Revenue: As of FY2026 Q1, the actual value is USD 542 K, missing the estimate of USD 702 K.EPS: As of FY2026 Q1, the actual value is USD -0.16, beating the estimate of USD -0.17.EBIT: As of FY2026 Q1, the actual value is USD -4.87 M.<h4>Financial Highlights (Q1 2026 vs. Q1 2025)</h4><ul><li>Net revenue decreased 21% to $0.5 million in Q1 2026, compared to $0.7 million in Q1 2025.</li><li>Gross margin improved to 70.8% in Q1 2026, compared to 52.2% in Q1 2025.</li><li>Net loss improved to - $3.2 million in Q1 2026, compared to a net loss of - $3.7 million in the previous year period.</li><li>Net cash used in operations decreased to - $2.7 million for the three months ended March 31, 2026, compared to - $3.3 million for the previous year period.</li><li>Cash and cash equivalents totaled $97.9 million as of March 31, 2026.</li></ul><h4>Operational Metrics (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Cost of revenue was $158 thousand in 2026, down from $329 thousand in 2025.</li><li>Gross profit increased to $384 thousand in 2026, from $359 thousand in 2025.</li><li>Operating expenses:<ul><li>Sales and marketing expenses decreased to $825 thousand in 2026, from $896 thousand in 2025.</li><li>General and administrative expenses decreased to $2,703 thousand in 2026, from $3,464 thousand in 2025.</li><li>Research and development expenses increased to $878 thousand in 2026, from $813 thousand in 2025.</li></ul></li><li>Total operating expenses decreased to $4,406 thousand in 2026, from $5,173 thousand in 2025.</li><li>Operating loss improved to - $4,022 thousand in 2026, from - $4,814 thousand in 2025.</li><li>Interest income decreased to $857 thousand in 2026, from $1,119 thousand in 2025.</li><li>Interest expense remained consistent at - $9 thousand in both 2026 and 2025.</li><li>Adjusted EBITDA improved to - $3,928 thousand in 2026, from - $4,743 thousand in 2025.</li></ul><h4>Cash Flow Activities (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Net cash used in operating activities was - $2,727 thousand in 2026, compared to - $3,335 thousand in 2025.</li><li>Net cash for investing activities was $0 in both 2026 and 2025.</li><li>Net cash provided by financing activities was $0 in 2026, compared to $80 thousand in 2025.</li></ul><h4>Balance Sheet (As of March 31, 2026 vs. December 31, 2025)</h4><ul><li>Total assets were $99,726 thousand as of March 31, 2026, down from $120,868 thousand as of December 31, 2025.</li><li>Total liabilities were $6,491 thousand as of March 31, 2026, down from $24,551 thousand as of December 31, 2025.</li><li>Total stockholders’ equity was $93,235 thousand as of March 31, 2026, down from $96,317 thousand as of December 31, 2025.</li></ul><h4>Outlook/Guidance</h4>Phunware, Inc. is rebuilding its commercial engine through investments in sales leadership, modernized demand generation, and a tighter focus on customer profiles, particularly in hospitality and healthcare. The company anticipates renewed bookings momentum throughout 2026 as its commercial function and productized portfolio converge to advance its vision for property intelligence. With approximately $98 million in cash and cash equivalents and no debt, Phunware, Inc. possesses the financial capacity to invest in R&amp;D, intellectual property, and both organic and inorganic growth opportunities to support this transition.

Phunware | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 542 K