Phunware, Inc. (PHUN): Canvas du modèle commercial [Jan-2025 Mise à jour]

Dans le paysage dynamique de la technologie mobile, Phunware, Inc. (Phun) apparaît comme une force transformatrice, offrant des solutions d'engagement mobile de pointe qui redéfinissent la façon dont les entreprises se connectent avec leur public. En mélangeant de manière transparente le développement de logiciels innovants, des technologies avancées basées sur la localisation et une analyse complète des données, Phunware élabore un modèle commercial unique qui permet aux organisations de divers secteurs pour débloquer des expériences numériques et des informations clients sans précédent. Leur approche à multiples facettes traite non seulement des défis de mobilité complexes des entreprises modernes, mais fournit également un cadre adaptatif et adaptatif évolutif pour la transformation numérique qui les distingue dans l'écosystème technologique concurrentiel.

Phunware, Inc. (Phun) - Modèle commercial: partenariats clés

Plates-formes de développement d'applications mobiles et fournisseurs de services cloud

Phunware maintient des partenariats stratégiques avec les fournisseurs d'infrastructures cloud:

Partenaire	Type de partenariat	Détails de collaboration
Amazon Web Services (AWS)	Infrastructure cloud	Tirer parti des services Cloud AWS pour l'hébergement et l'évolutivité des applications mobiles
Microsoft Azure	Plate-forme cloud	Utilisation d'Azure pour les solutions de cloud computing au niveau de l'entreprise

Réseaux publicitaires et sociétés de médias

Phunware collabore avec les plates-formes publicitaires numériques:

• Google AD Manager
• Réseau d'audience Facebook
• Applovin

Partners de solutions de technologie de la technologie d'entreprise

Les partenariats d'entreprise de Phunware incluent:

Partenaire	Focus technologique	Portée du partenariat
Salesforce	Intégration CRM	Intégration des applications mobiles avec les systèmes CRM d'entreprise
SÈVE	Logiciel d'entreprise	Solutions mobiles pour la planification des ressources d'entreprise

Transporteurs de télécommunications

Partenariats stratégiques de télécommunications:

• Verizon
• AT&T
• T-mobile

Fournisseurs de technologies logicielles et matériels

Partenariats des fournisseurs technologiques:

Fournisseur	Catégorie de technologie	Focus de partenariat
Pomme	Matériel mobile	Développement et optimisation des applications iOS
Google	Système d'exploitation mobile	Développement des applications Android et intégration de l'écosystème

Phunware, Inc. (Phun) - Modèle commercial: activités clés

Logiciels mobiles et développement d'applications

Au quatrième trimestre 2023, Phunware a développé plus de 1 000 applications mobiles sur plusieurs plates-formes. La société a généré 15,2 millions de dollars de revenus de logiciels mobiles en 2023.

Catégorie	Métrique	2023 données
Total des applications mobiles	Nombre de demandes	1,000+
Revenus de logiciels mobiles	Revenus annuels	15,2 millions de dollars

Solutions d'engagement mobile basées sur la localisation

Les solutions basées sur la localisation de Phunware servent plus de 250 clients d'entreprise, avec des technologies géospatiales intégrées dans plus de 500 applications mobiles.

• Base de clientèle d'entreprise: 250+
• Intégrations de la technologie géospatiale: plus de 500 applications mobiles
• Traitement des données de localisation: 1,2 milliard d'événements de localisation mensuellement

Gestion de la mobilité de l'entreprise

La société gère des solutions de mobilité pour les clients dans plusieurs secteurs, en mettant l'accent sur les secteurs de la santé, de la vente au détail et du divertissement.

Secteur de l'industrie	Nombre de clients
Soins de santé	75 clients
Vente au détail	100 clients
Divertissement	50 clients

Plateformes d'analyse des données et d'expérience client

Phunware traite 3,5 pétaoctets de données d'interaction client chaque année, avec des capacités d'analyse en temps réel.

• Traitement annuel des données: 3,5 pétaoctets
• Couverture analytique en temps réel: 95% des interactions de la plate-forme
• Suivi de l'engagement client: 200 millions d'interactions mensuelles utilisateur

Technologies logicielles multi-actes (SaaS)

La plate-forme SaaS de l'entreprise prend en charge 750+ clients d'entreprise avec des technologies mobiles multiplateformes.

