Phunware Inc. Common Stock (PHUN)

FairStock Score: 62/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Phunware is a tiny mobile software and advertising company with 26 employees. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported revenue of $799,000 and a net loss of $5.2 million. For FY2025, the year ended 2025-12-31, revenue was $2.6 million and net loss $11.4 million. FY2024 revenue was $3.2 million and net loss $10.3 million; FY2023 revenue was $4.8 million and net loss $52.8 million. Revenue has shrunk over three years, and losses persist. The trailing free cash flow is -$14.1 million, a -34.0% FCF yield on the $41.5 million market cap at the 2026-10-13 close. FairStock calculations show P/B 0.47, P/E -3.12, ROE -13.72%, ROCE -13.34%, Piotroski 3/9, and Altman Z 0.92. Low D/E of 0.01 is a modest positive, but the balance sheet is not producing profits. No durable moat is visible; a 26-person firm with sub-$1 million quarterly revenue lacks pricing power or scale. The Lynch category is none, because the company has lost money in each of the last four years. The price may look statistically cheap, but a negative P/E and negative free cash flow mean there are no earnings to value. Beta of 2.64 signals volatility. Until revenue becomes recurring, costs are cut, and cash flow turns positive, this is speculation, not a Graham-style bargain. I would require a clear path to profit and positive owner earnings before considering the equity worth more than its liquidation-like book value.

In plain English: Phunware provides mobile software and advertising tools to companies. The business looks weak: it is very small, has lost money for years, and is burning cash. At the 2026-10-13 close of $2.03, the shares look cheap compared with the company’s accounting value, but the continuing losses make that cheapness uncertain rather than a clear bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer