Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of WidePoint.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106.03M | $94.10M | $87.34M | $180.34M | $101.72M | $83.68M | $75.88M | $78.42M | $70.84M | $53.32M |
| Cost of Revenue | $90.38M | $79.53M | $70.97M | $159.89M | $84.34M | $68.41M | $62.19M | $64.41M | $57.61M | $39.80M |
| Gross Profit | $15.65M | $14.58M | $16.37M | $20.46M | $17.38M | $15.27M | $13.69M | $14.01M | $13.23M | $13.51M |
| Gross Profit Ratio | 14.76% | 15.49% | 18.70% | 11.34% | 17.08% | 18.25% | 18.04% | 17.87% | 18.68% | 25.35% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $219.14K | $699.01K | $673.09K | $480.12K |
| General and Administrative Expenses | $15.88M | $14.72M | $12.72M | $14.27M | $13.84M | $13.30M | $14.39M | $14.45M | $14.61M | $14.36M |
| Selling and Marketing Expenses | $2.19M | $2.13M | $2.01M | $1.87M | $1.66M | $1.74M | $2.20M | $2.67M | $3.03M | $3.43M |
| Selling General and Administrative Expenses | $18.07M | $16.85M | $14.73M | $16.14M | $15.50M | $15.04M | $16.60M | $17.12M | $17.64M | $17.79M |
| Other Expenses | $1.27M | $1.08M | $1.03M | $1.09M | $988.15K | $-2 | $3.81K | $13.54K | $33.01K | $12.89K |
| Operating Expenses | $19.35M | $17.93M | $15.76M | $17.23M | $16.49M | $15.46M | $17.15M | $18.17M | $18.69M | $18.16M |
| Cost and Expenses | $109.73M | $97.46M | $86.73M | $177.12M | $100.83M | $83.87M | $79.35M | $82.58M | $76.30M | $57.97M |
| Interest Income | $90.68K | $41.83K | $4.16K | $3.94K | $5.36K | $6.80K | $15.35K | $14.59K | $23.03K | $17.00K |
| Interest Expense | $239.53K | $259.64K | $273.23K | $302.92K | $310.58K | $79.54K | $52.16K | $72.23K | $142.50K | $186.80K |
| Depreciation and Amortization | $3.37M | $2.53M | $1.66M | $1.63M | $1.91M | $1.31M | $1.49M | $1.56M | $383.26K | $1.84M |
| EBITDA | $-302.84K | $-15.72M | $2.91M | $4.85M | $2.80M | $1.12M | $-1.95M | $-2.57M | $-3.84M | $-2.78M |
| EBITDA Ratio | -0.29% | 0.60% | 2.61% | 2.39% | 1.89% | 0.28% | -4.09% | -4.82% | -7.09% | -5.22% |
| Operating Income | $-3.70M | $-1.97M | $1.25M | $3.22M | $885.25K | $-190.41K | $-3.46M | $-4.16M | $-5.46M | $-4.65M |
| Operating Income Ratio | -3.49% | -2.09% | 1.44% | 1.79% | 0.87% | -0.23% | -4.56% | -5.31% | -7.71% | -8.72% |
| Total Other Income Expenses Net | $-211.44K | $1.13M | $373.93K | $-298.52K | $-266.35K | $-72.75K | $-33.00K | $-44.10K | $-86.46K | $-156.90K |
| Income Before Tax | $-3.91M | $-18.51M | $981.54K | $2.92M | $618.90K | $-263.15K | $-3.50M | $-4.21M | $-5.55M | $-4.81M |
| Income Before Tax Ratio | -3.69% | -19.67% | 1.12% | 1.62% | 0.61% | -0.31% | -4.61% | -5.37% | -7.83% | -9.02% |
| Income Tax Expense | $133.24K | $5.08M | $640.45K | $-7.40M | $392.65K | $1.19M | $37.97K | $-73.45K | $-81.81K | $3.59M |
| Net Income | $-4.05M | $-23.59M | $341.10K | $10.32M | $226.25K | $-1.46M | $-3.53M | $-4.13M | $-5.47M | $-8.40M |
| Net Income Ratio | -3.82% | -25.06% | 0.39% | 5.72% | 0.22% | -1.74% | -4.66% | -5.27% | -7.72% | -15.76% |
