Widepoint Stock Price, News & Analysis

WidePoint Corporation (WYY) reported its fourth quarter and full year results for 2021, highlighting a revenue of $24.5 million for Q4 and $87.3 million for the full year. Managed Services revenue grew by 25% to $11.1 million in Q4, excluding the 2020 Census Project. However, a net loss of $575,000 was reported for Q4, translating to a loss of $0.06 per diluted share. The company anticipates a 5-10% growth in managed services revenues for 2022. A significant share repurchase program has been temporarily suspended to allow for business investment.

WidePoint Corporation (NYSE American:WYY) will present at the Maxim 2022 Virtual Growth Conference happening from March 28-30, 2022. The company specializes in Identity and Access Management (IAM), Telecommunications, and Managed Mobility Services (MMS). The presentation will be accessible via webcast, with replays available. Attendees of the conference can expect insights from a diverse range of sectors, including tech and healthcare. For more information or to arrange meetings, contact WYY@gatewayir.com.

WidePoint Corporation (NYSE American:WYY) has appointed Bob George as its new Chief Financial Officer, effective April 1, 2022. He replaces Kellie Kim, who announced her retirement in November 2021. George brings over 30 years of diverse experience in strategic planning and mergers & acquisitions, previously serving as CFO for Exovera and holding executive roles in notable companies. CEO Jin Kang expressed confidence in George's leadership, emphasizing his expertise will enhance WidePoint's growth strategy and performance in cybersecurity and IT services.

WidePoint Corporation (NYSE American:WYY) announced a conference call to discuss its financial results for the fourth quarter and full year ending December 31, 2021. The call is scheduled for March 28, 2022, at 4:30 p.m. Eastern time. Financial results will be released beforehand. Participants can join via U.S. dial-in or international numbers provided. A replay will be available after the call, extending until April 11, 2022. WidePoint specializes in Trusted Mobility Management solutions, including Identity Management and Managed Mobility Services.

WidePoint Corporation (NYSE American:WYY) announced an expansion of its technology management service offerings, including innovative Identity and Access Management (IAM) solutions. In 2021, the company focused on product development to enhance growth opportunities. Key achievements include quantum-resistant PKI solutions, SOC II certification for its subsidiary IT Authorities, and recognitions in the Gartner Magic Quadrant. The company is also enhancing its Digital Billing platform and expanding partnerships to meet complex cybersecurity challenges.

WidePoint Corporation (NYSE American:WYY) announced a new Cooperative Contract award for Software Solutions from the Texas Department of Information Resources. This contract, valid until November 15, 2022, with two optional one-year renewals, focuses on Mobile and Wireline SaaS solutions. CEO Jin Kang highlighted that this award makes their Managed Mobility Services accessible to 5,000 state and local public entities in Texas and beyond. The company aims to streamline procurement processes for these entities.

WidePoint Corporation (NYSE American:WYY) announced that its Public Key Infrastructure (PKI) Identity Management solutions are now Quantum-resistant. This advancement is crucial as Quantum computing develops, posing challenges to current cryptographic frameworks. WidePoint's PKI solutions align with NIST guidelines, which are adapting to counteract potential Quantum attacks. The company's technology offers robust protection without extensive computational requirements, catering to the growing demand for secure identity management solutions across both government and commercial sectors.

WidePoint Corporation (NYSE American:WYY) announced the purchase of approximately 299,500 shares of its common stock for about $1.23 million as part of its share repurchase program. The company has a remaining $3.77 million available for future stock buybacks. This repurchase will be executed through a prearranged trading plan compliant with Rule 10b5-1, allowing transactions even when it may be restricted due to insider trading laws. CEO Jin Kang expressed optimism about the company’s fundamentals and growth prospects for 2022.

WidePoint Corporation (NYSE American: WYY) will present virtually at the Sidoti December Virtual Micro Cap Conference on December 9, 2021, at 2:30 p.m. Eastern time. The event will showcase WidePoint's expertise in Trusted Mobility Management solutions, including Identity Management and Telecommunications Lifecycle Management.

Investors can view the live webcast and a replay online. For one-on-one meetings with the management team, contact Gateway Investor Relations at WYY@gatewayir.com or call 949-574-3860.