$WYY
WIDEPOINT CORP Stock $wyy

$wyy Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000165495424010643 Filed on August 14, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$34.62M	$36.04M
YoY Change	34.53%	34.67%
Cost Of Revenue	$29.93M	$31.15M
YoY Change	37.04%	36.29%
Gross Profit	$4.692M	$4.893M
YoY Change	20.48%	25.16%
Gross Profit Margin	13.55%	13.58%
Selling, General & Admin	$4.883M	$5.103M
YoY Change	9.3%	16.69%
% of Gross Profit	104.07%	104.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$821.7K	$906.9K
YoY Change	5.35%	17.51%
% of Gross Profit	17.51%	18.53%
Operating Expenses	$5.143M	$5.355M
YoY Change	8.8%	15.5%
Operating Profit	-$451.0K	-$461.6K
YoY Change	-45.84%	-36.48%
Interest Expense	$52.91K	$72.33K
YoY Change	-232.28%	27.1%
% of Operating Profit
Other Income/Expense, Net	$7.070K	-$22.14K
YoY Change	-109.42%	-66.72%
Pretax Income	-$443.9K	-$483.7K
YoY Change	-51.1%	-39.02%
Income Tax	-$18.71K	$15.83K
% Of Pretax Income
Net Earnings	-$425.2K	-$499.6K
YoY Change	-53.84%	-40.68%
Net Earnings / Revenue	-1.23%	-1.39%
Basic Earnings Per Share
Diluted Earnings Per Share	-$0.04	-$0.05
COMMON SHARES
Basic Shares Outstanding	9.652M shares	9.312M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$5.636M	$4.001M
YoY Change	-33.69%	-48.54%
Cash & Equivalents	$5.636M	$4.001M
Short-Term Investments
Other Short-Term Assets	$2.020M	$1.528M
YoY Change	44.03%	38.34%
Inventory	$437.9K	$283.0K
Prepaid Expenses
Receivables	$8.498M	$10.56M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$40.94M	$41.87M
YoY Change	42.5%	33.21%
LONG-TERM ASSETS
Property, Plant & Equipment	$588.8K	$617.2K
YoY Change	-31.37%	-30.56%
Goodwill	$5.812M	$5.812M
YoY Change	0.0%	0.0%
Intangibles	$5.555M	$6.099M
YoY Change	-22.13%	-8.6%
Long-Term Investments
YoY Change
Other Assets	$489.7K	$489.7K
YoY Change	-68.55%	-79.8%
Total Long-Term Assets	$15.98M	$16.72M
YoY Change	-18.72%	-17.5%
TOTAL ASSETS
Total Short-Term Assets	$40.94M	$41.87M
Total Long-Term Assets	$15.98M	$16.72M
Total Assets	$56.92M	$58.60M
YoY Change	17.63%	13.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$9.991M	$14.03M
YoY Change	-27.89%	4.92%
Accrued Expenses	$25.06M	$22.59M
YoY Change	135.89%	63.19%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$38.30M	$39.50M
YoY Change	40.22%	29.24%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$4.650M	$4.941M
YoY Change	-15.45%	1.16%
Total Long-Term Liabilities	$4.650M	$4.941M
YoY Change	-15.45%	1.16%
TOTAL LIABILITIES
Total Short-Term Liabilities	$38.30M	$39.50M
Total Long-Term Liabilities	$4.650M	$4.941M
Total Liabilities	$43.07M	$44.58M
YoY Change	31.2%	25.76%
SHAREHOLDERS EQUITY
Retained Earnings	-$88.73M	-$88.30M
YoY Change	3.39%	4.01%
Common Stock	$9.487K	$9.487K
YoY Change	6.67%	6.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$13.85M	$14.02M
YoY Change
Total Liabilities & Shareholders Equity	$56.92M	$58.60M
YoY Change	17.63%	13.33%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	-$425.2K	-$499.6K
YoY Change	-53.84%	-40.68%
Depreciation, Depletion And Amortization	$821.7K	$906.9K
YoY Change	5.35%	17.51%
Cash From Operating Activities	$1.884M	-$1.081M
YoY Change	129.8%	-130.79%
INVESTING ACTIVITIES
Capital Expenditures	$62.70K	$11.51K
YoY Change	-75.88%	-96.79%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Cash From Investing Activities	-$62.70K	-$11.51K
YoY Change	-204.5%	-94.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-178.3K	-180.7K
YoY Change	11.41%	39.16%
NET CHANGE
Cash From Operating Activities	1.884M	-1.081M
Cash From Investing Activities	-62.70K	-11.51K
Cash From Financing Activities	-178.3K	-180.7K
Net Change In Cash	1.643M	-1.273M
YoY Change	128.26%	-140.22%
FREE CASH FLOW
Cash From Operating Activities	$1.884M	-$1.081M
Capital Expenditures	$62.70K	$11.51K
Free Cash Flow	$1.822M	-$1.092M
YoY Change	225.3%	-134.66%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	us-gaap	Interest Paid Net InterestPaidNet	115019	usd
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	81359	usd
CY2024Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	2045714	shares
CY2024Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2024Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	30000000	shares
CY2024Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	9485508	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	8893220	shares
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-82917	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	6412	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	7856266	usd
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-90629	usd
	us-gaap	Increase Decrease In Deferred Liabilities IncreaseDecreaseInDeferredLiabilities	303130	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2637380	usd
	us-gaap	Payments To Develop Software PaymentsToDevelopSoftware	0	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-536955	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-2920261	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6921160	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7530864	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	4000899	usd
	us-gaap	Interest Paid Net InterestPaidNet	117521	usd
