PHUN - Phunware falls after Q2 earnings miss

Software platform provider Phunware ( PHUN ) lost ~7% of its value after Q2 results showed a miss on reported earnings.

The stocks have lost ~40% of its value year-to-date, and is at high risk of performing badly, according to a report by Seeking Alpha.

The company has inferior profitability and negative EPS revisions when compared to other IT stocks, to the point that it gets a Sell rating from Seeking Alpha's Quant Rating system.

For Q2 , GAAP EPS of -$0.17 misses by $0.12 and revenue of $5.5M (+292.9% Y/Y) misses by $0.3M.

Net Loss was $17.1M, inclusive of $12.2M impairment of digital assets. Non-GAAP adjusted EBITDA loss was $6.6M.

2022 revenue guidance of 250% Y/Y growth was reiterated. Consensus revenue estimates are $26M.

A new second half record for reported revenues is expected to be represented.

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