Phunware pushes back on Goldenwise; Q1 net loss narrows to $3.2M, gross margin 70.8%, AI Concierge beats forecast

Phunware, Inc.

Net loss narrowed to $3.2M in Q1 2026 from $3.7M YoY; cash used in ops fell to $2.7M from $3.3M.
Gross margin improved to 70.8% from 52.2% YoY; customer retention above 95%.
AI Concierge commercially released; customer engagement ~40% above internal forecasts.
Company holds ~$97.9M cash, no debt; Goldenwise (6.9% holder) acquired stake for ~$2.6M.
Board rejects Goldenwise's demand for board seats, citing lack of credible plan and factual errors.

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