Revenue growth remains volatile, fluctuating between 0.0% and 35.3% over the last ten quarters, while the company struggles to maintain positive operating margins, which stood at -0.1% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 156.9M | 150.55M | 142.57M | 106.03M | 94.1M | 87.34M | 180.34M | 101.72M | 83.68M | 75.88M | 78.42M | 70.84M | 53.32M | 46.83M | 55.78M | 41.37M | 50.81M | 43.34M | 35.46M | 14.13M | 17.95M | 13.26M | 5.54M | 3.29M | 3.5M | 5.9M | 12.94M | 27.2M | 9.9M | 1.43M |
| Revenue Growth % | 10.04% | 5.59% | 34.47% | 12.67% | 7.75% | -51.57% | 77.29% | 21.56% | 10.27% | -3.23% | 10.7% | 32.86% | 13.86% | -16.06% | 34.83% | -18.58% | 17.23% | 22.24% | 150.96% | -21.3% | 35.36% | 139.32% | 68.27% | -5.77% | -40.79% | -54.38% | -52.43% | 174.75% | 594.56% | - |
| Cost of Goods Sold | 135.72M | 129.54M | 123.57M | 90.38M | 79.53M | 70.97M | 159.89M | 84.34M | 68.41M | 62.19M | 64.41M | 57.61M | 39.8M | 34.71M | 41.92M | 32.13M | 37.55M | 33.85M | 28.88M | 10.57M | 14.26M | 11.87M | 4.07M | 2.46M | 2.49M | 3.12M | 7.01M | 12.1M | 3.5M | 667.1K |
| COGS % of Revenue | - | 86.05% | 86.67% | 85.24% | 84.51% | 81.26% | 88.66% | 82.92% | 81.75% | 81.96% | 82.13% | 81.32% | 74.65% | 74.13% | 75.15% | 77.66% | 73.89% | 78.09% | 81.44% | 74.78% | 79.41% | 89.48% | 73.38% | 74.7% | 71.24% | 52.89% | 54.21% | 44.49% | 35.35% | 46.8% |
| Gross Profit | 21.18M | 21.01M | 19M | 15.65M | 14.58M | 16.37M | 20.46M | 17.38M | 15.27M | 13.69M | 14.01M | 13.23M | 13.51M | 12.11M | 13.86M | 9.24M | 13.26M | 9.5M | 6.58M | 3.56M | 3.7M | 1.39M | 1.48M | 833.23K | 1.01M | 2.78M | 5.92M | 15.1M | 6.4M | 758.26K |
| Gross Margin % | 13.5% | 13.95% | 13.33% | 14.76% | 15.49% | 18.74% | 11.34% | 17.08% | 18.25% | 18.04% | 17.87% | 18.68% | 25.35% | 25.87% | 24.85% | 22.34% | 26.11% | 21.91% | 18.56% | 25.22% | 20.59% | 10.52% | 26.62% | 25.3% | 28.76% | 47.11% | 45.79% | 55.51% | 64.65% | 53.2% |
| Gross Profit Growth % | - | 10.54% | 21.47% | 7.34% | -10.95% | -19.98% | 17.71% | 13.81% | 11.54% | -2.29% | 5.88% | -2.08% | 11.58% | -12.63% | 49.97% | -30.32% | 39.65% | 44.33% | 84.67% | -3.62% | 165.06% | -5.47% | 77.09% | -17.11% | -63.85% | -53.06% | -60.77% | 135.94% | 744.04% | - |
| Operating Expenses | 23.21M | 23.79M | 20.88M | 19.35M | 34.21M | 15.76M | 17.23M | 16.49M | 15.46M | 17.15M | 18.17M | 18.69M | 18.16M | 13.29M | 12.84M | 9.14M | 10.46M | 7.78M | 7.31M | 4.17M | 4.21M | 3.63M | 1.86M | 1.14M | 1.22M | 9.61M | 11.24M | 14.4M | 7M | 6.27M |
| OpEx % of Revenue | - | 15.8% | 14.65% | 18.25% | 36.35% | 18.04% | 9.56% | 16.21% | 18.48% | 22.6% | 23.17% | 26.39% | 34.07% | 28.38% | 23.02% | 22.09% | 20.59% | 17.95% | 20.61% | 29.52% | 23.48% | 27.4% | 33.64% | 34.49% | 34.93% | 162.75% | 86.9% | 52.94% | 70.71% | 439.74% |
