Widepoint Stock Price, News & Analysis

WidePoint Corporation (NYSE American: WYY) has launched the WidePoint TM2 Store at widepointmobile.com, offering significant discounts on mobile devices and accessories, particularly targeting government and commercial clients. The store aims to bolster sales by 10% to 30%, increasing profits by up to 25%. With a special promotion providing 30% off orders over $20 until December 31, 2020, clients can benefit from volume discounts on major brands like Apple and Samsung. The initiative enhances WidePoint's distribution capabilities, showcasing their experience in procurement for government organizations.

WidePoint Corporation (NYSE American: WYY) reported a significant third quarter for 2020, achieving revenues of $57.5 million, a 94% increase from the previous year. The company secured over $11 million in contract wins and launched new services for the Virginia ABC. Notably, Identity Management revenue rose 14% sequentially. The gross profit increased 30% to $5.6 million, with a net income of $1.1 million. A reverse stock split occurred on November 6, aiming for long-term positioning. Year-to-date revenues reached $152.0 million, up 106%.

WidePoint Corporation (NYSE American: WYY) has been recognized as a Representative Telecom Expense Management (TEM) Pure-Play Vendor for Regional Delivery in Gartner's 2020 Market Guide. This accolade highlights WidePoint's emphasis on security within its telecom management platform, catering to highly regulated sectors like government, healthcare, and finance. The recognition underscores the growing demand for cost optimization and ongoing management services as organizations adjust in the wake of COVID-19, which has prompted a focus on reducing operational expenses.

WidePoint Corporation (NYSE American: WYY) reported over $11.6 million in contract awards in Q3 2020, comprising 40 contractual actions including new awards and extensions. CEO Jin Kang highlighted the growing demand for their Mobility Managed Services (MMS) as organizations adapt to mobile and remote work. The company aims to enhance revenues through ancillary services and has secured a new Identity Management client, indicating a focus on higher-margin business opportunities. WidePoint positions itself as a trusted provider for telecom and mobile resource consolidation.

WidePoint Corporation (NYSE American: WYY) will host a conference call on November 16, 2020, at 4:30 p.m. Eastern to discuss its Q3 financial results for the period ending September 30, 2020. Results will be released prior to the call. Investors can access the call by dialing the U.S. number (844) 407-9500 or the international number (862) 298-0850. The call will include a Q&A session and will be available for replay until November 30, 2020. WidePoint specializes in Trusted Mobility Management solutions, including telecom management and identity management.

WidePoint Corporation (NYSE American: WYY) has significantly increased its fiscal 2020 EBITDA guidance to between $4.7 million and $4.9 million, a remarkable 50% increase from previous estimates and 69% year-over-year growth. Revenue expectations remain at $185 million to $195 million. The company attributes this positive outlook to additions of high-margin business and improved operational efficiency, indicating fiscal 2020 will be a record year, according to CEO Jin Kang.

WidePoint Corporation (NYSE American: WYY) has announced a 1-for-10 reverse stock split effective November 6, 2020, after receiving shareholder approval on August 24, 2020. The board believes this move will enhance the stock's attractiveness to investors. Trading under the new split will commence on November 9, 2020, with no fractional shares issued. The company aims to capitalize on its current financial success and operational strength to position itself for long-term growth.

WidePoint Corporation (NYSE American: WYY) has been invited to present at the 9th Annual Gateway Conference on September 9-10, 2020. The company specializes in Trusted Mobility Management (TM2) solutions. WidePoint's presentation is scheduled for September 9 at 10:00 a.m. Pacific time, with one-on-one meetings available throughout the event. The conference is designed to connect compelling companies with top institutional investors and analysts. Attendance includes direct access to senior management via presentations and Q&A sessions. For more information, visit gatewayir.com/conference.

WidePoint Corporation (WYY) reported robust second-quarter results for 2020, with revenues soaring 148% year-over-year to $54.8 million. Managed Services revenue rose 22% to $9.8 million, while gross profit grew 25% to $5.1 million. The company secured $42 million in federal contracts and $1.5 million in commercial contracts, highlighting its growth. Net income was $489,000 with an EBITDA increase of 230% to $1.0 million. For the first half of the year, revenues jumped 115% to $94.4 million, indicating a strong growth trajectory.