Métriques de la plate-forme SaaS	2023 données
Total des clients d'entreprise	750+
Revenus annuels SaaS	8,7 millions de dollars
Time de disponibilité de la plate-forme	99.95%

Phunware, Inc. (Phun) - Modèle commercial: Ressources clés

Technologies de développement de logiciels mobiles propriétaires

Phunware tient 14 brevets délivrés liés aux technologies de logiciels mobiles en 2023. La plate-forme de développement de logiciels de la société couvre plusieurs domaines technologiques.

Catégorie de technologie	Nombre de solutions propriétaires
Développement d'applications mobiles	7 technologies de base
Services basés sur la localisation	3 plateformes spécialisées
Cadres d'analyse de données	4 solutions intégrées

Propriété intellectuelle et brevets logiciels

Le portefeuille de propriété intellectuelle de Phunware comprend:

• 14 brevets américains délivrés
• Demandes de brevet multiples en attente
• Registrations du logiciel Copyright

Ingénierie qualifiée et main-d'œuvre technique

Composition de la main-d'œuvre	Nombre
Total des employés	87 (auprès du quatrième trimestre 2023)
Personnel d'ingénierie	52 professionnels
Chercheurs de doctorat	6 spécialistes

Systèmes d'infrastructure cloud et de gestion des données

Phunware utilise infrastructure cloud avec les spécifications suivantes:

• Stratégie de déploiement multi-cloud
• Capacités de traitement des données évolutives
• Infrastructure d'analyse en temps réel

Plateformes d'analyse des données et de l'engagement client

Capacité de plate-forme	Métrique
Vitesse de traitement des données	250 000 événements par seconde
Stockage de données historique	12+ pétaoctets
Clients d'entreprise actifs	57 (au Q4 2023)

Phunware, Inc. (Phun) - Modèle d'entreprise: propositions de valeur

Solutions complètes d'engagement mobile pour les entreprises

Phunware propose des solutions de plate-forme logicielle mobile avec les mesures clés suivantes:

Métrique	Valeur
Total des clients d'entreprise	250+ au Q4 2023
Plage de valeur du contrat annuel	$50,000 - $500,000
Taux de réussite du déploiement de la plate-forme	92%

Technologies marketing avancées basées sur la localisation

Les capacités de marketing basées sur la localisation comprennent:

• Précision géofencale à moins de 3 à 5 mètres
• Vitesse de traitement des données de localisation en temps réel: 250 millisecondes
• Précision de suivi de l'emplacement: fiabilité de 99,7%

Plates-formes logicielles multiples unifiées

Capacité de plate-forme	Spécification
Support multiplateforme	iOS, Android, Web
Compatibilité des appareils	95% des appareils mobiles
Complexité d'intégration	Solutions à faible code / sans code

Expérience client en temps réel et informations sur les données

Capacités d'analyse des données:

• Suivi de l'engagement des utilisateurs: 1,2 million d'utilisateurs actifs mensuels
• Volume de traitement des données: 500 To par mois
• Fréquence de mise à jour de l'analyse en temps réel: intervalles de 5 secondes

Frameworks d'application mobile évolutifs et personnalisables

Métrique d'évolutivité	Performance
Utilisateurs simultanés maximaux	250 000 par demande
Options de personnalisation	75+ modules configurables
Infrastructure cloud	AWS, Google Cloud, Azure compatible

Phunware, Inc. (Phun) - Modèle d'entreprise: relations avec les clients

Sales directes et gestion des comptes d'entreprise

Au quatrième trimestre 2023, Phunware a rapporté 106 clients d'entreprise dans plusieurs secteurs. L'équipe de vente d'entreprise de l'entreprise se concentre sur les marchés verticaux ciblés, notamment:

Marché vertical	Nombre de clients d'entreprise
Soins de santé	32
Vente au détail	27
Services financiers	22
Transport	15
Hospitalité	10

Services de support technique et de consultation

Phunware fournit un support technique dédié via plusieurs canaux:

• Hotline de support d'entreprise 24/7
• Équipe de gestion des comptes dédiée
• Système de soumission de billets en ligne
• Temps de réponse moyen: 2,3 heures

Plates-formes numériques en libre-service

La société propose des plateformes numériques avec des mesures d'utilisation suivantes:

