Phunware Inc (PHUN)

[Drugdoctor]

The revenue decrease was explained in the filing. They had one time credits for some creative accounting last year, that wasn't comparable to this year's revenues...

Net revenues decreased $8.7 million , or (61.2)% , for the three months ended June 30, 2019 compared to the corresponding period in 2018 . Platform subscriptions and services revenue decreased $1.4 million , or (21.0)% , primarily because the Company recorded revenue in the corresponding period of 2018 related to two one-time items: $1.6 million related to a partner arrangement, and $0.5 million related to a customer contract settlement. The decrease was partially offset by the fulfillment of contracts related to new and existing customers. Application transaction revenue decreased $7.3 million , or (94.6)% , for the three months ended June 30, 2019 , compared to the corresponding period in 2018 , primarily because in the corresponding period in 2018 , an application transaction partner released the Company from a liability of $6.3 million (which the Company then recorded as revenue), and various decreased or ceased advertising campaigns.