	us-gaap	Cost Of Goods And Services Sold Depreciation And Amortization CostOfGoodsAndServicesSoldDepreciationAndAmortization	1010585	usd
	wyy	Share Based Compensation Expenses Included In General And Administrative Expense ShareBasedCompensationExpensesIncludedInGeneralAndAdministrativeExpense	783741	usd
	wyy	Share Based Compensation Expenses Included In General And Administrative Expense ShareBasedCompensationExpensesIncludedInGeneralAndAdministrativeExpense	235570	usd
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	69652	usd
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-1181599	usd
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-1723900	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	4000899	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6921160	usd
CY2024Q2	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	78334	usd
CY2024Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	10560802	usd
CY2023Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	8219793	usd
CY2024Q2	us-gaap	Unbilled Receivables Current UnbilledReceivablesCurrent	25784217	usd
CY2023Q4	us-gaap	Unbilled Receivables Current UnbilledReceivablesCurrent	16618639	usd
CY2024Q2	us-gaap	Other Assets Current OtherAssetsCurrent	1527940	usd
CY2023Q4	us-gaap	Other Assets Current OtherAssetsCurrent	1083671	usd
CY2024Q2	us-gaap	Assets Current AssetsCurrent	41873858	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	32843263	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	780800	usd
CY2024Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	3707771	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4045222	usd
CY2024Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	6098664	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	7336348	usd
CY2024Q2	us-gaap	Goodwill Goodwill	5811578	usd
CY2023Q4	us-gaap	Goodwill Goodwill	5811578	usd
CY2024Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	489700	usd
CY2023Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	483288	usd
CY2024Q2	us-gaap	Assets Assets	58598774	usd
CY2023Q4	us-gaap	Assets Assets	51300499	usd
CY2024Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	14033887	usd
CY2023Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	12633658	usd
CY2024Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	22594181	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	16175702	usd
CY2024Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2269718	usd
CY2023Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2009343	usd
CY2024Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	600819	usd
CY2024Q2	us-gaap	Liabilities Current LiabilitiesCurrent	39498605	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	31456961	usd
CY2024Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	3874080	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	4114516	usd
CY2024Q2	wyy	Contingent Consideration ContingentConsideration	6900	usd
CY2023Q4	wyy	Contingent Consideration ContingentConsideration	6900	usd
CY2024Q2	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	1059922	usd
CY2023Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	1027770	usd
CY2024Q2	us-gaap	Liabilities Liabilities	44577584	usd
CY2023Q4	us-gaap	Liabilities Liabilities	36623070	usd
CY2024Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies	0	usd
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies	0	usd
CY2024Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2024Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2024Q2	us-gaap	Common Stock Value CommonStockValue	9487	usd
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	8894	usd
CY2023Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	102151381	usd
CY2024Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-363835	usd
CY2023Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-334899	usd
CY2024Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-88300610	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-87147947	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	14021190	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	14677429	usd
CY2024Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	58598774	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	51300499	usd
	us-gaap	Profit Loss ProfitLoss	-1152663	usd
	us-gaap	Profit Loss ProfitLoss	-1793552	usd
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	117700	usd
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	usd
	us-gaap	Depreciation Depreciation	516833	usd
	us-gaap	Depreciation Depreciation	532557	usd
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	13725	usd
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	34037	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1223491	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1007555	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	783741	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	235570	usd
	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	11774202	usd
	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	2158825	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	85066	usd
	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	511277	usd