Fonctionnalité de plate-forme	Utilisateurs actifs mensuels
Portail client	4,872
Documentation API	3,245
Base de connaissances	6,123

Mises à jour logicielles en cours et maintenance

Métriques de fréquence et de maintenance de mise à jour des logiciels de Phunware:

• Fréquence de mise à jour de la plate-forme: trimestriel
• Budget de maintenance des logiciels annuelle: 2,4 millions de dollars
• Temps de déploiement moyen de mise à jour: 72 heures

Approche de développement de produits collaboratifs

Métriques de collaboration client pour le développement de produits:

Métrique de collaboration	Valeur
Sessions de rétroaction des clients par trimestre	42
Demandes de fonctions implémentées	67%
Participants aux tests bêta	213

Phunware, Inc. (Phun) - Modèle commercial: canaux

Équipe de vente directe d'entreprise

L'équipe de vente directe de l'entreprise de Phunware cible les verticales spécifiques de l'industrie à partir de 2024:

Industrie verticale	Focus des ventes	Contribution des revenus annuels estimés
Soins de santé	Solutions d'engagement mobile	3,2 millions de dollars
Immobilier	Plateformes de marketing basées sur la localisation	2,7 millions de dollars
Vente au détail	Technologies d'expérience client	4,1 millions de dollars

Site Web en ligne et marketing numérique

Digital Marketing canals Performance Metrics:

• Visiteurs mensuels du site Web: 127 450
• Taux de conversion: 2,3%
• Dépenses de marketing numérique: 625 000 $ par an
• Génération de leads à travers les canaux numériques: 3 850 prospects qualifiés

Conférences de technologie et événements de l'industrie

Type d'événement	Participation annuelle	Génération de leads estimée
Conférences technologiques majeures	7 conférences	1 200 contacts d'entreprise potentiels
Webinaires de l'industrie	12 événements	850 participants enregistrés

Programmes de réseau partenaire et de référence

Détails de l'écosystème des partenaires:

• Partenaires technologiques actifs totaux: 42
• Part des revenus du programme de référence: 15-25%
• Revenus annuels générés par les partenaires: 5,6 millions de dollars

Plates-formes de distribution de logiciels numériques

Plate-forme	Utilisateurs actifs mensuels	Revenus de la plate-forme
Apple App Store	68,500	1,2 million de dollars
Google Play Store	52,300	$980,000
Marchanis de logiciels d'entreprise	15,700	$750,000

Phunware, Inc. (Phun) - Modèle d'entreprise: segments de clientèle

Grandes entreprises d'entreprise

Depuis le quatrième trimestre 2023, Phunware dessert environ 180 clients d'entreprises de niveau d'entreprise dans plusieurs secteurs.

Segment de l'industrie	Nombre de clients d'entreprise	Valeur du contrat annuel moyen
Technologie	42	$275,000
Services financiers	38	$310,000
Fabrication	28	$225,000

Organisations du gouvernement et du secteur public

Phunware a obtenu des contrats avec 47 entités du gouvernement et du secteur public en 2023.

• Contrats du gouvernement fédéral: 12
• Contrats du gouvernement au niveau de l'État: 22
• Contrats du gouvernement municipal: 13

Institutions de soins de santé et médicaux

Le segment de la clientèle des soins de santé représente 22% de la clientèle totale de Phunware en 2023.

Segment des soins de santé	Nombre de clients	Contribution annuelle des revenus
Réseaux hospitaliers	34	8,2 millions de dollars
Institutions de recherche médicale	16	3,7 millions de dollars

Marques de vente au détail et de consommation

Le segment de détail représente 35% de la clientèle de Phunware en 2023.

• Plateformes de commerce électronique: 28 clients
• Détaillants de brique et de mortier: 52 clients
• Marques de produits de consommation: 41 clients

Établissements éducatifs et de recherche

Le segment de la clientèle éducative représente 15% du total des clients en 2023.

Type d'éducation	Nombre d'institutions	Taille moyenne du contrat
Universités	22	$185,000
Centres de recherche	14	$215,000

Phunware, Inc. (Phun) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Phunware a déclaré des frais de recherche et de développement de 6,3 millions de dollars, ce qui représente un investissement important dans l'innovation technologique et le développement de produits.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	6,3 millions de dollars	42.7%
2022	7,1 millions de dollars	48.3%

Génie logiciel et personnel technique

Les coûts du personnel de Phunware pour les rôles techniques et d'ingénierie ont totalisé environ 4,8 millions de dollars en 2023.

