WidePoint Sees FY23 Revenue $103M-$108M Vs $104.16M Est.
Portfolio Pulse from Benzinga Newsdesk
WidePoint Corporation expects FY23 revenue to be between $103M-$108M, aligning with the $104.16M estimate. The company has achieved positive Adjusted EBITDA for the 25th consecutive quarter and anticipates free cash flow to exceed 2022 by $3.5M. CEO Jin Kang credits capital investments and sales/marketing initiatives for the growth and remains committed to shareholder value and adaptability in a dynamic market.
November 14, 2023 | 10:04 pm
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POSITIVE IMPACT
WidePoint Corporation anticipates FY23 revenue to meet estimates and has maintained a positive Adjusted EBITDA streak. The company expects increased free cash flow and is optimistic about growth from recent investments.
The positive outlook provided by WidePoint's CEO, including meeting revenue estimates and a significant increase in free cash flow, is likely to instill investor confidence and could lead to a short-term positive impact on the stock price. The company's consistent performance in terms of Adjusted EBITDA and the anticipation of growth from capital investments and sales initiatives further support a positive impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100