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Financial Performance - Revenues for Q2 2024 were $36 million, a 35% increase from Q2 2023[1] - Adjusted EBITDA for Q2 2024 was $811,000, a 479% improvement from Q2 2023[1] - Net loss for Q2 2024 decreased to $500,000, compared to a loss of $842,000 in Q2 2023[1] - Free cash flow for Q2 2024 was $800,000, an improvement of 467% compared to Q2 2023[1] - Revenues for the first six months of 2024 were $70.2 million, a 35% increase from the same period in 2023[2] - Adjusted EBITDA for the first six months of 2024 was $1.4 million, a 764% increase from the same period in 2023[2] - Revenues for the three months ended June 30, 2024, were $36,040,771, a 34.8% increase from $26,762,857 in the same period of 2023[9] - Gross profit for the six months ended June 30, 2024, was $9,559,113, compared to $7,719,577 for the same period in 2023, reflecting a 23.8% increase[9] - Net loss for the six months ended June 30, 2024, was $1,152,663, an improvement from a net loss of $1,793,552 in the same period of 2023[10] Cash Flow and Expenses - As of June 30, 2024, cash was $4.0 million with no bank debt[1] - Cash used in operating activities for the six months ended June 30, 2024, was $(2,637,380), compared to cash provided of $1,020,975 in 2023[10] - Cash at the end of the period on June 30, 2024, was $4,000,899, down from $7,775,113 at the end of the same period in 2023[10] - Operating expenses for the three months ended June 30, 2024, totaled $5,354,807, up from $4,636,369 in 2023, indicating a 15.5% increase[9] - Share-based compensation expense for the six months ended June 30, 2024, was $783,741, significantly higher than $235,570 in 2023[10] Other Income and Contracts - The company was awarded a $254 million contract modification by the U.S. Department of Homeland Security, increasing the contract ceiling to $754 million[1] - The company was selected by the U.S. Navy as one of seven contractors for the 10-Year, $2.7 billion Spiral 4 contract[1] - Interest income for the three months ended June 30, 2024, increased to $51,725 from $19,245 in 2023, representing a 168.5% increase[9] - Total other expense income for the three months ended June 30, 2024, was $(22,140), an improvement from $(66,529) in the same period of 2023[9] Outlook - The company maintains a positive outlook for the remainder of the year, supported by promising sales developments and technological advancements[2] - Weighted-average shares outstanding for the three months ended June 30, 2024, increased to 9,390,154 from 8,794,704 in 2023[9]

WidePoint Corporation (NYSE:WYY) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Jin Kang - President and CEO Jason Holloway - Chief Revenue Officer Robert George - CFO Conference Call Participants Barry Sine - Litchfield Hills Research Operator Good afternoon. Welcome to WidePoint's Second Quarter 2024 Earnings Conference Call. My name is Matthew, and I will be your operator for today's call. Joining us for today's presentation are WidePoint's President and CEO, Jin Kang; C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 52-2040275 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification no.) Title of Each Class Trading Symbol Name of Exchange on Which Registered Common Stock, $0.001 par value per share WYY NYSE American Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION ...

FAIRFAX, Va., Aug. 06, 2024 (GLOBE NEWSWIRE) -- WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, is confirmed to present at the 2024 Annual Gateway Conference, which is being held September 4-5, at the Four Seasons Hotel in San Francisco, CA. WidePoint's management team is scheduled to present on Wednesday, September 4 at 9:00 a.m. Pacific Time (PT). The presentation will be webcast live and available for replay here. In addition to the pre ...

FAIRFAX, Va., Aug. 06, 2024 (GLOBE NEWSWIRE) -- WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, is confirmed to present at the 2024 Annual Gateway Conference, which is being held September 4-5, at the Four Seasons Hotel in San Francisco, CA. WidePoint's management team is scheduled to present on Wednesday, September 4 at 9:00 a.m. Pacific Time (PT). The presentation will be webcast live and available for replay here. In addition to the pre ...

