WidePoint Q3 revenue rises on federal contract awards
WYY•WidePoint’s third-quarter revenue rose to $45.10 million, above the $40.52 million consensus estimate, while its net loss narrowed to $192,000 from $559,000 a year earlier.
1. Revenue and earnings
WidePoint said third-quarter revenue growth was driven by 40 new and replacement task orders worth $33.7 million under the Department of Homeland Security’s CWMS 2.5 bridge contract. Gross profit was $6.20 million, and the company reported a basic loss per share of $0.02.
2. Federal contracts
Adjusted EBITDA was positive for the 37th consecutive quarter. WidePoint said its CWMS 2.0 task orders extend into 2027, providing operational runway, and cited integration of the ATV contract and efforts to expand federal business, including pursuing subcontracting for the LA28 Olympics.
