Phunware auditor Marcum resigns; CBIZ CPAs hired; material weaknesses in internal controls disclosed

Phunware, Inc.

Marcum resigned as auditor effective July 23, 2025, after CBIZ acquired its attest business.
FY2024 and FY2023 audit reports were unqualified; no disagreements with Marcum.
Material weaknesses: ineffective IT general controls and lack of segregation of duties due to cost cutting and turnover.
Audit Committee approved resignation and engagement of CBIZ CPAs as new auditor for FY2025.
Marcum provided letter agreeing with the disclosures in this Form 8-K.

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