Phunware Inc (NASDAQ:PHUN), the enterprise cloud platform for mobile engagement, reported progress in its AI-driven products and initiatives as it navigates a strategic focus on hospitality and healthcare sectors.
The company highlighted continued forward momentum in its sales pipeline and the ongoing development of its AI Concierge, a context-aware agent designed to enhance the guest journey with real-time wayfinding, Q&A, and property recommendations.
The AI Concierge is currently in pilot testing with a hospitality partner.
“We are highly focused on adding more AI-related features and functionalities within our current product offerings and are working with other customers to launch pilot testing programs for our AI Concierge,” said Jeremy Krol, Phunware’s Interim CEO.
“Expanding business and sales initiatives, including new sales consultants, are ramping momentum in our existing products and building interest in our upcoming AI features and functionalities.”
For the third quarter ended September 30, 2025, Phunware posted net revenue of $0.6 million, compared with $0.7 million a year earlier, while gross margin held at 46.1%.
The company narrowed its net loss to $2.4 million, or $0.12 per share, improving from $2.8 million, or $0.25 per share, in the prior-year period.
Phunware has also increased investments in brand and performance marketing, added senior marketing and product leadership, and is preparing to launch a refreshed website in the fourth quarter.
Operational cash outflow for the first nine months decreased to $9.3 million, supported by a cash balance of $103.8 million at quarter-end.