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10-Q: Q3 2024 Earnings Report

10-Q: Q3 2024 Earnings Report

10-Q:2024财年三季报
美股SEC公告 ·  2024/11/08 21:55

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Phunware reported Q3 2024 revenue of $0.7 million, down 47% from $1.3 million in Q3 2023, with a net loss of $2.8 million. Platform subscriptions and services revenue declined 33% to $0.5 million, while application transaction revenue fell 64% to $0.2 million. Gross margin was 48.4%, compared to 50.4% in the prior year period.The company significantly reduced operating expenses to $3.5 million from $13.9 million year-over-year, driven by lower headcount and decreased stock-based compensation. Sales and marketing expenses dropped 26% to $0.6 million, while general and administrative costs fell 24% to $2.3 million. Research and development spending decreased 41% to $0.6 million.As of September 30, 2024, Phunware held $35.5 million in cash and completed repayment of its 2022 Promissory Note through stock conversions. The company entered into an amended equity distribution agreement with Canaccord to increase its at-the-market facility to $171.5 million. Management believes current cash reserves are sufficient for at least 12 months of operations.
Phunware reported Q3 2024 revenue of $0.7 million, down 47% from $1.3 million in Q3 2023, with a net loss of $2.8 million. Platform subscriptions and services revenue declined 33% to $0.5 million, while application transaction revenue fell 64% to $0.2 million. Gross margin was 48.4%, compared to 50.4% in the prior year period.The company significantly reduced operating expenses to $3.5 million from $13.9 million year-over-year, driven by lower headcount and decreased stock-based compensation. Sales and marketing expenses dropped 26% to $0.6 million, while general and administrative costs fell 24% to $2.3 million. Research and development spending decreased 41% to $0.6 million.As of September 30, 2024, Phunware held $35.5 million in cash and completed repayment of its 2022 Promissory Note through stock conversions. The company entered into an amended equity distribution agreement with Canaccord to increase its at-the-market facility to $171.5 million. Management believes current cash reserves are sufficient for at least 12 months of operations.
Phunware报告2024年第三季度营业收入为70万美元,比2023年第三季度的130万美元下降了47%,净亏损为280万美元。平台订阅和服务收入下降了33%,至50万美元,而应用程序交易收入下降了64%,至20万美元。毛利率为48.4%,而去年同期为50.4%。公司显著减少了营业费用,从去年同期的1390万美元降低至350万美元,主要由于员工人数减少和股权薪酬降低。销售和市场费用下降了26%,至60万美元,而一般和行政费用下降了24%,至230万美元。研发支出下降了41%,至60万美元。截至2024年9月30日,Phunware持有3550万美元现金,并通过股票转换完成了对2022年 promissory note 的偿还。公司与Canaccord达成了一项修订的股权分配协议,以将其市场设施增加至17150万美元。管理层认为目前的现金储备足以支持至少12个月的运营。
Phunware报告2024年第三季度营业收入为70万美元,比2023年第三季度的130万美元下降了47%,净亏损为280万美元。平台订阅和服务收入下降了33%,至50万美元,而应用程序交易收入下降了64%,至20万美元。毛利率为48.4%,而去年同期为50.4%。公司显著减少了营业费用,从去年同期的1390万美元降低至350万美元,主要由于员工人数减少和股权薪酬降低。销售和市场费用下降了26%,至60万美元,而一般和行政费用下降了24%,至230万美元。研发支出下降了41%,至60万美元。截至2024年9月30日,Phunware持有3550万美元现金,并通过股票转换完成了对2022年 promissory note 的偿还。公司与Canaccord达成了一项修订的股权分配协议,以将其市场设施增加至17150万美元。管理层认为目前的现金储备足以支持至少12个月的运营。
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