Phunware, Inc.

Revenue Increased 76% Year-Over-Year, Gross Margin Expanded to 69% Maintained $92 Million Cash Position with No Debt to Support Continued Product Innovation and Growth Appointed Chief Executive Officer and Senior Vice President of Sales and AI and Digital Transformation Veterans to Lead Company's Next Phase of Growth AUSTIN, Texas, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a mobile-first enterprise guest intelligence platform company delivering location-aware guest intelligence and AI-enabled guest engagement tools, today reported financial results for the second quarter ended June 30, 2026. Financial Highlights Net revenue increased 76% to $0.8 million in the second quarter of 2026, compared to $0.5 million in the second quarter of 2025 as a result of a customer-initiated early contract termination. For the first six months of 2026, net revenue increased 17% to $1.3 million, compared to $1.1 million in the prior-year period. Gross margin improved to 69.0% in the second quarter of 2026 from 41.8% in the prior-year period and increased to 69.7% for the first six months of 2026 from 48.0% in the prior-year period. Cash and cash equivalents totaled $92.1 million as of June 30, 2026, with no debt, providing significant financial flexibility to execute the Company's growth strategy. Net loss was $5.2 million, or ($0.26) per basic and diluted share, in the second quarter of 2026, compared to a net loss of $3.1 million, or ($0.16) per basic and diluted share, in the prior-year period. The increase primarily reflects continued investment in product, sales and marketing, research and development, and general and administrative initiatives supporting the Company's 2.0 Strategy. Net loss was $8.4 million, or ($0.42) per basic and diluted share, in the first six months of 2026, compared to a net loss of $6.9 million, or ($0.34) per basic and diluted share, in the prior-year period. Adjusted EBITDA loss was $5.5 million in the second quarter of 2026, compared to an Adjusted EBITDA loss of $4.1 million in the prior-year period. Adjusted EBITDA loss was $9.5 million in the first six months of 2026, compared to an Adjusted EBITDA loss of $8.9 million in the prior-year period. Net cash used in operations was $8.5 million for the six months ended June 30, 2026, as compared to $6.8 million for the prior-year period. Recent Business Highlights Continued execution of the Company's 2.0 Strategy, unifying Phunware's mobile, location-aware, and AI capabilities into a single AI-enabled Guest Intelligence Platform designed for hospitality, healthcare, and other complex physical environments. Appointed Dmitry Kroshka as Chief Executive Officer, effective May 13, 2026, to lead execution of the Company's strategic transformation. Engaged Michael Cerdá and his AI-first product transformation firm, Build Something Product Group, to accelerate the Company's 2.0 product development and execution. Appointed hospitality technology veterans Nick Farrell and Brent McMahan as Senior Vice President of Sales and Senior Director of Sales, respectively, to expand the Company's hospitality business development efforts. Showcased the Company's expanding AI-enabled Guest Intelligence Platform at HITEC North America 2026, featuring live demonstrations of AI Concierge, the AI Itin

Company Adds Senior Hospitality Sales Leader and Fortune 500 AI and Digital Transformation Veterans to Accelerate Commercial Growth Appointments Build on HITEC 2026 Momentum and Support Continued Expansion of the Company’s Guest Intelligence Platform AUSTIN, Texas, July 30, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. ("Phunware" or the "Company") (NASDAQ: PHUN), a mobile-first enterprise guest intelligence platform company delivering location-aware guest intelligence and AI-enabled guest engagement tools, today announced a series of key appointments following its successful showing at The Hospitality Industry Technology Exposition and Conference ("HITEC") North America 2026 in San Antonio, Texas. The Company has appointed Nick Farrell as Senior Vice President of Sales and has added technology industry veterans Aaron Holloway and Michael Crooks as advisors. The appointments follow strong momentum generated at HITEC, where Phunware’s live demonstrations of its Guest Intelligence Platform, including its AI Concierge and AI Itinerary Builder, drove meaningful engagement across the hospitality industry. As part of Product and Sales efforts tied to Phunware’s 2.0 Plan, Wailea Beach Resort has entered an agreement to use AI Concierge. AI Concierge, Mobile Engagement, and Itinerary Builder are part of Phunware’s Guest Intelligence Platform, which connects Wayfinding and other Location-Based Services to property data, creating a guest experience that personalizes each property’s unique offerings to what guests want and where they are in real-time. "Coming out of HITEC, our priority is converting industry momentum into commercial results, and these expansions and appointments do exactly that," said Dmitry Kroshka, Chief Executive Officer of Phunware. "Nick brings deep hospitality enterprise sales leadership at precisely the moment we are scaling our go-to-market organization, while Aaron and Michael add world-class domain expertise across healthcare technology, AI and large-scale digital transformation. Together they strengthen our ability to serve hospitality and