| EPS | $-0.46 | $-2.70 | $0.04 | $1.22 | $0.03 | $-0.17 | $-0.43 | $-0.50 | $-0.66 | $-1.15 |
| EPS Diluted | $-0.46 | $-2.70 | $0.04 | $1.20 | $0.03 | $-0.17 | $-0.43 | $-0.50 | $-0.66 | $-1.15 |
| Weighted Average Shares Outstanding | 8.83M | 8.73M | 9.07M | 8.46M | 8.40M | 8.33M | 8.29M | 8.27M | 8.22M | 7.30M |
| Weighted Average Shares Outstanding Diluted | 8.83M | 8.73M | 9.16M | 8.60M | 8.40M | 8.33M | 8.29M | 8.27M | 8.22M | 7.30M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $6.92M | $7.53M | $6.48M | $16.00M | $6.88M | $2.43M | $5.27M | $9.12M | $7.93M | $13.15M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $6.92M | $7.53M | $6.48M | $16.00M | $6.88M | $2.43M | $5.27M | $9.12M | $7.93M | $13.15M |
| Net Receivables | $24.84M | $19.52M | $23.47M | $49.73M | $28.56M | $20.66M | $16.26M | $13.31M | $17.20M | $14.12M |
| Inventory | $366.13K | $222.28K | $590.07K | $990.98K | $213.71K | $183.90K | $157.06K | $123.29K | $28.40K | $37.02K |
| Other Current Assets | $717.54K | $713.70K | $2.60M | $772.66K | $881.13K | $902.79K | $610.89K | $428.28K | $901.49K | $445.32K |
| Total Current Assets | $32.84M | $27.99M | $33.15M | $67.49M | $36.53M | $24.17M | $22.30M | $22.99M | $25.63M | $27.75M |
| Property Plant Equipment Net | $4.83M | $5.70M | $7.11M | $6.67M | $6.61M | $1.01M | $1.32M | $736.68K | $1.51M | $1.61M |
| Goodwill | $5.81M | $5.81M | $22.09M | $18.56M | $18.56M | $18.56M | $18.56M | $18.56M | $18.56M | $18.56M |
| Intangible Assets | $7.34M | $7.40M | $6.23M | $2.19M | $2.45M | $3.10M | $3.67M | $4.30M | $5.10M | $5.99M |
| Goodwill and Intangible Assets | $13.15M | $13.21M | $28.32M | $20.74M | $21.01M | $21.66M | $22.23M | $22.85M | $23.66M | $24.55M |
| Long Term Investments | $- | $67.75K | $94.91K | $- | $-1.26M | $-1.58M | $- | $-48.83K | $-30.89K | $-18.58K |
| Tax Assets | $- | $86.91K | $5.13M | $5.61M | $1.26M | $1.58M | $- | $48.83K | $30.89K | $18.58K |
| Other Non-Current Assets | $483.29K | $1.96M | $1.69M | $815.01K | $140.40K | $209.10K | $44.55K | $646.83K | $60.47K | $161.99K |
| Total Non-Current Assets | $18.46M | $21.02M | $42.34M | $33.83M | $27.76M | $22.88M | $23.59M | $24.24M | $25.23M | $26.32M |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $51.30M | $49.01M | $75.49M | $101.32M | $64.29M | $47.06M | $45.89M | $47.23M | $50.86M | $54.08M |
| Account Payables | $12.63M | $12.52M | $10.26M | $36.22M | $13.58M | $7.36M | $7.27M | $8.67M | $7.81M | $6.17M |
| Short Term Debt | $638.26K | $1.19M | $1.59M | $1.16M | $599.62K | $253.26K | $234.84K | $230.73K | $1.05M | $2.40M |
| Tax Payables | $1.68M | $1.71M | $2.22M | $2.78M | $1.83M | $1.33M | $1.27M | $5.14K | $37.68K | $12.57K |
| Deferred Revenue | $2.01M | $1.70M | $2.28M | $2.02M | $2.27M | $2.07M | $2.35M | $1.19M | $2.01M | $710.27K |
| Other Current Liabilities | $14.49M | $9.02M | $9.69M | $12.27M | $13.25M | $9.44M | $8.60M | $7.91M | $6.69M | $5.99M |
