Phunware (PHUN)
Market Price (3/7/2026): $1.68 | Market Cap: $33.9 MilSector: Information Technology | Industry: Application Software
Phunware (PHUN)
Market Price (3/7/2026): $1.68Market Cap: $33.9 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -302% | Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -167% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -741% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -33%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -6.5% | |
| Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and Crypto & Blockchain. Themes include Software as a Service (SaaS), Show more. | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% | |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -508%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -508% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -39% | ||
| Key risksPHUN key risks include [1] significant financial instability and an unproven AI monetization strategy, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -302% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and Crypto & Blockchain. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -107%, 3Y Excs Rtn is -167% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -741% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -33%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -6.5% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -508%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -508% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -39% |
| Key risksPHUN key risks include [1] significant financial instability and an unproven AI monetization strategy, Show more. |
Qualitative Assessment
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Phunware (PHUN) stock has lost about 20% since 11/30/2025 because of the following key factors:
1. Continued Revenue Contraction and Unprofitability.
Phunware reported a 6.5% year-over-year decrease in net revenue to $0.6 million in Q3 2025, alongside a decline in gross margin to 46.1% from 48.4% in Q3 2024. Analysts also revised down the 2025 revenue projection to $2.3 million from $3.7 million, highlighting persistent challenges in revenue generation, and the company is not forecast to become profitable over the next three years.
2. Sustained Negative Market Reaction Post-Earnings Beat.
Despite beating Q3 2025 earnings per share estimates by 14.29% with an EPS of -$0.12 against an expected -$0.14, and exceeding revenue estimates, the stock experienced an immediate decline of 3.39% in the 48 hours following its November 6, 2025 earnings report. This initial negative reaction was followed by a sustained downward drift, with PHUN shares falling 15.4% lower over the 95 days subsequent to the earnings release.
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1. Continued Revenue Contraction and Unprofitability.
Phunware reported a 6.5% year-over-year decrease in net revenue to $0.6 million in Q3 2025, alongside a decline in gross margin to 46.1% from 48.4% in Q3 2024. Analysts also revised down the 2025 revenue projection to $2.3 million from $3.7 million, highlighting persistent challenges in revenue generation, and the company is not forecast to become profitable over the next three years.
2. Sustained Negative Market Reaction Post-Earnings Beat.
Despite beating Q3 2025 earnings per share estimates by 14.29% with an EPS of -$0.12 against an expected -$0.14, and exceeding revenue estimates, the stock experienced an immediate decline of 3.39% in the 48 hours following its November 6, 2025 earnings report. This initial negative reaction was followed by a sustained downward drift, with PHUN shares falling 15.4% lower over the 95 days subsequent to the earnings release.
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Stock Movement Drivers
Fundamental Drivers
The -18.4% change in PHUN stock from 11/30/2025 to 3/6/2026 was primarily driven by a -18.4% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.07 | 1.69 | -18.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 2 | 0.0% |
| P/S Multiple | 17.7 | 14.5 | -18.4% |
| Shares Outstanding (Mil) | 20 | 20 | 0.0% |
| Cumulative Contribution | -18.4% |
Market Drivers
11/30/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| PHUN | -18.4% | |
| Market (SPY) | -1.6% | 53.3% |
| Sector (XLK) | -4.1% | 55.0% |
Fundamental Drivers
The -34.5% change in PHUN stock from 8/31/2025 to 3/6/2026 was primarily driven by a -33.3% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.58 | 1.69 | -34.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 2 | -1.8% |
| P/S Multiple | 21.7 | 14.5 | -33.3% |
| Shares Outstanding (Mil) | 20 | 20 | -0.1% |
| Cumulative Contribution | -34.5% |
Market Drivers