healthcare customers and accelerate the rollout of our Guest Intelligence Platform." Nick Farrell joins Phunware as Senior Vice President of Sales, where he will lead the Company’s hospitality sales organization and commercial growth strategy. Prior to joining Phunware, he held sales and commercial leadership roles at IDeaS Revenue Solutions, partnering with many of the world’s leading hotel brands, management companies and ownership groups to drive revenue growth through technology, data and strategic transformation. "Phunware sits at the center of two priorities every hotel operator shares today: delivering a more personalized guest experience and finding new sources of revenue," said Nick Farrell, Senior Vice President of Sales of Phunware. "The Guest Intelligence Platform, AI Concierge and Itinerary Builder give properties practical, proven tools to do both. I am excited to build on the momentum from HITEC and help our customers put this technology to work." Aaron Holloway is a seasoned product leader and innovator known for his expertise in developing advanced technology solut

Board and Management Reaffirm Confidence in the Company’s 2.0 Strategy, Supported by Strong Balance Sheet and Experienced Leadership Company Addresses Goldenwise Statements Regarding Capital, Governance, Board Leadership, and Goldenwise’s Interests AUSTIN, Texas, July 16, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. ("Phunware" or the "Company") (NASDAQ: PHUN), a mobile-first enterprise guest intelligence platform company delivering location-aware guest intelligence and AI-enabled guest engagement tools, today issued the following statement in response to the amended Schedule 13D and attached open letter recently filed by Goldenwise Capital Group and its principal, Huakun (Richard) Ding (the "Goldenwise Materials"). Phunware’s Board of Directors (the "Board") and management team value the perspectives of all shareholders and share the common objective of building long-term value. Unfortunately, the Goldenwise Materials do not provide a coherent or actionable long-term value creation plan and contain errors, misleading statements, and mischaracterizations. Goldenwise further demands that the Board act on impractically short and artificial deadlines while threatening litigation, adverse publicity, and proxy activity if Goldenwise’s demands are not accepted within these arbitrary time frames. In sum, the Goldenwise Materials lack credibility, are disingenuous in their approach to understanding our strategy and governance, demand compromises to our fiduciary processes, contain a number of factual errors including omissions and unsupported assertions, and present a distraction from the Company’s execution of its 2.0 Strategy. Phunware welcomes input from and constructive engagement with all of its shareholders, and we are united with every shareholder in the goal of creating and building long-term value. However, Goldenwise's communications have followed a revealing pattern: demand expansion of the Board and Board seats before presenting a credible rationale for those actions; refuse the customary protections required for a substantive private dialogue and then complain that the dialogue was limited; demand transparency from others while leaving its own economic exposure opaque; and claim to be constructive while imposing deadlines backed by threats of litigation and publicity. The Company believes that the Board should not place the demands of one shareholder above the interests of all Phunware shareholders. Phunware’s Board and management team remain focused on executing the Company's 2.0 Strategy, advancing the AI-enabled Guest Intelligence Platform, and seeking to leverage the Company’s technology, customer base, and strong balance sheet into commercial momentum and long-term value for all shareholders. The Goldenwise Materials, however, contain numerous factual errors, material omissions, and unsupported assertions that lack credibility, and the Company does not believe that attempting to address each of them individually would be a productive use of its time and resources. The Company’s strategy is supported by a strong, debt-free balance sheet, an experienced leadership team, and growing product momentum, including inorganic growth. The Company is confident this strategy is the right path forward for Phunware and all of its shareholders. Goldenwise Has Presented No Credible Value Creation Plan, Just Demands for Board Seats The Company has engaged with Mr. Ding through multiple video calls and extensive written exchanges. The Company invited him several times to identify a credible and specific operating plan, product strategy, acquisition framework, capital-allocation proposal, or communications plan that differs meaningfully from the course Phunware is already pursuing. The Company also asked him t