| Selling, General & Admin | 17.69M | 22.46M | 19.88M | 18.07M | 16.85M | 14.73M | 16.14M | 15.5M | 15.04M | 16.6M | 17.12M | 17.64M | 17.79M | 13M | 12.56M | 8.93M | 10.26M | 7.6M | 7.15M | 4.09M | 4.18M | 3.61M | 1.79M | 1.12M | 1.17M | 3.16M | 10.39M | 12.3M | 5.2M | 5.26M |
| SG&A % of Revenue | - | 14.92% | 13.95% | 17.05% | 17.91% | 16.87% | 8.95% | 15.24% | 17.98% | 21.87% | 21.83% | 24.9% | 33.37% | 27.76% | 22.52% | 21.58% | 20.19% | 17.54% | 20.16% | 28.93% | 23.28% | 27.21% | 32.36% | 34.11% | 33.45% | 53.61% | 80.32% | 45.22% | 52.53% | 368.96% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 219.14K | 699.01K | 673.09K | 480.12K | 73.56K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 300K | 500K | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | 0.29% | 0.89% | 0.95% | 0.9% | 0.16% | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.1% | 5.05% | - |
| Other Operating Expenses | 1.46M | 1.33M | 1M | 1.27M | 17.35M | 1.03M | 1.09M | 988.15K | -2 | 3.81K | 13.54K | 33.01K | 12.89K | 11.27K | 3.2K | 211.13K | 201.24K | 179.41K | 160.56K | 83.46K | 35.13K | 25.22K | 70.9K | 12.78K | 51.79K | 6.44M | 851.56K | 1.8M | 1.3M | 1.01M |
| Operating Income | -2.03M | -2.78M | -1.88M | -3.7M | -19.63M | 607.61K | 3.22M | 885.25K | -190.41K | -3.46M | -4.16M | -5.46M | -4.65M | -1.18M | 1.02M | 105.17K | 2.8M | 1.72M | -727.53K | -607.89K | -517.59K | -2.24M | -388.59K | -302.83K | -215.71K | -6.83M | -5.32M | 700K | -600K | -5.51K |
| Operating Margin % | -1.29% | -1.85% | -1.32% | -3.49% | -20.86% | 0.7% | 1.79% | 0.87% | -0.23% | -4.56% | -5.31% | -7.71% | -8.72% | -2.51% | 1.83% | 0.25% | 5.52% | 3.96% | -2.05% | -4.3% | -2.88% | -16.88% | -7.01% | -9.19% | -6.17% | -115.65% | -41.12% | 2.57% | -6.06% | -0.39% |
| Operating Income Growth % | - | -48.09% | 49.2% | 81.15% | -3331.28% | -81.14% | 263.99% | 564.93% | 94.5% | 16.82% | 23.78% | -17.44% | -295.73% | -215.36% | 868.67% | -96.25% | 63.41% | 335.89% | -19.68% | -17.44% | 76.88% | -476.23% | -28.32% | -40.39% | 96.84% | -28.32% | -859.93% | 216.67% | -10789.92% | - |
| EBITDA | 444.92K | 308.7K | 1.39M | -330.92K | -17.1M | 2.27M | 4.85M | 2.8M | 1.12M | -1.97M | -2.6M | -5.08M | -2.81M | 576.03K | 2.81M | 966.13K | 3.81M | 2.85M | 279.38K | -78.04K | -54.07K | -1.88M | -308K | -290.06K | -163.92K | -6.28M | -4.47M | 2.5M | 700K | 1M |
| EBITDA Margin % | 0.28% | 0.21% | 0.97% | -0.31% | -18.17% | 2.59% | 2.69% | 2.75% | 1.34% | -2.6% | -3.32% | -7.17% | -5.28% | 1.23% | 5.04% | 2.34% | 7.5% | 6.57% | 0.79% | -0.55% | -0.3% | -14.16% | -5.56% | -8.81% | -4.69% | -106.41% | -34.53% | 9.19% | 7.07% | 70.39% |
| EBITDA Growth % | -59.53% | -77.77% | 519.57% | 98.06% | -854.54% | -53.32% | 73.65% | 150.25% | 156.72% | 24.24% | 48.81% | -80.57% | -588.26% | -79.51% | 190.99% | -74.66% | 33.96% | 918.87% | 457.98% | -44.34% | 97.12% | -509.79% | -6.18% | -76.96% | 97.39% | -40.58% | -278.72% | 257.14% | -30.23% | - |
