Quarterly ResultMay 14, 2026, 04:14 PM
WidePoint Q1 Revenue $40.58M, Net Income $76,960 vs. Prior Year Loss
AI Summary
WidePoint Corp reported a significant turnaround in its first quarter 2026 financial results, achieving a net income of $76,960 compared to a net loss of $724,063 in the same period last year. This improvement was driven by a 21.09% increase in revenues, reaching $40.58 million, and a substantial reduction in operating losses. The company also saw an increase in its cash and cash equivalents and a decrease in net cash used in operating activities, indicating improved financial health.
Key Highlights
- Net income for Q1 2026 was $76,960, a significant improvement from a net loss of $724,063 in Q1 2025.
- Revenues increased by 21.09% to $40,576,030 in Q1 2026 from $33,510,039 in Q1 2025.
- Loss from operations significantly reduced to $58,366 in Q1 2026 from $816,431 in Q1 2025.
- Basic and diluted EPS improved to $0.01 in Q1 2026 from $(0.08) in Q1 2025.
- Cash and cash equivalents increased to $10,927,910 as of March 31, 2026, from $9,818,503 at December 31, 2025.
- Net cash used in operating activities decreased to $922,487 in Q1 2026 from $3,227,591 in Q1 2025.
- U.S. Federal Government accounted for 85% of total revenues in Q1 2026.
- The Company had no outstanding balance on its $4,000,000 revolving line of credit facility as of March 31, 2026.