8/31/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| PHUN | -34.5% | |
| Market (SPY) | 4.5% | 54.8% |
| Sector (XLK) | 4.8% | 53.4% |
Fundamental Drivers
The -45.1% change in PHUN stock from 2/28/2025 to 3/6/2026 was primarily driven by a -45.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.08 | 1.69 | -45.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 2 | -33.4% |
| P/S Multiple | 9.7 | 14.5 | 49.7% |
| Shares Outstanding (Mil) | 11 | 20 | -45.0% |
| Cumulative Contribution | -45.1% |
Market Drivers
2/28/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| PHUN | -45.1% | |
| Market (SPY) | 14.2% | 57.2% |
| Sector (XLK) | 22.3% | 57.0% |
Fundamental Drivers
The -96.7% change in PHUN stock from 2/28/2023 to 3/6/2026 was primarily driven by a -90.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282023 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 50.50 | 1.69 | -96.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 22 | 2 | -89.5% |
| P/S Multiple | 4.5 | 14.5 | 225.1% |
| Shares Outstanding (Mil) | 2 | 20 | -90.2% |
| Cumulative Contribution | -96.7% |
Market Drivers
2/28/2023 to 3/6/2026| Return | Correlation | |
|---|---|---|
| PHUN | -96.7% | |
| Market (SPY) | 76.0% | 7.0% |
| Sector (XLK) | 105.2% | 8.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PHUN Return | 109% | -71% | -89% | 27% | -64% | -5% | -97% |
| Peers Return | 5% | -69% | 56% | 131% | 73% | -21% | 59% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| PHUN Win Rate | 33% | 17% | 8% | 42% | 25% | 33% | |
| Peers Win Rate | 47% | 28% | 57% | 47% | 57% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| PHUN Max Drawdown | -35% | -71% | -91% | -30% | -66% | -14% | |
| Peers Max Drawdown | -30% | -78% | -29% | -36% | -30% | -38% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: APPS, APP, U, MGNI, PUBM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)
How Low Can It Go
| Event | PHUN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -99.2% | -25.4% |
| % Gain to Breakeven | 12055.8% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -62.1% | -33.9% |
| % Gain to Breakeven | 164.1% | 51.3% |
| Time to Breakeven | 74 days | 148 days |
| 2018 Correction | ||
| % Loss | -99.6% | -19.8% |
| % Gain to Breakeven | 27559.2% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to APPS, APP, U, MGNI, PUBM
In The Past
Phunware's stock fell -99.2% during the 2022 Inflation Shock from a high on 10/22/2021. A -99.2% loss requires a 12055.8% gain to breakeven.
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About Phunware (PHUN)
Phunware, Inc., together with its subsidiaries, offers integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include cloud-based mobile software that licenses in software development kits (SDKs) form utilized inside mobile applications, such as analytics that provides data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services that include mapping, navigation, wayfinding, workflow, asset management, and policy enforcement. It also engages the integration of its SDK licenses into existing applications maintained by its customers, as well as custom application development and support services; provision of cloud-based vertical solutions for healthcare, retail, sports, aviation, real estate, hospitality, education, and other applications; offering application transactions, including re-occurring and one-time transactional media purchases for application discovery, user acquisition and audience building, audience engagement, and audience monetization; and pre-packaged and custom high-end personal computer systems for gaming, streaming, and cryptocurrency mining enthusiasts. The company was founded in 2009 and is headquartered in Austin, Texas.
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Here are 1-3 brief analogies for Phunware:
- A Salesforce for mobile apps, focusing on location-based engagement for enterprises.
- An Adobe Experience Cloud for advanced, location-aware mobile applications.
- A Shopify for enterprise mobile apps, especially those needing advanced location-based features.
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- Phunware Mobile Engagement Platform (MEP): An enterprise cloud platform that provides a suite of software tools for companies to build, manage, and monetize their own mobile applications and digital experiences.
- Location-Based Services (LBS): Integrated within the MEP, these services offer indoor positioning, wayfinding, and proximity marketing capabilities for large venues like hospitals, airports, and stadiums.
- PhunCoin and PhunToken: A blockchain-enabled data monetization ecosystem that allows users to earn cryptocurrency rewards for their engagement and sharing of data.
