Shares of Texas-based technology firm Phunware (NASDAQ:PHUN) stock are getting a major boost on Tuesday morning. The move comes on the day that Phunware will present its blockchain roadmap at the Proactive Investors One2One Investor Forum slated for later in the day.
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So, what is Phunware? Let’s dive deeper into the company profile to find out.
- The firm launched back in 2009, and focuses on mobile applications, as well as location tracking and advertising software.
- Phunware pioneered Multiscreen-as-a-Service (MaaS), which is a “fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale.”
- It offers a number of different services with its impressive lineup of strategic tech partners.
- The firm’s products include mobile engagement, location services, content management, audience monetization and of course, blockchain.
- According to the company’s website, its solutions range from assisting election campaigns and navigating through an airport, to helping media companies connect with viewers and a response to the novel coronavirus pandemic.
- Phunware also boasts an impressive customer list, and says it is “tested and scalable to 25 million concurrent users.”
- In its most recent quarter, the firm reported revenues of $3.13 million — an increase of more than 42% quarter-over-quarter.
- $2.86 million of the the total revenue emerged from Phunware’s MaaS platform subscriptions and services.
- The company also said its gross margin for the quarter came in at 71.3%.
- For a bit of a preview regarding Tuesday’s presentation, read more here.
PHUN stock was up 36% as of Tuesday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
