AI Earnings Predictions for Phunware Inc. (PHUN)

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Phunware Reports First Quarter 2026 Financial Results

Management Expected to Host Investor Webinar in Conjunction with Upcoming Product Announcements & Display at HITEC North America 2026, World’s Largest Hospitality Technology Conference

AUSTIN, Texas – May 7, 2026 – Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today reported financial results for the first quarter ended March 31, 2026.

Financial Highlights

• Net revenue decreased 21% to $0.5 million in Q1 2026, as compared to $0.7 million in Q1 2025.

• Gross margin improved to 70.8% in Q1 2026, as compared to 52.2% in Q1 2025.

• Net loss improved to $3.2 million in Q1 2026, as compared to a net loss of $3.7 million in the previous year period.

• Net loss per basic and diluted share was ($0.16) in Q1 2026, as compared to ($0.18) per basic and diluted share in Q1 2025.

• Net cash used in operations decreased to $2.7 million for the three months ended March 31, 2026, as compared to $3.3 million for the previous year period.

• Cash and cash equivalents totaled $97.9 million as of March 31, 2026.

Recent Business Highlights

• Introduced two hospitality specific products, one for luxury brands and the other for full-service independent property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates and a range of solutions for enhancing on-property guest experiences and engagements and ancillary revenue growth.

• Launched a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues.

• Continued investment in artificial intelligence (“AI”) to employ and integrate within our internal systems and product and services offerings.

• Continued development and release of our AI Concierge product, which is designed to personalize customer guest journeys through real-time wayfinding, Q&A and on-property recommendations.

• Final settlement and dismissal of legacy legal proceedings in early 2026.

Management Commentary

"The first quarter reflects a Company executing with focus and discipline," said Jeremy Krol, Interim CEO of Phunware. "During the quarter, we concentrated on tightening the product foundation that our commercial growth depends on. This included productizing our hospitality offering into two purpose-built tiers, advancing AI Concierge from pilot to commercial release, refining our portfolio to better address the needs of large-scale hospitality and healthcare property customers and ramping up AI-related research and development to evolve our platform and products for the next iteration. We focused on optimizing our product offering in lieu of near-term bookings velocity, and we believe this will position Phunware for higher-quality commercial momentum and ultimately achieving our strategic vision.

"We productized our hospitality product offering into two distinct tiers that address what we believe are the most acute economic challenges facing large-scale hotels and resorts: capturing ancillary guest revenue and operating coherently across complex on-property environments. Research published by our team found that approximately 35% of guest spending at these properties occurs after check-in, representing a meaningful ancillary guest revenue opportunity that we believe goes largely uncaptured today. By anticipating guest needs and reducing friction at every guest touchpoint, mobile engagements shift the guest experience from reactive to proactive, while growing revenue per guest.

"Our Luxury Engagement tier delivers fully personalized digital guest experiences anchored by Phunware's deep wayfinding capabilities. It is designed to anticipate guest needs and reinforce premium brand identity at every touchpoint. Our Enriched Experience tier delivers guest engagements through curated digital touchpoints that surface guest services, amenities, events and other on-property discovery. It is designed to extend core services into more dynamic interactions and create new guest revenue opportunities for property operators. Both tiers are designed to deepen guest relationships while expanding monetization for our customers.

"AI Concierge, our generative AI module embedded within Phunware mobile applications, is now commercially available following a successful pilot. Unlike conventional chatbots, AI Concierge is integrated with our proprietary mapping technology, providing context-aware responses and live blue-dot wayfinding directly to rooms or on-property amenities and events. This fusion of conversational AI and spatial intelligence is a meaningful differentiator for Phunware, and we are actively selling this module to new and existing customers. We are taking a measured, customer-collaborative

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Phunware Reports Fourth Quarter and Full Year 2025 Financial Results

Evolution to Focus on Hospitality and Related Markets, Steady Product Revenue, Customer Growth and Expanding Leadership Team

Exits FY25 with Strong Cash Position to Accelerate AI Platform and Products and New Corporate Initiatives

AUSTIN, Texas – March 18, 2026 – Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today reported financial results for the fourth quarter and year ended December 31, 2025.

