Phunware, Inc. (Phun): modelo de negócios [Jan-2025 Atualizado]

No cenário dinâmico da tecnologia móvel, a Phunware, Inc. (Phun) surge como uma força transformadora, oferecendo soluções de engajamento móvel de ponta que redefinem como as empresas se conectam com seu público. Ao misturar perfeitamente o desenvolvimento inovador de software, tecnologias avançadas baseadas em localização e análise abrangente de dados, a Phunware cria um modelo de negócios exclusivo que capacita organizações de diversos setores a desbloquear experiências digitais e insights de clientes sem precedentes. Sua abordagem multifacetada não apenas aborda os complexos desafios de mobilidade das empresas modernas, mas também fornece uma estrutura escalável e adaptativa para a transformação digital que os diferencia no ecossistema de tecnologia competitivo.

Phunware, Inc. (Phun) - Modelo de Negócios: Parcerias -chave

Plataformas de desenvolvimento de aplicativos móveis e provedores de serviços em nuvem

A Phunware mantém parcerias estratégicas com provedores de infraestrutura em nuvem:

Parceiro	Tipo de parceria	Detalhes da colaboração
Amazon Web Services (AWS)	Infraestrutura em nuvem	Aproveitando os serviços da AWS Cloud para hospedagem de aplicativos móveis e escalabilidade
Microsoft Azure	Plataforma em nuvem	Utilizando o Azure para soluções de computação em nuvem em nível corporativo

Redes de publicidade e empresas de mídia

Phunware colabora com plataformas de publicidade digital:

• Google Ad Manager
• Rede de público do Facebook
• APLOVIN

Enterprise Technology Solution Partners

As parcerias corporativas da Phunware incluem:

Parceiro	Foco em tecnologia	Escopo da parceria
Salesforce	Integração do CRM	Integração de aplicativos móveis com sistemas corporativos de CRM
SEIVA	Software corporativo	Soluções móveis para planejamento de recursos corporativos

Transportadoras de telecomunicações

Parcerias estratégicas de telecomunicações:

• Verizon
• AT&T
• T-Mobile

Fornecedores de tecnologia de software e hardware

Parcerias de fornecedores de tecnologia:

Fornecedor	Categoria de tecnologia	Foco em parceria
Maçã	Hardware móvel	Desenvolvimento e otimização de aplicativos iOS
Google	Sistema operacional móvel	Desenvolvimento de aplicativos Android e integração do ecossistema

Phunware, Inc. (Phun) - Modelo de Negócios: Atividades -chave

Software móvel e desenvolvimento de aplicativos

A partir do quarto trimestre 2023, a Phunware desenvolveu mais de 1.000 aplicativos móveis em várias plataformas. A empresa gerou US $ 15,2 milhões em receita de software móvel em 2023.

Categoria	Métricas	2023 dados
Total de aplicativos móveis	Número de aplicações	1,000+
Receita de software móvel	Receita anual	US $ 15,2 milhões

Soluções de engajamento móvel baseadas em localização

As soluções baseadas em localização da Phunware atendem a mais de 250 clientes corporativos, com tecnologias geoespaciais integradas a mais de 500 aplicativos móveis.

• Base de clientes corporativos: 250+
• Integrações de tecnologia geoespacial: mais de 500 aplicativos móveis
• Processamento de dados de localização: 1,2 bilhão de eventos de localização mensalmente

Gerenciamento de mobilidade corporativa

A empresa gerencia soluções de mobilidade para clientes em vários setores, com foco em setores de saúde, varejo e entretenimento.

Setor da indústria	Número de clientes
Assistência médica	75 clientes
Varejo	100 clientes
Entretenimento	50 clientes

Análise de dados e plataformas de experiência do cliente

Phunware Processos 3.5 Petabytes de dados de interação do cliente anualmente, com recursos de análise em tempo real.