| Total Current Liabilities | $31.46M | $26.14M | $26.04M | $54.44M | $31.53M | $20.45M | $19.72M | $18.00M | $17.60M | $15.28M |
| Long Term Debt | $4.11M | $4.75M | $6.03M | $5.93M | $5.59M | $- | $232.11K | $412.18K | $443.72K | $1.36M |
| Deferred Revenue Non-Current | $1.03M | $364.84K | $400.14K | $398.41K | $363.56K | $466.71K | $264.19K | $- | $24.94K | $56.98K |
| Deferred Tax Liabilities Non-Current | $- | $2.19M | $5.09M | $4.73M | $1.87M | $1.52M | $392.23K | $447.81K | $447.81K | $447.81K |
| Other Non-Current Liabilities | $23.82K | $6.90K | $1.35M | $- | $- | $73.95K | $78.34K | $86.20K | $151.99K | $154.78K |
| Total Non-Current Liabilities | $5.17M | $5.12M | $7.77M | $6.33M | $7.83M | $2.19M | $966.86K | $946.19K | $1.07M | $2.02M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $36.62M | $31.26M | $33.81M | $60.77M | $39.35M | $22.64M | $20.68M | $18.95M | $18.67M | $17.30M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $8.89K | $8.73K | $8.84K | $8.88K | $83.86K | $84.11K | $83.03K | $82.73K | $82.52K | $81.66K |
| Retained Earnings | $-87.15M | $-83.10M | $-59.52M | $-59.86M | $-70.18M | $-70.41M | $-68.95M | $-65.42M | $-61.28M | $-55.82M |
| Accumulated Other Comprehensive Income Loss | $-334.90K | $-350.23K | $-241.59K | $-104.61K | $-242.59K | $-186.49K | $-122.46K | $-309.37K | $-270.14K | $-147.51K |
| Other Total Stockholders Equity | $102.15M | $101.19M | $101.42M | $100.50M | $95.28M | $94.93M | $94.20M | $93.92M | $93.66M | $92.66M |
| Total Stockholders Equity | $14.68M | $17.75M | $41.68M | $40.55M | $24.94M | $24.42M | $25.21M | $28.28M | $32.19M | $36.78M |
| Total Equity | $14.68M | $17.75M | $41.68M | $40.55M | $24.94M | $24.42M | $25.21M | $28.28M | $32.19M | $36.78M |
| Total Liabilities and Stockholders Equity | $51.30M | $49.01M | $75.49M | $101.32M | $64.29M | $47.06M | $45.89M | $47.23M | $50.86M | $54.08M |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $51.30M | $49.01M | $75.49M | $101.32M | $64.29M | $47.06M | $45.89M | $47.23M | $50.86M | $54.08M |
| Total Investments | $-442.70K | $67.75K | $94.91K | $- | $-1.26M | $-1.58M | $- | $-48.83K | $-30.89K | $-18.58K |
| Total Debt | $4.75M | $5.34M | $6.82M | $6.51M | $6.19M | $229.37K | $615.31K | $642.91K | $1.50M | $3.76M |
| Net Debt | $-2.17M | $-2.19M | $339.89K | $-9.49M | $-686.36K | $-2.20M | $-4.66M | $-8.48M | $-6.43M | $-9.39M |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-4.05M | $-23.59M | $341.10K | $10.32M | $226.25K | $-1.46M | $-3.53M | $-4.13M | $-5.47M | $-8.40M |
| Depreciation and Amortization | $3.37M | $2.54M | $1.66M | $1.63M | $1.91M | $1.31M | $1.49M | $1.56M | $1.57M | $1.84M |
| Deferred Income Tax | $107.16K | $5.03M | $470.36K | $-7.47M | $343.66K | $1.13M | $-1.62K | $-17.94K | $-12.30K | $3.69M |
| Stock Based Compensation | $960.99K | $528.58K | $883.76K | $810.28K | $717.99K | $683.40K | $387.21K | $310.99K | $299.34K | $324.28K |