Financial Highlights

• Net revenue increased 33% to $0.8 million in Q4 2025, as compared to $0.6 million in Q4 2024.

• Gross margin improved to 57.7% in Q4 2025, as compared to 23.3% in Q4 2024, a 3,443 basis point improvement.

• Net loss improved to $2.1 million in Q4 2025, as compared to a net loss of $2.6 million in the previous year period.

• Net loss per basic and diluted share was ($0.11) in Q4 2025, as compared to ($0.15) per basic and diluted share in Q4 2024.

• FY 2025 net revenue decreased to $2.6 million from $3.2 million in FY 2024.

• FY 2025 gross margin increased 500 basis points to 50.6%, as compared to 45.6% in the prior year period.

• FY 2025 net loss was $11.4 million, or ($0.57) per basic and diluted share, compared to a net loss of $10.3 million, or ($0.94) per basic and diluted share in FY 2024.

• Net cash used in operations decreased to $12.5 million for the year ended December 31, 2025, as compared to $13.3 million for the previous year period.

• Cash and cash equivalents totaled $100.6 million as of December 31, 2025.

Recent Business Highlights

• Introduced two hospitality specific products, one for luxury brands and the other for full-service independent property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates and a range of solutions for enhancing on-property guest experiences and engagements and ancillary revenue growth.

• Launched a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues.

• Continued investment in artificial intelligence (“AI”) to employ and integrate within our internal systems and product and services offerings.

• Continued development and release of our AI Concierge product, which is designed to personalize customer guest journeys through real-time wayfinding, Q&A and on-property recommendations.

• Announced election of Ed Lu to the Board of Directors, bringing financial, strategic and operational leadership experience to guide the Company's finance and technology strategy and customer initiatives.

• Appointed Elliot Han, a director of the Company since 2024 with experience in corporate finance and investments in digital asset companies, as Chairperson of the Board of Directors.

• Appointed Jeremy Krol, our Interim CEO, to the Board of Directors.

Management Commentary

“The decrease of approximately $0.6 million in revenue from fiscal year 2024 to fiscal year 2025 was the result of a softening advertising market, but this was positively offset by growth in our software business. Moreover, net revenue increased 33% to $0.8 million in Q4 2025, as compared to $0.6 million in Q4 2024. The fourth quarter of 2025 and early 2026 reflects the ongoing evolution of our pioneering capabilities and forward-thinking approach to mobile software products and solutions that focus on the multi-billion-dollar hospitality market,” said Jeremy Krol, Interim CEO of Phunware. “We believe our platform and products can fundamentally change the economics of large hotels and resorts and deliver the most value to customers and shareholders.

"We recently introduced two hospitality-specific product tiers designed to align our platform with the distinct needs of different property segments. Our Luxury Engagement tier is built for premium hospitality brands. It delivers fully personalized digital guest experiences anchored by Phunware's deep wayfinding capabilities, serving as a branded, immersive companion for guests throughout the on-property journey. It is designed to anticipate guest needs, enhance discovery, and reinforce the brand's premium identity at every touchpoint. Our Enriched Experience tier is built for full-service independent properties. It delivers guest engagement through curated digital touchpoints that drive on-property discovery and surface amenities and events, extending core services into more intelligent, dynamic guest interactions to create new revenue opportunities for property operators. Both tiers are designed to deepen guest relationships while expanding monetization opportunities for property operators.

"We continue to invest in artificial intelligence across our internal operations and products. We note that IDC

8-K

false000166530000016653002025-11-062025-11-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 06, 2025

Phunware Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware

001-37862

30-1205798

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1002 West Avenue

Austin, Texas

78701

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 512 693-4199

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

PHUN

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Current Report on Form 8-K (this “Report”) includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this Report, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Report are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” may not be exhaustive.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statement