Phunware, Inc.

Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Funware third quarter 2024 earnings conference call. At this time, all participants are on a listen-only mode. If you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. If you wish to withdraw your question, please press star then 2. Participants in this call are advised that the audio of this conference call will be broadcast live over the internet and is also being recorded for playback purposes. A webcast replay of the call will be available approximately one hour after the end of the call through November 7, 2025. I would now like to turn the call over to Brooks Hamilton of MZ Group, the company's investor relations firm. Please go ahead, sir.

Thank you, operator. Good afternoon, and thank you for participating in today's conference call. Earlier this afternoon, the company released its financial results for the quarter ended September 30, 2024. A copy of that press release can be found on the company's website at www.fundware.com by selecting investors under the about tab from the corporate homepage. I further encourage you to visit investors.fundware.com to access not only the earnings press release, but also the current investor presentation, SEC filings, Fundware's recently released letter to shareholders and additional information on Fundware. Joining me on today's earnings call from Fundware's management team are Stephen Chen, interim chief executive officer, and Troy Reisner, chief financial officer. During this call, management will be making forward-looking statements, including statements that address Fundware's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in Fundware's most recently filed annual report on Form 10-K and subsequent periodic reports filed by FundWare with the SEC and FundWare's press release that accompanies this call, particularly the cautionary statements in it. Additionally, the matters being discussed today may include non-GAAP financial measures. Reconciliation of GAAP to non-GAAP financial information is set forth in the earnings press release. The content of this call contains time-sensitive information that is accurate only as of today, November 7, 2024. Except as required by law, FundWare disclaims any obligation to publicly update or revise any information provided on this call to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to FundWare's interim CEO, Steven Chen. Steven?

Thank you, everyone, for joining today's earnings call. I'm Steven Chen, and I am excited to update you on FundWare's progress. We're rooted in our legacy as a pioneer in mobile technology and our commitment to becoming a leader in the mobile plus AI solutions space. As we communicated in our recent shareholder letter, Funware's mission is to leverage mobile devices as a foundation for AI-driven personalized engagement that allows businesses to connect more effectively with their customers, partners, and employees. Funware's history in mobile engagement uniquely positions us for an era where mobile technology and AI converge. From the beginning, Funware was among the first to recognize the transformative power of mobile devices as the primary way people interact with technology and with one another. This foundation allows us to now deliver generative AI directly into users' hands, creating experiences that are highly personalized, relevant, and impactful. This legacy is more than history. It's also the springboard for our next chapter. As we step into the era of AI, we see mobile plus AI as the future standard for all enterprise engagements. By merging our strengths in mobile with generative AI, We are committed to turning mobile devices into dynamic, context-aware tools that offer unique insights and highly customized experiences tailored to each user's needs. Mobile devices remain one of the most accessible, universal technologies globally, making them the ideal platform for our AI solutions. By combining mobile and AI, we are enabling businesses to create entirely new opportunities for meaningful engagement, transforming devices into highly adaptable, real-time tools for connecting with customers and employees. Our vision spans both consumer-facing applications and internal employee productivity tools. For consumers, we're building personalized, context-aware experiences that elevate engagement, service, and satisfaction. For internal use, we're designing AI-enhanced productivity tools that streamline workflows, improve decision-making, and boost operational efficiency. This dual approach empowers enterprises to harness AI to enhance customer engagement while optimizing internal productivity. Our next generation AI-driven SaaS platform anticipated to launch in mid-2025 is designed to democratize mobile app creation by allowing companies of all sizes to create, build, and deploy custom mobile apps quickly and affordably. This platform is rooted in our understanding that modern businesses need fast, scalable AI solutions that reduce both the cost and complexity of mobile app development, giving them the flexibility to design high-quality apps that respond directly to user preferences. Fundware's extensive experiences working with Fortune 500 companies has given us a robust understanding of what it takes to deploy technology at scale. This expertise allows us to create modular, rapidly deployable AI solutions that can adapt to a wide range of industry needs. From retail and healthcare to advocacy and large scale enterprise applications, we are where our customers need us to be and allow for a quick mobile plus AI deployment for specific use cases or a comprehensive cross departmental AI integration and we're built to scale. This gives our customers a unique advantage to adopt AI incrementally while leveraging our infrastructure to scale their operations seamlessly. Let's talk about some of the specifics. Through our relationship with MyCanvas, we're actively exploring AI power solutions to transform civic engagement, leveraging Fundware's expertise in mobile and AI. This partnership enables us to deliver a next-generation platform that combines mobile engagement with advanced AI capabilities tailored for both federal and local applications and powered by localized LLMs. Our vision is to go beyond traditional voter outreach, equipping advocacy groups, nonprofits, and public agencies with tools for broader civic participation and engagement. We can provide nuanced, context-specific insights to support a wide range of activities. And we allow organizations and governments to have tools that deliver precise, data-informed strategies and help them connect more effectively with diverse communities. This is a real-time, optimized outreach approach based on hyperlocal data and allows us to have community relevant messaging. We hope to set a new standard in civic engagement. Funware's investment in infrastructure has positioned us to capture strong demand in the market for AI-driven solutions. We have a focus on scalable, modular frameworks that integrate with existing platforms. giving our partners a foundation for sustainable growth. We can support high-value customer engagements across a myriad of industries and fuel momentum in both bookings and sales. Fundware remains debt-free. We have adequate resources to support our continued investment in AI, sales, and engineering. We have financial stability that allows us to pursue a growth strategy judiciously while also ensuring we deliver long-term value to stockholders. Our commitment to fiscal responsibility is demonstrated in our efficient use of capital and in our balanced investment in strategic areas that align with our vision. We have a robust level of liquidity and allow us to support operational flexibility and resilience, and will allow us to respond effectively to emerging opportunities and address challenges while allowing us to have sustained stability and growth. FundWare's vision, leading a $500 billion generative AI market. Funware's foundational work in mobile technology is now propelling us into the rapidly expanding generative AI marketplace. We see our roles as an AI integration engine that provides scalable, adaptable solutions to enterprises looking to enhance their mobile platforms with personalized AI. By driving engagement, operational efficiency, and long-term growth, we believe Funware is exceptionally well-positioned to redefine how businesses and governments engage with customers, citizens, and employees in the AI era. Funware's journey from a mobile pioneer to a leader in mobile plus AI represents an exciting evolution. And with our recent changes, including the search for a new CFO, underscores our commitment to aligning our team with the strategic direction. This leadership adjustment is part of a broader effort to strengthen our alignment across all levels, ensuring we can fully leverage our foundation in mobile engagement while advancing our AI-driven initiatives. We're actively seeking individuals who can provide fresh perspectives and guide us towards achieving this vision with precision and agility. Thank you, and now I'll turn over the call to Troy to discuss our financial performance.