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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) will host a conference call on November 16, 2020, at 4:30 p.m. Eastern to discuss its Q3 financial results for the period ending September 30, 2020. Results will be released prior to the call. Investors can access the call by dialing the U.S. number (844) 407-9500 or the international number (862) 298-0850. The call will include a Q&A session and will be available for replay until November 30, 2020. WidePoint specializes in Trusted Mobility Management solutions, including telecom management and identity management.
WidePoint Corporation (NYSE American: WYY) has significantly increased its fiscal 2020 EBITDA guidance to between $4.7 million and $4.9 million, a remarkable 50% increase from previous estimates and 69% year-over-year growth. Revenue expectations remain at $185 million to $195 million. The company attributes this positive outlook to additions of high-margin business and improved operational efficiency, indicating fiscal 2020 will be a record year, according to CEO Jin Kang.
WidePoint Corporation (NYSE American: WYY) has announced a 1-for-10 reverse stock split effective November 6, 2020, after receiving shareholder approval on August 24, 2020. The board believes this move will enhance the stock's attractiveness to investors. Trading under the new split will commence on November 9, 2020, with no fractional shares issued. The company aims to capitalize on its current financial success and operational strength to position itself for long-term growth.
WidePoint Corporation (NYSE American: WYY) has been invited to present at the 9th Annual Gateway Conference on September 9-10, 2020. The company specializes in Trusted Mobility Management (TM2) solutions. WidePoint's presentation is scheduled for September 9 at 10:00 a.m. Pacific time, with one-on-one meetings available throughout the event. The conference is designed to connect compelling companies with top institutional investors and analysts. Attendance includes direct access to senior management via presentations and Q&A sessions. For more information, visit gatewayir.com/conference.
WidePoint Corporation (WYY) reported robust second-quarter results for 2020, with revenues soaring 148% year-over-year to $54.8 million. Managed Services revenue rose 22% to $9.8 million, while gross profit grew 25% to $5.1 million. The company secured $42 million in federal contracts and $1.5 million in commercial contracts, highlighting its growth. Net income was $489,000 with an EBITDA increase of 230% to $1.0 million. For the first half of the year, revenues jumped 115% to $94.4 million, indicating a strong growth trajectory.
WidePoint Corporation (NYSE American: WYY) has secured a new contract with the Virginia Alcoholic Beverage Control Authority to provide Telecom Expense Management (TEM) services. The contract spans one year with four optional renewals, totaling approximately $1.2 million. Virginia ABC, employing nearly 4,000 individuals, plays a significant role in public safety and revenue generation for the Commonwealth of Virginia. WidePoint's CEO hailed the contract as a sign of Virginia ABC's commitment to efficiency during the COVID-19 pandemic, emphasizing the importance of telecom management solutions during challenging times.
WidePoint Corporation (NYSE American: WYY) announced over $42 million in federal contract awards and extensions in Q2 2020. The company recorded 34 contractual actions including new contracts and renewals with federal clients, notably the U.S. Department of Homeland Security and the CDC. CEO Jin Kang highlighted the increasing adoption of mobile workforce practices, which drives growth and cost-saving benefits for government agencies. WidePoint aims to maximize resources across the mobile landscape amid changing federal budgets.
WidePoint Corporation (NYSE American: WYY) is set to participate in the ATARC 2020 Virtual Technology Showcase on June 11, 2020, focusing on how emerging technology aids federal emergency responses amid the COVID-19 pandemic. The event will feature discussions on mobile security, AI, cloud infrastructure, and more. WidePoint's solutions in Telecom Lifecycle Management and Identity Management will be highlighted, showcasing its contributions to critical government agencies like the Department of Homeland Security and the CDC, enhancing IT response during the crisis.
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