Filing Flows › Phunware (PHUN) › Q3 2025
Phunware (PHUN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Phunware (PHUN) reported revenue of $622K for the third quarter 2025 (Q3 2025), -6% from a year earlier and +37% from the quarter before. Operating margin was -562.7%, net loss $2.4M (387.3% of revenue).
Phunware, Q3 2025: revenue $622K (-6% year over year), operating margin -562.7%, net loss $2.4M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $622K | +37% | -6% |
| Operating profit | −$3.5M | — | — |
| Net earnings | −$2.4M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $622K in Q3 2025, down 6% year over year and up 37% from the previous quarter. Software Subscriptions and Services was the largest line at 72% of revenue. Advertising lost $25K year over year (down 12%), 58% of the total change.
Gross margin was 46.1%, down 2.3 points from a year earlier. Operating costs exceeded revenue by $3.5M, an operating margin of -562.7%. Operating expenses grew 8% against a revenue fall of 6%. The fastest-growing cost line was Sales & marketing (+29%). The quarter ended with a net loss of $2.4M, narrower than the previous quarter's $3.1M loss. Non-operating items added $1.1M, -45% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.5M. Non-cash charges added back $134K of share-based compensation. Working capital and other items used $206K.
Questions
What was Phunware's revenue in the third quarter 2025?
Phunware (PHUN) reported revenue of $622K for the third quarter 2025 (Q3 2025), -6% from a year earlier and +37% from the quarter before.
Was Phunware profitable in the third quarter 2025?
Operating loss was $3.5M (-562.7% of revenue) and net loss $2.4M.
Source: Phunware 10-Q on SEC EDGAR.