AUSTIN, Texas, June 26, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. ("Phunware" or the "Company") (NASDAQ: PHUN), a mobile-first enterprise guest intelligence platform company delivering location-aware guest intelligence and AI-enabled guest engagement tools, today announced that it made an inducement grant to Dmitry Kroshka in connection with his employment as Phunware’s new Chief Executive Officer, effective May 13, 2026. Such grant was made under the Phunware, Inc. 2026 Inducement Plan, which was approved and adopted on June 18, 2026 by Phunware’s Board of Directors. The Board grant was made pursuant to the Inducement Plan under the terms of (1) a time vested award of an aggregate of 105,820 restricted stock units (the “Time Vested RSUs”), (2) a performance vested award of an aggregate of 317,460 restricted stock units (the “Performance Vested RSUs”) and (3) a stock option for the purchase of up to an aggregate of 105,820 shares of common stock (the “Stock Option,” and collectively with the Time Vested RSUs and Performance Vested RSUs, the “Awards”). The grant of the Awards was provided for in Mr. Kroshka’s employment agreement described in the Form 8-K filed by Phunware with the SEC on May 18, 2026. The grant of the Awards was approved by Phunware’s Compensation Committee on June 25, 2026 pursuant to a delegation by the Board and was issued as an equity grant pursuant to Nasdaq Listing Rule 5635(c)(4), as an inducement material to Mr. Kroshka entering into employment with Phunware. The Time Vested RSUs are subject to a three-year vesting schedule commencing on May 13, 2026, with one-third of the restricted stock units vesting on the first anniversary of the commencement date, and the remaining amount vesting in equal quarterly installments thereafter, subject to Mr. Kroshka’s continued employment. The Performance Vested RSUs are subject to vesting upon the Company’s achievement of a volume weighted average price at or above $5.00 per share for 20 days and revenue of at least $4.5 million for a trailing 12 month period (excluding professional services revenue), which may be pro-rated in the event that the Company terminates Mr. Kroshka without cause within a year. The Stock Option shall be exercisable at a price of $5.00, subject to a four-year vesting schedule commencing on May 13, 2026, with one-quarter of the shares vesting on the first anniversary of the commencement date, and the remaining amount vesting in equal quarterly installments thereafter, subject to Mr. Kroshka’s continued employment. About Phunware Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions for hospitality, healthcare and other large property related customers, with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences. Phunware’s mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, and market participants. Phunware is poised to expand its software products and services audience through new generative AI products and product enhancements which are in development, utilize and monetize its patents and other intellectual property, and focus on serving its enterprise customers and partners. For more information on Phunware, please visit https://www.phunware.com/. <st

Company Appoints Industry Veteran and Former FLYR Hospitality Executive Brent McMahan as Senior Director of Sales Management and New Senior Director of Sales to Preview Innovative Location-Aware Intelligence Capabilities Designed to Increase Guest Engagement and Ancillary Revenue AUSTIN, Texas, June 11, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. ("Phunware" or the "Company") (NASDAQ: PHUN), a mobile-first enterprise guest intelligence platform company delivering location-aware guest intelligence and AI-enabled guest engagement tools, today announced it will exhibit at The Hospitality Industry Technology Exposition and Conference (“HITEC”) North America 2026 in San Antonio, Texas on June 15 – 18, 2026. HITEC is the world's largest, longest-running hospitality technology conference. In conjunction with the conference, the Company announced the appointment of Brent McMahan, a hospitality technology veteran formerly with FLYR Hospitality, as Senior Director of Sales and provided a preview of upcoming enhancements to its Guest Intelligence Platform designed to grow ancillary revenue for hospitality customers. About Brent Brent McMahan brings more than a decade of experience in hospitality technology, most recently serving at FLYR Hospitality, where he led enterprise sales efforts focused on helping hotels and hospitality groups optimize commercial strategy through AI-driven commercial solutions. His background in hospitality operations, revenue strategy, and enterprise software aligns closely with Phunware’s focus on expanding its Guest Intelligence Platform across independent luxury resorts, full-service hotels, and hotel management groups. “Brent joins Phunware at an important time as we expand our hospitality sales efforts and continue to bring more AI-enabled, location-aware capabilities to market,” said Dmitry Kroshka, Chief Executive Officer of Phunware. “His experience at the intersection of hospitality operations, revenue strategy, and technology gives him a clear understanding of the challenges our customers face and the outcomes they are trying to achieve. We are excited to welcome Brent to the team and we look forward to his contributions as we deepen our relationships across the hospitality industry.” “What drew me to Phunware is the quality of the platform and the clarity of the vision,” said Brent McMahan, Senior Director of Sales of Phunware. "Hospitality operators are under real pressure to deliver more personalized, seamless guest experiences while identifying new ways to grow revenue. Phunware's mobile-first approach is built to address both priorities by helping properties better understand and serve their guests throughout their stay. I am excited to work with properties that are ready to use technology to better serve their guests and improve their bottom line." HITEC North America 2026Date: June 15 – 18, 2026Location: Henry B. González Convention Center in San Antonio, TexasAttendees: CEO Dmitry Kroshka and Senior Director of Sales Brent McMahan Format: The Company will offer live demonstrations of its Guest Intelligence Platform, including three key capabilities: AI Concierge — Deployed and Driving Measurable Guest Engagement Phunware’s AI Concierge module, commercially released in January 2026, is generating strong engagement results across deployed proper

