Phunware, a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced its second-quarter financial results. The company’s net revenues for the quarter has reached $2.2 million, while platform subscriptions and services revenues were $2.0 million.
1,500 basis points to year-over-year
Phunware is pleased to see an improvement of nearly 1,500 basis points to the year-over-year gross margin as we continue to focus on our higher-margin longer-term software customers” according to Matt Aune, CFO of Phunware.
Alan S. Knitowski, President, CEO and Co-Founder of Phunware, said,
Alan S. Knitowski, President, CEO and Co-Founder of Phunware
“Our latest quarter closed with nearly $10 million in Backlog and Deferred Revenue for our Multiscreen-as-a-Service (MaaS) platform, while most of our corporate customers remained in either a lockdown or remote, work-from-home operational status. While we do not expect our customers or partners to be back to normal operations until a COVID-19 vaccine becomes widely available, we are already seeing much more business activity with each passing week and month and believe that there is a lot of pent up demand tied to pending MaaS bookings that will be released throughout the balance of the year.”
Product updates:
Executed Agreement with Humm Systems to Improve User Feedback and Real-Time Intervention on Mobile
Launched RAPID – A Mobile Application Solution for Small and Midsize Businesses
Received TRUSTe Data Collection Certification from TrustArc
Tech-Enabled a Safer Return to Higher Education Institutions with Smart Campus Solution
Announced Issuance of United States Patent Covering Enterprise Branded Application Frameworks for Mobile and Other Environments
Enabled Safer Gatherings with New “Healthy Spaces” Mobile App
Seda Nur Cinar is the news editor of the Cloud7 News. With more than 8 years of Linux and cloud experience, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.