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Phunware (PHUN) primarily sells its enterprise cloud platform and mobile engagement solutions to other companies (B2B), rather than directly to individuals. While Phunware serves a diverse range of clients, specific "major customers" that are individually named in public filings and account for a significant portion of revenue (e.g., >10%) are generally not disclosed. Phunware's platform is utilized by organizations across several key industries to enhance their mobile strategies and engage their own end-users.
Therefore, instead of specific named public companies, the following categories represent the types of enterprise customers Phunware serves:
- Healthcare Providers: Hospitals, large health systems, and clinics utilize Phunware's platform for patient engagement, digital wayfinding within complex medical campuses, appointment scheduling, and improving overall patient experience.
- Hospitality & Entertainment: Hotels, resorts, casinos, sports stadiums, and event venues leverage Phunware for guest and fan engagement applications, including mobile check-in, digital keys, loyalty programs, in-venue navigation, and concession ordering.
- Retail & Real Estate: Large retail chains, shopping malls, and commercial real estate developers use Phunware's solutions for in-store navigation, personalized promotions, property management, and enhancing the tenant or shopper experience within their physical spaces.
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- Amazon Web Services (part of Amazon - AMZN)
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Jeremy Krol Interim CEO
Jeremy Krol is a seasoned executive with a background in engineering, finance, and business operations strategy. Before joining Phunware, he served as a Fractional COO, providing strategic leadership to technology companies. He was also an advisor and coach at Platform Calgary, a technology innovation hub, and worked at Innovate Calgary, where he assessed the commercialization potential of university-based research. Earlier in his career, he was part of the investment banking team at Jennings Capital, advising on mergers, acquisitions, and equity financing strategies, and held various aerospace engineering roles.
Troy Reisner Chief Financial Officer
Troy Reisner was appointed Chief Financial Officer of Phunware in June 2023. He brings over 30 years of global financial and operational experience. Most recently, he served as CFO of Keystone Tower Systems for nearly four years. Prior to that, Mr. Reisner was a Partner at Deloitte & Touche for over 16 years, where he advised clients on various financing structures, counseled Audit Committee members on corporate governance, and managed complex accounting and SEC rules related to financial statement risk.
Randall Crowder Chief Operations Officer
Randall Crowder is passionate about new venture creation and the innovative spirit of entrepreneurs. He is an active investor and entrepreneur, having led over 40 angel investments and deployed more than $60 million across 14 companies as a venture capitalist. Mr. Crowder is a co-founder and Managing Partner at TEXO Ventures, focusing on tech-enabled health services, and the sole founder and Managing Partner at Nove- Ventures, investing in companies leveraging blockchain technology. Before TEXO, he led the Central Texas Angel Network (CTAN) and founded Texas Venture Labs (TVL) at the University of Texas. Prior to his venture and entrepreneurship career, Mr. Crowder served over six years as a Captain in the United States Army, Airborne and Ranger qualified, and was awarded two Bronze Stars for his actions during combat operations in Operation Iraqi Freedom.
Chris Olive EVP General Counsel
Prior to joining Phunware, Chris Olive was a partner for 15 years at Bracewell LLP. He also worked as an associate at Jones Day and served in the United States Army Judge Advocate General’s Corps. His experience includes diverse transactional and regulatory matters, such as complex credit facilities, structured financings, swaps and derivatives, corporate acquisitions, and related banking and financial regulatory issues.
Brendhan Botkin VP Accounting & Financial Reporting
Brendhan Botkin serves as Phunware's Vice President of Accounting and Financial Reporting. Previously, he was Phunware's Controller from 2017 to 2021. Before his time at Phunware, Mr. Botkin held CFO positions at Acuity Healthcare Solutions (2016-2017) and Circular Energy (2014-2015). He also served as Corporate Controller at Vast.com from 2011 to 2014 and Chief Financial Officer of Propane Direct Enterprises from 2009 to 2011.
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Key Risks to Phunware (PHUN)
Phunware (NASDAQ: PHUN) faces several significant risks that could materially impact its business and financial performance. These risks primarily revolve around the company's financial stability, its ability to generate consistent revenue, and its operational governance.
