Phunware, Inc. (PHUN) AI Stock Analysis
PHUN AI stock analysis summary
AI ResearchPhunware, Inc. (PHUN) is a mobile software platform provider with a market capitalization of $41.7M. Annual revenue fell from $10.6M in FY2021 to $2.6M in FY2025, representing a 5-year revenue CAGR of -23.9%. Despite continued operational losses, the company held $92.1M in cash and short-term investments with total debt of $452,998 as of June 30, 2026.
- Market cap
- $41.7M
- Revenue (TTM)
- $2.8M
- P/E
- —
- 1Y return
- -25.3% S&P 500 16.8%
- Avg. target
- $2.00 -2.0% vs last close
Bull case
- Phunware held $92.1M in cash and short-term investments against total debt of $452,998 as of June 30, 2026.
- Quarterly revenue grew 75.6% year-over-year in the latest quarter ended June 30, 2026.
- Gross margin expanded to 50.6% in FY2025 from 33.9% in FY2021.
Bear case
- Annual revenue contracted at a 5-year CAGR of -23.9% from FY2020 through FY2025, reaching $2.6M in FY2025.
- Operating margin was -803.7% in FY2025 and remained negative at -757.1% over the trailing twelve months.
- Free cash flow remained negative at -$12.5M in FY2025 following -$13.3M in FY2024.
What Phunware does
Phunware, Inc. provides an integrated cloud-based software platform that helps companies manage and monetize mobile applications. The company offers software development kits (SDKs) embedded in mobile apps to deliver analytics, content management, and messaging. It also delivers location-based services such as mapping, navigation, and asset management for industries including healthcare, retail, sports, aviation, real estate, hospitality, and education. Additionally, Phunware offers custom application development, support services, and application transaction services, alongside tailored high-performance computing systems for gaming, streaming, and cryptocurrency mining.
Growth and profitability
Annual revenue decreased over five consecutive years, falling from $10.6M in FY2021 to $6.5M in FY2022, $4.8M in FY2023, $3.2M in FY2024, and $2.6M in FY2025. Gross margin was 50.6% in FY2025, compared to 33.9% in FY2021. Operating margin remained negative at -803.7% in FY2025, alongside net income of -$11.4M and EPS of -$0.56. For the trailing twelve months ended June 30, 2026, revenue was $2.8M, operating margin was -757.1%, and EPS was -$0.65. In the latest quarter ended June 30, 2026, quarterly revenue grew 75.6% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, Phunware reported $92.1M in cash and short-term investments against total debt of $452,998, resulting in net cash of $91.7M. Total assets were $93.5M and shareholders' equity was $88.5M. The current ratio was 19.84, and the debt-to-equity ratio was 0.01. Free cash flow was -$12.5M in FY2025, matching an operating cash flow of -$12.5M. Over five years, the company's share count change was -78.9%.
Valuation and performance
Phunware trades at a price-to-sales multiple of 15.2x and an EV-to-revenue multiple of 4.3x, with an enterprise value of -$51.2M. In comparison, the median of its US-listed Technology peers is 2.8x for price-to-sales and 16.6x for EV-to-EBITDA. Phunware's price-to-book ratio is 0.5x. Over the past year, the stock fell 25.3%, while the S&P 500 (SPY) returned 16.8%. Over a 5-year period, Phunware declined 96.0% compared to an 83.0% gain for the S&P 500.
What analysts expect
The consensus mean price target is $2.00, representing -2.0% versus the last close of $2.04 on October 16, 2026. For the fiscal year ending December 31, 2026, the EPS estimate is -$0.57, reflecting an estimated EPS growth of 6.9%, while revenue estimates for both the current and next fiscal years are $0. Phunware beat EPS estimates in 3 of the last 4 quarters. The next earnings date is scheduled for November 5, 2026.
Key risks and what to watch
- Operating cash outflow was -$12.5M in FY2025, reflecting persistent operational cash burn.
- The stock has a beta of 2.63 and has declined 96.0% over the trailing 5-year period.
- Consensus revenue estimates for both the current and next fiscal years are $0.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this PHUN AI stock analysis
This page is an AI-written research summary of Phunware, Inc. (PHUN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: PHUN income statement, PHUN balance sheet, PHUN key metrics, PHUN analyst forecast, PHUN chart. See the PHUN stock overview for the latest quote and news.
PHUN AI stock analysis FAQ
What is Phunware's cash position?
As of June 30, 2026, Phunware held $92.1M in cash and short-term investments and total debt of $452,998, resulting in net cash of $91.7M and a current ratio of 19.84.
How has Phunware's revenue performed over time?
Revenue fell from $10.6M in FY2021 to $2.6M in FY2025, representing a 5-year CAGR of -23.9%. However, quarterly revenue increased 75.6% year-over-year in the quarter ended June 30, 2026.
Does Phunware pay a dividend?
No, Phunware does not pay a dividend.
What is the consensus analyst price target for PHUN?
The mean analyst price target is $2.00, which is 2.0% below the last close of $2.04 on October 16, 2026.
When does Phunware report its next earnings?
Phunware's next earnings date is November 5, 2026.