# WYY earnings call intelligence

LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/WYY) · [Earnings tab](https://www.lopjlb.com/stock/WYY?tab=earnings)

Updated: 2026-08-13T07:43:07

Quarters analyzed: 8

## Cross-quarter narrative

Across eight earnings calls WidePoint’s story shifted from rapid top‑line expansion and strong federal pipeline in 2024 to a more cautious outlook dominated by contract timing risk and cash management in 2025‑26. Early quarters highlighted double‑digit revenue growth, record‑size Spiral 4 and CWMS 2.0 awards, and a FedRAMP push that moved from on‑track to delivery by Q4 2024. By Q3 2024 the company began flagging unbilled receivables and FedRAMP timing uncertainty, while margins improved on an ex‑carrier basis as managed‑services mix rose. In 2025 the focus turned to the pending CWMS 3.0 recompete, a nascent Device‑as‑a‑Service (DaaS) effort and a large carrier SaaS win, all of which faced schedule slips and heightened budget‑policy headwinds. Federal budget and shutdown risks surfaced repeatedly, and guidance grew increasingly vague. Cash rose from a low $4 M in Q2 2024 to a $9.8 M reserve by Q4 2025, yet the company emphasized the need to deploy capital prudently. Overall, the narrative moves from high‑growth confidence to a phase of execution risk, margin mix pressure, and uncertainty around key federal awards.

## Latest CallCard · Q1

WYY Q1'26: $40.6M rev (+21%), first positive EPS since '21; CWMS 3.0 award imminent (DHS funded), carrier SaaS go-live H2'26, DaaS pipeline building; guidance withheld pending contract clarity.

**Guidance:** vague

**Tone:** mgmt 0.6 · Q&A pressure 0 · divergence 0

## Quarter one-liners

- **2026 Q1:** WYY Q1'26: $40.6M rev (+21%), first positive EPS since '21; CWMS 3.0 award imminent (DHS funded), carrier SaaS go-live H2'26, DaaS pipeline building; guidance withheld pending contract clarity.
- **2025 Q4:** WidePoint posted Q4 2025 revenue of $42.3M, adjusted EBITDA $460K and $9.8M cash, highlighted delayed CWMS 3.0 award, progress on SaaS and DaaS pipelines, and expressed optimism while noting federal shutdown headwinds.
- **2025 Q3:** WYY Q3 revenue $36.1M (+4% YoY), EBITDA/FCF turnaround; $40-45M carrier SaaS win, CWMS 3.0 RFP out, Spiral 4 traction, DaaS pipeline; guidance lowered on timing.
- **2025 Q2:** WidePoint advances CWMS 3.0 recompete ($3B/10yr), wins 4 Spiral 4 task orders ($26M), sees DaaS pipeline shift to H2 2025, maintains revenue guidance but expects EBITDA/FCF adjustment next quarter.
- **2025 Q1:** WidePoint Q1 revenue flat at $34.2M with $2.7M out-of-period adjustment; FedRAMP authorization for ITMS, Spiral 4 task orders building, guidance $154-163M revenue, $2.8-3M adj. EBITDA, $2.4-2.6M FCF; cash $3.7M with customer invoicing delay.
- **2024 Q4:** WidePoint delivered 35% revenue growth to $142.6M, achieved FedRAMP authorization for ITMS, launched MobileAnchor and M365 Analyzer, secured $290M backlog plus $25M Spiral 4 task order, and targets positive EPS in 2025 amid federal budget uncertainty.
- **2024 Q3:** WidePoint Q3 revenue $34.6M (+35% YoY), adj EBITDA $574K (+149%), FCF $511K; MobileAnchor traction, FedRAMP nearing authorization, $300M backlog, guidance maintained trending high end.
- **2024 Q2:** WidePoint reports Q2 revenue $36M (+35% YoY), adj EBITDA $811K (+479%), FCF $800K; highlights $2.7B Spiral 4 award, CWMS 2.0 ceiling increase to $754M, pursuing CWMS 3.0 ($1.5-2B) and SEWP VI ($60B); cash down to $4M due to billing delays; guidance maintained $120-133M revenue, $2.1-2.4M adj EBITDA,

## Theme arcs

- **Revenue growth** (deteriorating): YoY growth slowed from +35% in 2024 to flat in Q1 2025 and modest 4% rise in Q3 2025
- **Ex‑carrier gross margin** (improving): Improved from 31% (2024 Q2) to 38% (2024 Q3) and stabilized around mid‑30s
- **FedRAMP authorization** (resolved): Initially at risk in Q3 2024, achieved by Q4 2024
- **CWMS 3.0 award timing** (deteriorating): RFP release and award repeatedly delayed, still pending as of Q4 2025
- **Device‑as‑a‑Service pipeline** (new): Strategic partnership announced Q3 2024, infrastructure built Q4 2025, but deal closures shifted to H2 2025 and beyond
- **Cash position** (improving): Low $4 M in 2024 Q2 rose to $9.8 M by 2025 Q4, with $4 M revolver maintained
- **Guidance clarity** (deteriorating): Shift from maintained guidance (2024‑2025) to vague or lowered guidance in 2025‑26

## Guidance path

2024 Q2:maintained → 2024 Q3:maintained → 2024 Q4:vague → 2025 Q1:vague → 2025 Q2:maintained → 2025 Q3:lowered → 2025 Q4:vague → 2026 Q1:vague

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Research context only. Not personalized investment advice.

API: `GET /bff/api/bigfive/earnings-intel/WYY`