- Financial Instability and Unproven AI Monetization: Phunware has a history of significant operating losses and declining revenue, highlighting a precarious financial position. For instance, the company reported a 54.9% revenue drop in Q2 2025 and a 6.5% decrease in Q3 2025 compared to the previous year, alongside consistent net losses. While Phunware is strategically pivoting towards AI-driven enterprise software solutions, these new products, such as AI Concierge and Guest Services Agent, are still in developmental or pilot stages and have yet to contribute meaningfully to revenue. The company's high cash burn rate, driven by factors like rising R&D expenses and underperforming advertising revenue, raises concerns about its long-term financial sustainability despite having cash reserves.
- Customer Concentration Risk: Phunware's revenue stream is highly dependent on a limited number of clients, creating a significant vulnerability to customer churn. In 2024, three major clients accounted for 34% of the company's annual revenue, making it susceptible to substantial financial impact if any of these key customers were to reduce or cease their business with Phunware.
- Governance Issues and Leadership Instability: The company has faced governance challenges, including issues related to Nasdaq audit committee compliance and leadership transitions. These factors, such as the appointment of an interim CEO and unresolved litigation, contribute to regulatory uncertainty and can undermine investor confidence in the company's management and operational stability.
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- The potential for large technology companies (e.g., Google, Apple, Amazon) to significantly expand their offerings in enterprise mobile engagement and indoor location services, leveraging their vast ecosystems and resources to provide more integrated or cost-effective solutions that directly compete with Phunware's platform in its target verticals.
- Increasingly stringent global data privacy regulations (e.g., new state-level laws in the US, international regulatory expansions) which could severely restrict Phunware's ability to collect, use, and monetize user data, particularly impacting the viability and scalability of its PhunCoin and PhunToken initiatives, or substantially increasing compliance costs.
- The emergence and adoption of decentralized identity and data monetization platforms within the broader Web3 space, which could offer users more direct control and compensation for their personal data, potentially bypassing or rendering less competitive Phunware's centralized PhunCoin/PhunToken model for data value exchange.
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Addressable Markets for Phunware's Main Products and Services
Phunware (NASDAQ: PHUN) operates in several key markets with its integrated software platform and related services.
- Multiscreen-as-a-Service (MaaS) / Enterprise Cloud Platform for Mobile: This platform encompasses various solutions, including customer data platforms (CDP) and mobile marketing. The global Customer Data Platform (CDP) market is projected to exceed $10.3 billion by 2025. The global mobile marketing market was valued at $17.6 billion in 2022 and is expected to reach $91 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 17.8%.
- Location-Based Services (LBS): Phunware offers solutions for precise indoor positioning, navigation, wayfinding, and location-triggered messages. The global location-based services market was estimated at USD 59.65 billion in 2024 and is projected to grow to USD 236.34 billion by 2033, with a CAGR of 16.7% from 2025 to 2033. North America held the largest revenue share of over 40.0% in the global LBS market in 2024, and the U.S. LBS market is expected to grow at a CAGR of 15.6% from 2025 to 2033.
- Blockchain Solutions (PhunCoin/PhunToken): Phunware is involved in blockchain research and development, particularly for mobile app monetization and user interaction, including loyalty programs. The global customer loyalty program software market was valued at USD 4.1 billion in 2024 and is projected to reach USD 10.97 billion by 2032, exhibiting a CAGR of 13.07% from 2026 to 2032.
- Generative AI Tools (AI Concierge): Phunware has developed a new generative AI platform for mobile app design and content creation, with its AI Concierge currently in pilot testing within the hospitality sector. While the broader AI market is substantial, a specific addressable market size for "generative AI for mobile app design" or "AI Concierge" is not readily available. Therefore, the addressable market size for this specific product is null.
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Phunware (NASDAQ: PHUN) is strategically positioning itself for future revenue growth over the next 2-3 years through several key initiatives and market expansions:
- Expansion of Multiscreen-as-a-Service (MaaS) Platform in Key Verticals: Phunware is focused on expanding its MaaS platform, particularly within the hospitality and healthcare sectors. The company aims to increase its customer base in these industries by providing solutions such as the "Digital Front Door" for hospitals and multi-property solutions for enterprise clients. This expansion includes efforts to improve competitive positioning and demonstrate a clear return on investment (ROI) for customers.
