Welcome to our dedicated page for Phunware news (Ticker: PHUN), a resource for investors and traders seeking the latest updates and insights on Phunware stock.
Phunware, Inc. (NASDAQ: PHUN) is a trailblazer in the field of multiscreen as a service (MaaS), offering the only fully integrated services platform that enables brands to engage, manage, and monetize their users anytime, anywhere. As a leading software company, Phunware provides a cloud platform for mobile, offering essential products, solutions, and data services to help companies effectively interact with their mobile application audiences.
Phunware's core business revolves around its innovative mobile solutions that have redefined user engagement for some of the world's most respected brands. The company’s recent achievements include the launch of the Phunware Hospitality Solution, which has been adopted by PAL+, a prominent player in the Eastern Townships' hospitality industry. This solution enhances guest experiences through personalized mobile applications, offering context-aware notifications, content, and mapping functionalities for hotels, restaurants, and luxury cruise boats.
Phunware has also made significant strides in improving its financial condition. In the first quarter of 2024, the company achieved stability by raising cash through equity, paying off debt, and resolving litigation matters. This financial discipline will support continued strategic investments in sales and marketing.
Phunware’s mission is to foster an ecosystem where digital interactions enable more engaged and valuable experiences for all stakeholders. The company is poised to expand its software products and services audience, monetize its intellectual property, and reintroduce its digital asset ecosystem for new market participants.
Phunware is more than just a software provider; it is a partner in creating category-defining experiences that push the boundaries of advanced multiscreen devices. With its strong product, dedicated team, and strategic financial positioning, Phunware is well-equipped to continue making a global impact in mobile technology.
Phunware has released a comprehensive guide based on a survey of 780 U.S. travelers, revealing important insights about resort guests' digital preferences. The survey, conducted between August and September 2024, shows that 82% of guests believe mobile apps would improve their resort experience, while 77% prioritize personal data protection.
Key findings indicate that 83% of guests are likely to provide feedback via mobile apps, and 95% support real-time updates on activities. The study highlights that 64% of guests prioritize ease of booking, while 56% value booking convenience. Additionally, 65% of respondents believe mobile app engagement enhances their perception of a resort's commitment to guest experience.
Phunware (NASDAQ: PHUN) announced its participation in the 13th Annual ROTH Technology Conference at the Hard Rock Hotel in New York City on November 20, 2024. Interim Chief Executive Officer Stephen Chen will conduct one-on-one meetings with institutional investors during this invitation-only event.
The conference will take place at the Hard Rock Hotel, located at 159 W 48th St, New York. Interested institutional investors can schedule meetings through their conference representative or by contacting PHUN@mzgroup.us or Chris Tyson at (949) 491-8235.
Phunware (NASDAQ: PHUN) reported Q3 2024 financial results, showing improved net loss from continuing operations at $2.8 million ($0.25 per share) compared to $13.7 million ($5.72 per share) in Q3 2023. Operating cash burn decreased to $10.4 million from $14.6 million year-over-year. The company's cash position strengthened to $110 million as of November 6, 2024, boosted by ATM financing. Year-to-date software and subscription bookings increased 300% over the prior year. Recent developments include the appointment of Stephen Chen as Interim CEO and Rahul Mewawalla as Chairman, along with plans to acquire a controlling interest in MyCanvass,
Phunware (Nasdaq: PHUN) has appointed Rahul Mewawalla as Chairman of the Board, effective immediately. Mewawalla, who has served as a director since October 2021, will guide the leadership team and drive corporate strategy to accelerate expansion and innovation, particularly in generative AI, predictive analytics, and cloud-based services. The appointment aims to leverage his experience from Fortune 500 and Silicon Valley technology companies to enhance Phunware's growth initiatives.
Phunware (NASDAQ: PHUN) announces its upcoming Third Quarter 2024 financial results release scheduled for Thursday, November 7, 2024, after U.S. market close. The company will host a conference call at 4:30 p.m. ET to discuss quarterly results, recent leadership changes, ongoing initiatives, and upcoming milestones. The call will include management remarks followed by a Q&A session. U.S. participants can dial 1-888-506-0062 (international: 973-528-0011) using code 704558. A live webcast and replay options will be available, with the telephonic replay accessible until November 21, 2024.
Phunware (NASDAQ: PHUN) has signed a term sheet to acquire a controlling interest in MyCanvass, , a subsidiary majority owned by Campaign Nucleus, for $1.02 million in cash and stock. MyCanvass specializes in voter and advocacy engagement tools, including mobile apps. The acquisition will combine Phunware's enterprise cloud solutions with Campaign Nucleus's political campaign expertise to develop AI-powered canvassing tools. The partnership aims to enhance campaign effectiveness, enable real-time voter outreach, and support political and advocacy campaigns both within and outside the U.S.
Phunware (NASDAQ: PHUN) announced the retirement and resignation of CEO Michael Snavely, with former Board Chairperson Stephen Chen appointed as interim CEO effective October 22, 2024. The company is shifting focus towards generative AI, predictive analytics, and cloud-based services. As part of this transition, Phunware launched a new microsite (ai.phunware.com) dedicated to helping businesses and developers leverage generative AI and mobile app technologies. The company aims to strengthen its position in mobile and cloud-based solutions while expanding into AI-driven technologies.
Phunware, a leader in enterprise cloud solutions for mobile applications, has announced its participation in the LD Micro Main Event XVII. CEO Michael Snavely will present a corporate overview at the investment conference, which is scheduled for October 28-30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles.
Key details of the presentation include:
- Date: Wednesday, October 30, 2024
- Time: 11:30 AM PT (Track 3)
- Registration link: https://me24.sequireevents.com/
In addition to the presentation, CEO Michael Snavely and CFO Troy Reisner will be available for one-on-one meetings with registered investors attending the conference.
Phunware, Inc. (NASDAQ: PHUN) is set to showcase its Mobile Hospitality Solution at The Hospitality Show in San Antonio from October 7-10, 2024. The company will exhibit at Booth #139 in the Henry B. González Convention Center, introducing a fully-customizable and configurable mobile solution for events.
Phunware's solution aims to boost guest engagement and drive incremental revenue by enhancing the guest experience from pre-arrival to on-property activities. Key features include digital keys, push notifications, and on-property wayfinding. CEO Mike Snavely emphasized the platform's ability to provide personalized experiences and convenient access to essential services like contactless check-in and mobile ordering.
The Hospitality Show, produced by AHLA and Questex, serves as a forum for vendors, educators, and hospitality industry professionals to explore efficient and profitable hotel operations.
Phunware, Inc. (NASDAQ: PHUN) has issued a letter to stockholders from CEO Mike Snavely, providing an update on the company's performance and future plans. Key highlights include:
- Increased sales by two orders of magnitude in H1 2024 compared to H1 2023
- Lowered cash burn by more than half
- 939% growth in bookings for H1 2024 compared to H1 2023
- Announcement of a new generative AI-based platform for rapid mobile app development
- Plans to expand digital advertising capabilities and voter/advocacy engagement business
- Zero debt and adequate resources to support investments and growth
The company aims to launch its new AI-powered SaaS platform by mid-2025, targeting the global mobile app market expected to exceed $420 billion by 2028.
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