Phunware Inc. (NASDAQ: PHUN) stock surged by 0.26% at last close while the PHUN stock price gained by 5.37% in the after-hours trading session. Multiscreen-as-a-Service (MaaS), an award-winning, completely integrated enterprise cloud platform for mobile, was invented by Phunware. It gives businesses the tools, data, and services they need to connect, control, and market their mobile app portfolios and audiences on a worldwide scale.

PHUN stock’ Financial Highlights

Phunware reported its financial results for the third quarter of 2021. Given below are the highlights:

• The net revenue generated for the third quarter of 2021 was $2.2 million.
• For the third quarter of 2021, the net income was $0.4 million.
• The net income per share for the third quarter of 2021 was $0.01.
• The Non-GAAP Adjusted EBTIDA Loss for the third quarter of 2021 was $2.5 million.
• For the third quarter of 2021, the company generated $1.8 million as Multiscreen-as-a-Service (MaaS) Platform Subscriptions and Services Revenues.

Alan S. Knitowski, President, CEO, and Co-Founder of Phunware commented,

They’re ecstatic to report a 50 percent increase in organic net sales from quarter to quarter. It illustrates that their MaaS enterprise cloud platform for mobile is now getting the benefit of their direct and indirect go-to-market methods. On a number of fronts, their staff performed admirably in the previous quarter. They’re closing partnerships with a number of notable new clients and partners across several industries, including scaling their dual token economy while following their inorganic growth plan and completing the purchase of Lyte Technology.

In addition to the stated organic growth, the closure of Lyte brings immediate profitability, backlog, and development. This will enable them to scale and expedite their blockchain projects by leveraging a new, strategic distribution system to customers. Phunware has had a significant and promising year, and he is optimistic that as they enter 2022, they will be blazing on all cylinders with a dynamic organic and inorganic development strategy that will position them for massive growth.