PHUN - NASDAQ

Phunware, Inc.

Phunware, Inc.

PHUN·NASDAQ

$2.57

+0.0000%
TechnologySoftware - Application

Phunware, Inc., together with its subsidiaries, offers integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include cloud-based mobile software that licenses in software development kits (SDKs) form utilized inside mobile applications, such as analytics that provides data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services that include mapping, navigation, wayfinding, workflow, asset management, and policy enforcement. It also engages the integration of its SDK licenses into existing applications maintained by its customers, as well as custom application development and support services; provision of cloud-based vertical solutions for healthcare, retail, sports, aviation, real estate, hospitality, education, and other applications; offering application transactions, including re-occurring and one-time transactional media purchases for application discovery, user acquisition and audience building, audience engagement, and audience monetization; and pre-packaged and custom high-end personal computer systems for gaming, streaming, and cryptocurrency mining enthusiasts. The company was founded in 2009 and is headquartered in Austin, Texas.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$51.88M
EPS-0.1600
P/E Ratio-5.08
Earnings Date11/06/2025

Earnings Call Transcript

PHUN • 2024 • Q1

Mike Snavely
Thank you, Troy. We appreciate the patience and continued support from our shareholders as we continue to turn the company around. We're off to a great start in '24, and we're looking forward to continuing -- to deliver for you. I'd like to open up the call now for questions through the operator. Operator, please go ahead.
Operator
[Operator Instructions] And the first question today is coming from Darren Aftahi from ROTH MKM.
Unknown Analyst
This is [ Don ] on for Darren. First, I wanted to start with the comment you made about your bookings in Q1, roughly 60% this year compared to all of last year. I guess, could you talk -- it's a bit of a 2-part question. How much of that is from existing sort of expansions and renewals? I know you've announced a few renewals recently versus net new logos?
Mike Snavely
Sure. This is Mike. Thanks for the question. It's very roughly 50-50 between the renewal of existing business and then brand new logo wins. We have new logo wins from major hospitality brands, a significant one from an independent. And certainly, the renewal of some of our tentpole customers who have been with us for some time.
Unknown Analyst
Got it. And I mean, sort of what is the time line you think for turning on some of those customers from sort of when you go from bookings to actual revenue generation?
Mike Snavely
Sure. Our implementation time frame is roughly 30 days.
Unknown Analyst
Got it. And then if I could maybe ask 2 more. First on the monetization of the patents. Do you have -- any color you could provide on sort of what that might look like, what sort of opportunities you're going after? And then maybe when you'd be able to sort of go out to the market to sort of express sort of what you're working on and when it might be able to roll out? Whether that's with existing products or net new products?
Unknown Analyst
Got it. And last one maybe for Troy. I appreciate the color on sort of what you think the year can look like in the back end specifically. Any color you could provide on sort of the shape of margins in the mid-50s where they were in Q1? Or is there some investment that has to take place that may push those down on the gross margin side at least?
Troy Reisner
Thanks for the question. I think the margins are going to continue to be in the range that we saw in Q1. Given quarter's margin might ebb and flow in terms of timing of revenue, cost recognition and things like that. But in a similar vein as to what you're seeing in Q1 is what we would expect for the balance of the year.
Operator
The next question is coming from Scott Buck from H.C. Wainwright.
Scott Buck
First, I saw you made a hire on the hospitality side. I was hoping you could give a little color on the hire and maybe some of the additional investments you may be making in that vertical.
Scott Buck
Great. That's helpful. And just as a bit of a follow-up, what's a reasonable time line for investors to expect to see some tangible progress in the vertical?
Operator
The next question is coming from Howard Halpern from Taglich Brothers.
Howard Halpern
Congratulations on the start to the year. In the press release in the supplemental information, how should we look at as you grow revenues, the breakdown between subscription and services and application transaction going forward, especially with a lot of the action occurring in the second half of the year.
Mike Snavely
Sure. It's Mike again. And let me speak to that, Howard. So we're focusing very much on our SaaS business. And so that's 1 to 3-year contracts for a software license fee. We do have an application transactions business, which is reoccurring, not necessarily recurring from the standpoint of our renewal revenue. That's going to be largely the same with -- probably a slight increase in '24 over '23, but we're very much focused on growth in the SaaS business. When I think about services, and that's really just work for hire services or onetime project work, that will be a very trivial amount of our revenues moving forward.
Operator
And the next question is coming from Ed Woo from Ascendiant Capital.
Edward Woo
My question is on the competitive environment, have you seen any change in competition? And how do you think the sales cycle is going to go throughout this year?
Edward Woo
Great. Well, congratulations on our progress, and I wish you guys good luck.
Mike Snavely
Thanks, sure.
Transcript from May 9, 2024

Other Transcripts

 

phun Earnings Call Transcripts

PHUN
View Financials All Transcripts

Related Guides

Blog Categories

Continue your PHUN research with focused valuation guides.

Forecasting

Compare management guidance with modeled outcomes.

Risk Analysis

Track estimate risk, misses, and downside scenarios.

Reference

Review analyst process and transcript interpretation.

Value Investing

Anchor quarterly narrative to intrinsic value discipline.

Research Paths

Pick your next lens
1

Snapshot

Start with context, operating signals, and key market metrics.

2

Value Model

Stress test fair value across bear, base, and bull assumptions.

3

Statements

Validate revenue quality, margins, and balance sheet durability.

4

Earnings Call

Read management commentary and compare it with reported outcomes.

5

Dividends

Check payout sustainability and long-term distribution behavior.

6

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.