- Development and Commercialization of AI-Powered Solutions: A significant driver is the introduction and commercial rollout of new artificial intelligence (AI) features. Specifically, Phunware is developing and piloting an "AI Concierge" and "Guest Services Agent" for the hospitality industry, which are designed to enhance guest engagement and operational efficiency. The broader strategy involves integrating generative AI across its software-as-a-service (SaaS) platform to personalize experiences and drive long-term growth.
- Growth in Recurring Software Subscriptions and Services Revenue: Phunware is transitioning towards a more software-centric business model, emphasizing recurring revenue from software subscriptions and services. Recent earnings reports indicate significant increases in software bookings, particularly from new customers, suggesting growing traction in this shift towards a more predictable revenue stream.
- Monetization of Patents and Intellectual Property: The company has explicitly outlined plans to "utilize and monetize its patents and other intellectual property." This strategy involves leveraging its existing portfolio to generate new revenue streams.
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```htmlCapital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Phunware announced a stock repurchase program on January 5, 2023, authorizing the buyback of up to $5 million of its outstanding common stock, to be completed over the subsequent 12 months.
- Phunware's 3-Year Share Buyback Ratio was -118.40%, suggesting a net issuance of shares rather than repurchases over the period.
Share Issuance
- In the nine months ended September 30, 2022, Phunware received $10.8 million in cash from financing activities, which included $3.7 million in proceeds from equity financings.
- For the third quarter of 2025, Phunware reported the issuance of common stock valued at approximately $4.5 million upon the conversion of a 2022 Promissory Note.
- During Q3 2025, common stock was also issued for the payment of bonuses and consulting fees, totaling approximately $35,000.
Inbound Investments
- Phunware secured a $2.85 million two-year loan from JP Morgan Chase under the United States SBA Paycheck Protection Program in April 2020.
- During the nine months ended September 30, 2022, the company generated $11.8 million in proceeds from its 2022 Promissory Note.
Capital Expenditures
- For the first quarter of 2022, Phunware reported capital expenditures of approximately $80,000.
- The company increased investments in sales and marketing from a pullback in 2024, including spending on brand and performance marketing and a new website slated for Q4 2025, with a focus on the hospitality and healthcare sectors.
- Operating loss for the nine months ended September 30, 2025, increased by approximately $3.576 million compared to the corresponding period in 2024, primarily due to increased investment in sales and marketing functions.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Phunware Earnings Notes | 12/16/2025 | |
| How Low Can Phunware Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 11.46 |
| Mkt Cap | 1.2 |
| Rev LTM | 628 |
| Op Inc LTM | -3 |
| FCF LTM | 99 |
| FCF 3Y Avg | 108 |
| CFO LTM | 159 |
| CFO 3Y Avg | 154 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.4% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 8.0% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | -2.0% |
| Op Mgn 3Y Avg | -1.3% |
| QoQ Delta Op Mgn LTM | 1.5% |
| CFO/Rev LTM | 25.8% |
| CFO/Rev 3Y Avg | 28.1% |
| FCF/Rev LTM | 18.8% |
| FCF/Rev 3Y Avg | 16.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.2 |
| P/S | 3.7 |
| P/EBIT | -12.9 |
| P/E | -6.3 |
| P/CFO | 9.1 |
