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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 (NYSE American:WYY) has announced the complete integration of IT Authorities (ITA) as an operating subsidiary, strengthening its position as a full federal service integrator. The integration expands WidePoint's capabilities in secure IT services, particularly in Identity and Access Management solutions and Telecom Expense Management.
The expanded service portfolio now includes Managed IT Services, NOC-as-a-Service with 24/7 support, IT Outsourcing, and advanced IT security infrastructure solutions. ITA brings highest-level Cisco and Microsoft certifications, enhancing WidePoint's cloud solutions and disaster recovery capabilities. Jason Caras, ITA's CEO, will continue as senior vice president at WidePoint.
The integration aligns with WidePoint's strategy to strengthen its competitive position in securing new government contracts and emerging opportunities while delivering enhanced value to clients through comprehensive IT service delivery.
WidePoint (NYSE American:WYY) has secured a new contract in partnership with 22Vets Technologies to provide Non-Federal Issuer (NFI) for PIV-Interoperable credentials supporting a global energy service company's Smart City Internet of Things (IoT) program. The partnership combines WidePoint's Identity & Access Management technology with 22Vets's IoT expertise.
The contract serves as a pilot for what is planned to be a nationwide rollout focused on creating safer communities. 22Vets will integrate smart city initiatives through their CommunityFirst and StudentFirst Security programs, combining cyber, physical, and critical infrastructure security services with WidePoint's cybersecurity and PKI solutions.
WidePoint (NYSE American:WYY) reported Q3 2024 results with revenues of $34.6 million, up 35% year-over-year. The company secured $15.2 million in contract awards and renewals, including $1.4 million in IT as a Service contracts. Despite showing a net loss of ($425,200), this represents an improvement from ($921,100) in the same period last year. Notable achievements include the successful deployment of their proprietary MobileAnchor Digital Credential solution to two Federal Agencies and marking their 29th consecutive quarter of positive Adjusted EBITDA. The company maintains strong financials with $5.6 million in cash and no bank debt, trending towards the higher end of their annual guidance.
WidePoint (NYSE American:WYY), an enterprise cyber security and mobile technology provider, has scheduled its third quarter 2024 earnings conference call for Wednesday, November 13, 2024, at 4:30 p.m. ET. The company will release its financial results for the quarter ended September 30, 2024, before the call. Management will host the conference call followed by a Q&A session. The call will be broadcast live and available for replay through November 27, 2024.
WidePoint (NYSE American: WYY) announced that its subsidiary IT Authorities has secured contracts worth over $1.7 million for Cisco and Managed IT Services. The contracts include $1.4 million in previously disclosed Q3 2024 awards and a new $300,000 Cisco Enterprise Agreement for Q4 2024. Despite hurricane-related business slowdowns in Florida, ITA secured contracts with diverse clients including beverage distributors, a sports marketing firm, an education center, a research center, and a data management firm.
WidePoint (NYSE American:WYY) secured contracts worth $15.2 million in Q3 2024, including $3.2 million in commercial contracts and $12 million in government contracts. The company reported over 39 contractual actions, including new orders for MobileAnchor™ Derived Digital Credentials from federal agencies, multi-year managed technology services contracts, and multiple commercial MMS contracts in transportation, insurance, and healthcare sectors. A major mobility management program for a new federal civilian agency client was successfully launched.
WidePoint (NYSE American:WYY), an enterprise cyber security and mobile technology provider, is set to participate in the 17th Annual LD Micro Main Event. The event will take place from October 28-30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles, California.
WidePoint's presentation is scheduled for Wednesday, October 30th at 8:00 a.m. Pacific time. The company will also be available for one-on-one meetings throughout the conference. Investors can view the presentation online and schedule meetings by emailing WYY@gateway-grp.com.
The LD Micro Main Event will feature presentations from approximately 150 companies across various industries, showcasing innovative micro-cap companies.
WidePoint (NYSE American:WYY) has been awarded a new one-year agreement to provide MobileAnchor™ Derived Digital Credentials for a Federal Civilian Agency. This contract highlights WidePoint's ability to offer high-security identity and access management services for mobile digital credentials in the federal market space.
The MobileAnchor™ solution offers several unique benefits, including:
- Enhanced security through direct integration and reduced attack surface
- User convenience with seamless access and integrated multi-factor authentication
- Simplified deployment with less overhead
- Flexibility and compatibility with native support for modern operating systems and applications
This new client acquisition demonstrates the growing recognition of MobileAnchor™ as a valuable solution for secure mobile access to resources, even when traditional PIV cards are impractical.
WidePoint (NYSE American:WYY), a leading enterprise cyber security and mobile technology provider, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9-11, 2024, at the Lotte New York Palace Hotel in New York City.
Key points:
- WidePoint management will present on Wednesday, September 11, 2024, at 1:30 PM Eastern time
- The company will hold in-person one-on-one meetings throughout the conference
- Interested parties can schedule meetings by emailing WYY@gateway-grp.com
This presentation offers an opportunity for investors to gain insights into WidePoint's innovative solutions and growth strategies in the rapidly evolving cyber security and mobile technology sectors.
WidePoint (NYSE American:WYY) reported its Q2 and H1 2024 financial results, showing significant growth. Q2 revenues increased 35% year-over-year to $36 million, while Adjusted EBITDA improved 479% to $811,000. The company's net loss decreased to $500,000 or $(0.05) per diluted share. For H1 2024, revenues grew 35% to $70.2 million, with Adjusted EBITDA up 764% to $1.4 million.
Operational highlights include a $254 million contract modification from the U.S. Department of Homeland Security and selection for the U.S. Navy's 10-year, $2.7 billion Spiral 4 contract. WidePoint also deployed its new proprietary MobileAnchor Digital Credential into a Federal Agency. The company maintained positive free cash flow and ended Q2 with $4.0 million in cash and no bank debt.