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WidePoint Corporation (NYSE American: WYY) is a leading provider of advanced technology solutions specializing in wireless mobility management and cybersecurity. With a focus on identity access management (IAM), multi-factor authentication, and critical response management, WidePoint delivers cutting-edge information technology services to both government and commercial markets. The company operates through four distinct business units, each offering specialized services such as emergency response management, asymmetric authentication, telecom expense management, and forensic informatics systems engineering.
WidePoint's comprehensive suite of services includes Technology Management as a Service (TMaaS), Telecom Lifecycle Management, Digital Billing Communications, and Mobile and Identity Management. These solutions are designed to enhance the security and efficiency of the mobile workforce across various sectors. The company generates the majority of its revenue from the United States, with a growing presence in Europe.
Recent achievements highlight WidePoint's strong market position. In early 2024, the company announced a new three-year contract worth over $1.4 million with a major Florida attraction and research center, showcasing its expertise in managed IT services and cybersecurity. This followed a successful 2023, where WidePoint reported revenue of $103-$108 million and a substantial federal contract backlog totaling $359 million.
WidePoint's strategic priorities for 2024 include maintaining double-digit revenue growth, enhancing its ITMS platform, and leveraging its strong sales pipeline for continued contract renewals and new business opportunities. The company also focuses on expanding its footprint in sectors such as K-12 education and healthcare, further solidifying its role as a trusted partner for secure and efficient technology solutions.
For more information, visit widepoint.com.
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.
WidePoint Corporation (NYSE American: WYY) has secured over $86 million in task orders from the U.S. Department of Homeland Security (DHS) as part of its Cellular Wireless Managed Services (CWMS) 2.0 contract. This contract, established in November 2020, has a total ceiling of $500 million and spans five years. The awarded task orders include significant contracts for various DHS agencies, such as an $81.8 million order for Immigration and Customs Enforcement. The rapid awarding of these tasks suggests strong demand for WidePoint's solutions.
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