Widepoint Stock Price, News & Analysis

WidePoint (NYSE American:WYY), a leading enterprise cyber security and mobile technology provider, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9-11, 2024, at the Lotte New York Palace Hotel in New York City.

Key points:

• WidePoint management will present on Wednesday, September 11, 2024, at 1:30 PM Eastern time
• The company will hold in-person one-on-one meetings throughout the conference
• Interested parties can schedule meetings by emailing WYY@gateway-grp.com

This presentation offers an opportunity for investors to gain insights into WidePoint's innovative solutions and growth strategies in the rapidly evolving cyber security and mobile technology sectors.

WidePoint (NYSE American:WYY) reported its Q2 and H1 2024 financial results, showing significant growth. Q2 revenues increased 35% year-over-year to $36 million, while Adjusted EBITDA improved 479% to $811,000. The company's net loss decreased to $500,000 or $(0.05) per diluted share. For H1 2024, revenues grew 35% to $70.2 million, with Adjusted EBITDA up 764% to $1.4 million.

Operational highlights include a $254 million contract modification from the U.S. Department of Homeland Security and selection for the U.S. Navy's 10-year, $2.7 billion Spiral 4 contract. WidePoint also deployed its new proprietary MobileAnchor Digital Credential into a Federal Agency. The company maintained positive free cash flow and ended Q2 with $4.0 million in cash and no bank debt.

WidePoint (NYSE American: WYY), a leading enterprise cyber security and mobile technology provider, is set to present at the 2024 Annual Gateway Conference in San Francisco. The presentation is scheduled for September 4 at 9:00 a.m. Pacific Time at the Four Seasons Hotel. Investors can access the live webcast and replay of the presentation online.

In addition to the main presentation, WidePoint's management team will be available for one-on-one meetings throughout the two-day conference, which runs from September 4-5. This event provides an excellent opportunity for investors to gain insights into WidePoint's innovative solutions and future strategies in the rapidly evolving cyber security and mobile technology sectors.

WidePoint (NYSE American: WYY), an enterprise cyber security and mobile technology provider, has scheduled its Second Quarter 2024 Conference Call for Wednesday, August 14, 2024, at 4:30 p.m. ET. The company will release its financial results for the quarter ended June 30, 2024, prior to the call. Management will host the conference call, which will include a question and answer session.

Investors can join the call using the U.S. dial-in number 888-506-0062 or the international number 973-528-0011, with Access Code 403107. The call will be broadcast live and available for replay via the company's website. A replay will be accessible until August 28, 2024, using toll-free number 877-481-4010 or international number 919-882-2331, with Replay ID 50911.

WidePoint (NYSE American:WYY) has successfully deployed MobileAnchor™, a proprietary derived digital credential for mobile devices, into a Federal Agency. This new product offers enhanced security by generating credentials directly on the device, leveraging hardware-based secure elements and biometric authentication. Key benefits include:

1. Enhanced Security: Direct integration and reduced attack surface.
2. User Convenience: Seamless access and integrated multi-factor authentication.
3. Simplified Deployment: Less overhead for management.
4. Flexibility and Compatibility: Native support by modern operating systems.

WidePoint's executives highlight MobileAnchor™ as a significant advancement in Identity & Access Management solutions, providing the highest level of security for mobile digital credentials.

WidePoint announced the acquisition of approximately $2.84 million in new and renewed contracts. Of this, $2.4 million were commercial SaaS wins and $438,000 were government contracts. New contracts accounted for $1.8 million, with $1.036 million in renewals. The contracts cover all WidePoint solution lines, including Managed Mobility Services, Identity & Access Management, IT as a Service, and Interactive Billing & Analytics. CEO Jin Kang emphasized the positive business development momentum and the strategic importance of these contracts. CRO Jason Holloway highlighted new pilot projects and strategic partnerships with system integrators, as well as interest from federal agencies in WidePoint's next-generation Derived Credential offering.

WidePoint (NYSE American: WYY) announced a $254 million ceiling increase in its U.S. Department of Homeland Security (DHS) Cellular Wireless Managed Services (CWMS) 2.0 IDIQ contract, raising the total from $500 million to $754 million. The contract includes managed services, WidePoint's Intelligent Technology Management System (ITMS™), cellular equipment, data services, and more. The $254 million increase underscores WidePoint's significant savings for DHS, totaling over $250 million to date. WidePoint is establishing a Program Management Office to manage expanding activities and has appointed Michelle Richards to lead the CWMS 2.0 program.

WidePoint (NYSE American:WYY) reported its Q1 2024 financial results, showcasing significant growth and operational achievements. The company recorded revenues of $34.2 million, a 35% increase YoY. Gross margins stood at 14%, and 31% when excluding carrier services. Despite a net loss of $0.7 million, or $(0.07) per share, WidePoint achieved positive adjusted EBITDA of $573,000 and free cash flow of $566,000. Notable contracts include a spot with the U.S. Navy’s $2.7 billion Spiral 4 contract and a $1.4 million deal with a major Florida attraction. As of March 31, 2024, WidePoint held $5.3 million in cash with no bank debt. CEO Jin Kang emphasized the strong performance and future growth potential, highlighting high demand and a healthy pipeline of new deals.

WidePoint (NYSE American:WYY) has been selected by the U.S. Navy to be part of the 10-year, $2.7 billion Spiral 4 contract. This contract includes providing wireless and telecommunications services to military personnel and federal civilian employees in the U.S. and its territories. WidePoint, along with six other companies, has secured a position on this lucrative contract, which consists of a firm-fixed-price, indefinite-delivery, indefinite-quantity (IDIQ) agreement. The contract has a one-year base period worth around $267 million, with nine additional one-year option periods until May 2034.