WidePoint Q3 revenue rises on federal contract awards

Overview

• Secure mobility management firm's Q3 revenue rose yr/yr

• Company reported Q3 net loss narrowed to $192,000 from $559,000 last year

• Adjusted EBITDA positive for 37th consecutive quarter

Outlook

• Company holds CWMS 2.0 task orders extending into 2027, providing operational runway

Result Drivers

• CONTRACT AWARDS - Co said Q3 revenue growth was driven by 40 new and replacement task orders worth $33.7 mln under the DHS CWMS 2.5 bridge contract

• FEDERAL GROWTH INITIATIVES - Co cited ongoing integration of the ATV contract and efforts to expand federal business, including new hires and pursuit of subcontracting for LA28 Olympics

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the it services & consulting peer group is "buy"

• Wall Street's median 12-month price target for WidePoint Corp is $20.30, about 236.7% above its November 11 closing price of $6.03

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads

• Nov 10 - Actelis Networks Q3 revenue rises on higher federal orders; net loss narrows

• Nov 10 - Mercury Systems Q1 revenue beat; raises FY27 outlook

• Nov 10 - Canada's Quarterhill Q3 revenue rises on contract wins, gross margin expands

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)