Leadership Changes Align Strategy, Product Execution, and Commercial Rollout of Phunware’s Next-Generation Guest Intelligence Platform Company to Accelerate Product 2.0 Strategy Across Hospitality, Healthcare, and Large-Property Environments AI Concierge Momentum, 95%+ Customer Retention, and Strong Cash Position Provide Foundation for Next Phase of Growth AUSTIN, Texas, May 14, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a mobile-first enterprise cloud platform delivering location-aware customer intelligence and AI-enabled audience engagement tools, today announced a leadership transition and product strategy update designed to accelerate the Company’s 2.0 Strategy and expand its footprint across hospitality, healthcare, and other large-property verticals. Effective immediately, Dmitry Kroshka has been appointed Chief Executive Officer. Mr. Kroshka has served as a senior advisor to Phunware since October 2025, working with the Company on growth strategy, product direction, and the development of its next-generation Guest Intelligence Platform. He will now lead the Company’s 2.0 Strategy, with a focus on converting Phunware’s mobile, location-aware, and customer engagement capabilities into a unified, AI-enabled platform for complex physical environments. Jeremy Krol, who has served as interim CEO, will return to his Chief Operating Officer role. Mr. Kroshka brings more than two decades of experience across AI, hospitality technology, marketing technology, SaaS, digital media, and consumer platforms, including leadership and advisory roles with Oracle, FCB Global, FOX Digital Entertainment, Spark Brands, and multiple venture-backed technology companies. His background in product strategy, revenue growth, customer engagement, and data-driven marketing aligns with Phunware’s focus on scaling its next-generation Guest Intelligence Platform. In addition, Phunware has engaged Build Something Product Group (“BSPG”), the AI-first product and transformation practice founded by Michael Cerdá, to help lead the Company’s product strategy and Product 2.0 rollout. Cerdá, whose prior product leadership includes Disney+, Marcus by Goldman Sachs (Apple Card), and Facebook Newsfeed, will serve as Phunware’s senior product leader through the BSPG engagement. BSPG will also embed additional proven AI product and engineering leadership alongside the Phunware team to accelerate product development and commercial rollout. The leadership changes come as hospitality, healthcare, and large-property operators increasingly seek platforms that can connect mobile engagement, indoor location, behavioral data, and AI-driven personalization in real time. While traditional hospitality, CRM, and Martech systems generally help operators understand who the customer is and what the customer has done, Phunware’s 2.0 Strategy is focused on helping operators better understand what guests are doing on-property and how to respond while those interactions are still happening. “Phunware is entering a defining chapter,” said Dmitry Kroshka, Chief Executive Officer of Phunware. “The Company has a strong installed base across marquee hospitality and healthcare properties, a more disciplined product portfolio, emerging AI Concierge momentum, and a strong cash position with no debt. Our objective now is to turn that foundation into focused execution.” “Product 2.0 is about making Phunware’s capabilities more unified, more intelligent, and easier for customers to deploy. We believe our location-aware deployments, mobile engagement tools, and real-world behavioral data create a strong foundation for AI-enabled guest intelligence across hospitality, healthcare, and adjacent large-

Management Expected to Host Investor Webinar in Conjunction with Upcoming Product Announcements &amp; Display at HITEC North America 2026, World’s Largest Hospitality Technology Conference AUSTIN, Texas, May 07, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today reported financial results for the first quarter ended March 31, 2026. Financial Highlights Net revenue decreased 21% to $0.5 million in Q1 2026, as compared to $0.7 million in Q1 2025. Gross margin improved to 70.8% in Q1 2026, as compared to 52.2% in Q1 2025. Net loss improved to $3.2 million in Q1 2026, as compared to a net loss of $3.7 million in the previous year period. Net loss per basic and diluted share was ($0.16) in Q1 2026, as compared to ($0.18) per basic and diluted share in Q1 2025. Net cash used in operations decreased to $2.7 million for the three months ended March 31, 2026, as compared to $3.3 million for the previous year period. Cash and cash equivalents totaled $97.9 million as of March 31, 2026. Recent Business Highlights Introduced two hospitality specific products, one for luxury brands and the other for full-service