Financial Results - WidePoint Corporation conducted a conference call on May 15, 2024, to discuss its financial results for Q1 2024[5] - The financial results for the quarter ended March 31, 2024, were announced in a press release issued on the same day[5] - The report does not include specific financial metrics or performance indicators from the earnings call[5] Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, ensuring compliance with regulatory requirements[6] - The company has not indicated whether it is an emerging growth company[2] Company Information - The company is listed on the NYSE American under the trading symbol WYY[4] - The address of the principal executive office is 11250 Waples Mill Road, South Tower 210, Fairfax, Virginia 22030[2] - The CEO of WidePoint Corporation is Jin Kang, who signed the report on May 20, 2024[11] Conference Call Details - The conference call transcript is available as Exhibit 99.1, and the earnings press release is available as Exhibit 99.2[7] Product and Market Developments - No new products, technologies, market expansions, or acquisitions were mentioned in the provided content[5]

WidePoint Corporation (NYSE:WYY) Q1 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Jin Kang - President and CEO Jason Holloway - Chief Revenue Officer Robert George - Chief Financial Officer Conference Call Participants Barry Sine - Litchfield Hills Research Operator Good afternoon. Welcome to WidePoint's First Quarter 2024 Earnings Conference Call. My name is Kelly, and I'll be your operator for today's call. Joining us for today's presentation are WidePoint's President and CEO, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to ___________________ Commission File Number: 001-33035 WidePoint Corporation (Exact name of Registrant as specified in its charter) Delaware 52-204 ...

Financial Data and Key Metrics Changes - For Q4 2023, revenue was $28.3 million, a 21% increase from the same quarter last year, while total revenue for the year reached approximately $106 million, marking a 13% increase from the previous year [27][68] - The company achieved positive free cash flow of approximately $300,000 in Q4 2023 and anticipates maintaining this trend throughout 2024 [16][44] - The net loss for Q4 2023 was $1.3 million, significantly improved from a net loss of $8.9 million in the same period last year [56] Business Line Data and Key Metrics Changes - Carrier services revenue for Q4 was $15.7 million, up 14% year-over-year, and for the full year, it was $58.3 million, a 9% increase [27][35] - Managed and billable services revenue for Q4 was $4.4 million, a 23% increase from the same quarter last year, with annual revenue reaching $31 million, a 10% increase [33] - Reselling and other services revenue for Q4 was $8.1 million, a 37% increase year-over-year, and for the full year, it was $16.8 million, a 33% increase [52] Market Data and Key Metrics Changes - The company secured approximately $60 million in governmental contracts in Q4 2023, contributing to a substantial contract backlog totaling $359 million as of December 31, 2023 [21][17] - The company noted strong contract renewal and customer retention rates of over 90%, indicating solid market positioning [18] Company Strategy and Development Direction - The company is focused on achieving full FedRAMP certification for its ITMS platform, which is expected to enhance its competitive edge in securing federal government contracts [9][10] - Investments in AI are being explored to improve customer service, streamline operations, and enhance cybersecurity measures [12][13] - The company plans to expand its market presence through strategic hires and partnerships, particularly in the K-12 sector and federal business development [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit revenue growth in the teens for 2024, supported by a strong contract backlog and ongoing operational improvements [18][68] - The company anticipates minimal capital expenditures for 2024, allowing for a focus on operational growth initiatives [19] - Management highlighted the importance of maintaining a strong cash position and free cash flow to support future growth and strategic initiatives [58][68] Other Important Information - The company has developed a robust device recycling program as part of its ESG initiatives, aiming to minimize electronic waste and reduce carbon emissions [61] - The company has entered into a new revolving credit facility, providing an additional $4 million in borrowing capacity to support growth [58] Q&A Session Summary Question: What is the guidance for 2024 revenue and contracts in place? - Management indicated that approximately 60% to 65% of the revenue guidance for 2024 is already secured, with high confidence in the remaining portion [62] Question: How does the federal budget impact the company? - Management confirmed that all current task orders with the Department of Homeland Security (DHS) are fully funded, and they expect business as usual despite budget discussions [47][80] Question: What are the plans for capital allocation given the positive cash flow? - Management is considering various options for capital allocation, including increased investment in sales and marketing, strategic hires, and potential stock repurchase programs [44][83]