Phunware FY2024 net loss narrows to $10.3M; cash surges to $113M; interim CEO appointed

Phunware, Inc.

Net loss from continuing ops improved to $10.3M from $41.9M; adjusted EBITDA loss improved to $10.3M from $15.5M.
Cash and cash equivalents rose to $113.0M (Dec 2024) from $3.9M (Dec 2023), fortifying balance sheet.
Software/subscription bookings grew 232% YoY; full-year revenue $3.2M with 46% gross margins.
Stephen Chen named interim CEO after Michael Snavely's retirement; Quyen Du appointed to Board.
Signed term sheet to acquire controlling stake in MyCanvass; AI-driven platform launch targeted for mid-2025.

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