	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	54040	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-27161	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	2197714	usd
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	25535	usd
	us-gaap	Increase Decrease In Deferred Liabilities IncreaseDecreaseInDeferredLiabilities	1049118	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1020975	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	18001	usd
	us-gaap	Payments To Develop Software PaymentsToDevelopSoftware	614914	usd
	us-gaap	Proceeds From Sale Of Other Receivables ProceedsFromSaleOfOtherReceivables	259125	usd
	us-gaap	Proceeds From Sale Of Other Receivables ProceedsFromSaleOfOtherReceivables	143116	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	241124	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-574812	usd
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	4600000	usd
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	6493284	usd
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	4600000	usd
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	6493284	usd
	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	278574	usd
	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	255436	usd
	wyy	Withholding Taxes Paid On Behalf Of Employees On Net Settled Restricted Stock Awards WithholdingTaxesPaidOnBehalfOfEmployeesOnNetSettledRestrictedStockAwards	258381	usd
	wyy	Withholding Taxes Paid On Behalf Of Employees On Net Settled Restricted Stock Awards WithholdingTaxesPaidOnBehalfOfEmployeesOnNetSettledRestrictedStockAwards	3628	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-259064	usd
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	12950	usd
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	57150	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	244249	usd
	wyy	Capitalized Hardware And Software Development Costs In Accounts Payable CapitalizedHardwareAndSoftwareDevelopmentCostsInAccountsPayable	0	usd
	wyy	Capitalized Hardware And Software Development Costs In Accounts Payable CapitalizedHardwareAndSoftwareDevelopmentCostsInAccountsPayable	77873	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring use of estimates and judgment relate to revenue recognition, allowance for credit losses, ability to realize intangible assets and goodwill, ability to realize deferred income tax assets, fair value of certain financial instruments and the evaluation of contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. There were no significant changes in accounting estimates used by management during the quarter. </p>
	wyy	Significant Accounting Policytextblock SignificantAccountingPolicytextblock	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">There were no significant changes in the Company’s significant accounting policies during the first six months of 2024 from those disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 26, 2024.</p>
CY2024Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	0	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	72090	usd
CY2024Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	22594181	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	16175702	usd
CY2024Q2	wyy	Warrantsto Purchasec Cmmon Shares Outstanding WarrantstoPurchasecCmmonSharesOutstanding	150000	shares
	dei	Entity Central Index Key EntityCentralIndexKey	0001034760
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	2045714	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	30000000	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	8893220	shares
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2024-06-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-33035
	dei	Entity Registrant Name EntityRegistrantName	WidePoint Corporation
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	52-2040275
	dei	Entity Address Address Line1 EntityAddressAddressLine1	11250 Waples Mill Road
	dei	Entity Address Address Line2 EntityAddressAddressLine2	South Tower 210
	dei	Entity Address City Or Town EntityAddressCityOrTown	Fairfax
	dei	Entity Address State Or Province EntityAddressStateOrProvince	VA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	22030
	dei	City Area Code CityAreaCode	703
	dei	Local Phone Number LocalPhoneNumber	349-2577
	dei	Security12b Title Security12bTitle	Common Stock, $0.001 par value per share
	dei	Trading Symbol TradingSymbol	WYY
	dei	Security Exchange Name SecurityExchangeName	NYSE
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2024Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	9652172	shares
CY2024Q2	us-gaap	Revenues Revenues	36040771	usd
CY2023Q2	us-gaap	Revenues Revenues	26762857	usd
	us-gaap	Revenues Revenues	70248050	usd
	us-gaap	Revenues Revenues	52036538	usd
CY2024Q2	us-gaap	Cost Of Goods And Services Sold Depreciation And Amortization CostOfGoodsAndServicesSoldDepreciationAndAmortization	654122	usd
CY2023Q2	us-gaap	Cost Of Goods And Services Sold Depreciation And Amortization CostOfGoodsAndServicesSoldDepreciationAndAmortization	508025	usd
	us-gaap	Cost Of Goods And Services Sold Depreciation And Amortization CostOfGoodsAndServicesSoldDepreciationAndAmortization	1231027	usd
