WidePoint

WidePoint Corp. engages in the provision of trusted mobility management (TM2) solutions. It operates through the Carrier Services and Managed Services segments. The Carrier Services segment includes bills for costs incurred to deliver phone, data and satellite and related mobile services for a connected device or end point. The Managed Services segment delivers managed services under a full-service, quasi full-service or self-service solution. The company was founded on May 30, 1997 and is headquartered in Fairfax, VA.

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WidePoint posts strong Q1 results, secures $2.7B Navy contract

WidePoint's Q1 performance reflects financial stability and growth momentum. With a focus on high-margin businesses and technology solutions, the company is well-positioned to leverage its contract wins and pipeline for future success. Strategic investments in sales and marketing underscore management's confidence in sustained growth.

WidePoint reports stellar Q2 results, secures major government contracts

WidePoint's Q2 2024 earnings call reflects strong financial performance, notable contract wins, and strategic initiatives to drive growth and enhance market competitiveness. While challenges in execution and project management may arise, the company is well-positioned to capitalize on opportunities in the federal sector and technology market.

WidePoint reports stellar Q3 results, poised for growth opportunities

WidePoint's Q3 2024 earnings call highlights robust financial growth, strong product demand, and strategic advancements positioning the company for future success.
While facing challenges in maintaining margins and managing costs, WidePoint's partnerships and market opportunities offer avenues for sustained growth and profitability.
Investors should take note of WidePoint's solid performance, expanding contract backlog, and strategic initiatives that bode well for the company's future growth trajectory.

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WidePoint Corp. engages in the provision of Technology Management as a Service (TMaaS). The firm is involved in providing managed services for government and commercial clients that include identity management, secure mobility managed services, telecom lifecycle management, digital billing and analytics, and Information Technology as a service (ITaaS). The company was founded on May 30, 1997 and is headquartered in Fairfax, VA.

FAIRFAX, VA / ACCESSWIRE / March 27, 2023 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), reported results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 and Recent Operational Highlights: Executed a new contract to provide Mobile and Telecom Managed Services to a Standard & Poor's 500 Food & Beverage company; WidePoint was selected to replace one of its competitors Executed two new contracts with leading telecommunications companies under its strategic agreement with CSG International Announced that its subsidiary Soft-ex Communications has been formally launched in the Ingram Micro Cloud Marketplace for its innovative Voice Analytics solution which helps drive Microsoft Teams usage and adoption Entered into a strategic agreement with a leading cybersecurity and identity management company to transition all of their federal government customers to WidePoint's IdM delivery system Entered into a reseller agreement with BK Technologies Corporation for the resale of BK's InteropONE PTToC (Push-To-Talk Over Cellular) service to the U.S. Department of Homeland Security and the U.S. Department of State Achieved Intelligent Technology Management System (ITMS) has achieved "FedRAMP in Process" status WidePoint's Public Key Infrastructure (PKI) Identity & Access Management solution is in compliance with the new phishing-resistant MFA Guidance issued by CISA, the Cybersecurity & Infrastructure Security Agency of the U.S. Department of Homeland Security 15 total contractual actions resulting in over $5.7 million in funding for the next 12 months: $360,000 in new Commercial contracts, and $5.3 million in Government contracts, including $141,000 in new contracts and $5.2 million in renewals Fourth Quarter 2022 Financial Highlights: Revenues were $23.3 million Managed Services and billable fees revenue increased to $8.4 million Gross margin was 15% Net loss totaled $8.9 million, or a loss of $(1.02) per diluted share Adjusted EBITDA, a non-GAAP financial measure, was $561,000 As of December 31, 2022, cash and cash equivalents equaled $7.5 million Full Year 2022 Financial Highlights: Revenues grew 8% to $94.1 million Managed Services and billable fees revenue increased to $28.1 million Gross margin was 15% Net loss totaled $23.6 million, or a loss of $(2.70) per diluted share Adjusted EBITDA, a non-GAAP financial measure, was $1.1 million Management Commentary "We finished off 2022 on a high note, as we met both guidance targets with full year revenue of $94.1 million and Adjusted EBITDA of $1.1 million thanks to the continued operational excellence of our team in conjunction with our growing sales pipeline," said WidePoint CEO, Jin Kang.

WidePoint Reports Fourth Quarter and Full Year 2022 Financial Results

FAIRFAX, VA / ACCESSWIRE / March 13, 2023 / WidePoint Corporation (NYSE American: WYY ), the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), will hold a conference call on Monday, March 27, 2023 at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2022.

