Subscribe To

Price Alert Latest News Economic Calendar News

PHUN / Phunware announces strategic cost-saving measures to accelerate path to profitability

Phunware Inc (NASDAQ:PHUN) told investors it plans to realize annual run-rate cost savings of upwards of $5 million through a series of strategic cost cuts aimed at improving its financial performance and positioning it for sustainable long-term success. In a statement, the company said it has made the “difficult but necessary decision” to reduce its workforce by about 33% across all departments as part of the strategic cost optimization efforts. Read More

Demo Live Account See Partner Details

Content Topics

Phunware

Announces

Strategic

Cost

Saving

Measures

Accelerate

Cost saving

Profitability

Stock

PHUN

Posted: Jul 20 2023, 09:12

Author Name: Proactive Investors

PHUN News

By Proactive Investors
November 2, 2023

Phunware to wind down Lyte Technology operations to reinforce core mission

Phunware Inc (NASDAQ:PHUN) has announced it is winding down the operations of its gaming PC manufacturer subsidiary Lyte Technology with immediate eff

By Proactive Investors
October 30, 2023

Phunware deploys enhanced Smart Hospitality Solution at Wailea Beach Resort

Phunware Inc (NASDAQ:PHUN) announced that as part of a three-year contract, it will be deploying its enhanced Smart Hospitality Solution at Wailea Bea

By Proactive Investors
October 27, 2023

Phunware appoints new CEO; expands corporate vision

Phunware Inc (NASDAQ:PHUN) announced that its chief revenue officer, Mike Snavely, has been appointed as the company's new CEO, effective immediatel

By Proactive Investors
October 16, 2023

Phunware inks deal with VHC Health for multi-year renewal of Digital Front Door app

Phunware Inc (NASDAQ:PHUN) has announced a five-year contract renewal to license its Digital Front Door and patented location-based services to VHC

By Proactive Investors
September 8, 2023

Phunware appoints tech veteran Mike Snavely as its chief revenue officer

Phunware Inc (NASDAQ:PHUN) announced that it has hired Mike Snavely as its new chief revenue officer, effective September 12, 2023. The enterprise c

By Proactive Investors
August 24, 2023

Phunware secures $30M equity facility to fuel growth

Phunware Inc (NASDAQ:PHUN) announced it has inked a purchase agreement for a committed equity facility worth up to $30 million with Lincoln Park Capit

By Zacks Investment Research
August 10, 2023

Phunware (PHUN) Reports Q2 Loss, Lags Revenue Estimates

Phunware (PHUN) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to loss of $0.

By Proactive Investors
August 10, 2023

Phunware reports 2Q progress toward rightsizing workforce and reducing cash burn

Phunware reported its financial results for the second quarter, during which the company made strides in setting itself up for future success, accordi

Risk Disclosure:

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
We would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.