| D&A (Non-Cash Add-back) | 2.47M | 3.09M | 3.27M | 3.37M | 2.54M | 1.66M | 1.63M | 1.91M | 1.31M | 1.49M | 1.56M | 383.26K | 1.84M | 1.75M | 1.79M | 860.96K | 1.01M | 1.13M | 1.01M | 529.85K | 463.52K | 361.04K | 80.6K | 12.78K | 51.79K | 545.29K | 851.56K | 1.8M | 1.3M | 1.01M |
| EBIT | -1.85M | -2.78M | -1.7M | -3.67M | -18.25M | 1.25M | 3.23M | 929.49K | -183.61K | -3.44M | -4.14M | -5.41M | -4.62M | -1.16M | 1.03M | 117.14K | 2.82M | 1.74M | -596.92K | -607.89K | -517.59K | -2.24M | -1.18M | -302.83K | -215.71K | -6.83M | -6.5M | -1.11M | -600K | -5.51M |
| Net Interest Income | 174.72K | 130.67K | -28.25K | -148.85K | -217.81K | -269.07K | -298.98K | -305.23K | -72.74K | -36.81K | -57.64K | -119.47K | -169.79K | -167.99K | -289.36K | -56.74K | -71.61K | -148.73K | -202.11K | 90.71K | 82.96K | -157.73K | -32.3K | 10.25K | 16.1K | 39.42K | -95.62K | 0 | 0 | 0 |
| Interest Income | 367.04K | 333.06K | 214.59K | 90.68K | 41.83K | 4.16K | 3.94K | 5.36K | 6.8K | 15.35K | 14.59K | 23.03K | 17K | 7.36K | 4.88K | 12.57K | 18.44K | 27.69K | 134.53K | 104.25K | 92.67K | 6.96K | 5.84K | 11.55K | 17.66K | 44.66K | 103.35K | 0 | 0 | 0 |
| Interest Expense | 192.31K | 202.39K | 242.84K | 239.53K | 259.64K | 273.23K | 302.92K | 310.58K | 79.54K | 52.16K | 72.23K | 142.5K | 186.8K | 175.36K | 294.24K | 69.32K | 90.05K | 176.42K | 336.64K | 13.54K | 9.71K | 164.69K | 38.14K | 1.3K | 1.56K | 5.23K | 198.97K | 0 | 0 | 0 |
| Other Income/Expense | 224.61K | 131.32K | -57.66K | -211.44K | 1.13M | 373.93K | -298.52K | -266.35K | -72.75K | -33K | -44.1K | -86.46K | -156.9K | -156.73K | -286.16K | -57.35K | -71.61K | -148.78K | -206.03K | 90.71K | 82.96K | -5.56M | -3.1M | 11.75K | 156.1K | 39.42K | -1.08M | -1.7M | 300K | -14.2M |
| Pretax Income | -1.8M | -2.65M | -1.94M | -3.91M | -18.51M | 981.54K | 2.92M | 618.9K | -263.15K | -3.5M | -4.21M | -5.55M | -4.81M | -1.33M | 732.61K | 47.82K | 2.73M | 1.57M | -933.56K | -517.18K | -434.64K | -7.8M | -623.77K | -291.09K | -59.61K | -6.79M | -6.4M | -1M | -300K | -14.21M |
| Pretax Margin % | -1.15% | -1.76% | -1.36% | -3.69% | -19.67% | 1.12% | 1.62% | 0.61% | -0.31% | -4.61% | -5.37% | -7.83% | -9.02% | -2.84% | 1.31% | 0.12% | 5.38% | 3.62% | -2.63% | -3.66% | -2.42% | -58.81% | -11.26% | -8.84% | -1.71% | -114.98% | -49.43% | -3.68% | -3.03% | -996.71% |
| Income Tax | 148.03K | 97.69K | -3.76K | 133.24K | 5.08M | 640.45K | -7.4M | 392.65K | 1.19M | 37.97K | -73.45K | -81.81K | 3.59M | 362.76K | -99.69K | -199.05K | -3.65M | 156.89K | 156.89K | 0 | -83 | -355.42K | -816 | 0 | 0 | -39.42K | 1.27M | 1.8M | 0 | 0 |
| Effective Tax Rate % | -8.21% | -3.68% | 0.19% | -3.4% | -27.44% | 65.25% | -253.1% | 63.44% | -453.48% | -1.09% | 1.75% | 1.47% | -74.73% | -27.23% | -13.61% | -416.24% | -133.5% | 10.01% | -16.81% | 0% | 0.02% | 4.56% | 0.13% | 0% | 0% | 0.58% | -19.93% | -180% | 0% | 0% |