• Processamento anual de dados: 3.5 Petabytes
• Cobertura de análise em tempo real: 95% das interações da plataforma
• Rastreamento de engajamento do cliente: 200 milhões de interações mensais de usuário

Tecnologias de software como serviço (SaaS)

A plataforma SaaS da empresa suporta mais de 750 clientes corporativos com tecnologias móveis de plataforma cruzada.

Métricas da plataforma SaaS	2023 dados
Total de clientes corporativos	750+
Receita anual de SaaS	US $ 8,7 milhões
Tempo de atividade da plataforma	99.95%

Phunware, Inc. (Phun) - Modelo de negócios: Recursos -chave

Tecnologias proprietárias de desenvolvimento de software móvel

Phunware é mantido 14 patentes emitidas Relacionado às tecnologias de software móvel a partir de 2023. A plataforma de desenvolvimento de software da empresa abrange vários domínios tecnológicos.

Categoria de tecnologia	Número de soluções proprietárias
Desenvolvimento de aplicativos móveis	7 tecnologias principais
Serviços baseados em localização	3 plataformas especializadas
Estruturas de análise de dados	4 soluções integradas

Propriedade intelectual e patentes de software

O portfólio de propriedade intelectual de Phunware inclui:

• 14 patentes nos EUA emitidos
• Múltiplos pedidos de patente pendente
• Registros de direitos autorais de software

Engenharia qualificada e força de trabalho técnica

Composição da força de trabalho	Número
Total de funcionários	87 (a partir do quarto trimestre 2023)
Equipe de engenharia	52 profissionais
Pesquisadores de nível de doutorado	6 especialistas

Infraestrutura em nuvem e sistemas de gerenciamento de dados

Phunware utiliza Infraestrutura baseada em nuvem Com as seguintes especificações:

• Estratégia de implantação de várias nuvens
• Recursos de processamento de dados escaláveis
• Infraestrutura de análise em tempo real

Plataformas de análise de dados e engajamento de dados do cliente

Capacidade da plataforma	Métrica
Velocidade de processamento de dados	250.000 eventos por segundo
Armazenamento de dados históricos	12+ petabytes
Clientes ativos corporativos	57 (a partir do quarto trimestre 2023)

Phunware, Inc. (Phun) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de engajamento móvel para empresas

Phunware oferece soluções de plataforma de software móvel com as seguintes métricas principais:

Métrica	Valor
Total de clientes corporativos	250+ a partir do quarto trimestre 2023
Faixa de valor de contrato anual	$50,000 - $500,000
Taxa de sucesso de implantação de plataforma	92%

Tecnologias de marketing avançadas baseadas em localização

Os recursos de marketing baseados em localização incluem:

• Precisão de geofencismo dentro de 3-5 metros
• Velocidade de processamento de dados de localização em tempo real: 250 milissegundos
• Rastreamento de localização Precisão: 99,7% de confiabilidade

Plataformas unificadas de software multscreen

Capacidade da plataforma	Especificação
Suporte de plataforma cruzada	iOS, Android, web
Compatibilidade do dispositivo	95% dos dispositivos móveis
Complexidade de integração	Soluções de código baixo/sem código

Experiência do cliente em tempo real e insights de dados

Recursos de análise de dados:

• Rastreamento de engajamento do usuário: 1,2 milhão de usuários ativos mensais
• Volume de processamento de dados: 500 TB por mês
• Atualização de análise em tempo real Frequência: intervalos de 5 segundos

Estruturas de aplicativos móveis escaláveis ​​e personalizáveis

Métrica de escalabilidade	Desempenho
Usuários simultâneos máximos	250.000 por aplicação
Opções de personalização	75+ módulos configuráveis
Infraestrutura em nuvem	AWS, Google Cloud, Azure Compatible

Phunware, Inc. (Phun) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas e gerenciamento de contas corporativas

A partir do quarto trimestre 2023, a Phunware relatou 106 clientes corporativos em vários setores. A equipe de vendas corporativa da empresa se concentra nos mercados verticais direcionados, incluindo:

Mercado vertical	Número de clientes corporativos
Assistência médica	32
Varejo	27
Serviços financeiros	22
Transporte	15
Hospitalidade	10

