WidePoint Secures More than $42 Million in Federal Trusted Mobility Management (TM2) Contracts during the Second Quarter of 2020
WidePoint Corporation (NYSE American: WYY) announced over $42 million in federal contract awards and extensions in Q2 2020.
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Rhea-AI Summary
WidePoint Corporation (NYSE American: WYY) announced over $42 million in federal contract awards and extensions in Q2 2020. The company recorded 34 contractual actions including new contracts and renewals with federal clients, notably the U.S. Department of Homeland Security and the CDC. CEO Jin Kang highlighted the increasing adoption of mobile workforce practices, which drives growth and cost-saving benefits for government agencies. WidePoint aims to maximize resources across the mobile landscape amid changing federal budgets.
Positive
- Over $42 million in federal contract awards and extensions recorded in Q2 2020.
- 34 contractual actions, showcasing significant federal client engagement.
- Contracts with key clients including the U.S. Department of Homeland Security and CDC highlight demand for services.
- Increasing adoption of mobile workforce practices supports company growth.
Negative
- None.
Details
News Market Reaction – WYY
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FAIRFAX, Va., July 14, 2020 (GLOBE NEWSWIRE) -- WidePoint Corporation (NYSE American: WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management and Digital Billing & Analytics solutions, today reported that the company recorded more than
During the quarter, WidePoint recorded 34 contractual actions, including new contracts, contract renewals, exercised option periods and contract extensions with federal government clients. Highlights include:
- Task orders, contract renewals and extensions with the U.S. Department of Homeland Security Headquarters and numerous DHS Components
- Option contracts for Managed Mobility Services exercised by the Centers for Disease Control and Prevention, National Science Foundation, U.S. Courts, and the U.S. Department of Health and Human Services, among others
“Many agencies are continuing to adopt more mobile workforce practices, and that trend is significantly expanding our work and helping drive growth for WidePoint,” said Jin Kang, WidePoint’s president and CEO. “Additionally, as government agencies grapple with changing budgets, the value of WidePoint’s TM2 solutions has become even more evident. We help our customers save money, which translates to saving jobs. We’re highly encouraged by the traction we’ve gained this year. We look forward to continuing this momentum to maximize resources across the mobile landscape for our current and prospective clients.”
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading provider of trusted mobility management (TM2) solutions, including telecom management, managed mobility services, identity management, and digital billing and analytics. For more information, visit widepoint.com.
Investor Relations:
Gateway Investor Relations, Matt Glover or Charlie Schumacher
949-574-3860, WYY@gatewayir.com