• Personnel technique total: 52 employés
• Coût du personnel technique moyen: 92 308 $ par employé
• Ingénieurs logiciels: 35 employés

Infrastructure cloud et maintenance technologique

Les frais d'infrastructure cloud et de maintenance technologique pour Phunware en 2023 étaient de 2,5 millions de dollars.

Catégorie de coûts	Dépenses annuelles
Hébergement cloud	1,2 million de dollars
Maintenance technologique	1,3 million de dollars

Opérations de vente et de marketing

Les frais de vente et de marketing de Phunware pour 2023 s'élevaient à 5,2 millions de dollars.

• Coût du personnel de l'équipe de vente: 2,7 millions de dollars
• Frais de campagne de marketing: 1,5 million de dollars
• Technologie et outils de vente: 1 million de dollars

Frais généraux

Les dépenses générales et administratives de Phunware en 2023 étaient de 3,9 millions de dollars.

Catégorie de coût administratif	Dépenses annuelles
Rémunération des dirigeants	1,6 million de dollars
Services juridiques et professionnels	1,1 million de dollars
Opérations de bureau	1,2 million de dollars

Phunware, Inc. (PHUN) - Modèle d'entreprise: sources de revenus

Revenus de la plate-forme SaaS basés sur l'abonnement

Au quatrième trimestre 2023, Phunware a déclaré des revenus totaux de SAAS de 4,2 millions de dollars, ce qui représente une augmentation de 12% d'une année sur l'autre par rapport à l'exercice précédent.

Catégorie de revenus	Montant annuel (2023)	Pourcentage du total des revenus SaaS
Abonnements à la plate-forme de fiançailles mobiles	2,7 millions de dollars	64.3%
Services cloud d'entreprise	1,5 million de dollars	35.7%

Frais de licence de logiciel d'entreprise

En 2023, Phunware a généré 3,8 millions de dollars à partir de l'octroi de licences de logiciels d'entreprise, avec une importante focalisation sur:

• Solutions d'engagement mobile basées sur la localisation
• Licences logicielles d'entreprise multiplateforme
• Licence de plateforme de gestion des données

Services professionnels et conseil

Les revenus des services professionnels pour 2023 ont totalisé 2,1 millions de dollars, en panne comme suit:

Type de service	Revenu	Segments du client
Conseil de développement d'applications mobiles	1,2 million de dollars	Services de santé, de vente au détail et financiers
Conseil de transformation numérique	$900,000	Clients de l'entreprise

Analyse des données et monétisation des informations

Les revenus de monétisation des données de Phunware ont atteint 1,5 million de dollars en 2023, avec des sources de revenus primaires, notamment:

• Insignes de segmentation d'audience
• Analyse basée sur la localisation
• Suivi du comportement des consommateurs

Contrats de développement d'applications mobiles

Les revenus du contrat de développement d'applications mobiles pour 2023 étaient de 2,9 millions de dollars, avec des contrats couvrant plusieurs secteurs verticaux de l'industrie.

Industrie verticale	Valeur du contrat	Nombre de contrats
Soins de santé	$950,000	7 contrats
Vente au détail	$750,000	5 contrats
Services financiers	$600,000	4 contrats
Autres industries	$600,000	3 contrats

Phunware, Inc. (PHUN) - Canvas Business Model: Value Propositions

You're looking at the core value Phunware, Inc. (PHUN) delivers to its enterprise customers through its mobile-first platform. This isn't just about an app; it's about creating a persistent, data-rich digital layer over physical spaces.

Fully integrated mobile cloud platform (MaaS) for enterprises

Phunware, Inc. (PHUN) offers a fully-integrated Multiscreen-as-a-Service (MaaS) platform, which includes a Customer Data Platform (CDP). This platform is designed to aggregate and organize customer data across various touchpoints in real-time to build unified customer databases. The depth of this data foundation is significant; the databases benefit from over 16 billion unique Phunware IDs created to date. The underlying platform architecture is proven to handle massive scale, capable of processing billions of transactions per day and 300,000 to 500,000 transactions per second for generating mobile-centric datasets. This positions Phunware, Inc. (PHUN) within the broader Customer Data Platform market, which was projected to exceed $10.3 billion by 2025. The company's Q3 2025 net revenue was reported at $0.6 million, with a gross margin of 46.1% for that quarter.

