Quarterly ResultMay 20, 2026, 06:07 AM

WidePoint Q1 Revenue $40.6M; EPS $0.01; Adj. EBITDA +714%

AI Summary

WidePoint reported strong first-quarter 2026 financial results, with revenues increasing to $40.6 million and achieving positive net income of $77,000, or $0.01 per share, compared to a loss in the prior year. The company also saw significant growth in Adjusted EBITDA by 714% and Free Cash Flow by 941% year-over-year. Management highlighted the 35th consecutive quarter of positive Adjusted EBITDA and the 10th consecutive quarter of positive Free Cash Flow, along with progress on key contracts like the CWMS 3.0 and a carrier SaaS agreement, which are expected to drive growth in the second half of 2026.

Key Highlights

Q1 2026 Revenue was $40.6 million, an increase of $7.1 million year-over-year.
Q1 2026 Net income improved to $77,000, or $0.01 per share, from a $(724,000) loss YoY.
Q1 2026 Adjusted EBITDA increased 714% year-over-year to $752,000.
Q1 2026 Free Cash Flow increased 941% year-over-year to $674,000.
Unrestricted cash was $10.9 million as of March 31, 2026, with no bank debt.
Federal contract backlog was approximately $218 million as of March 31, 2026.
Awarded $1.5 million in total contract value in Q1 2026 for IT Managed Services.
CWMS 2.0 contract extended to June 24, 2026, with a material update anticipated.

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