Phunware Engages Moneta Advisory Partners

Rhea-AI Summary

Phunware, Inc. (NASDAQ: PHUN) announced its collaboration with Moneta Advisory Partners to enhance its visibility as a leader in Data-Driven Consumer Engagement. Jon Najarian, co-founder of Moneta, emphasized the transformative potential of Phunware's data-driven platform and blockchain technology for enterprise clients. Phunware’s COO, Randall Crowder, highlighted a projected 250% YoY revenue growth in Q1 and Q2 of 2022, with an anticipated revenue target of at least $25 million. The company recently launched PhunToken (PHTK), aiming to broaden its reach in crypto and investor communities.

Positive

• Projected 250% Year-over-Year growth in Q1 and Q2 2022.
• Expected revenue target of at least $25 million for 2022.
• Launch of PhunToken (PHTK) to enhance market presence.

Negative

• None.

AUSTIN, Texas, May 02, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today it has engaged Moneta Advisory Partners, LLC, co-founded by Jon Najarian, to launch a multi-channel thought leadership program to expand awareness of the Company and its role as a pioneer in Data-Driven Consumer Engagement solutions.

“I have spent my career understanding capital markets and sharing my experience with others so they can more easily navigate market trends and learn about compelling companies,” said Jon Najarian. “Moneta is excited to work with Phunware to help market participants understand just how transformational their data-driven platform can be for enterprise clients and the role their blockchain technology can play in helping large brands better engage with consumers. The role of data in creative, powerful, cost-effective consumer engagement cannot be understated.”

Jon ‘DRJ’ Najarian was a linebacker for the Chicago Bears before he turned to another kind of a contact sport – trading on the Chicago Board Options Exchange. He became a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. In 1990 he founded Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE), which he sold in 2004 to Citadel, one of the world’s largest hedge funds. In 2005 Jon co-founded optionMONSTER and tradeMONSTER, sold a majority stake to private equity firm General Atlantic Partners in 2014 & two years later sold the firm to E*Trade for $750M. Today, he is a host on CNBC, a professional investor, money manager, stock & crypto markets analyst.   A prolific and sought-after speaker, Jon has emerged as a top thought leader in crypto, DeFi, and Web 3.0. Jon is also chairman of a technology SPAC, co-founder of Moneta Advisory Partners, LLC, and an investor and senior advisor to IDI Group, LLC (a multi-family office).

“Last year, revenues grew 50% from Q2 to Q3 and over 150% from Q3 to Q4, while this year, we’ve guided analysts to at least 250% YoY growth in both Q1 and Q2 with an expected target of at least $25M in revenue for 2022,” said Randall Crowder, COO of Phunware. “Coupled with a strong balance sheet and the recent launch of PhunToken (PHTK), we are at an inflection point and excited to work with industry luminaries like Jon to share the Phunware story more broadly across crypto, retail and institutional investor communities.”

Follow Jon Najarian on Twitter at @JonNajarian.

Safe Harbor Clause and Forward-Looking Statements
  
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

About Phunware, Inc.

Everything You Need to Succeed on Mobile — Transforming Digital Human Experience

Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (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. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com, https://phunwallet.com, https://phuncoin.com, https://phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.                 

Phunware PR & Media Inquiries:
press@phunware.com 
T: (512) 693-4199

Phunware Investor Relations:
Matt Glover and John Yi
Gateway Investor Relations
Email: PHUN@gatewayir.com
Phone: (949) 574-3860

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e7644e6-99a4-4a7f-b879-08dc77060f88

FAQ

What is Phunware's stock symbol?

Phunware's stock symbol is PHUN.

What are the projected revenues for Phunware in 2022?

Phunware has guided analysts to expect at least $25 million in revenue for 2022.

Who is partnering with Phunware for its marketing strategy?

Phunware has partnered with Moneta Advisory Partners to enhance its marketing and visibility.

What growth target has Phunware set for Q1 and Q2 of 2022?

Phunware has set a target for at least 250% Year-over-Year growth for Q1 and Q2 of 2022.