The following is a summary of the WidePoint Corporation (WYY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• WidePoint Corporation noted profitable Q4 2023 results, with reported revenues of $28.3 million, marking a 21% growth from last year.

• They closed FY 2023 with a total revenue of around $106 million which is an affirmation of their successful financial strategy.

• The fiscal year produced a consistent positive adjusted EBITDA with the company recording positive growth for the 26th consecutive quarter.

• Both gross profit and free cash flow for 2023 remained steady at 15% of total revenue and $300,000 respectively, with the company expecting these trends to persist in 2024.

Business Progress:

• The company closed FY 2023 with over 30 contracts valued at over $70 million and a backlog worth $359 million, putting it in a solid position heading into FY 2024.

• WidePoint maintained a strong control over the mobility management solutions market with a customer retention rate over 90%.

• The company's major projects, the ITMS and enhancements to the COOP, are nearing completion indicating a promise of progress.

• WidePoint anticipates a revenue between $120 to $133 million in FY 2024 and adjusted EBITDA from $2.1 to $2.4 million, indicating a positive trajectory.

• They're considering future investments in sales, marketing, strategic hires, and possibly a stock repurchase program with the accumulating cash balance.

• The growing sales pipeline, especially in the IAM and MMS market sectors, promises wider business opportunities in the near future.

More details: WidePoint IR

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