WidePoint Corporation (WYY) reports developments in secure mobile management and technology managed services for government and enterprise customers. The company’s updates center on Trusted Mobility Management (TM2), Identity & Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service, Cloud Security, and Analytics & Billing as a Service (ABaaS).
Recurring news includes financial results and conference calls, managed-services contract awards, government mobility task orders under Cellular Wireless Managed Services (CWMS), FedRAMP-authorized ITMS platform activity, Device-as-a-Service opportunities, and investor conference participation. Updates also reference subsidiary and alliance activity, including Soft-Ex work tied to license management.
WidePoint Corporation (NYSE American: WYY) is set to join the Russell Microcap® Index effective June 28, 2021, marking a significant milestone for the company. This inclusion follows a strong performance in 2020 and Q1 2021, as well as recent accolades, including the Co-sell Ready status from Microsoft for Soft-ex. Membership in the Russell Microcap® Index will enhance WidePoint's visibility among investors, with approximately $10.6 trillion in assets benchmarked against Russell indexes. The company specializes in Trusted Mobility Management solutions.
WidePoint Corporation (NYSE American:WYY) announced that its subsidiary, Soft-ex Communications, achieved Co-sell Ready status from Microsoft. This certification facilitates collaboration on global sales opportunities, enhancing business growth. Soft-ex's solutions are now included in the Microsoft commercial marketplace, providing advanced UC Voice Analytics and Billing solutions to optimize customer experience and costs. Both CEOs expressed optimism about leveraging this partnership to enhance service delivery and capitalize on the growing demand for unified communications solutions.
WidePoint Corporation (NYSE American: WYY) reported a strong first quarter for 2021, achieving revenues of $20.7 million and a gross margin of 22.8%. The company saw an increase in Managed Services revenue to $9.3 million and a net income of $585,000 or $0.06 per diluted share. Significant contracts, including an $86 million DHS contract, bolster their market position. WidePoint expects revenues of $103 million for fiscal 2021, reflecting a 16% growth rate, excluding the effects of the 2020 Census project.
WidePoint Corporation (NYSE American: WYY) will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, at 8:45 a.m. Eastern time. The management will deliver a live webcast of the presentation and participate in one-on-one meetings with investors and analysts during the event. Interested parties can reach out to Gateway Investor Relations for more information or to schedule meetings. WidePoint specializes in trusted mobility management solutions, including telecom management and identity management.
WidePoint Corporation (NYSE American: WYY) will hold a conference call on May 14, 2021, at 4:30 p.m. ET to discuss its Q1 financial results ending March 31, 2021. A press release with the financial results will be issued prior to the call. Interested parties can dial (888) 506-0062 for U.S. or (973) 528-0011 for international access, with the passcode 862059. The call will also be accessible via the company's investor relations website and available for replay through May 28, 2021.
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WidePoint Corporation (WYY) has partnered with Intercede to provide managed identity management credentialing services for a Fortune Global 500 company. This contract includes the deployment of Intercede's MyID credential management software. WidePoint will issue Personal Identity Verification (PIV-I) credentials, enabling access to a major federal agency's information. This is the third significant identity management contract announced by WidePoint in 2021, highlighting increasing demand for its solutions.
WidePoint Corporation (NYSE American: WYY) has secured over $86 million in task orders from the U.S. Department of Homeland Security (DHS) as part of its Cellular Wireless Managed Services (CWMS) 2.0 contract. This contract, established in November 2020, has a total ceiling of $500 million and spans five years. The awarded task orders include significant contracts for various DHS agencies, such as an $81.8 million order for Immigration and Customs Enforcement. The rapid awarding of these tasks suggests strong demand for WidePoint's solutions.
WidePoint Corporation (NYSE American: WYY) reported a successful 2020, marking its most profitable year. Revenues surged by 77% to $180.3 million, driven by a 29% increase in Managed Services revenue. The company achieved $10.3 million in net income and saw a 59% rise in Adjusted EBITDA to $5.7 million. Secured key contracts, including a $500 million deal with the U.S. Department of Homeland Security, reinforcing growth prospects. With strong metrics and a cash-rich balance sheet, WidePoint aims for continued growth in 2021.
WidePoint Corporation (NYSE American: WYY) announced a conference call scheduled for March 23, 2021, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2020. The call will include a question-and-answer session. Investors can join via U.S. dial-in or international numbers provided. A live broadcast and replay will be available on the company’s investor relations website. This call aims to provide insights into the company’s performance, enhancing transparency for shareholders and potential investors.