Phunware Inc (NASDAQ:PHUN) announced record second-quarter 2022 net revenue that surged 282% year over year to $5.5 million, with sequential improvements to its gross margins, as the company says it continues to invest in the business to further bolster its product offerings.
The enterprise cloud platform for mobile generated hardware revenues of $3.9 million and Multiscreen-as-a-Service (MaaS) platform revenue of $1.6 million during the period.
“After previously guiding investors to an upwardly revised top-line revenue growth exceeding 275% year-over-year for Q2, we are thrilled to have outperformed that target with a new second quarter record for reported revenues as a public company, delivering actual revenues exceeding 282% growth to close the first half of our fiscal year,” Phunware CEO Alan Knitowski said in a statement.
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“Importantly, and in tandem, we are reiterating our forward revenue guidance for 2022 of up roughly 250% year-over-year, or $25M. In parallel, we also expect that the back-end of 2022 will represent a new second half record for reported revenues as a public company for its comparable period,” Knitowski added.
Phunware also recorded a 2Q net loss per share of $0.17, which included a $0.12 per share impairment charge related to its digital assets.
Phunware is a pioneer of MaaS, an award-winning, fully integrated enterprise cloud platform for mobile that provides companies 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