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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 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.
WidePoint Corporation (NYSE American: WYY) has secured a significant contract with a hospital associated with the U.S. Department of Health and Human Services (HHS). The contract includes issuing External Certificate Authority (ECA) credentials, which enable secure access to HHS systems for hospital employees and partners. The agreement spans a one-year initial term with a potential three-year extension. WidePoint is one of only two U.S. ECA providers authorized by the Department of Defense, positioning it advantageously in the market.
WidePoint Corporation (NYSE American: WYY) has been invited to present at the 23rd Annual Needham Growth Conference from January 11-15, 2021. The management presentation is scheduled for January 11 at 2:45 p.m. Eastern time. A live webcast will be available for replay. Additionally, management will conduct one-on-one virtual meetings with investors and analysts during the conference. For more details or to schedule a meeting, interested parties can contact Gateway Investor Relations.
WidePoint Corporation (NYSE American: WYY) announced a contract between its subsidiary Soft-ex Communications and Three Ireland (Hutchison) Limited to implement the Three Analyst digital billing platform. This platform aims to enhance customer experience by providing detailed insights into telecom costs for Three's enterprise customers. The partnership emphasizes innovation and seamless customer engagement, contributing positively to both companies. CEO Jin Kang highlighted the demand for their solutions amidst increasing digitalization efforts, strengthening WidePoint's position in the market.
WidePoint Corporation (NYSE American: WYY) announced that its subsidiary Soft-ex Communications has secured a multi-year contract with Zetacom. This partnership will enable Zetacom to provide clients with Unified Comms Analytics, offering integrated reporting and centralized cost visibility. The deal comes amid increased demand for remote communication solutions, especially Microsoft TEAMS and Mitel MiCollab. The CEOs of both companies expressed optimism about the collaboration, highlighting its potential benefits in optimizing communication infrastructure and enhancing customer experiences.
WidePoint Corporation (NYSE American: WYY) announced that its subsidiary, Soft-ex Communications, has secured a three-year contract with CANCOM C&C to provide a Unified Billing and Analytics solution. This contract aims to enhance digital billing communications for CANCOM's clients, allowing them to view all costs and metrics on a single platform. CANCOM C&C selected Soft-ex for its expertise in billing solutions, driven by increased demand for effective communication during the digitalization accelerated by COVID-19.
WidePoint Corporation (WYY) announced the award of a $500 million contract by the U.S. Department of Homeland Security (DHS) for Cellular Wireless Managed Services (CWMS) 2.0. Effective November 25, 2020, this Indefinite Delivery, Indefinite Quantity (IDIQ) contract comprises a one-year base period with four option periods, concluding on November 24, 2025. The CEO, Jin Kang, expressed gratitude and confidence in WidePoint's role in enhancing mobile services and security for DHS and its components. The company aims to continue leveraging partnerships to support DHS's vital missions.
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