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) announced a new Cooperative Contract award for Software Solutions from the Texas Department of Information Resources. This contract, valid until November 15, 2022, with two optional one-year renewals, focuses on Mobile and Wireline SaaS solutions. CEO Jin Kang highlighted that this award makes their Managed Mobility Services accessible to 5,000 state and local public entities in Texas and beyond. The company aims to streamline procurement processes for these entities.
WidePoint Corporation (NYSE American:WYY) announced that its Public Key Infrastructure (PKI) Identity Management solutions are now Quantum-resistant. This advancement is crucial as Quantum computing develops, posing challenges to current cryptographic frameworks. WidePoint's PKI solutions align with NIST guidelines, which are adapting to counteract potential Quantum attacks. The company's technology offers robust protection without extensive computational requirements, catering to the growing demand for secure identity management solutions across both government and commercial sectors.
WidePoint Corporation (NYSE American:WYY) announced the purchase of approximately 299,500 shares of its common stock for about $1.23 million as part of its share repurchase program. The company has a remaining $3.77 million available for future stock buybacks. This repurchase will be executed through a prearranged trading plan compliant with Rule 10b5-1, allowing transactions even when it may be restricted due to insider trading laws. CEO Jin Kang expressed optimism about the company’s fundamentals and growth prospects for 2022.
WidePoint Corporation (NYSE American: WYY) will present virtually at the Sidoti December Virtual Micro Cap Conference on December 9, 2021, at 2:30 p.m. Eastern time. The event will showcase WidePoint's expertise in Trusted Mobility Management solutions, including Identity Management and Telecommunications Lifecycle Management.
Investors can view the live webcast and a replay online. For one-on-one meetings with the management team, contact Gateway Investor Relations at WYY@gatewayir.com or call 949-574-3860.
WidePoint Corporation (NYSE American:WYY) announced it has achieved FedRAMP Ready Status for its Intelligent Telecommunications Management System (ITMS™) platform. This achievement indicates successful completion of a Readiness Assessment Report (RAR), marking a significant step towards full FedRAMP authorization. FedRAMP, a U.S. government program, standardizes security assessment for cloud services. WidePoint's readiness demonstrates compliance with stringent controls including cryptographic standards and risk management. The company aims for full authorization by the end of 2022 to expand service offerings to U.S. government agencies.
WidePoint Corporation (WYY) reported its Q3 2021 results, revealing revenues of $22.3 million and net income of $535,000 or $0.06 per diluted share. The company secured new contracts worth over $16.8 million in Identity Management services and reinstated a share repurchase plan of $5.0 million. Despite macro-economic challenges, WidePoint's gross margin improved to 16.5%. For the first nine months of 2021, revenues totaled $62.9 million, down from $152.0 million in the previous year. Updated guidance forecasts revenues between $80 million and $84 million for 2021.
WidePoint Corporation (NYSE American:WYY) will present at the Ladenburg Thalmann Virtual Tech Expo on November 18, 2021, at 1:30 p.m. Eastern time. The company specializes in Trusted Mobility Management (TM2), focusing on Identity Management, Telecommunications Lifecycle Management, and Digital Billing & Analytics. Interested investors can register to view the presentation and request one-on-one meetings through the expo's website. For additional inquiries, they can contact investor relations at WYY@gatewayir.com.
WidePoint Corporation (NYSE American:WYY) will hold a conference call on November 15, 2021, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ending September 30, 2021. Financial results will be released prior to the call. Investors can join via U.S. dial-in number (888) 506-0062 or the international number (973) 528-0011. A live broadcast and replay will be available on the company's investor relations website. The replay will be accessible until November 29, 2021.
WidePoint Corporation (NYSE American:WYY) announced a new contract to deliver Identity and Access Management credentials to a government branch in the District of Columbia. Awarded on September 29, 2021, this contract involves issuing three-year NFI PIV-I credentials, along with necessary hardware and services. WidePoint's Chief Security Officer emphasized the rising demand for secure identity management solutions amid increasing cyber threats, while the CEO noted the company's commitment to expanding its impact in both government and commercial sectors.
WidePoint Corporation (NYSE American:WYY) reported contract awards exceeding $16.8 million in Q3 2021, highlighting significant growth opportunities in its core services: Identity Management and Telecommunications Lifecycle Management.
Key contracts include IdM solutions for the District of Columbia and a major public university, alongside TLM contracts for a global automotive manufacturer and a Fortune 500 insurance provider. U.S. Citizenship and Immigration Services transitioned to the DHS CWMS 2.0 contract, with options extending through 2026, indicating strong demand for WidePoint's services.
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