WidePoint Corporation (NYSE:WYY) shares jumped 16.48% to $10.46 in after-hours trading on Thursday after the Virginia-based secure mobile management provider reported first-quarter results, topping both revenue and earnings per share estimates.
EPS Crushes Estimates by 108%
For the quarter ended Mar. 31, WidePoint posted EPS of $0.01, beating the analyst estimate of negative $0.12 by 108.33%, while revenue of $40.60 million came in 6.66% above the $38.07 million analyst forecast.
The beat marks a notable turnaround, as WidePoint had missed EPS estimates in each of the previous three quarters.
Adjusted EBITDA, a non-GAAP measure, surged 714% year-over-year to $752,000, while free cash flow increased 941% to $674,000.
CEO Jin Kang cited both federal resilience and cost discipline as drivers. “Despite the record-long DHS shutdown, we were able to navigate the prolonged period of uncertainty with minimal impact,” Kang said.
Trading Metrics, Technical Analysis
WidePoint has a market capitalization of $88.66 million, a 52-week high of $10.49 and a 52-week low of $2.80.
The Relative Strength Index (RSI) of WYY stands at 65.49.
The small-cap stock of the technology company has gained 69.43% over the past 12 months.
Currently, the stock is positioned at about 80% of its 52-week range.
WYY’s long-term trend and strong positioning suggest continued upside potential.
Price Action: The stock closed the regular session up 8.98% at $8.98, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that WYY stock is experiencing a positive price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.