Phunware Inc Down 6.49% To $0.69 After Earnings Miss

Phunware Inc (PHUN) said after close Thursday that it lost $0.1 per share in quarter four 2022.

On the revenue line, the company reported $4.8 million, missing estimates by $697 thousand.

In the same quarter a year ago, the company lost $0.4 per share on revenue of $5.4 million.

The stock is down 6.49% to $0.69 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Phunware Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 14, putting Phunware Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.74 on March 20, 2023 and set a 52-week high on March 30, 2022 at $3.03.

Phunware Inc is a software company. It is a Multiscreen as a Service (MaaS) integrated enterprise software platform for mobile that provides companies with the products, solutions, and data and services necessary to engage, manage and monetize its mobile application audiences.