WidePoint Sets Fourth Quarter and Full Year 2022 Conference Call for Monday, March 27, 2023 at 4:30 p.m. ET

BK Technologies Corp

FAIRFAX, VA / ACCESSWIRE / March 8, 2023 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), today announced that it has entered into a reseller agreement with BK Technologies Corporation (NYSE American: BKTI), for the resale of BK's InteropONE PTToC (Push-To-Talk Over Cellular) service to the U.S. Department of Homeland Security and the U.S. Department of State. InteropONE is the only PTToC (Push-To-Talk Over Cellular) service that enables operational interoperability to first responders through on-demand creation of user groups without requiring network pre-provisioning or gateways.

WidePoint Corporation Signs Reseller Agreement with BK Technologies Corporation for InteropONE PTToC Service

WEST MELBOURNE, FL / ACCESSWIRE / March 8, 2023 / BK Technologies Corporation (NYSE American:BKTI) (the "Company" or "BK Technologies") today announced that it has entered into a reseller agreement with WidePoint Corporation, for the resale of BK's InteropONE PTToC service to the U.S. Department of Homeland Security and the U.S. Department of State. InteropONE is the only PTToC (Push-To-Talk Over Cellular) service that enables operational interoperability to first responders through on-demand creation of user groups without requiring network pre-provisioning or gateways.

BK Technologies Signs Reseller Agreement with WidePoint Corporation for InteropONE PTToC Service

FAIRFAX, VA / ACCESSWIRE / March 6, 2023 / WidePoint Corporation (NYSE American: WYY ), the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), has executed a new contract to provide Mobile and Telecom Managed Services to a Standard & Poor's 500 ("S&P 500") and FTSE4Good Food & Beverage company. WidePoint will provide a Telecom and MMS solution that encompasses: Managing communications with vendors through their respective tooling channels (tickets, phone and/or chat) Invoice processing (Wired and Wireless) Reviewing and verifying invoice payments Identifying and resolving billing disputes Identifying cost savings Identifying zero usage users Analyzing CDR data with monthly/quarterly/ad-hoc reports Quarterly / Yearly Audits Vendor Management Jin Kang, CEO of WidePoint, stated: "WidePoint is pleased that our Mobile Telecom Managed Services solution was selected to replace one of our competitors by one of the biggest national players in the food & beverage sector.

WidePoint Signs Mobile and Telecom Managed Services Contract with S&P 500 Food & Beverage Company

FAIRFAX, VA / ACCESSWIRE / December 7, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced today that its subsidiary Soft-ex Communications has been formally launched in the Ingram Micro Cloud Marketplace for its innovative Voice Analytics solution which helps drive Microsoft Teams usage and adoption. The Ingram Micro Cloud Marketplace is the world's largest one-stop shop for cloud-based solutions, enabling businesses to easily purchase, provision, manage, and invoice leading cloud applications via a central ecommerce platform.

WidePoint's Subsidiary Soft-ex Launched as Ingram Micro Cloud Marketplace Global Partner for Innovative UC Voice Analytics Solution

FAIRFAX, VA / ACCESSWIRE / November 28, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), will be presenting and holding one-on-one meetings at the Ladenburg Virtual Tech Expo 22on Wednesday, December 7, 2022. The one-day Expo will feature virtual presentations from the management of approximately 50 Technology and Media companies covering ad-tech, cloud, communications, connectivity, cybersecurity, defense, digital mining, e-commerce, software and services, fintech, media, mobility, payments and semiconductors.

WidePoint to Present at the Ladenburg Thalmann Virtual Tech Expo 22 on Wednesday, December 7, 2022

FAIRFAX, VA / ACCESSWIRE / November 21, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced today that the company's Intelligent Technology Management System (ITMS™) has achieved "FedRAMP in Process" status. The FedRAMP Program Management Officer updated the status for WidePoint's proprietary Intelligent Technology Management System (ITMS™) from "FedRAMP Ready" to "FedRAMP In Process" on the FedRAMP Marketplace with the U.S. Department of Justice, Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) as the sponsoring agency.

WidePoint Intelligent Technology Management System (ITMS) Achieves "FedRAMP in Process" Status

WidePoint Corporation (NYSE:WYY ) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Jin Kang - Chief Executive Officer & President Jason Holloway - Chief Revenue Officer Robert George - Chief Financial Officer Conference Call Participants Operator Good afternoon. Welcome to WidePoint's Third Quarter 2022 Earnings Conference Call.

