Phunware, Inc. (NASDAQ:PHUN) Q4 2022 Earnings Call Transcript

Russell Buyse: Well, what we’ve — I can’t speak to pricing at this point, but I can tell you that there are more people who are willing to have conversations given market conditions and their prospects going forward. We’re looking for companies that are good alignment with our core strategy around the enterprise SaaS offering. So either companies with a complementary offering or in a complementary market to us or a piece of technology that would help us accelerate the product roadmap. And of course, Matt, can describe what we might be looking for from the financial criteria to whatever extent embraces.

Matt Aune: Yeah. I think, like Russ said, we’re not down the road far enough where we’re seeing pricing in terms of more depressed pricing. I think we all expect that. Yeah, and I think, first and foremost, obviously, the company — the type of companies we are looking at, Russ explain, but certainly, we’re not looking to add any more burn rate on to the company or bringing any companies that are not going to be least accretive on cash or breakeven at a minimum. So those are kind of criteria and we’ll see. I mean our expectation is that we’ll be able to get a better deal now second half of the year than we may have in the middle of 2022 or 2021.

Ed Woo: Great. Well, thanks for answering my questions and I wish you guys a good luck. Thank you.

Russell Buyse: Thanks, Ed.

Operator: Thank you. Our next question is coming from Howard Halpern with Taglich Brothers. Please go ahead.

Howard Halpern: Good afternoon, guys.

Russell Buyse: Hi.

Howard Halpern: Welcome, Russ.

Russell Buyse: Hi, Howard.

Howard Halpern: In terms of potential bookings growth, are you seeing maybe some flow from your newer integrators or newer partners rather than some of them that have been around a longer period of time?

Matt Aune: We are definitely seeing active interest and movement from our newer partners. I wish Randall were here to filled your question about some of our longstanding partners as well, since I’m a little bit less acquainted with their activity. But we are definitely seeing excitement and interest from our new partners that, of course, supplements our current partners and our direct sales effort.

Howard Halpern: And are you seeing potentially this maybe smaller deals that can get done quicker and that build into larger deals? Is that maybe part of the game plan to basically get in and then move within an organization?

Matt Aune: Definitely. So one of the things that we’ve done, like Randall talked about, simplified packaging and pricing. We also want to be competitive in the pricing area and one of the ways that we’re also trying to do that, because our product works so solidly is, do a proof-of-concept where that’s appropriate or if it’s a customer who has multiple locations to do a pilot at one of those locations to show them how well it works, because we’re quite confident in any kind of a trial that we’re going to come out as the winner.

Howard Halpern: Okay. Okay, guys. Everything else was asked and answered. So thanks and keep up the good work.