something Product Group (BSPG) to drive product strategy and the Product 2.0 rollout. These strategic moves aim to accelerate the development and commercialization of Phunware's next-generation Guest Intelligence Platform across hospitality, healthcare, and large-property environments.

Phunware, Inc. announced a leadership transition and product strategy update to accelerate its 2.0 Strategy. Dmitry Kroshka has been appointed Chief Executive Officer, effective immediately, with Jeremy Krol returning to his Chief Operating Officer role. The company also engaged Build Something Product Group (BSPG), led by Michael Cerdá, to strengthen its product strategy and rollout. These changes aim to expand Phunware's next-generation Guest Intelligence Platform across hospitality, healthcare, and large-property verticals, leveraging strong AI Concierge momentum, over 95% customer retention, and a robust cash position.

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.

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.

Phunware, Inc. filed an amendment to its executive employment agreement with Interim Chief Executive Officer Jeremy Krol. Amendment No. 1, executed on January 14, 2026, extended Mr. Krol's initial term as Interim CEO to April 15, 2026. His original agreement, effective July 14, 2025, had an initial term of six months, renewable for 30-day periods. This filing updates the terms of his interim leadership.