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) reported over $10.4 million in contract awards for Q4 2020, including the U.S. Department of Homeland Security Cellular Wireless Managed Services 2.0 Contract. The company executed more than 30 contractual actions, encompassing new awards, renewals, and extensions across diverse sectors such as government, education, and leading corporations. CEO Jin Kang noted the growing adoption of their Managed Mobility Services as a preferred solution for mobile workforce management, highlighting an optimistic outlook for continued expansion in 2021.
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WidePoint Corporation (NYSE American: WYY) has secured a significant contract with a hospital associated with the U.S. Department of Health and Human Services (HHS). The contract includes issuing External Certificate Authority (ECA) credentials, which enable secure access to HHS systems for hospital employees and partners. The agreement spans a one-year initial term with a potential three-year extension. WidePoint is one of only two U.S. ECA providers authorized by the Department of Defense, positioning it advantageously in the market.
WidePoint Corporation (NYSE American: WYY) has been invited to present at the 23rd Annual Needham Growth Conference from January 11-15, 2021. The management presentation is scheduled for January 11 at 2:45 p.m. Eastern time. A live webcast will be available for replay. Additionally, management will conduct one-on-one virtual meetings with investors and analysts during the conference. For more details or to schedule a meeting, interested parties can contact Gateway Investor Relations.
WidePoint Corporation (NYSE American: WYY) announced a contract between its subsidiary Soft-ex Communications and Three Ireland (Hutchison) Limited to implement the Three Analyst digital billing platform. This platform aims to enhance customer experience by providing detailed insights into telecom costs for Three's enterprise customers. The partnership emphasizes innovation and seamless customer engagement, contributing positively to both companies. CEO Jin Kang highlighted the demand for their solutions amidst increasing digitalization efforts, strengthening WidePoint's position in the market.
WidePoint Corporation (NYSE American: WYY) announced that its subsidiary Soft-ex Communications has secured a multi-year contract with Zetacom. This partnership will enable Zetacom to provide clients with Unified Comms Analytics, offering integrated reporting and centralized cost visibility. The deal comes amid increased demand for remote communication solutions, especially Microsoft TEAMS and Mitel MiCollab. The CEOs of both companies expressed optimism about the collaboration, highlighting its potential benefits in optimizing communication infrastructure and enhancing customer experiences.
WidePoint Corporation (NYSE American: WYY) announced that its subsidiary, Soft-ex Communications, has secured a three-year contract with CANCOM C&C to provide a Unified Billing and Analytics solution. This contract aims to enhance digital billing communications for CANCOM's clients, allowing them to view all costs and metrics on a single platform. CANCOM C&C selected Soft-ex for its expertise in billing solutions, driven by increased demand for effective communication during the digitalization accelerated by COVID-19.
WidePoint Corporation (WYY) announced the award of a $500 million contract by the U.S. Department of Homeland Security (DHS) for Cellular Wireless Managed Services (CWMS) 2.0. Effective November 25, 2020, this Indefinite Delivery, Indefinite Quantity (IDIQ) contract comprises a one-year base period with four option periods, concluding on November 24, 2025. The CEO, Jin Kang, expressed gratitude and confidence in WidePoint's role in enhancing mobile services and security for DHS and its components. The company aims to continue leveraging partnerships to support DHS's vital missions.
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%.