Serviços de suporte técnico e consulta

Phunware fornece suporte técnico dedicado por meio de vários canais:

• 24/7 de suporte corporativo
• Equipe de gerenciamento de contas dedicada
• Sistema de envio de ingressos on -line
• Tempo médio de resposta: 2,3 horas

Plataformas digitais de autoatendimento

A empresa oferece plataformas digitais com as seguintes métricas de uso:

Recurso da plataforma	Usuários ativos mensais
Portal do cliente	4,872
Documentação da API	3,245
Base de conhecimento	6,123

Atualizações e manutenção de software em andamento

Métricas de frequência e manutenção de atualização de software da Phunware:

• Frequência de atualização da plataforma: trimestral
• Orçamento anual de manutenção de software: US $ 2,4 milhões
• Tempo médio de implantação de atualização: 72 horas

Abordagem colaborativa de desenvolvimento de produtos

Métricas de colaboração de clientes para desenvolvimento de produtos:

Métrica de colaboração	Valor
Sessões de feedback do cliente por trimestre	42
Solicitações de recursos implementadas	67%
Participantes do teste beta	213

Phunware, Inc. (Phun) - Modelo de Negócios: Canais

Equipe de vendas da empresa direta

A equipe de vendas corporativa direta da Phunware tem como alvo as verticais específicas do setor a partir de 2024:

Indústria vertical	Foco de vendas	Contribuição anual estimada da receita
Assistência médica	Soluções de engajamento móvel	US $ 3,2 milhões
Imobiliária	Plataformas de marketing baseadas em localização	US $ 2,7 milhões
Varejo	Tecnologias de experiência do cliente	US $ 4,1 milhões

Site online e marketing digital

Métricas de desempenho de canais de marketing digital:

• Website Visitantes mensais: 127.450
• Taxa de conversão: 2,3%
• Gastes de marketing digital: US $ 625.000 anualmente
• Geração de leads através de canais digitais: 3.850 leads qualificados

Conferências de Tecnologia e Eventos da Indústria

Tipo de evento	Participação anual	Geração estimada de chumbo
Principais conferências de tecnologia	7 Conferências	1.200 contatos empresariais em potencial
Webinars da indústria	12 eventos	850 participantes registrados

Rede de parceiros e programas de referência

Detalhes do ecossistema de parceiros:

• Total Active Technology Partners: 42
• Receita do programa de referência Participação: 15-25%
• Receita anual gerada por parceiro: US $ 5,6 milhões

Plataformas de distribuição de software digital

Plataforma	Usuários ativos mensais	Receita da plataforma
Apple App Store	68,500	US $ 1,2 milhão
Google Play Store	52,300	$980,000
Mercados de software corporativo	15,700	$750,000

Phunware, Inc. (Phun) - Modelo de negócios: segmentos de clientes

Grandes corporações empresariais

A partir do quarto trimestre 2023, a Phunware atende a aproximadamente 180 clientes corporativos em nível corporativo em vários setores.

Segmento da indústria	Número de clientes corporativos	Valor médio anual do contrato
Tecnologia	42	$275,000
Serviços financeiros	38	$310,000
Fabricação	28	$225,000

Organizações do governo e do setor público

Phunware garantiu contratos com 47 entidades do governo e do setor público em 2023.

• Contratos do governo federal: 12
• Contratos governamentais em nível estadual: 22
• Contratos do governo municipal: 13

Instituições médicas e de saúde

O segmento de clientes da saúde representa 22% da base total de clientes da Phunware em 2023.

Segmento de saúde	Número de clientes	Contribuição anual da receita
Redes hospitalares	34	US $ 8,2 milhões
Instituições de Pesquisa Médica	16	US $ 3,7 milhões

Marcas de varejo e consumidor

O segmento de varejo compreende 35% da base de clientes da Phunware em 2023.

• Plataformas de comércio eletrônico: 28 clientes
• Varejistas de tijolo e argamassa: 52 clientes
• Marcas de produtos de consumo: 41 clientes

Instituições educacionais e de pesquisa

O segmento educacional do cliente é responsável por 15% do total de clientes em 2023.