WidePoint Corporation (WYY) Q3 2022 Earnings Call Transcript

FAIRFAX, VA / ACCESSWIRE / November 14, 2022 / WidePoint Corporation (NYSE American: WYY ), the Trusted Mobility Solutions company, reported results for the third quarter ended September 30, 2022. Third Quarter 2022 and Recent Operational Highlights: WidePoint's Public Key Infrastructure (PKI) Identity & Access Management solution is in compliance with the new phishing-resistant MFA Guidance issued by CISA, the Cybersecurity & Infrastructure Security Agency of the U.S. Department of Homeland Security Piloted IAM solutions within IT groups at several K-12 schools Awarded two new professional services contracts for Turnkey IT Infrastructure and Modernization by a leading Sports Marketing, Media & Technology company Launched the Intelligent Technology Management Solution (ITMS™) platform to provide next generation secure asset management IT Authorities awarded a new Managed Service Provider contract from a leading Sports Marketing & Media company valued at more than $616,700 annually IT Authorities awarded five new commercial contracts for a total of more than $360,000 WidePoint awarded a new Trusted Mobility Services (MMS) contract by a leading U.S. beverage bottler $2.46 million in Commercial contracts including $544,000 in new contracts and $1.92 million in renewals $4.45 million in Government contracts including $1.95 million in new contracts and $1.82 million in renewals Under the U.S. Department of Homeland Security Cellular Wireless Managed Services (CWMS) 2.0 IDIQ contract, the Cybersecurity and Infrastructure Security Agency (CISA) issued a new Task Order with expanded scope of services that extends until March 2026 Third Quarter 2022 Financial Highlights: Revenues grew 14% to $25.3 million Managed Services revenue increased to $7.6 million Gross margin was 15% Net loss totaled $541,000, or a loss of $(0.06) per diluted share Adjusted EBITDA, a non-GAAP financial measure, was $152,000 As of September 30, 2022, cash and cash equivalents equaled $5.1 million Nine Months 2022 Financial Highlights: Revenues grew 13% to $70.8 million Managed Services revenue increased to $21.5 million Gross margin was 16% Net loss totaled $14.7 million, or a loss of $(1.68) per diluted share Adjusted EBITDA, a non-GAAP financial measure, was $503,000 Management Commentary "WidePoint had another consecutive quarter of strong results, as we remain steadfast on the path of our growth trajectory," said WidePoint CEO, Jin Kang.

WidePoint Reports Third Quarter 2022 Financial Results

FAIRFAX, VA / ACCESSWIRE / November 10, 2022 / WidePoint Corporation (NYSE American:WYY) , the Trusted Mobility Solutions company, announced today that the company's Public Key Infrastructure (PKI) Identity & Access Management solution delivers on new guidance issued by CISA, the Cybersecurity & Infrastructure Security Agency of the U.S. Department of Homeland Security. CISA released two fact sheets to highlight threats against accounts and systems using certain forms of Multi-Factor Authentication (MFA).

WidePoint PKI Technology Delivers on CISA Phishing-Resistant Guidance

FAIRFAX, VA / ACCESSWIRE / October 25, 2022 / WidePoint Corporation (NYSE American:WYY) , the Trusted Mobility Solutions company, announced today that it was awarded more than $6.9 million in Managed Mobility Services (MMS) contracts during the third quarter of 2022. Jin Kang, WidePoint's CEO, stated: "WidePoint saw 44 contractual actions for our MMS solutions in the third quarter of 2023, including new awards, renewals, contract extensions and exercised option periods.

WidePoint Secures More than $6.9 Million in MMS Contracts During the Third Quarter of 2022

FAIRFAX, VA / ACCESSWIRE / September 13, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded two new professional services contracts for Turnkey IT Infrastructure and Modernization by a leading Sports Marketing, Media & Technology company. These two new contracts, valued at more than $140,000, are associated with the media company's nationwide expansion.

WidePoint's Subsidiary IT Authorities Awarded New IT Professional Services Provider Contracts

FAIRFAX, VA / ACCESSWIRE / September 6, 2022 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), will be presenting and holding one-on-one meetings at the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022 at the Lotte New York Palace Hotel in New York City.

WidePoint to Present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022

FAIRFAX, VA / ACCESSWIRE / August 31, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced the launch of the new ITMS™, Intelligent Technology Management Solution. Todd Dzyak, WidePoint's Chief Operating Officer, led the ITMS™ development team.

WidePoint Launches Secure Technology Asset Management Solution

FAIRFAX, VA / ACCESSWIRE / August 22, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider contract from a leading Sports Marketing & Media company valued at more than $616,700 annually. Jason Caras, CEO of IT Authorities, stated: "IT Authorities is honored to support this innovative company.

WidePoint's Subsidiary IT Authorities Awarded New Managed Service Provider Contract

FAIRFAX, VA / ACCESSWIRE / August 17, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded five new commercial contracts for a total of more than $360,000. Jason Caras, CEO of IT Authorities, stated: "From healthcare to financial to higher education, these diverse new contract wins illustrate that IT Authorities is being recognized across industries for delivering valuable IT Modernization and Managed Service Provider solutions.