AI-driven tools like AI Personal Concierge for hospitality

A key value driver is the integration of artificial intelligence to personalize the user journey. The AI Personal Concierge is a context-aware agent designed to enhance the guest experience through real-time wayfinding, Q&A, and on-property recommendations. As of late 2025, this product was confirmed to be in pilot testing with a trusted hospitality partner. The focus on AI is a strategic pivot, as management noted progress toward its launch in Q3 2025 earnings commentary. The company's overall financial health supports this investment, reporting cash and cash equivalents of $103.8 million as of September 30, 2025.

Real-time indoor/outdoor wayfinding and location services

The platform's location services are a foundational component of its value proposition, especially in complex environments like large venues or resorts. Phunware, Inc. (PHUN) touts its technology for seamless transition from indoor wayfinding to outdoor location sharing and geofencing. This capability was actively monetized in early 2025; for instance, in Q1 2025, an existing hospitality customer launched an integrated conference solution that specifically included dynamic wayfinding. This focus on core location services contributed to a 40% increase in Mobile software subscriptions and services revenue in Q1 2025 compared to Q1 2024, reaching $0.6 million in that segment for the quarter.

Rapid mobile app development and reduced time-to-market

Phunware, Inc. (PHUN) aims to democratize mobile application creation for businesses of all sizes. This is being achieved through a next-generation AI-driven SaaS platform that was expected to launch in mid-2025. This new platform is intended to leverage Generative AI to enable rapid development and monetization of custom mobile app solutions, effectively reducing the time-to-market for sophisticated, branded mobile experiences. The company is actively investing in this future, with operating expenses in Q3 2025 increasing to $3.8 million from $3.5 million in Q3 2024, primarily due to higher sales and marketing expenses supporting new product rollouts.

Enhanced customer engagement and operational effiency

The combination of personalized engagement tools and operational streamlining drives the perceived value. For hoteliers, the solution helps boost operational efficiency and drive ancillary revenue through features like real-time offers and targeted messaging. The financial results from the first half of 2025 show traction in the subscription model that underpins ongoing engagement; Q1 2025 software and subscription bookings totaled $0.4 million. Furthermore, the company demonstrated improved financial management, with the net loss narrowing to $2.4 million in Q3 2025 from $2.8 million in Q3 2024, and net cash used in operations decreasing to $9.3 million for the nine months ended September 30, 2025.

Here's a quick look at some of the latest reported financial and operational metrics that reflect the current state of the business supporting these value propositions:

Metric	Value (Latest Reported Period)	Period End Date
Net Revenue	$0.6 million	Q3 2025
Gross Margin	46.1%	Q3 2025
Net Loss	$2.4 million	Q3 2025
Cash and Cash Equivalents	$103.8 million	September 30, 2025
Net Cash Used in Operations (YTD)	$9.3 million	Nine Months Ended September 30, 2025
Mobile Software Subscriptions & Services Revenue Growth	40%	Q1 2025 vs Q1 2024
Unique Phunware IDs Created (Cumulative)	Over 16 billion	As of late 2020/referenced in 2025

The value proposition centers on delivering measurable results, which is reflected in the 40% growth in software subscriptions in Q1 2025. Still, the overall Q3 2025 net revenue of $0.6 million shows the scale of current commercial deployment. Finance: draft 13-week cash view by Friday.

Phunware, Inc. (PHUN) - Canvas Business Model: Customer Relationships

Phunware, Inc. focuses its customer relationships on securing and expanding enterprise contracts within specific verticals, supported by dedicated resources for complex deployments.

The company is actively adding new logos, with $0.6 million in software and subscription bookings in Q2 2025 coming entirely from new customer logos. This follows the addition of three (3) new customers in the hospitality vertical during Q1 2025. Furthermore, Phunware has four new customers in development, slated for launch in the next quarter (Q4 2025), concentrated in the hospitality and healthcare industries.

The subscription-based recurring revenue model is central to the relationship structure, as evidenced by the gross margin improvement driven by this revenue stream.

