WIDEPOINT CORP

Listed Company

WYYCIK 0001034760NYSENon-AcceleratedSmaller ReportingServices-Computer Integrated Systems DesignDelawareFY ends Dec 31

Period

FY 2025

Revenue

$150.55M

Net Income

$-2.75M

Total Assets

$79.81M

Equity

$11.53M

Shares Out

9.87M

Op. Cash Flow

$5.71M

Business

WIDEPOINT CORP provides Technology Management as a Service (TMaaS) that enables organizations to manage mobility, identity, telecommunications and cybersecurity needs through secure, certified managed services. It offers telecom lifecycle management, mobile and identity management including federally certified digital credentials, digital billing and unified communications analytics, IT as a Service (including cloud, cybersecurity and professional services), and carrier services. Key business segments include Managed Services (TMaaS), ITaaS, Digital Billing & Analytics, and Carrier Services. It serves U.S. federal agencies and commercial customers through secure government and enterprise portals, direct sales, systems integrator partnerships and strategic reseller channels across the continental U.S., Canada, Europe and the Middle East.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUES	151	143	106	94	87
COST OF REVENUES (including amortization and depreciation of $1,763,013 and $2,267,687, respectively)	130	124	90	80	71
GROSS PROFIT	21	19	16	15	16
Sales and marketing	3	2	2	2	2
General and administrative expenses (including share-based compensation of $770,219 and $1,211,247, respectively)	20	18	16	15	13
Depreciation and amortization	1	1	1	1	—
Total operating expenses	24	21	19	34	16
LOSS FROM OPERATIONS	−3	−2	−4	−20	607,613
Interest income	333,063	214,587	90,679	41,831	—
Interest expense	−202,391	−242,835	−239,526	−259,644	−273,228
Other income (expense), net	647	−29,408	−62,597	1	643,000
Total other income (expense), net	131,319	−57,656	−211,444	1	373,930
LOSS BEFORE INCOME TAX PROVISION (BENEFIT)	−3	−2	−4	—	−640,447
INCOME TAX PROVISION (BENEFIT)	97,691	−3,759	133,243	5	640,447
NET LOSS	−3	−2	−4	−24	341,096
EARNINGS PER SHARE, BASIC AND DILUTED	−0.28	−0.21	−0.46	−2.7	0.04
WEIGHTED-AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED	10	9	9	9	9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	10	7	7	8	6
Restricted cash	3	1	0	—	—
Accounts receivable, net of allowance for credit losses of $57,454 and $46,150, respectively	15	12	8	9	13
Unbilled accounts receivable	34	32	17	10	11
Other current assets	5	4	1	935,978	3
Total current assets	66	55	33	28	33
Property and equipment, net	480,082	544,723	780,800	978,218	841,133
Lease right of use asset	4	4	4	5	6
Intangible assets, net	3	5	7	—	6
Goodwill	6	6	6	6	22
Deferred tax assets, net	1,123	0	—	—	—
Other long-term assets	48,822	659,086	483,288	2	2
Total assets	80	72	51	49	75
Accounts payable	26	17	13	13	10
Accrued expenses	31	31	16	11	12
Current portion of deferred revenue	6	5	2	2	2
Current portion of lease liabilities	751,233	735,152	638,258	596,529	794,175
Total current liabilities	64	53	31	26	26
Lease liabilities, net of current portion	4	4	4	5	6
Deferred revenue, net of current portion	435,151	907,160	1	364,837	400,142
Deferred tax liabilities, net	0	11,415	16,923	—	—
Total liabilities	68	58	37	31	34
Commitments and contingencies (Note 18)	0	0	6,900	0	0
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 2,045,714 shares issued and none outstanding	0	0	0	0	0
Common stock, $0.001 par value; 30,000,000 shares authorized; 9,892,565 and 9,485,508 shares issued and outstanding, respectively	9,894	9,487	8,894	8,726	8,842
Additional paid-in capital	104	103	102	—	—
Accumulated other comprehensive loss	−379,665	−450,945	−334,899	−350,234	−241,586
Accumulated deficit	−92	−89	−87	−83	−60
Total stockholders' equity	12	14	15	18	42
Total liabilities and stockholders' equity	80	72	51	49	75

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−3	−2	−4	−24	—
Deferred income tax expense (benefit)	6,450	−13,473	107,157	5	—
Depreciation expense	1	1	1	1	1
Provision for credit losses	26,117	21,818	47,060	11,852	−24,544
Amortization of intangibles	2	2	2	1	632,399
Non-cash lease expense	225,602	26,780	—	—	—
Chang in fair value of contingent consideration	0	−6,900	0	—	—
Loss (gain) on disposal of fixed assets	8,161	−8,663	1,927	0	—
Accounts receivable and unbilled receivables	−5	−19	−5	4	—
Inventories	−368,275	53,151	−143,668	367,551	400,565
Other current assets	−1	−3	−3,171	2	—
Other assets	161,041	−175,798	33,574	27,967	27,159
Accounts payable and accrued expenses	10	19	4	1	−30
Income tax payable	89,727	−43,946	−2,234	69,901	−1,631
Deferred revenue and other liabilities	814,526	3	955,696	−585,816	—
Other liabilities	−208,607	−16,186	0	−358,000	—
Net cash provided by operating activities	6	2	625,248	6	−1
Purchases of property and equipment	−265,469	−117,938	—	—	—
Proceeds from beneficial interest in sold receivables	0	259,125	469,104	—	—
Net cash (used in) provided by investing activities	−265,469	141,187	−620,985	−3	−7
Advances on bank line of credit	3	6	6	15	0
Repayments of bank line of credit advances	−3	−6	−6	−15	—
Principal repayments under finance lease obligations	−580,233	−636,455	−586,525	−600,438	−572,083
Withholding taxes paid on behalf of employees on net settled restricted stock awards	−130,745	−258,382	—	—	—
Issuance of common stock from cashless stock option exercises	−61,205	0	—	—	—
Proceeds from exercise of stock options	52,275	0	—	0	179,273
Net cash used in financing activities	−719,908	−894,837	−590,152	−1	−705,699
Net effect of exchange rate on cash	−72,184	−31,887	−23,815	−140,791	—
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	5	896,235	−609,704	1	−10
Cash and cash equivalents	10	7	—	—	—
Restricted cash	3	1	—	—	—
Total cash and cash equivalent	12	8	—	—	—
Cash paid for interest	159,300	207,047	223,307	194,754	254,926
Cash paid for income taxes	47,500	0	—	—	—
ROU asset obtained in exchange for lease liability	542,232	828,608	—	—	—

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