Phunware Inc (NASDAQ:PHUN) has announced that its fiscal 2022 net revenues rose 105% year over year to $21.8 million, driven largely by its hardware business, which the company plans to expand further.
Phunware noted it generated $15.3 million in hardware revenues for the year, while also recording platform revenues of $6.5 million.
“We are thrilled to see increased interest from our channel partners, who we believe will be a key catalyst of accelerated bookings of our core software solution in 2023,” Phunware CEO Russ Buyse said in a statement.
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“Our senior management team remains laser-focused on ramping up our MaaS offering through several essential verticals, with a key focus on hospitality and healthcare,” he added.
As well, Buyse stated that Phunware helps brands enhance the consumer experience and the company expects to further extend its footprint in industry segments where Phunware’s products increase customer satisfaction and provide a strong return on investment for its clients.
The company also realized a net loss for the year of $50.9 million, or $0.51 per share, with a non-GAAP Adjusted EBITDA loss of $23.5 million.
Phunware is an award-winning, fully integrated enterprise cloud platform for mobile that provides companies with the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale.
Contact Sean at sean@proactiveinvestors.com