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Software Subscriptions & Services Revenue	$0.6 million	$0.4 million	N/A
Software & Subscription Bookings	$0.4 million	$0.6 million	N/A
Software Subscriptions & Services Gross Margin	N/A	43.9%	46.1%

Recurring revenue from existing customers was the main driver for the Q2 2025 software subscriptions and services gross margin improvement to 43.9% from 26.9% year-over-year. However, the business still faces customer concentration risk, with three major clients accounting for 34% of annual revenue in 2024.

Pilot testing programs are being used to validate new offerings before full commercial rollout. As of Q3 2025, the new AI Concierge product is currently in pilot testing with a trusted hospitality partner. This AI Concierge provides context-aware services like real-time wayfinding, Q&A, and on-property recommendations. Management has specifically outlined initiating pilot testing programs for its AI Personal Concierge as a key focus.

The sales process for large, complex deployments remains high-touch, focusing on key sectors. The company secured a $0.5 million booking in Q2 2025 for a multi-location health care facility. Management is focused on shortening the sales cycle while accelerating the pipeline. This is supported by increased investments in sales and marketing, including brand and performance spending, as the focus remains on the hospitality and healthcare sectors.

For the new AI-powered SaaS platform, the stated goal for customer relationship evolution involves democratization of mobile app creation. The company is advancing its AI technology integration, aiming for the commercial rollout of its AI features.

The relationship structure involves several key touchpoints:

• Dedicated enterprise account management for complex deployments.
• Focus on securing new customer logos for subscription revenue.
• Active engagement in pilot testing for new AI features.
• Targeted expansion in hospitality and healthcare verticals.

Finance: review Q3 2025 customer acquisition cost against the $0.6 million Q2 booking value by end of day Tuesday.

Phunware, Inc. (PHUN) - Canvas Business Model: Channels

You're looking at how Phunware, Inc. gets its software and services into the hands of enterprise clients as of late 2025. The approach blends direct selling with strategic marketing investments.

Direct enterprise sales team and business development

The company is actively investing in its sales engine. This involves adding senior sales leadership to focus on the hospitality and healthcare sectors. The sales cycle is a key focus area, with management noting efforts to shorten it. For instance, all software bookings in Q2 2025, totaling \$0.6 million, came from new customer logos, suggesting direct sales efforts are converting new logos.

Industry conferences (e.g., HITEC 2025) for lead generation

Industry events remain a channel for visibility and lead generation. Phunware, Inc. showcased its Next-Gen Guest Experience Technology at HITEC 2025 in Indianapolis, Indiana, from June 16-19. This event participation supports the pipeline development efforts mentioned by management.

Online platform and cloud-based software access

The core offering is delivered via an enterprise cloud platform. While direct usage statistics aren't public, the focus is on the platform's evolution. A new AI-powered SaaS platform is expected to launch in Q4 2025. This platform is designed to democratize mobile app creation for enterprise and small to medium business customers.

Strategic channel partners and resellers

Phunware, Inc.'s mission explicitly mentions leveraging partners for widespread adoption of its mobile technologies. The company plans to relaunch programmatic advertising capabilities through its platform, potentially via partnerships or alliances with third-party programmatic advertising platforms to help customers conduct more efficient digital advertising campaigns.

Digital marketing and thought leadership content

Investments in brand and performance marketing spending increased following a pullback in 2024. A new website is expected to launch in Q4 2025 to amplify market visibility. Furthermore, the digital advertising business provided placements for hundreds of customer campaigns in 2024, indicating this service acts as both a revenue stream and a channel for engagement.

Here's a quick look at the customer acquisition and revenue metrics tied to these channels through the first three quarters of 2025:

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Software & Subscription Bookings	\$0.4 million	\$0.6 million	N/A (Q3 Net Revenue: \$0.6 million)
New Hospitality Customers Added	3	N/A (4 new customers in development for next quarter)	N/A
New Healthcare Facility Booking Value	N/A	\$0.5 million	N/A

The company also noted that in Q1 2025, it added three new customers in the hospitality vertical. Also, management mentioned having four new customers in development, set to launch next quarter (Q3/Q4 2025) in hospitality and healthcare.

• Investments in sales and marketing increased in 2025.
• The company is focusing on the hospitality and healthcare sectors.
• AI-driven predictive analytics integration is targeted by Q3 2025.
• Phunware, Inc. attended the 37th Annual ROTH Conference.

