Record Contract Win
WidePoint secured a significant multiyear SaaS contract with a major US telecommunications carrier, expected to generate $40 to $45 million in revenue over three years.
Positive EBITDA and Cash Flow
Achieved adjusted EBITDA of $344,000 and free cash flow of $324,000, marking the thirty-third consecutive quarter of positive EBITDA and eighth consecutive quarter of positive free cash flow. Notably, there was an 88,260% sequential increase in both metrics.
FedRAMP Authorized Platform Advantage
WidePoint's FedRAMP authorized ITMS platform distinguishes it in the market, unlocking large-scale opportunities and positioning the company ahead of competitors.
Strong Federal Contract Backlog
The company ended the quarter with a federal contract backlog of approximately $269 million, providing solid revenue visibility for the coming year.