WidePoint Q4 2021 revenue $24.5M, net loss $0.06 EPS; full year net income $0.04 EPS

WIDEPOINT CORP

2022-Q1 EPS reported -$0.04 revenue$22,436,427

Q4 revenue $24.5M vs $28.4M YoY; net loss $575K ($0.06 diluted loss) vs net income $8.3M in prior year.
Full year 2021 revenue $87.3M (down from $180.3M due to Census project end); net income $341K ($0.04 diluted EPS).
Managed Services revenue up 25% YoY in Q4 excluding Census project; gross margin improved to 18.7% for full year.
Acquired IT Authorities (ITaaS); appointed Bob George as CFO effective April 1, 2022; board suspended share repurchase in March 2022.
Company expects managed services revenue growth of 5-10% in 2022; full guidance to be provided with Q1 2022 results.

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