| Total Yield | -4.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.9% |
| D/E | 0.2 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 9.7% |
| 3M Rtn | -18.3% |
| 6M Rtn | -20.1% |
| 12M Rtn | -4.1% |
| 3Y Rtn | -34.3% |
| 1M Excs Rtn | 11.8% |
| 3M Excs Rtn | -17.9% |
| 6M Excs Rtn | -21.1% |
| 12M Excs Rtn | -25.5% |
| 3Y Excs Rtn | -105.4% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Software Subscriptions & Services | 3 | ||||
| Advertising | 2 | ||||
| General & Administrative | 0 | ||||
| Application transaction | 1 | 2 | |||
| Platform subscriptions and services | 9 | 17 | |||
| Total | 5 | 10 | 19 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Advertising | 0 | ||||
| Software Subscriptions & Services | -6 | ||||
| General & Administrative | -40 | ||||
| Total | -46 |
Price Behavior
Price Behavior
| Market Price | $1.69 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/28/2016 | |
| Distance from 52W High | -54.4% | |
| 50 Days | 200 Days | |
| DMA Price | $1.84 | $2.50 |
| DMA Trend | down | down |
| Distance from DMA | -8.4% | -32.4% |
| 3M | 1YR | |
| Volatility | 55.7% | 62.6% |
| Downside Capture | 322.72 | 305.83 |
| Upside Capture | 235.61 | 197.98 |
| Correlation (SPY) | 51.7% | 56.5% |
PHUN Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.14 | 2.68 | 2.71 | 2.58 | 1.84 | 1.32 |
| Up Beta | 5.24 | 4.82 | 4.90 | 4.05 | 1.51 | 1.37 |
| Down Beta | 1.65 | 1.08 | 1.20 | 1.60 | 1.36 | 2.75 |
| Up Capture | 297% | 278% | 251% | 210% | 358% | 15% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 8 | 15 | 23 | 52 | 108 | 319 |
| Down Capture | 283% | 270% | 281% | 243% | 163% | 112% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 12 | 23 | 33 | 67 | 135 | 420 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PHUN | |
|---|---|---|---|---|
| PHUN | -41.9% | 62.5% | -0.63 | - |
| Sector ETF (XLK) | 24.6% | 27.2% | 0.79 | 56.2% |
| Equity (SPY) | 16.4% | 19.2% | 0.66 | 56.8% |
| Gold (GLD) | 77.1% | 26.1% | 2.17 | 4.9% |
| Commodities (DBC) | 19.6% | 17.1% | 0.89 | 18.4% |
| Real Estate (VNQ) | 3.1% | 16.6% | 0.01 | 35.8% |
| Bitcoin (BTCUSD) | -21.4% | 45.5% | -0.39 | 50.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PHUN | |
|---|---|---|---|---|
| PHUN | -54.4% | 313.9% | 0.31 | - |
| Sector ETF (XLK) | 16.2% | 24.7% | 0.59 | 7.5% |
| Equity (SPY) | 13.0% | 17.0% | 0.60 | 7.1% |
| Gold (GLD) | 24.2% | 17.2% | 1.14 | 0.2% |
| Commodities (DBC) | 11.9% | 19.0% | 0.51 | 1.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 5.2% |
| Bitcoin (BTCUSD) | 7.5% | 56.8% | 0.35 | 5.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PHUN | |
|---|---|---|---|---|
| PHUN | -46.5% | 256.6% | 0.31 | - |
| Sector ETF (XLK) | 22.2% | 24.2% | 0.84 | 9.5% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 9.7% |
| Gold (GLD) | 15.1% | 15.6% | 0.80 | 0.8% |
| Commodities (DBC) | 9.0% | 17.6% | 0.43 | 4.1% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.26 | 7.6% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 3.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | 0.4% | -1.3% | -5.3% |
| 8/8/2025 | -2.7% | 3.5% | 3.9% |
| 3/20/2025 | 2.1% | 6.9% | -12.8% |
| 11/7/2024 | -12.8% | -23.2% | -27.9% |
| 8/8/2024 | 9.2% | -4.3% | 3.4% |
| 3/12/2024 | -11.5% | -3.7% | -27.1% |
| 11/9/2023 | -12.4% | -17.1% | -46.6% |
| 8/10/2023 | -2.8% | -10.3% | -28.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 4 | 5 |
| # Negative | 13 | 15 | 14 |
| Median Positive | 6.8% | 7.8% | 7.8% |
| Median Negative | -4.1% | -12.1% | -25.7% |
| Max Positive | 9.4% | 13.0% | 27.8% |
| Max Negative | -15.6% | -24.7% | -46.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 04/07/2022 | 10-K |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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