Report
Milan Radia

Phunware (PHUN): Mobile today, a data utility ecosystem for the future

Phunware is a high-growth business selling technologies to enterprises to enhance their engagement with customers over mobile platforms. Its vision is far greater, revolving around a cryptocurrency-based ecosystem that allows individuals to be compensated for the use of their data, and to earn rewards for engaging with incentives and rewards programmes. The launch of a utility token, as well as a regulated security token, will be the first by a US-listed company (NASDAQ in this case), potentially creating a noteworthy valuation disconnect between Phunware’s current market capitalisation of $197m and the value of its holdings in PhunToken and PhunCoin. Our DCF analysis indicates an implied fair equity value of c.$222m.
Provider
Hardman & Co
Hardman & Co

We are a rapidly growing, innovative corporate research & consultancy business, based in London, serving the needs of both public and private companies.

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Analysts
Milan Radia

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