The Discounted Cash Flow (DCF) valuation of Phunware Inc (PHUN) is (13.12) USD. With the latest stock price at 3.44 USD, the upside of Phunware Inc based on DCF is -481.5%.

Is PHUN a buy or a sell?

Based on the latest price of 3.44 USD and our DCF valuation, Phunware Inc (PHUN) is a sell. Selling PHUN stocks now will result in a potential gain of 481.5%.

Note: valuation result may not be accurate due to the company's negative earnings.

	Range	Selected
WACC / Discount Rate	6.5% - 11.6%	9.0%
Long-term Growth Rate	3.0% - 5.0%	4.0%
Fair Price	(55.94) - (5.80)	(13.12)
Upside	-1726.0% - -268.6%	-481.5%

3.44 USD

Stock Price

(13.12) USD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

PHUN DCF Valuation: Revenue & Expenses Forecast

(USD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	3	4	6	6	6	6
% Growth	34%	12%	60%	2%	3%	2%

Cost of goods sold	(2)	(2)	(3)	(3)	(3)	(3)
% of Revenue	54%	52%	49%	47%	44%	42%

Selling, G&A expenses	(13)	(15)	(23)	(24)	(24)	(25)
% of Revenue	410%	410%	410%	410%	410%	410%

Research & Development	(2)	(3)	(4)	(4)	(4)	(4)
% of Revenue	71%	71%	71%	71%	71%	71%

Net interest & other expenses	4	4	6	7	7	7
% of Revenue	113%	113%	113%	113%	113%	113%

Tax expense	(0)	0	0	0	0	0
Tax rate	0%	0%	0%	0%	0%	0%

Net profit	(10)	(11)	(18)	(18)	(19)	(19)
% Margin	-323%	-319%	-317%	-314%	-312%	-310%