Welcome to our dedicated page for Widepoint news (Ticker: WYY), a resource for investors and traders seeking the latest updates and insights on Widepoint 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) 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.
WidePoint Corporation (NYSE American:WYY) announced an expansion of its technology management service offerings, including innovative Identity and Access Management (IAM) solutions. In 2021, the company focused on product development to enhance growth opportunities. Key achievements include quantum-resistant PKI solutions, SOC II certification for its subsidiary IT Authorities, and recognitions in the Gartner Magic Quadrant. The company is also enhancing its Digital Billing platform and expanding partnerships to meet complex cybersecurity challenges.
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.
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