PHUN — what changed in the latest 10-Q
A section-by-section comparison of PHUN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-10 vs the prior 10-Q · 2026-05-11
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +12 | −8 | ~10 | 53 |
| Controls & procedures | Text added/removed | +1 | 0 | ~5 | 4 |
| Legal proceedings | Text added/removed | 0 | −1 | ~1 | 2 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 3 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-10
Software subscriptions and services as a percentage of total revenue
Net revenue increased by approximately $0.3 million, or 75.6%, for the three months ended June 30, 2026, compared to the corresponding period in 2025, as a result of a customer-initiated early contract termination.
Net revenue increased by approximately $0.2 million, or 17.3%, for the six months ended June 30, 2026, compared to the corresponding period in 2025, as a result of a customer-initiated early contract termination, which was partially offset by a decrease in development services revenue.
Total gross profit increased approximately $0.4 million, or 190.0%, for the three months ended June 30, 2026, and $0.4 million, or 70.3%, for the six months ended June 30, 2026, compared to the corresponding periods in 2025 as a result of the customer contract termination mentioned above.
Sales and marketing expense increased approximately $0.6 million, or 85.9% for the three months ended June 30, 2026, compared to the corresponding period in 2025, due to a $0.4 million increase in marketing spend, mainly for conferences and $0.4 million increase for marketing related consultants. Th…
Text removed vs the prior filing · source: 10-Q · 2026-05-11
revenue adjustments and stock-based compensation. We define adjusted gross margin as adjusted gross profit as a percentage of net revenue.
Net revenue decreased by approximately $0.15 million, or (21.2%), for the three months ended March 31, 2026, compared to the corresponding period in 2025, as a result of a decrease in development fees related to customer contract deliveries.
Total gross profit increased minimally by approximately $0.03 million, or 7.0%, for the three months ended March 31, 2026, compared to the corresponding period in 2025. Cost of revenue decreased and gross margin percentage increased as a result of fewer employees working on customer-related projects…
Sales and marketing expense decreased approximately $0.07 million, or (7.9%) for the three months ended March 31, 2026, compared to the corresponding period in 2025, due to a decrease in full-time headcount, offset by an increase in sales and marketing related consultants.
General and administrative expense decreased approximately $0.76 million, or (22.0%), for the three months ended March 31, 2026, compared to the corresponding period in 2025, primarily due to a decrease in legal expenses and other professional fees.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-10
Ongoing Remediation of Previously Identified Material Weakness
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2026-05-11
The Company legal proceedings styled as Wild Basin Investments, LLC, et al. v. Phunware, Inc., et al., filed in the Court of Chancery of the State of Delaware (Cause No. 2022-0168-LWW) and Phunware, Inc. v. Wilson Sonsini Goodrich & Rosati, Professional Corporation, Does 1-25, Case No. 21CV386411, o…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice