5 Best Debt-Free IT Stocks to Buy Now

In this article, we will list the 5 Best Debt-Free IT Stocks to Buy Now. Please visit 10 Best Debt-Free IT Stocks to Buy Now if you would like to see the extended list and the methodology behind it.

5. WidePoint Corporation (NYSEAMERICAN:WYY)

EV-to-Market Cap Ratio: 0.94

Stock Upside Potential: 3.45%

Number of Hedge Fund Holders: 3

WidePoint Corporation (NYSEAMERICAN:WYY) is one of the best debt-free IT stocks to buy now. On May 14, WidePoint Corporation (NYSEAMERICAN:WYY) delivered solid first-quarter results, driven by year-over-year revenue growth at the back of cost management efforts. The company also achieved positive earnings per share despite an extended period of uncertainty at DHS.

Revenue in the quarter increased by $7.1 million to $40.6 million, while gross margin was 14%. The company also bounced back to profitability, reporting net income of $77,000, or $0.01 a share, compared to a net loss of $724,000, or $0.08 a share, posted in the same quarter last year. Widepoint also achieved its 35th consecutive quarter of positive EBITDA of $752,000, representing a 714% year-over-year increase.

Free cash flow was up 941% to $674,000, marking a 10th consecutive quarter of positive returns. While the government shutdown did affect the company in the first quarter, a majority of DHS agencies have received funding and budget momentum, acting as a meaningful tailwind. The company has already received a contract modification to June 24, as it continues to advance the carrier SaaS contract through implementation and functionality testing.

WidePoint Corporation (NYSE:NYSEAMERICAN) is an IT Managed Services Provider (MSP) that secures mobile workforces and enterprise infrastructures. They specialize in Identity and Access Management (IAM), Trusted Mobility Management (TM2), and Telecom Lifecycle Management. Their cloud-based platforms allow federal agencies and enterprises to control, secure, and audit their mobile ecosystems.