independent property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates and a range of solutions for enhancing on-property guest experiences and engagements and ancillary revenue growth. Launched a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues. Continued investment in artificial intelligence (“AI”) to employ and integrate within our internal systems and product and services offerings. Continued development and release of our AI Concierge product, which is designed to personalize customer guest journeys through real-time wayfinding, Q&amp;A and on-property recommendations. Final settlement and dismissal of legacy legal proceedings in early 2026. Management Commentary "The first quarter reflects a Company executing with focus and discipline," said Jeremy Krol, Interim CEO of Phunware. "During the quarter, we concentrated on tightening the product foundation that our commercial growth depends on. This included productizing our hospitality offering into two purpose-built tiers, advancing AI Concierge from pilot to commercial release, refining our portfolio to better address the needs of large-scale hospitality and healthcare property customers and ramping up AI-related research and development to evolve our platform and products for the next iteration. We focused on optimizing our product offering in lieu of near-term bookings velocity, and we believe this will position Phunware for higher-quality commercial momentum and ultimately achieving our strategic vision. "We productized our hospitality product offering into two distinct tiers that address what we believe are the most acute economic challenges facing large-scale hotels and resorts: captur

Evolution to Focus on Hospitality and Related Markets, Steady Product Revenue, Customer Growth and Expanding Leadership Team Exits FY25 with Strong Cash Position to Accelerate AI Platform and Products and New Corporate Initiatives AUSTIN, Texas, March 20, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today reported financial results for the fourth quarter and year ended December 31, 2025. Financial Highlights Net revenue increased 33% to $0.8 million in Q4 2025, as compared to $0.6 million in Q4 2024. Gross margin improved to 57.7% in Q4 2025, as compared to 23.3% in Q4 2024, a 3,443 basis point improvement. Net loss improved to $2.1 million in Q4 2025, as compared to a net loss of $2.6 million in the previous year period. Net loss per basic and diluted share was ($0.11) in Q4 2025, as compared to ($0.15) per basic and diluted share in Q4 2024. FY 2025 net revenue decreased to $2.6 million from $3.2 million in FY 2024. FY 2025 gross margin increased 500 basis points to 50.6%, as compared to 45.6% in the prior year period. FY 2025 net loss was $11.4 million, or ($0.57) per basic and diluted share, compared to a net loss of $10.3 million, or ($0.94) per basic and diluted share in FY 2024. Net cash used in operations decreased to $12.5 million for the year ended December 31, 2025, as compared to $13.3 million for the previous year period. Cash and cash equivalents totaled $100.6 million as of December 31, 2025. Recent Business Highlights Introduced two hospitality specific products, one for luxury brands and the other for full-service independent property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates and a range of solutions for enhancing on-property guest experiences and engagements and ancillary revenue growth. Launched a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues. Continued investment in artificial intelligence (“AI”) to employ and integrate within our internal systems and product and services offerings. Continued development and release of our AI Concierge product, which is designed to personalize customer guest journeys through real-time wayfinding, Q&amp;A and on-property recommendations. Announced election of Ed Lu to the Board of Directors, bringing financial, strategic and operational leadership experience to guide the Company's finance and technology strategy and customer initiatives. Appointed Elliot Han, a director of the Company since 2024 with experience in corporate finance and investments in digital asset companies, as Chairperson of the Board of Directors. Appointed Jeremy Krol, our Interim CEO, to the B

Showcases Phunware’s Introduction of Two Hospitality Specific Products, One for Luxury Brands and the Other for Full-Service Property Owners AUSTIN, Texas, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile-first software products, solutions, data, and services to enable customers to engage, manage, and monetize their global audiences, today introduced a redesigned corporate website and a refined portfolio of products for enhancing hospitality guest-related experiences, engagements and revenues. Phunware’s redesigned corporate website reflects the evolution of its pioneering capabilities and forward-thinking approach to mobile software products and solutions with a focus on the large and growing hospitality market. The dynamic, user-friendly, and content-rich website showcases a refined product portfolio and highlights how Phunware's advanced location and wayfinding capabilities continue to remove friction, enhance guest experiences and interactions across hospitality touchpoints to build relationships and loyalty, and free up hospitality staff to deliver other higher-touch guest services. The website notably showcases