Phunware, Inc (PHUN) Fair Value & Analysis

Technology · US · Market cap $39.3M

Below-average quality, screening 87% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (25/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case ($2.63). The market is more pessimistic than our downside scenario.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range ($2.63 to $4.96) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $1.60 – $437.00 · fair‑value band $2.63 – $4.96 · the $2.13 price screens below the $3.98 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Phunware, Inc (PHUN) currently trades at $2.13, while our model-based Fair Value estimate is $3.98, implying the stock looks roughly 86.8% undervalued today. The Quality Score stands at 25/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at $2.4M. Revenue declined 21.2% year over year. It earns a return on equity of -11.1%. The balance sheet holds a net cash position of $100.0M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $2.63 (bear case) to $4.96 (bull case); at $2.13, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 87%, PHUN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Asset-Based ($3.16) versus Dividend Discount ($1.82). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Phunware, Inc., together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. It operates through two segments: software subscriptions and services and advertising.

Full company description

Phunware, Inc., together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. It operates through two segments: software subscriptions and services and advertising. The company offers cloud-based prepackaged vertical solution application, software development kit (SDK) licenses for organizations developing their own application and customized development services; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; mobile marketing automation; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement. It is also involved in the provision of cloud-based vertical solutions; in-app advertising services, including re-occurring and one-time transactional media purchases for application discovery, user acquisition and audience building, audience engagement, and audience monetization. The company was founded in 2009 and is headquartered in Austin, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Phunware, Inc reported revenue of $2.6M in FY2025 versus $10.6M in FY2021, a compound −30.0%/yr. Reported net income was −$11.4M in FY2025.

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Peer Group

Software - Application · 709 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Software - Application median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.