WidePoint Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $45.1 million, up $9.5 million year over year
- ➤CWMS 2.5 bridge contract awarded with approximately $113 million ceiling
- ➤40 CWMS 2.5 task orders valued at approximately $33.7 million
- ➤Nine-month Adjusted EBITDA $1.7 million, up 178% year over year
- ➤GAO sustained CWMS 3.0 protest; DHS requested revised proposals
Expert Statements
Jin Kang, CEO of WidePoint Corporation
“The decision by the Government Accountability Office (“GAO”) to sustain the protest related to the CWMS 3.0 award has undoubtedly created near-term disruption; however, we believe the issues are temporary in nature.”
Jin Kang, CEO of WidePoint Corporation
“While sustained protests are not unprecedented in federal procurement, we recognize this was an unexpected setback.”
Jin Kang, CEO of WidePoint Corporation
“Importantly, operations continue uninterrupted under the CWMS 2.5 bridge contract.”
Jin Kang, CEO of WidePoint Corporation
“Beyond CWMS, integration efforts under the ATV contract continue to advance, and we remain on track for our targeted year-end go-live.”
Jin Kang, CEO of WidePoint Corporation
“We also recently received a letter of authorization from CDW as we work toward potentially becoming the official subcontractor supporting CDW’s role as the Official IT Equipment and Solutions Provider for the LA28 Olympic and Paralympic Games and Team USA.”
Jin Kang, CEO of WidePoint Corporation
“Together, these developments reinforce our confidence in WidePoint’s long-term growth prospects and execution against multiple strategic opportunities.”
FAIRFAX, Va., Nov. 12, 2026 (GLOBE NEWSWIRE) -- WidePoint Corporation (NYSE American: WYY), a leading provider of Secure Mobility Management solutions, reported results for the third quarter ended September 30, 2026.
Third Quarter 2026 and Recent Operational Highlights: * 37(th) consecutive quarter of positive Adjusted EBITDA * 12(th) consecutive quarter of positive free cash flow * Awarded 40 new and replacement task orders with a total value of approximately $33.7 million during the third quarter under the U.S. Department of Homeland Security’s (“DHS”) Cellular Wireless Managed Services (“CWMS”) 2.5 bridge contract * Awarded the CWMS 2.5 bridge contract, a 6-month IDIQ with a ceiling value of approximately $113 million Third Quarter 2026 Financial Highlights: * Revenues were $45.1 million, an increase of $9.5 million from the same quarter last year * Gross margin was 14%, and gross margin excluding carrier services revenue was 30% * Net loss was $(192,000) or $(0.02) per share, compared to a net loss of $(559,000) or a loss of $(0.06) per share in the same quarter last year * Adjusted EBITDA(1), a non-GAAP financial measure, was $338,000 compared to $344,000 in the same quarter last year * Free cash flow(1), a non-GAAP financial measure, was $338,000 compared to $324,000 in the same quarter last year * As of September 30, 2026, unrestricted cash was $10.1 million with no bank debt * As of September 30, 2026, federal contract backlog was approximately $209 million Nine Months 2026 Financial Highlights: * Revenues were $123.6 million, an increase of $17.3 million from the same period last year * Gross margin was 14%, and gross margin excluding carrier services revenue was 33% * Net loss was $(49,000) or $(0.00) per share, compared to a net loss of $(1.9) million or a loss of $(0.20) per share in the same period last year * Adjusted EBITDA(1), a non-GAAP financial measure, was $1.7 million, a 178% increase from the same period last year * Free cash flow(1), a non-GAAP financial measure, was $1.6 million, a 242% increase from the same period last year (1 )(Free cash flow and Adjusted EBITDA are non-GAAP financial measures. See below for the definition of such measures and a reconciliation to GAAP.)
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