Phunware’s introduction of two hospitality specific products, one for luxury brands and the other for full-service property owners, which provide solutions for developing modular, native mobile apps, with cloud-driven updates, and range of solutions for enhancing on-property guest experiences and engagements, and ancillary guest revenue growth. These solutions address critical needs for large spatially complex hotels and resorts that offer a variety of on-site amenities and events. “When I stepped in as CEO, my mandate was simple: focus and double down on where we deliver the most value. We looked at the data, and it was clear that our platform can and should be used to fundamentally change the economics of large hotels and resorts,” said Jeremy Krol, Interim CEO of Phunware. The Luxury Engagement product tier, developed for premium luxury hospitality brands, delivers fully-personalized digital guest experiences and engagements and takes advantage of Phunware’s deep wayfinding capabilities to provide guests with a branded, immersive companion throughout each guest’s on-property journey. It was developed to anticipate needs, enhance discovery, reinforce a brand’s premium identity at every touchpoint, and increase guest relationships and revenues. The Enriched Experience product tier, developed for full service hospitality properties, delivers options to elevate guest engagement across meaningful touchpoints, drive discovery, and expand and reinforce guest revenue opportunities, all of which builds on core services for deeper interactivity, more curated ways to explore the property, and more intelligent and dynamic guest engagement with services, amenities and events. “We’re building software solutions designed to eliminate friction.” Krol added. “When a guest doesn't have to wander through a maze with a paper map to find his or her room or come back tomorrow to book a spa appointment because the spa just closed, the guest’s vacation starts instantly. At properties running Phunware hospitality software, we are seeing guest app adoption rates exceed 70%. That level of guest engagement is, in our view, unprecedented in hospitality. It can turn a static hotel or resort stay into a high-margin digital marketplace. For our customers, we believe this means massive jumps in ancillary revenue. For our investors, we believe it demonstrates the unlocking of a repeatable, highly scalable customer playbook in a multi-billion-dollar market. We have the ability to deploy this standard to customers across the hospitality industry, and our new website reflects an absolute comm

Seasoned Finance Executive and Strategic Technology Advisor toGuide Board Strategy Technology and Customer Initiatives AUSTIN, Texas, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), the enterprise cloud platform for mobile that provides products, solutions, data, and services for brands to engage, manage and monetize global audiences, today announced the election of Ed Lu to the Company’s Board of Directors at the Company’s Annual Meeting of Stockholders held on December 17, 2025. Phunware also today announced the re-election of Interim Chief Executive Officer Jeremy Krol to the Company’s Board of Directors, after having joined the Board in October 2025. Ed Lu brings financial, strategic and operational leadership experience to Phunware, including over 14 years of service as Chief Financial Officer and similar roles in companies backed by venture capital and private equity. Mr. Lu’s expertise includes finance, accounting, risk management, corporate development and capital markets. Mr. Lu currently serves as the Chief Financial Officer and Chief Operating Officer of Fandom, Inc., with oversight over all financial, planning, accounting and corporate development functions since joining Fandom in October 2018. Mr. Lu has also served as a director of Outpost Games and as a board advisor and strategic advisor across several early to mid-stage companies. Mr. Lu holds a B.A. in Economics from the University of California, Berkeley and an M.S. in Management Science &amp; Engineering with a concentration in Entrepreneurial Finance and Strategy from Stanford University. “Ed brings a strong background in finance and operations, and expertise in guiding technology companies through periods of strategic and financial transformation, to our board of directors,” said Elliot Han, Phunware Board Chairperson. “Ed is known for his ability to drive hypergrowth and build scalable organizations, and has extensive experience with M&amp;A and capital markets transactions. He is also a thought leader within the finance community. We welcome him to the Board and look forward to his insights and contributions to help create sustainable, long-term value for Phunware and its shareholders.” About Phunware Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences. Phunware’s mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, and market participants. Phunware is poised to expand its software products and services audience through new generative AI products and product enhancements which are in development, utilize and monetize its patents and other intellectual property, and focus on serving its enterprise customers and partners. For more information on Phunware, please visit www.phunware.com. Safe Harbor / Forward-Looking Statements This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, bu