CY2024Q2	us-gaap	Cost Of Revenue CostOfRevenue	31147549	usd
CY2023Q2	us-gaap	Cost Of Revenue CostOfRevenue	22853220	usd
	us-gaap	Cost Of Revenue CostOfRevenue	60688937	usd
	us-gaap	Cost Of Revenue CostOfRevenue	44316961	usd
CY2024Q2	us-gaap	Gross Profit GrossProfit	4893222	usd
CY2023Q2	us-gaap	Gross Profit GrossProfit	3909637	usd
	us-gaap	Gross Profit GrossProfit	9559113	usd
	us-gaap	Gross Profit GrossProfit	7719577	usd
CY2024Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	559926	usd
CY2023Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	542172	usd
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1171819	usd
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1063850	usd
CY2024Q2	wyy	Share Based Compensation Expenses Included In General And Administrative Expense ShareBasedCompensationExpensesIncludedInGeneralAndAdministrativeExpense	365958	usd
CY2023Q2	wyy	Share Based Compensation Expenses Included In General And Administrative Expense ShareBasedCompensationExpensesIncludedInGeneralAndAdministrativeExpense	95454	usd
CY2024Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	4542769	usd
CY2023Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3830513	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	8991252	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	7741333	usd
CY2024Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	252112	usd
CY2023Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	263684	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	508646	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	529527	usd
CY2024Q2	us-gaap	Operating Expenses OperatingExpenses	5354807	usd
CY2023Q2	us-gaap	Operating Expenses OperatingExpenses	4636369	usd
	us-gaap	Operating Expenses OperatingExpenses	10671717	usd
	us-gaap	Operating Expenses OperatingExpenses	9334710	usd
CY2024Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-461585	usd
CY2023Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-726732	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1112604	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-1615133	usd
CY2024Q2	us-gaap	Interest Income Other InterestIncomeOther	51725	usd
CY2023Q2	us-gaap	Interest Income Other InterestIncomeOther	9245	usd
	us-gaap	Interest Income Other InterestIncomeOther	101151	usd
	us-gaap	Interest Income Other InterestIncomeOther	11441	usd
CY2024Q2	us-gaap	Interest Expense InterestExpense	72331	usd
CY2023Q2	us-gaap	Interest Expense InterestExpense	56910	usd
	us-gaap	Interest Expense InterestExpense	131068	usd
	us-gaap	Interest Expense InterestExpense	115688	usd
CY2024Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1534	usd
CY2023Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-18864	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-36405	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-19058	usd
CY2024Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-22140	usd
CY2023Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-66529	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-66322	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-123305	usd
CY2024Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-483725	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-793261	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1178926	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1738438	usd
CY2024Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	15828	usd
CY2023Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	48812	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-26263	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	55114	usd
CY2024Q2	us-gaap	Profit Loss ProfitLoss	-499553	usd
CY2023Q2	us-gaap	Profit Loss ProfitLoss	-842073	usd
	us-gaap	Profit Loss ProfitLoss	-1152663	usd
	us-gaap	Profit Loss ProfitLoss	-1793552	usd
CY2024Q2	wyy	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.05
CY2023Q2	wyy	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.10
	wyy	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.13
	wyy	Earnings Per Shares Basic And Diluted EarningsPerSharesBasicAndDiluted	-0.20
CY2024Q2	wyy	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	9390154	shares
CY2023Q2	wyy	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	8794704	shares
	wyy	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	9151265	shares
	wyy	Weighted Average Number Of Shares Outstanding Basic And Diluted WeightedAverageNumberOfSharesOutstandingBasicAndDiluted	8767163	shares
CY2024Q2	us-gaap	Profit Loss ProfitLoss	-499553	usd
CY2023Q2	us-gaap	Profit Loss ProfitLoss	-842073	usd
	us-gaap	Profit Loss ProfitLoss	-1152663	usd
	us-gaap	Profit Loss ProfitLoss	-1793552	usd
CY2024Q2	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-6716	usd
CY2023Q2	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	32404	usd
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-28936	usd
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	69652	usd
CY2024Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-6716	usd
CY2023Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	32404	usd
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-28936	usd
CY2024Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-506269	usd