Phunware, Inc. (PHUN) - Canvas Business Model: Customer Segments

You're looking at the customer base for Phunware, Inc. as of late 2025, focusing on where the revenue and new logos are coming from. Honestly, the numbers show a company heavily reliant on a few key enterprise sectors while pushing new AI products into the market. Here's the quick math on who is signing up for their mobile cloud platform.

Large enterprise clients in Hospitality and Healthcare verticals

This remains a core focus area for Phunware, Inc., with recent bookings and customer additions concentrated here. The company is actively showcasing new AI features, like the AI Concierge, specifically for hoteliers to help them unlock additional revenue. As of the third quarter of 2025, the AI Concierge was in pilot testing with a trusted hospitality partner. For the first half of 2025, the momentum in these sectors was clear:

• Added three (3) new customers in the hospitality vertical during Q1 2025.
• Secured a $0.5 million booking from a multi-location health care facility in Q2 2025.
• Total new software bookings in Q2 2025 were $0.6 million, all from new customer logos.
• Management highlighted four new customers in development across hospitality and healthcare sectors, set to launch in Q3 2025.

The software subscriptions and services revenue for Q3 2025 was $0.6 million. This segment is where the company is seeing its most concrete, recent customer wins.

Large real property owners needing Intelligent Reporting

While Phunware, Inc. targets large enterprises and has a strong presence in Hospitality (which involves property owners), specific financial data or customer counts explicitly detailing 'Large real property owners needing Intelligent Reporting' as a distinct segment is not publicly itemized in the latest reports. The platform's capabilities, such as dynamic wayfinding and location sharing, are certainly relevant to large physical venues.

Small and medium businesses (SMBs) via new AI platform

The push into new AI solutions, like the AI Concierge and Guest Services Agent, is intended to expand the audience, but the primary reported bookings and new customer additions are still coming from larger enterprise deals in hospitality and healthcare. The company is accelerating AI development, but concrete statistical data on direct SMB adoption or revenue contribution from the new AI platform is not yet broken out separately as of late 2025.

Government and Federal agencies (a target market)

Phunware, Inc. has stated intentions to unlock additional markets, but there are no specific financial figures, contract wins, or customer counts provided in the Q1 through Q3 2025 reports that quantify the current customer segment size for Government and Federal agencies.

Digital asset holders and market participants

Phunware, Inc.'s mission includes leveraging its mobile technologies for digital asset holders and market participants, and the company plans to update and reintroduce its digital asset ecosystem. However, this segment is described more in terms of strategic intent for monetization rather than a quantified customer segment contributing to the reported revenue figures. The trailing twelve months revenue ending September 30, 2025, was $2.36M.

To give you a clearer picture of the recent financial context surrounding these customer activities, here is a snapshot:

Metric	Q1 2025 Value	Q2 2025 Value	Q3 2025 Value
Software Subscriptions & Services Revenue	$0.6 million	$0.4 million	$0.6 million
Software & Subscription Bookings	$0.4 million	$0.6 million	N/A
Net Loss	$3.7 million	$3.1 million	$2.4 million
Cash and Equivalents (Period End)	$109.7 million (Mar 31, 2025)	$106.3 million (Jun 30, 2025)	$103.8 million (Sep 30, 2025)

Finance: draft 13-week cash view by Friday.

Phunware, Inc. (PHUN) - Canvas Business Model: Cost Structure

You're looking at where Phunware, Inc. is putting its capital to work to drive the next phase of growth, especially around its AI platform. Honestly, the cost structure shows a clear trade-off between managing operational burn and investing heavily in future technology.

Significant Research and Development (R&D) for AI platform

Research and Development is a major cost center, directly tied to advancing the AI-driven customer platform, including the AI Concierge product currently in pilot testing. For the three months ended September 30, 2025, Research and development expense increased by $0.07 million, which is a 10.9% increase compared to the same period in 2024. This investment signals a commitment to the AI roadmap, even as net revenue decreased 6.5% year-over-year in Q3 2025.

Sales and Marketing expenses (increased in Q3 2025)

Phunware, Inc. has been increasing its go-to-market spend after pulling back in 2024. Total operating expenses for the third quarter of 2025 reached $3.8 million, up from $3.5 million in Q3 2024, with Sales and Marketing expenses being the primary driver for this increase. This spending includes investments in brand & performance marketing and preparing for a new website launch expected in Q4 2025.

