Phunware Q3 EPS $(0.06) Up From $(0.14) YoY, Sales $5.6M

Third Quarter 2019 Financial Highlights Net revenues increased 8% year-over-year to $5.6 million Platform subscriptions and services revenue increased 19% year-over-year to $5.2 million Gross margin was 57.1%,

Benzinga · 11/14/2019 21:33

Third Quarter 2019 Financial Highlights

  • Net revenues increased 8% year-over-year to $5.6 million
  • Platform subscriptions and services revenue increased 19% year-over-year to $5.2 million
  • Gross margin was 57.1%, representing 9.0 percentage points higher than the prior year
  • Net loss was ($2.4) million, an improvement of $1.1 million year-over-year
  • Net loss per share improved $0.08 per share to ($0.06) compared to ($0.14), a 57% improvement year-over-year
  • Non-GAAP adjusted EBITDA loss improved $1.7 million to ($1.5) million, an improvement of 53% year-over-year
  • Net cash used in operating activities for the quarter was ($33) thousand, which represented a 98% lower quarter-over-quarter improvement