Consolidated Balance Sheets(In thousands, except share and per share data) March 31, December 31, 2025 2024 Assets:(Unaudited) Current assets: Cash and cash equivalents$109,719 $112,974 Accounts receivable, net of allowance for credit losses of $264 and $166 as of March 31, 2025 and December 31, 2024, respectively 697 276 Digital currencies 82 103 Prepaid expenses and other current assets 588 406 Total current assets 111,086 113,759 Non-current assets: Property and equipment, net 20 24 Right-of-use asset 770 840 Other assets 158 158 Total non-current assets 948 1,022 Total assets$112,034 $114,781 Liabilities and stockholders' equity Current liabilities: Accounts payable$4,073 $3,754 Accrued expenses 492 148 Deferred revenue 1,124 1,034 Lease liability 320 313 PhunCoin subscription payable 1,202 1,202 Total current liabilities 7,211 6,451 Deferred revenue 660 528 Lease liability 537 619 Total noncurrent liabilities 1,197 1,147 Total liabilities 8,408 7,598 Commitments and contingencies (See Note 7) - - Stockholders' equity Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 20,180,875 shares issued and 20,170,745 share outstanding as of March 31, 2025 and 20,166,665 shares issued and 20,156,535 shares outstanding as of December 31, 2024 2 2 Treasury Stock (502) (502)Additional paid-in capital 421,169 421,003 Accumulated deficit (317,043) (313,320)Total stockholders' equity 103,626 107,183 Total liabilities and stockholders' equity$112,034 $114,781 Phunware, Inc.
New Customer Launches Drive 40% Revenue Growth for Software Subscriptions and Services Strong Balance Sheet of $109.7 Million Powering R&D Activities in AI-Driven Customer Platform and Corporate Initiatives AUSTIN, Texas, May 12, 2025 (GLOBE NEWSWIRE) -- Phunware, Inc.("Phunware” or the "Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, today reported financial results for the first quarter ended March 31, 2025.
The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies. US-GAAP NET LOSS TO ADJUSTED EBITDA RECONCILIATION(Unaudited) Three Months Ended March 31, (in thousands) 2025 2024 Net loss $(3,723) $(2,292)Add back: Depreciation 4 4 Add back: Interest expense 9 108 Less: Interest income (1,119) (140)EBITDA (4,829) (2,320)Add back: Stock-based compensation 86 630 Less: Gain on extinguishment of debt - (535)Adjusted EBITDA $(4,743) $(2,225) About Phunware Phunware, Inc.(NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities.
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