Welcome to our dedicated page for WidePoint Corporation news (Ticker: WYY), a resource for investors and traders seeking the latest updates and insights on WidePoint Corporation stock.
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) has renewed its revolving credit facility, increasing its borrowing capacity from $5 million to $7 million, a 40% rise. This expansion is aimed at supporting anticipated growth while maintaining specific financial covenants. CEO Jin Kang stated that although no funds have been borrowed yet, the increased capacity positions the company favorably for future investments. WidePoint specializes in technology solutions such as Identity and Access Management, Telecommunications, and Managed Mobility Services.
WidePoint Corporation (NYSE American: WYY) will attend the LD Micro Invitational XII from June 7-9, 2022, with a presentation scheduled for June 8 at 12:00 p.m. ET. The company specializes in Identity and Access Management, Telecommunications, and Managed Mobility Services, among other technology solutions. Interested parties can schedule one-on-one meetings with management by contacting Gateway Group. WidePoint is recognized for pioneering solutions to secure the mobile workforce and enterprise landscape. For more details, visit widepoint.com.
WidePoint Corporation (WYY) reported a net loss of $393,000 for Q1 2022, with revenue increasing to $22.4 million, a 8.2% rise from $20.7 million in Q1 2021. Managed Services revenue rose by 2% to $9.5 million. The gross margin declined to 17% from 22.8%. The company is investing in growth, pausing its share repurchase program to preserve cash for potential acquisitions. CEO Jin Kang expressed optimism about future performance, expecting revenue between $92 million and $98 million for the year and adjusted EBITDA of $2.5 million to $3.5 million.
WidePoint Corporation (NYSE American: WYY) announced its participation in the Ingram Micro Cloud Summit 22 from May 17-19, 2022, in Miami. Its subsidiaries, Soft-ex and IT Authorities, are attending to showcase their innovations in Voice Analytics and Digital Billing. Soft-ex has been recognized as a value-added partner by Ingram Micro for Microsoft Teams solutions. Both subsidiaries aim to enhance digital experiences for clients through strategic collaborations with Ingram Micro and Microsoft, with WidePoint’s CEO emphasizing the potential for new business opportunities.
WidePoint Corporation (NYSE American: WYY) has announced a conference call scheduled for May 16, 2022, at 4:30 p.m. ET to discuss its Q1 financial results for the period ending March 31, 2022. The company specializes in Identity and Access Management and Managed Mobility Services. Prior to the call, a press release with financial results will be issued. Interested parties can join the call using the U.S. dial-in number 888-506-0062 or the international number 973-528-0011.
WidePoint Corporation (NYSE American: WYY) will present at the Planet MicroCap Showcase on May 4, 2022, at 9:30 AM PT in Las Vegas, NV. The company specializes in Identity and Access Management (IAM), Telecommunications, and Managed Mobility Services (MMS). Management's presentation will be available for webcast replay. Attendees can register for one-on-one meetings through the event's registration link. For further details, visit widepoint.com.
WidePoint Corporation (WYY) reported its fourth quarter and full year results for 2021, highlighting a revenue of $24.5 million for Q4 and $87.3 million for the full year. Managed Services revenue grew by 25% to $11.1 million in Q4, excluding the 2020 Census Project. However, a net loss of $575,000 was reported for Q4, translating to a loss of $0.06 per diluted share. The company anticipates a 5-10% growth in managed services revenues for 2022. A significant share repurchase program has been temporarily suspended to allow for business investment.
WidePoint Corporation (NYSE American:WYY) will present at the Maxim 2022 Virtual Growth Conference happening from March 28-30, 2022. The company specializes in Identity and Access Management (IAM), Telecommunications, and Managed Mobility Services (MMS). The presentation will be accessible via webcast, with replays available. Attendees of the conference can expect insights from a diverse range of sectors, including tech and healthcare. For more information or to arrange meetings, contact WYY@gatewayir.com.
WidePoint Corporation (NYSE American:WYY) has appointed Bob George as its new Chief Financial Officer, effective April 1, 2022. He replaces Kellie Kim, who announced her retirement in November 2021. George brings over 30 years of diverse experience in strategic planning and mergers & acquisitions, previously serving as CFO for Exovera and holding executive roles in notable companies. CEO Jin Kang expressed confidence in George's leadership, emphasizing his expertise will enhance WidePoint's growth strategy and performance in cybersecurity and IT services.
WidePoint Corporation (NYSE American:WYY) announced a conference call to discuss its financial results for the fourth quarter and full year ending December 31, 2021. The call is scheduled for March 28, 2022, at 4:30 p.m. Eastern time. Financial results will be released beforehand. Participants can join via U.S. dial-in or international numbers provided. A replay will be available after the call, extending until April 11, 2022. WidePoint specializes in Trusted Mobility Management solutions, including Identity Management and Managed Mobility Services.
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