WidePoint Q1 revenue $22.4M; net loss $0.04/share; appoints new CFO; suspends buyback

WIDEPOINT CORP

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

Q1 revenue $22.4M; net loss $393k ($0.04 diluted EPS); adjusted EBITDA $344k.
Gross margin 17%; Managed Services revenue up 2% YoY to $9.5M.
Appointed Bob George as CFO (effective Apr 1), replacing Kellie Kim (retired).
Full-year 2022 guidance: revenue $92-98M, adjusted EBITDA $2.5-3.5M.
Share repurchase paused after buying 196.6k shares for $818k; board shifted cash to investments.

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