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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) 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.
WidePoint Corporation (NYSE American: WYY) reported a successful 2020, marking its most profitable year. Revenues surged by 77% to $180.3 million, driven by a 29% increase in Managed Services revenue. The company achieved $10.3 million in net income and saw a 59% rise in Adjusted EBITDA to $5.7 million. Secured key contracts, including a $500 million deal with the U.S. Department of Homeland Security, reinforcing growth prospects. With strong metrics and a cash-rich balance sheet, WidePoint aims for continued growth in 2021.
WidePoint Corporation (NYSE American: WYY) announced a conference call scheduled for March 23, 2021, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2020. The call will include a question-and-answer session. Investors can join via U.S. dial-in or international numbers provided. A live broadcast and replay will be available on the company’s investor relations website. This call aims to provide insights into the company’s performance, enhancing transparency for shareholders and potential investors.
WidePoint Corporation (NYSE American: WYY) reported over $10.4 million in contract awards for Q4 2020, including the U.S. Department of Homeland Security Cellular Wireless Managed Services 2.0 Contract. The company executed more than 30 contractual actions, encompassing new awards, renewals, and extensions across diverse sectors such as government, education, and leading corporations. CEO Jin Kang noted the growing adoption of their Managed Mobility Services as a preferred solution for mobile workforce management, highlighting an optimistic outlook for continued expansion in 2021.
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