Revenue and EBITDA momentum is accelerating, but the major catalysts (carrier SaaS contract revenue, CWMS 3.0 decision) are second-half 2026 events. Monitor the June 24 CWMS 2.0 extension deadline for a CWMS 3.0 award signal. The carrier SaaS platform delivery date is the next major catalyst — any delay would hit sentiment. Given the small-cap and 86% analyst bullishness, the stock may gap on this print but near-term upside is capped until hard contract conversions materialize.
Price Chart
Executive Summary
WidePoint reported Q1 2026 revenue of $40.6M (+21% YoY) and GAAP net income of $77K ($0.01 EPS), in line with consensus. Adjusted EBITDA surged 714% to $752K and free cash flow rose 941% to $674K. The company highlighted progress on its carrier SaaS contract ($40–45M over 3 years, revenue expected in H2 2026) and the upcoming CWMS 3.0 award. The record-long DHS shutdown had minimal impact.
Key Financial Metrics
Key Facts
- Revenue $40.6M, +21% YoY vs $33.5M in Q1 2025; GAAP EPS $0.01 vs -$0.08 YoY
- Adjusted EBITDA $752K, up 714% YoY; free cash flow $674K, up 941% YoY
- 35th consecutive quarter of positive Adjusted EBITDA; 10th consecutive quarter of positive free cash flow
- Cash balance $10.9M with no bank debt; federal contract backlog ~$218M
- Carrier SaaS contract ($40-45M over 3 years) advancing through implementation; revenue expected to ramp in H2 2026
- CWMS 2.0 ordering period extended to June 24, 2026; CWMS 3.0 award decision anticipated soon after
- Revenue guidance from prior call was 'slightly below' prior range; no explicit guidance in this filing
- Net income improved to $77K from a net loss of $724K in Q1 2025
Financial Impact
Revenue +21% YoY to $40.6M; GAAP net income turned positive at $77K; Adjusted EBITDA $752K (714% YoY increase)
Risk Factors
- Government shutdown risk (DHS funding resolution still pending for some agencies); CWMS 3.0 award could be further delayed
- Carrier SaaS contract revenue ramp may slip into late 2026 or 2027 if implementation extends beyond Q3 2026
- Dilution risk: $98M market cap with only ~$77K in GAAP net income — any loss of a key contract could quickly reverse profitability
- Revenue concentration on federal contracts (backlog $218M, mostly government); federal budget uncertainty is a recurring risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001654954-26-005146 |
| Document: wyy_8k.htm | 0001654954-26-005146 |
| Document: 0001654954-26-005146-index-headers.html | 0001654954-26-005146 |
| Document: 0001654954-26-005146-index.html | 0001654954-26-005146 |
| Document: 0001654954-26-005146.txt | 0001654954-26-005146 |
| 8-K Data (Synthetic) | 0001654954-26-005146 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | SC 13G | $6.81 | awaiting T+60 | — | $7.07 (+3.82%) |
Oct 16, 2026 11d ago | 8-K | $6.15 | awaiting T+60 | — | $7.07 (+14.96%) |
Aug 17, 2026 10w ago | 8-K | $9.09 | awaiting T+60 | — | $7.07 (−22.22%) |
Jul 7, 2026 16w ago | Insider Cluster | $12.72 $7.86 | ▼ −38.21% | ▼ −40.70% | $7.07 (−44.42%) |
Jun 30, 2026 17w ago | Insider Cluster | $16.30 $11.07 | ▲ +32.09% | ▲ +35.04% | $7.07 (+56.63%) |
Jun 30, 2026 17w ago | 8-K | $17.50 $11.17 | ▼ −36.17% | ▼ −39.73% | $7.07 (−59.60%) |
May 19, 2026 23w ago | 8-K | $9.99 $9.45 | ▼ −5.41% | ▼ −10.41% | $7.07 (−29.23%) |
May 19, 2026 23w ago | 8-K | $9.95 $11.63 | ▲ +16.88% | ▲ +10.59% | $7.07 (−28.94%) |
May 18, 2026 23w ago | DEFA14A | $9.67 $11.49 | ▲ +18.82% | ▲ +13.97% | $7.07 (−26.89%) |
Apr 30, 2026 25w ago | Press Release | $6.34 $10.70 | ▲ +68.77% | ▲ +65.66% | $7.07 (+11.51%) |
US Market Status
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