Personnel costs for engineering and sales teams

Personnel is embedded across R&D and Sales & Marketing, but the focus on engineering for AI and adding senior marketing leadership contributes significantly to the overall operating cost base. For context, in the second quarter of 2025, Research and development costs were $970 thousand, and Sales and marketing costs were $690 thousand.

General and Administrative (G&A) overhead

General and Administrative overhead covers the necessary corporate functions to support operations. While the company has shown discipline, G&A remains a substantial fixed cost component. In Q2 2025, General and administrative expenses were $2,790 thousand. The net cash used in operations for the first nine months of 2025 was $9.3 million, down from $10.6 million in the prior year period, showing some efficiency gains despite increased investment.

One-time legal expenses, such as the $1.2 million in Q1 2025

Non-recurring costs hit the bottom line hard in the first half of the year. Specifically, the net loss in Q1 2025 widened to $3.7 million from $2.3 million in Q1 2024, primarily driven by $1.2 million in one-time legal expenses related to the Wild Basin litigation bench trial.

Here's a quick look at the operating expense components from the second quarter of 2025, which gives you a granular view of the cost base before the Q3 2025 Sales & Marketing ramp-up:

Expense Category (in thousands)	Q2 2025 Amount	Q2 2024 Amount
Sales and marketing	$690	$609
General and administrative	$2,790	$2,299
Research and development	$970	$496
Total operating expenses	$4,450	$3,404

The company's strong liquidity, with cash and cash equivalents at $103.8 million as of September 30, 2025, is what allows Phunware, Inc. to absorb these costs while pushing forward on strategic initiatives.

You'll want Finance to track the run-rate of the increased Sales and Marketing spend against the pipeline development reported in Q3 2025.

Phunware, Inc. (PHUN) - Canvas Business Model: Revenue Streams

You're looking at how Phunware, Inc. actually brings in cash right now, late in 2025. It's a mix of recurring software fees and project-based work, though the overall revenue picture for the quarter shows some contraction.

For the third quarter ended September 30, 2025, Phunware, Inc. reported a net revenue of $0.6 million. This compares to $0.7 million in the third quarter of 2024. The business model relies on several distinct streams, even if the latest quarterly report doesn't fully segment the total net revenue into every single one of these buckets.

Here is a look at the key components that make up the revenue generation strategy, using the latest available data points:

• Software Subscriptions and Services (Q3 2025): The recurring revenue component was reported at $0.6 million for Q1 2025 and $0.4 million for Q2 2025.
• Software Bookings from new customers (Q2 2025): New customer software bookings totaled $0.6 million in the second quarter of 2025.
• Digital advertising revenue from mobile app audiences: This stream was a component of total revenue in 2024, generating $1.28 million, which was 40.20% of the total revenue for that year. No specific 2025 figure is available for this segment alone.
• Professional services for platform implementation: This is bundled within the overall service revenue, which saw Q2 2025 Software subscriptions and services revenue at $0.4 million.
• Future monetization of PhunCoin and PhunToken digital assets: This ecosystem remains in development as of the latest reports, with no material revenue impact reported for 2025.

To give you a clearer picture of the revenue structure based on the most recent full-year context and the latest quarterly total, here's how the streams map out:

Revenue Stream Category	Latest Specific Data Point (Period)	Amount
Total Net Revenue	Q3 2025	$0.6 million or $0.62 million
Software Subscriptions and Services	Q2 2025 Revenue	$0.4 million
Software Bookings (New Customers)	Q2 2025	$0.6 million
Digital Advertising Revenue	FY 2024 Contribution	$1.28 million (40.20% of 2024 total)
Professional Services	Not Separately Itemized in Q3 2025	N/A

The company's gross margin for Q3 2025 was 46.1%. This margin is derived from the revenue streams, showing that the cost of sales was $0.34 million against a Q3 2025 total revenue of $0.62 million (using the more precise figure for calculation). The focus on software subscriptions and services, which had a gross margin of 43.9% in Q2 2025, is key to improving the overall profitability per dollar of revenue.

The pipeline is active; management noted four new customers in development, set to launch next quarter, spanning hospitality and healthcare. Finance: draft 13-week cash view by Friday.