Tipo de educação	Número de instituições	Tamanho médio do contrato
Universidades	22	$185,000
Centros de pesquisa	14	$215,000

Phunware, Inc. (Phun) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Phunware relatou despesas de pesquisa e desenvolvimento de US $ 6,3 milhões, representando um investimento significativo em inovação tecnológica e desenvolvimento de produtos.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 6,3 milhões	42.7%
2022	US $ 7,1 milhões	48.3%

Engenharia de software e pessoal técnico

Os custos de pessoal da Phunware para funções técnicas e de engenharia totalizaram aproximadamente US $ 4,8 milhões em 2023.

• Equipe técnica total: 52 funcionários
• Custo médio do pessoal técnico: US $ 92.308 por funcionário
• Engenheiros de software: 35 funcionários

Infraestrutura em nuvem e manutenção de tecnologia

As despesas com infraestrutura em nuvem e manutenção de tecnologia para Phunware em 2023 foram de US $ 2,5 milhões.

Categoria de custo	Despesa anual
Hospedagem em nuvem	US $ 1,2 milhão
Manutenção de tecnologia	US $ 1,3 milhão

Operações de vendas e marketing

As despesas de vendas e marketing da Phunware em 2023 totalizaram US $ 5,2 milhões.

• Custos de pessoal da equipe de vendas: US $ 2,7 milhões
• Despesas de campanha de marketing: US $ 1,5 milhão
• Tecnologia e ferramentas de vendas: US $ 1 milhão

Overhead administrativo geral

As despesas gerais e administrativas para Phunware em 2023 foram de US $ 3,9 milhões.

Categoria de custo administrativo	Despesa anual
Compensação executiva	US $ 1,6 milhão
Serviços legais e profissionais	US $ 1,1 milhão
Operações do escritório	US $ 1,2 milhão

Phunware, Inc. (Phun) - Modelo de negócios: fluxos de receita

Receitas de plataforma SaaS baseadas em assinatura

A partir do quarto trimestre de 2023, a Phunware registrou receitas totais de SaaS de US $ 4,2 milhões, representando um aumento de 12% ano a ano em relação ao ano fiscal anterior.

Categoria de receita	Valor anual (2023)	Porcentagem da receita total de SaaS
Assinaturas de plataforma de engajamento móvel	US $ 2,7 milhões	64.3%
Serviços em nuvem corporativa	US $ 1,5 milhão	35.7%

Taxas de licenciamento de software corporativo

Em 2023, a Phunware gerou US $ 3,8 milhões do licenciamento de software corporativo, com foco principal em:

• Soluções de engajamento móvel baseadas em localização
• Licenças de software corporativo de várias plataformas
• Licenciamento da plataforma de gerenciamento de dados

Serviços profissionais e consultoria

A receita de serviços profissionais para 2023 totalizou US $ 2,1 milhões, divididos da seguinte forma:

Tipo de serviço	Receita	Segmentos de clientes
Consultoria de desenvolvimento de aplicativos móveis	US $ 1,2 milhão	Saúde, varejo, serviços financeiros
Consultoria de Transformação Digital	$900,000	Clientes corporativos

Analítica de dados e insights Monetização

A receita de monetização de dados de Phunware atingiu US $ 1,5 milhão em 2023, com fontes de receita primária, incluindo:

• Insights de segmentação do público
• Análise baseada em localização
• Rastreamento de comportamento do consumidor

Contratos de desenvolvimento de aplicativos móveis

As receitas do contrato de desenvolvimento de aplicativos móveis para 2023 foram de US $ 2,9 milhões, com contratos abrangendo várias verticais do setor.

Indústria vertical	Valor do contrato	Número de contratos
Assistência médica	$950,000	7 contratos
Varejo	$750,000	5 contratos
Serviços financeiros	$600,000	4 contratos
Outras indústrias	$600,000	3 contratos

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.