Phunware Inc PHUN shares are trading lower by 12% at $0.96 after the company reported worse-than-expected second-quarter EPS and sales results.
“We are pleased with the efforts our team has made to build the pipeline and drive new customer and partner relationships in the face of continued headwinds from the COVID-19 pandemic,” said Matt Aune, CFO of Phunware.
“These relationships take time to build, but we are pleased to see that total backlog is trending up quarter over quarter and we are working hard to build off that momentum into the second half of 2021. Phunware is well-positioned for success as we continue to reduce liabilities, eliminate debt and focus efforts on both organic and inorganic growth opportunities,” Aune stated.
Phunware has a 52-week high of $3.34 and a 52-week low of $0.60.
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