WidePoint Awarded More than $15.2 Million in New and Renewal Contracts in Q3 2024
Rhea-AI Summary
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.
Positive
- Secured $15.2 million in new and renewal contracts in Q3 2024
- Government contracts represent majority of awards at $12 million
- Successfully launched major mobility management program with new federal civilian agency
- Expanded commercial presence with contracts in transportation, insurance, and healthcare sectors
Negative
- None.
News Market Reaction
On the day this news was published, WYY declined 1.08%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
FAIRFAX, VA / ACCESSWIRE / October 23, 2024 / WidePoint Corporation(NYSE American:WYY), the innovative enterprise cyber security and mobile technology provider, announced it was awarded approximately
Jin Kang, WidePoint's Chief Executive Officer, stated: "Q3 2024 confirms that each of WidePoint's solution lines is gaining market momentum. We are proud that our offerings are being recognized by commercial and government enterprises as the preferred technology partner for managing and securing devices, staff and mobile environments. We are excited to see this momentum continuing through Q4 2024 and into 2025."
Highlights include:
More than 39 contractual actions resulting in approximately
$15.2 million in contract valueApproximately
$3.2 million in commercial contractsApproximately
$12 million in government contracts
New orders for WidePoint's MobileAnchor™ Derived Digital Credentials from federal defense and civilian agencies
Multi-year managed technology services contracts
Multiple commercial MMS contracts including leading transportation, insurance and healthcare companies
A major mobility management program for a new federal civilian agency client went live after months of implementation, marking the success of another strategic partnership
Jason Holloway, WidePoint's Chief Revenue Officer, stated: "Q3 2024 was particularly noteworthy for WidePoint's PKI and Identity & Access Management business development initiatives with the launch of MobileAnchor™ Derived Digital Credentials.We are now fielding numerous pilot programs and are seeing increased interest in this next generation Derived Digital Credential offering."
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM, Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WYY@gateway-grp.com
SOURCE: WidePoint Corporation
View the original press release on accesswire.com
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