| Net Income | -1.95M | -2.75M | -1.93M | -4.05M | -23.59M | 341.1K | 10.32M | 226.25K | -1.46M | -3.53M | -4.13M | -5.47M | -8.4M | -1.69M | 832.3K | 246.87K | 6.38M | 1.41M | -1.09M | -517.18K | -434.56K | -7.44M | -622.96K | -291.09K | -59.61K | -6.79M | -6.59M | -1.1M | -300K | -14.21M |
| Net Margin % | -1.24% | -1.83% | -1.36% | -3.82% | -25.06% | 0.39% | 5.72% | 0.22% | -1.74% | -4.66% | -5.27% | -7.72% | -15.76% | -3.62% | 1.49% | 0.6% | 12.56% | 3.25% | -3.08% | -3.66% | -2.42% | -56.13% | -11.24% | -8.84% | -1.71% | -114.98% | -50.97% | -4.04% | -3.03% | -996.71% |
| Net Income Growth % | 2.75% | -42.23% | 52.2% | 82.84% | -7014.56% | -96.7% | 4462.85% | 115.53% | 58.79% | 14.51% | 24.38% | 34.93% | -395.68% | -303.63% | 237.15% | -96.13% | 352.4% | 229.35% | -110.85% | -19.01% | 94.16% | -1095.09% | -114.01% | -388.33% | 99.12% | -2.92% | -499.45% | -266.67% | 97.89% | - |
| Net Income (Continuing) | -1.95M | -2.75M | -1.93M | -4.05M | -23.59M | 341.1K | 10.32M | 226.25K | -1.46M | -3.53M | -4.13M | -5.47M | -8.4M | -1.69M | 832.3K | 246.87K | 6.38M | 1.41M | -1.09M | -517.18K | -434.56K | -7.44M | -4.28M | -291.09K | -59.61K | -6.79M | -6.59M | -1.1M | -300K | -14.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.19 | -0.28 | -0.21 | -0.46 | -2.70 | 0.04 | 1.20 | 0.03 | -0.17 | -0.43 | -0.50 | -0.66 | -1.15 | -0.27 | 0.13 | 0.04 | 1.02 | 0.20 | -0.19 | -0.10 | -0.10 | -1.41 | -0.37 | -0.19 | -0.04 | -5.23 | -5.08 | -0.85 | -0.28 | -14.21 |
| EPS Growth % | 3.26% | -33.33% | 54.35% | 82.96% | -7358.06% | -96.9% | 4360.97% | 115.82% | 60.47% | 14% | 24.24% | 42.61% | -325.93% | -307.69% | 225% | -96.08% | 410% | 205.26% | -92.5% | -3.24% | 93.22% | -281.08% | -94.74% | -353.46% | 99.2% | -2.95% | -497.65% | -203.57% | 98.03% | - |
| EPS (Basic) | - | -0.28 | -0.21 | -0.46 | -2.70 | 0.04 | 1.22 | 0.03 | -0.17 | -0.43 | -0.50 | -0.66 | -1.15 | -0.27 | 0.13 | 0.04 | 1.04 | 0.20 | -0.19 | -0.10 | -0.10 | -2.97 | -0.37 | -0.19 | -0.04 | -5.23 | -5.08 | -0.85 | -0.28 | -14.21 |
| Diluted Shares Outstanding | 10.07M | 9.67M | 9.32M | 8.83M | 8.73M | 9.16M | 8.6M | 8.4M | 8.33M | 8.29M | 8.27M | 8.22M | 7.3M | 6.38M | 6.38M | 6.41M | 6.29M | 6.06M | 5.67M | 5.24M | 4.54M | 5.27M | 1.67M | 1.56M | 1.42M | 1.3M | 1.3M | 1.29M | 1.06M | 1M |
| Basic Shares Outstanding | 9.87M | 9.67M | 9.32M | 8.83M | 8.73M | 9.07M | 8.46M | 8.4M | 8.33M | 8.29M | 8.27M | 8.22M | 7.3M | 6.28M | 6.35M | 6.29M | 6.16M | 5.94M | 5.67M | 5.24M | 4.54M | 2.51M | 1.67M | 1.56M | 1.42M | 1.3M | 1.3M | 1.29M | 1.06M | 1M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative operating margins
As reported in recent financial filings, WidePoint's revenue growth has exhibited significant volatility, fluctuating from a high of 35.3% in 2024Q1 to a more modest 12.3% by 2025Q4, suggesting that the company's top-line expansion remains heavily dependent on the timing of specific federal contract awards.
