Intelligence platform Phunware Q2 revenue rises on contract termination
PHUN•Loss widens as investment increases
Net loss widened as the company increased investment in product, sales, and R&D.
The company did not provide specific financial guidance for the current or future periods.
AI Concierge engagement and analyst coverage
The company reported strong commercial momentum and engagement metrics for AI Concierge following its launch.
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the software peer group is "buy"
- Wall Street's median 12-month price target for Phunware Inc is $3.00, about 40.8% above its August 7 closing price of $2.13
Q2 revenue rises on early contract termination
US guest intelligence platform's Q2 revenue rose 76% yr/yr, driven by early contract termination.
Gross margin expanded to 69% from 41.8% in the prior-year period.