CY2023Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-809669	usd
CY2024Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	617203	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	638258	usd
CY2024Q2	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	138077	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	16923	usd
CY2024Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2024Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	102676148	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	0	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-3211	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	103014	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7775113	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	17751203	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	-3628	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	140116	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	37248	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-951479	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	16973460	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	95454	usd
CY2023Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	32404	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-842073	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	16259245	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	14677429	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	-218783	usd
CY2024Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	389393	usd
CY2024Q1	wyy	Stock Compensation Expense Non Qualified Stock Options StockCompensationExpenseNonQualifiedStockOptions	28390	usd
CY2024Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-22220	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-653110	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	14201099	usd
CY2024Q2	us-gaap	Stock Issued During Period Value Other StockIssuedDuringPeriodValueOther	-39598	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	337568	usd
CY2024Q2	wyy	Stock Compensation Expense Non Qualified Stock Options StockCompensationExpenseNonQualifiedStockOptions	28390	usd
CY2024Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-6716	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-499553	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	14021190	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1. Organization and Nature of Operations</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Organization</em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">WidePoint Corporation (“WidePoint” or the “Company”) was incorporated in Delaware on May 30, 1997 and conducts operations through its wholly-owned operating subsidiaries throughout the continental United States, Ireland, the Netherlands and the United Kingdom. The Company’s principal executive and administrative headquarters is located in Fairfax, Virginia. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>Nature of Operations</em></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The Company is a leading provider of Technology Management as a Service (TMaaS). The Company’s TMaaS platform and service solutions enable its customers to efficiently secure, manage and analyze the entire lifecycle of their mobile communications assets through its federally compliant platform Intelligent Technology Management System (ITMS™). The Company’s ITMS platform is SSAE 18 compliant and was granted an Authority to Operate by the U.S. Department of Homeland Security. Additionally, the Company was granted an Authority to Operate by the General Services Administration with regard to its identity credentialing component of its TMaaS platform. The Company’s TMaaS platform is internally hosted and accessible on-demand through a secure customer portal that is specially configured for each customer. The Company can deliver these solutions in a number of configurations ranging from utilizing the platform as a service to a full-service solution that includes full lifecycle support for all end users and the organization. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">A significant portion of the Company’s expenses, such as personnel and facilities costs, are fixed in the short term and may not be easily modified to manage through changes in the Company’s market place that may create pressure on pricing and/or costs to deliver its services.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">The Company has periodic capital expense requirements to maintain and upgrade its internal technology infrastructure tied to its hosted solutions and other such costs may be significant when incurred in any given quarter. </p>
CY2024Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	9485508	shares

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$WYY
WIDEPOINT CORP Stock $wyy

2024 Q3 Form 10-Q Financial Statement

#000165495424010643 Filed on August 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$WYY WIDEPOINT CORP Stock $wyy

2024 Q3 Form 10-Q Financial Statement

#000165495424010643 Filed on August 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$WYY
WIDEPOINT CORP Stock $wyy