Phunware Arranges 2022 Revenue Guidance & Revises Investment Policy for Cash Management

Phunware has announced revenue guidance of $25 million for 2022, including a revised corporate investment policy providing even more flexibility for diversifying and maximizing returns on cash reserves that are not immediately required for operating liquidity.

"We were thrilled to announce over $65 million cash on-hand and are committed to leveraging a healthy balance sheet to support long-term organic and inorganic growth initiatives that seek to mitigate an operational backdrop of rapid inflation," said Matt Aune, CFO of Phunware. "While we expect to more than double organic revenues to $25 million in 2022, our board has also taken a forward-thinking approach to managing our cash reserves and has chosen to leverage Decentralized Finance (DeFi) as a strategic and tactical competitive advantage, including bitcoin, stablecoins and alternative cryptocurrencies."

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