The inconsistent growth trajectory appears to reflect the lumpy nature of government procurement cycles rather than a steady, organic scaling of the business. Investors should monitor whether the recent 18.6% growth in 2026Q1 represents a sustainable shift or merely a temporary spike driven by hardware-heavy contract fulfillment.
Based on the provided income statement data, WidePoint maintains a thin gross margin profile, averaging approximately 13.5% over the last ten quarters, which indicates that the company's business model is heavily weighted toward low-margin carrier service reselling rather than high-margin proprietary software or identity management solutions.
This structural limitation suggests that the company lacks significant pricing power, as the majority of revenue is likely passed through to telecommunications carriers. Without a fundamental shift in the revenue mix toward higher-margin services, the company may continue to struggle with achieving meaningful gross profit expansion.
According to the historical income statement, WidePoint has failed to demonstrate positive operating leverage, as SG&A expenses frequently exceed gross profit, resulting in persistent operating losses despite the company reaching a quarterly revenue scale of over $40 million in the most recent reporting period.
The inability to scale operating income faster than gross profit suggests that the company's fixed cost base is disproportionately high relative to its current revenue generation. This warrants further investigation into whether the current corporate overhead is necessary for maintaining federal certifications or if it represents an inefficiency.
As indicated by the quarterly financial data, WidePoint consistently utilizes stock-based compensation, with figures reaching as high as $425.6K in 2023Q4, which serves to dilute shareholders while the company simultaneously reports recurring GAAP net losses and struggles to achieve consistent bottom-line profitability across the observed periods.
The reliance on stock-based compensation in the absence of GAAP earnings suggests that the company's reported net income figures may be flattered by non-cash adjustments. Investors should be cautious, as the persistent use of equity-based incentives during periods of negative operating cash flow may indicate a misalignment between management compensation and operational performance.
Based on reported figures, the primary risk to the investment thesis is the company's inability to convert its federal market access into sustainable profitability, as evidenced by the negative operating margins that have persisted throughout the majority of the last ten quarters of financial reporting.
Short-sellers would likely focus on the potential for margin compression if federal procurement budgets tighten or if competitive pressures force further price concessions in the carrier services segment. The lack of a clear path to GAAP profitability suggests that the company's current valuation may be overly optimistic regarding its long-term earnings potential.
Quick answers to the most common questions about buying WYY stock.
For fiscal year 2025, WidePoint Corporation (WYY) reported total revenue of $150.5M. This represents a 10461.9% increase compared to $1.4M in 1997.
WidePoint Corporation (WYY) reported a net loss of $2.8M for the fiscal year ending 2025.
WidePoint Corporation (WYY) reported an operating income of $-2.8M, resulting in an operating profit margin of -1.8%. This margin reflects the operational efficiency of the business before interest and taxes.
WidePoint Corporation (WYY) generated $21.0M in gross profit for the year, representing a gross profit margin of 14.0%. This demonstrates the company's core pricing power and production efficiency.