| Change in Working Capital | $-9.62K | $6.61M | $-3.96M | $1.08M | $2.63M | $-3.82M | $-1.53M | $4.74M | $682.72K | $-91.64K |
| Accounts Receivables | $-4.69M | $3.95K | $25.53M | $-20.93M | $-7.88M | $-4.50M | $-2.77M | $4.38M | $-2.95M | $-3.81M |
| Inventory | $-143.67K | $367.55K | $400.56K | $-776.88K | $-29.87K | $-26.99K | $-33.06K | $-95.12K | $8.49K | $66.63K |
| Accounts Payables | $3.84M | $1.25M | $-30.19M | $23.06M | $10.44M | $1.19M | $151.73K | $1.31M | $2.15M | $3.86M |
| Other Working Capital | $983.87K | $4.98M | $290.46K | $-264.59K | $99.90K | $-480.04K | $1.12M | $-857.56K | $1.47M | $-210.28K |
| Other Non Cash Items | $242.32K | $14.95M | $-614.45K | $2.24K | $27.04K | $22.11K | $194.90K | $253.40K | $29.64K | $48.47K |
| Net Cash Provided by Operating Activities | $625.25K | $6.07M | $-1.22M | $6.39M | $5.85M | $-2.13M | $-2.99M | $2.71M | $-2.90M | $-2.59M |
| Investments in Property Plant and Equipment | $-208.20K | $-3.41M | $-2.75M | $-1.16M | $-516.55K | $-490.35K | $-1.06M | $-607.55K | $-599.97K | $-401.52K |
| Acquisitions Net | $- | $- | $-4.69M | $- | $- | $- | $291.53K | $1.11K | $- | $-4.08M |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $-412.78K | $-3.16M | $-2.50M | $-902.58K | $-146.23K | $-228.84K | $291.53K | $1.11K | $-186.35K | $33.19K |
| Net Cash Used for Investing Activities | $-620.99K | $-3.41M | $-7.44M | $-1.16M | $-516.55K | $-490.35K | $-772.96K | $-606.45K | $-599.97K | $-4.45M |
| Debt Repayment | $-586.52K | $-600.44K | $-572.08K | $-608.00K | $-473.28K | $-101.70K | $-162.18K | $-849.40K | $-2.25M | $-1.20M |
| Common Stock Issued | $- | $- | $1.07M | $4.35M | $- | $44.00K | $17.10K | $- | $701.71K | $22.02M |
| Common Stock Repurchased | $-3.63K | $-818.21K | $-1.24M | $-10.11K | $-365.69K | $- | $-122.34K | $-32.33K | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $-3.63K | $-49.22K | $38.38K | $5.00K | $-5.00K | $-56.00K | $-14.17K | $- | $701.71K | $21.56M |
| Net Cash Used Provided by Financing Activities | $-590.15K | $-1.47M | $-705.70K | $3.73M | $-843.96K | $-157.70K | $-298.69K | $-881.74K | $-1.55M | $20.36M |
| Effect of Forex Changes on Cash | $-23.82K | $-140.79K | $-144.98K | $155.51K | $-46.59K | $-57.63K | $212.37K | $-30.26K | $-170.88K | $-171.70K |
| Net Change in Cash | $-609.70K | $1.05M | $-9.52M | $9.12M | $4.45M | $-2.84M | $-3.85M | $1.19M | $-5.22M | $13.15M |
| Cash at End of Period | $6.92M | $7.53M | $6.48M | $16.00M | $6.88M | $2.43M | $5.27M | $9.12M | $7.93M | $13.15M |
| Cash at Beginning of Period | $7.53M | $6.48M | $16.00M | $6.88M | $2.43M | $5.27M | $9.12M | $7.93M | $13.15M | $- |
| Operating Cash Flow | $625.25K | $6.07M | $-1.22M | $6.39M | $5.85M | $-2.13M | $-2.99M | $2.71M | $-2.90M | $-2.59M |
| Capital Expenditure | $-1.09M | $-3.41M | $-2.75M | $-1.16M | $-516.55K | $-490.35K | $-1.06M | $-607.55K | $-599.97K | $-401.52K |
| Free Cash Flow | $-464.84K | $2.66M | $-3.98M | $5.23M | $5.34M | $-2.63M | $-4.06M | $2.10M | $-3.50M | $-2.99M |