---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037416"
form_type: "8-K"
ticker: "PHUN"
cik: "0001665300"
company_name: "Phunware, Inc."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T15:53:34.995969+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Phunware winds down Lyte PC business; expects up to $3M impairment, $0.2-0.4M cash costs

## Summary
- Committed to wind down Lyte Technology PC business by end of 2023; lease termination in principle.
- Estimates cash wind-down costs of $0.2M-$0.4M, funded from asset sale proceeds.
- Expects pre-tax non-cash impairment losses up to $3.0M in Q4 2023.
- CEO says wind down reduces annual cash burn by ~$2M; reaffirms focus on enterprise software.

## SEC filing metadata
- accession: 0001628280-23-037416
- form_type: 8-K
- ticker: PHUN
- cik: 0001665300
- company_name: Phunware, Inc.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 2.06, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1665300/000162828023037416/0001628280-23-037416-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1665300/000162828023037416/phun-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037416
- JSON: https://secwatch.observer/filing/0001628280-23-037416.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037416.txt

## Key facts
- Restructurings & Charges
  Phunware, Inc. announced a restructuring with charges of between $0.2 million and $0.4 million affecting PC manufacturing assembly business, Lyte Technology.
  - Type: restructuring
  - Charge: between $0.2 million and $0.4 million
  - Affected area: PC manufacturing assembly business, Lyte Technology
  source text: the Company estimates that it will incur cash costs related to the wind down of between $0.2 million and $0.4 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000162828023037416/0001628280-23-037416-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.