Phunware Q4 rev $0.8M (+33% YoY); FY rev down to $2.6M; launches hospitality AI products with $100.6M cash

Phunware, Inc.

Q4 net revenue $0.8M, up 33% YoY from $0.6M; gross margin improved to 57.7% from 23.3%.
Full year 2025 revenue $2.6M, down 19% from $3.2M in 2024; net loss $11.4M ($0.57 per share) vs $10.3M ($0.94).
Cash and cash equivalents $100.6M as of Dec 31, 2025; net cash used in operations improved to $12.5M from $13.3M.
Launched two hospitality product tiers (Luxury Engagement, Enriched Experience) and AI Concierge commercially available after pilot.
Board changes: Ed Lu elected, Elliot Han appointed Chair, Interim CEO Jeremy Krol added to Board.

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