Welcome to our dedicated page for Widepoint news (Ticker: WYY), a resource for investors and traders seeking the latest updates and insights on Widepoint stock.
Overview of WidePoint Corporation
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Lifecycle Management, and Cloud Security. With a robust portfolio of offerings, WidePoint delivers secure, scalable, and innovative solutions to government agencies and commercial enterprises. The company is recognized for its expertise in securing mobile workforces, optimizing telecom expenses, and providing advanced cybersecurity solutions.
Core Business Areas
WidePoint operates across several critical business domains:
- Identity and Access Management (IAM): WidePoint provides asymmetric authentication solutions, including Public Key Infrastructure (PKI) and derived digital credentials like its proprietary MobileAnchor™. These solutions enable secure access to systems, facilities, and applications, meeting stringent federal security standards.
- Mobility Managed Services (MMS): The company offers end-to-end management of mobile devices, ensuring secure and efficient operation for government and enterprise clients.
- Telecom Lifecycle Management: WidePoint's Intelligent Technology Management System (ITMS™) streamlines telecom expense management, providing real-time analytics, reporting, and cost optimization.
- Cloud Security and IT as a Service (ITaaS): WidePoint delivers cloud-based solutions that enhance operational efficiency and data security, including disaster recovery, business continuity, and consulting services.
Market Position and Competitive Edge
WidePoint is a trusted partner for federal agencies, including the Department of Homeland Security (DHS) and the U.S. Navy, as well as commercial organizations in highly regulated industries like healthcare, finance, and transportation. The company’s FedRAMP-authorized ITMS™ platform sets it apart by meeting the highest cybersecurity standards required for federal contracts. Additionally, its MobileAnchor™ digital credential offers unmatched security for mobile devices, making it a preferred choice for identity management solutions.
Revenue Streams and Business Model
WidePoint generates revenue through a combination of managed services, SaaS offerings, and long-term government contracts. Its diversified customer base includes federal agencies, state governments, and private enterprises, ensuring a stable and scalable revenue model. The company’s focus on high-value contracts, such as the $2.7 billion Spiral 4 contract with the U.S. Navy, underscores its strategic importance in the MSP landscape.
Significance in the Industry
As a pioneer in cybersecurity and technology management, WidePoint plays a crucial role in protecting critical infrastructure and sensitive data. Its solutions address the growing need for secure, efficient, and compliant IT services in an increasingly digital and mobile world. By combining technical innovation with operational excellence, WidePoint continues to solidify its reputation as a reliable and authoritative MSP.
WidePoint Corporation (NYSE American: WYY) announced that its subsidiary, WidePoint Mobile Corporation, achieved R2v3 certification for its Columbus, Ohio facility. This certification includes Core and Specialty Process Requirements, such as Downstream Vendor Management and Logical Sanitization, reflecting increased standards for data protection and electronic recycling. CEO Jin Kang emphasized that this certification enhances their Managed Mobility Services and aligns with their Green Initiative Policy, expanding revenue streams and ensuring responsible device recycling.
WidePoint Corporation (NYSE American: WYY) announced a conference call scheduled for August 16, 2021, at 4:30 p.m. ET to discuss its financial results for the second quarter ended June 30, 2021. Financial results will be released beforehand. Participants are encouraged to call 5-10 minutes prior to the start time, and the call will feature a Q&A session. A replay of the call will be available after 7:30 p.m. ET on the same day through August 30, 2021.
WidePoint Corporation (NYSE American: WYY) announced it secured over $36.6 million in contract awards during Q2 2021. CEO Jin Kang highlighted 48 contract actions, including new awards and extensions for the company's Trusted Mobility Management (TM2) solutions. Key contracts include IdM credentials for a major public research university and various defense contractors, as well as MMS for a leading quick-service restaurant and a global automotive manufacturer. The company stresses the importance of data security amid rising cyber threats.
WidePoint Corporation (NYSE American: WYY) is set to join the Russell Microcap® Index effective June 28, 2021, marking a significant milestone for the company. This inclusion follows a strong performance in 2020 and Q1 2021, as well as recent accolades, including the Co-sell Ready status from Microsoft for Soft-ex. Membership in the Russell Microcap® Index will enhance WidePoint's visibility among investors, with approximately $10.6 trillion in assets benchmarked against Russell indexes. The company specializes in Trusted Mobility Management solutions.
WidePoint Corporation (NYSE American:WYY) announced that its subsidiary, Soft-ex Communications, achieved Co-sell Ready status from Microsoft. This certification facilitates collaboration on global sales opportunities, enhancing business growth. Soft-ex's solutions are now included in the Microsoft commercial marketplace, providing advanced UC Voice Analytics and Billing solutions to optimize customer experience and costs. Both CEOs expressed optimism about leveraging this partnership to enhance service delivery and capitalize on the growing demand for unified communications solutions.
WidePoint Corporation (NYSE American: WYY) reported a strong first quarter for 2021, achieving revenues of $20.7 million and a gross margin of 22.8%. The company saw an increase in Managed Services revenue to $9.3 million and a net income of $585,000 or $0.06 per diluted share. Significant contracts, including an $86 million DHS contract, bolster their market position. WidePoint expects revenues of $103 million for fiscal 2021, reflecting a 16% growth rate, excluding the effects of the 2020 Census project.
WidePoint Corporation (NYSE American: WYY) will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, at 8:45 a.m. Eastern time. The management will deliver a live webcast of the presentation and participate in one-on-one meetings with investors and analysts during the event. Interested parties can reach out to Gateway Investor Relations for more information or to schedule meetings. WidePoint specializes in trusted mobility management solutions, including telecom management and identity management.
WidePoint Corporation (NYSE American: WYY) will hold a conference call on May 14, 2021, at 4:30 p.m. ET to discuss its Q1 financial results ending March 31, 2021. A press release with the financial results will be issued prior to the call. Interested parties can dial (888) 506-0062 for U.S. or (973) 528-0011 for international access, with the passcode 862059. The call will also be accessible via the company's investor relations website and available for replay through May 28, 2021.
WidePoint Corporation (WYY) has partnered with Intercede to provide managed identity management credentialing services for a Fortune Global 500 company. This contract includes the deployment of Intercede's MyID credential management software. WidePoint will issue Personal Identity Verification (PIV-I) credentials, enabling access to a major federal agency's information. This is the third significant identity management contract announced by WidePoint in 2021, highlighting increasing demand for its solutions.
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