$WYY
WIDEPOINT CORP

2024 Q2 Form 10-Q Financial Statement

#000165495424006397 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $36.04M $34.21M $28.26M
YoY Change 34.67% 35.35% 21.07%
Cost Of Revenue $31.15M $29.54M $24.23M
YoY Change 36.29% 37.63% 22.48%
Gross Profit $4.893M $4.666M $4.031M
YoY Change 25.16% 22.47% 13.25%
Gross Profit Margin 13.58% 13.64% 14.27%
Selling, General & Admin $5.103M $5.060M $4.801M
YoY Change 16.69% 14.17% 19.09%
% of Gross Profit 104.28% 108.45% 119.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $906.9K $260.3K $1.051M
YoY Change 17.51% -2.08% 37.71%
% of Gross Profit 18.53% 5.58% 26.07%
Operating Expenses $5.355M $5.317M $5.092M
YoY Change 15.5% 13.17% 18.46%
Operating Profit -$461.6K -$651.0K -$1.061M
YoY Change -36.48% -26.72% 43.58%
Interest Expense $72.33K $58.74K -$3.180K
YoY Change 27.1% -0.07% -93.05%
% of Operating Profit
Other Income/Expense, Net -$22.14K -$44.18K -$9.880K
YoY Change -66.72% -22.18% -102.6%
Pretax Income -$483.7K -$695.2K -$1.267M
YoY Change -39.02% -26.45% 213.36%
Income Tax $15.83K -$42.09K $64.82K
% Of Pretax Income
Net Earnings -$499.6K -$653.1K -$1.332M
YoY Change -40.68% -31.36% -85.02%
Net Earnings / Revenue -1.39% -1.91% -4.71%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.05 -$0.07 -$0.15
COMMON SHARES
Basic Shares Outstanding 9.312M shares 8.844M shares 8.844M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.001M $5.268M $6.921M
YoY Change -48.54% 15.07% -8.1%
Cash & Equivalents $4.001M $5.268M $6.921M
Short-Term Investments
Other Short-Term Assets $1.528M $1.625M $717.6K
YoY Change 38.34% 72.99% -23.34%
Inventory $283.0K $657.3K $366.1K
Prepaid Expenses
Receivables $10.56M $6.805M $24.84M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $41.87M $36.77M $32.84M
YoY Change 33.21% 33.4% 17.35%
LONG-TERM ASSETS
Property, Plant & Equipment $617.2K $695.3K $4.826M
YoY Change -30.56% -28.96% 393.35%
Goodwill $5.812M $5.812M $5.812M
YoY Change 0.0% 0.0% 0.0%
Intangibles $6.099M $6.752M $7.336M
YoY Change -8.6% -5.95% -0.84%
Long-Term Investments
YoY Change
Other Assets $489.7K $489.7K $483.3K
YoY Change -79.8% -77.86% -76.14%
Total Long-Term Assets $16.72M $17.62M $18.46M
YoY Change -17.5% -15.37% -12.21%
TOTAL ASSETS
Total Short-Term Assets $41.87M $36.77M $32.84M
Total Long-Term Assets $16.72M $17.62M $18.46M
Total Assets $58.60M $54.39M $51.30M
YoY Change 13.33% 12.41% 4.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.03M $12.06M $12.63M
YoY Change 4.92% -11.21% 0.95%
Accrued Expenses $22.59M $20.59M $16.81M
YoY Change 63.19% 93.32% 48.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.50M $35.13M $31.46M
YoY Change 29.24% 32.94% 20.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.941M $5.003M $5.149M
YoY Change 1.16% 0.18% 0.62%
Total Long-Term Liabilities $4.941M $5.003M $5.149M
YoY Change 1.16% 0.18% 0.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.50M $35.13M $31.46M
Total Long-Term Liabilities $4.941M $5.003M $5.149M
Total Liabilities $44.58M $40.19M $36.62M
YoY Change 25.76% 27.94% 17.15%
SHAREHOLDERS EQUITY
Retained Earnings -$88.30M -$87.80M -$87.15M
YoY Change 4.01% 4.46% 4.87%
Common Stock $9.487K $9.313K $102.2M
YoY Change 6.67% 6.56% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.02M $14.20M $14.68M
YoY Change
Total Liabilities & Shareholders Equity $58.60M $54.39M $51.30M
YoY Change 13.33% 12.41% 4.67%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$499.6K -$653.1K -$1.332M
YoY Change -40.68% -31.36% -85.02%
Depreciation, Depletion And Amortization $906.9K $260.3K $1.051M
YoY Change 17.51% -2.08% 37.71%
Cash From Operating Activities -$1.081M -$1.557M -$1.215M
YoY Change -130.79% -37.46% -142.61%
INVESTING ACTIVITIES
Capital Expenditures $11.51K $6.494K $110.1K
YoY Change -96.79% -93.29% -68.14%
Acquisitions
YoY Change
Other Investing Activities $0.00 $259.1K -$900.00
YoY Change -100.0%
Cash From Investing Activities -$11.51K $252.6K -$111.0K
YoY Change -94.66% -170.32% -67.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -180.7K -$356.3K -170.1K
YoY Change 39.16% 175.75% 10.67%
NET CHANGE
Cash From Operating Activities -1.081M -$1.557M -1.215M
Cash From Investing Activities -11.51K $252.6K -111.0K
Cash From Financing Activities -180.7K -$356.3K -170.1K
Net Change In Cash -1.273M -$1.653M -1.496M
YoY Change -140.22% -44.01% -163.61%
FREE CASH FLOW
Cash From Operating Activities -$1.081M -$1.557M -$1.215M
Capital Expenditures $11.51K $6.494K $110.1K
Free Cash Flow -$1.092M -$1.563M -$1.325M
YoY Change -134.66% -39.55% -152.88%

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