WidePoint Reports Increased Revenue but Sustains Loss
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WidePoint reported Q3 earnings with revenue increasing to $36.1 million from $34.6 million YoY. Despite higher revenue, the company sustained a net loss of $559,185, up from $425,210 last year. Gross profit rose to $5.3 million, but higher operating expenses led to a loss from operations of $460,636. Cash and cash equivalents improved to $12.1 million. Management aims to leverage its TMaaS platform for growth and better financial performance despite fixed costs and competitive pressures.
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