WidePoint's Subsidiary IT Authorities Awarded New Managed Service Provider and IT Modernization Contracts

WidePoint Corporation (NYSE:WYY ) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Jin Kang - President and CEO Robert George - CFO Jason Holloway - EVP and Chief Sales & Marketing Officer Conference Call Participants Barry Sine - Spartan Capital Securities Operator Good afternoon. Welcome to WidePoint's Second Quarter 2022 Earnings Conference Call.

WidePoint Corporation (WYY) CEO Jin Kang on Q2 2022 Results - Earnings Call Transcript

FAIRFAX, VA / ACCESSWIRE / August 15, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), reported results for the second quarter ended June 30, 2022. Second Quarter 2022 and Recent Operational Highlights: Revenue double digit growth compared to same periods last year IT Authorities awarded new MSP contract by a leading U.S. beverage bottler for three years with a total contract value of $2.6 million Soft-ex Communication launched its Three Analyst platform with Three UK, a connectivity company that covers 99% of the UK mobile users with its combined 3G and 4G networks Executed more than $53.2 million in contract actions during the second quarter of 2022 Awarded a $73.4 million task order award from the U.S. Coast Guard under the U.S. Department of Homeland Security (DHS) Cellular Wireless Management Services 2.0 BPA Increased working capital line of credit to $7.0 million Second Quarter 2022 Financial Highlights: Revenues grew 16% to $23.1 million Managed Services revenue increased to $6.7 million Gross margin was 14% Net loss totaled $(13.8) million, or a loss of $(1.58) per diluted share which reflects a $16.3 million goodwill impairment charge recorded during the second quarter Adjusted EBITDA, a non-GAAP financial measure, was $6,000 Six Month 2022 Financial Highlights: Revenues grew 12% to $45.5 million Managed Services revenue decreased by $0.9 million to $14.0 million Gross margin was 16% Adjusted EBITDA, a non-GAAP financial measure, was $350,000 Net loss totaled $(14.2) million, or a loss of $(1.62) per diluted share which reflects a $16.3 million goodwill impairment charge recorded during the second quarter As of June 2022, cash and cash equivalents equaled $7.2 million Management Commentary "It has been encouraging times here at WidePoint, as we see macroeconomic headwinds subside and are recognizing customer opportunities that have been pushed to the right from the past several quarters," said WidePoint CEO, Jin Kang.

WidePoint Reports Second Quarter 2022 Financial Results

FAIRFAX, VA / ACCESSWIRE / August 11, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that it has been awarded a new Trusted Managed Mobility Services contract by a leading U.S. beverage bottler. Under the terms of this 3 year contract, WidePoint will deliver a full suite of Managed Mobility Services (MMS) for the Beverage Bottler.

WidePoint Awarded MMS Contract from Leading Beverage Bottler

FAIRFAX, VA / ACCESSWIRE / August 10, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider (MSP) contract by a leading U.S. beverage bottler. The contract is for three years with a total contract value of $2.6 million.

WidePoint's Subsidiary IT Authorities Awarded Three Year Managed Service Provider Contract Valued at $2.6 Million

FAIRFAX, VA / ACCESSWIRE / August 3, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced today that its subsidiary Soft-ex Communications has launched its Three Analyst platform with Three UK. Soft-ex is now delivering its latest digital billing communications and analytics platform, Three Analyst, as an integral offering in the new Three Business Adapt portfolio, to Three UK's business customers.

WidePoint's Subsidiary Soft-ex Launches Three Analyst with Three UK to Deliver Soft-ex's Innovative Digital Bill Presentment and Analytics Solution to Business Customers

FAIRFAX, VA / ACCESSWIRE / August 1, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), will hold a conference call on Monday, August 15, 2022 at 4:30 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2022.

WidePoint Sets Second Quarter 2022 Conference Call for Monday, August 15, 2022 at 4:30 p.m. ET

FAIRFAX, VA / ACCESSWIRE / July 19, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), announced today that it was awarded more than $53.2 million in contracts during the second quarter of 2022. Jin Kang, WidePoint's CEO, stated: "In the second quarter of 2022, WidePoint saw more than 50 contractual actions including new awards, renewals, contract extensions and exercised option periods for our Identity and Access Management (IAM), Telecom Expense Management (TEM) and Managed Mobility Services (MMS), and IT as a Service (ITaaS) solutions.

WidePoint Awarded More than $53.2 Million in Contracts During the Second Quarter of 2022

FAIRFAX, VA / ACCESSWIRE / July 13, 2022 / WidePoint Corporation (NYSE American:WYY) , the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Digital Billing & Analytics, and IT as a Service (ITaaS), announced today a new Task Order award from the U.S. Coast Guard under the U.S. Department of Homeland Security (DHS) Cellular Wireless Management Services 2.0 BPA. The new Task Order award includes a total period of performance of May 1, 2022 through October 31, 2026 with a total ceiling of $73.4 million if all periods are exercised.

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