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Phunware, Inc. key statistics and ratios

In fiscal 2025, Phunware, Inc. had return on equity of -11.2% and a net margin of -446.6%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−97.1%−31.7%−67.2%−222.0%−502.9%−780.5%<−999%−323.5%−446.6%−471.7%
Return on equity—−142.8%——−169.1%−112.9%—−21.6%−11.2%−14.0%
Return on assets−76.3%−27.7%−39.0%−72.9%−82.4%−66.6%−171.5%−17.0%−9.7%−12.1%
R&D as % of revenue41.6%22.6%22.6%26.3%39.3%94.3%92.1%71.0%123.9%134.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $94m
Short-term assets $93mLonger-term assets $1m
What it owes, and who funded it · $94m
Short-term liabilities $5mLonger-term liabilities $0mShareholders' equity $89m
  • Short-term assets cover short-term liabilities $93m of assets due within a year against $5m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $93m short-term assets against $324,000 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$22m against $36,000 of interest.

From Phunware, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

12 /100

Weak moat

How hard Phunware's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -48.8% of total assets over 9 years.

  • Pricing power 10 / 20

    Gross margin has been a median 52.4%, moving by 28.6 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -166.0%; its worst year was -938.8%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 5 years, at a median -341.4% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (27 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: PHUN vs SPAIPHUN vs TWAVBMR vs PHUN

More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from Phunware, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Phunware, Inc.