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 results for the fourth quarter and full year ended December 31, 2019.

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Fourth Quarter 2019 and Recent Operational Highlights:

- Received a notice of intent from the Department of Homeland Security (DHS) to solicit and award a sole source IDIQ contract to WidePoint for Cellular Wireless Managed Services (CWMS)

- Supported the address canvassing program, the first major field operation of the 2020 Census, by activating, deploying, tracking, and decommissioning over 60,000 devices and providing training and help desk support to over 60,000 enumerators

- Appointed Kellie Kim, a finance and accounting professional with over 30 years of experience in telecom, technology, and professional services as the new chief financial officer

- Partnered with KoolSpan to provide end-to-end encryption for phone calls and text messages

- Repurchased 864,000 shares of common stock, equivalent to $366,000, as of December 31, 2019

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Fourth Quarter 2019 Financial Highlights (results compared to the same year-ago period):

- Revenues increased 13% to $28.1 million

- Gross profit increased 6% to $4.8 million

- Net loss totaled $34,000

- Adjusted EBITDA, a non-GAAP financial measure, was $972,000, marking the company’s tenth consecutive quarter of positive adjusted EBITDA, and in line with forecast

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Full Year 2019 Financial Highlights (results compared to the same year-ago period):

- Revenues increased 22% to a record $101.7 million

- Gross profit increased 14% to a record $17.4 million

- Net income totaled $226,000

- Adjusted EBITDA totaled $3.6 million

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For more details please visit www.widepoint.com

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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, announced that the U.S. Department of Homeland Security (DHS) has issued a notice of “intent to solicit and award an interim sole source Indefinite Delivery Indefinite Quantity (IDIQ) contract to WidePoint Integrated Solutions Corp (WidePoint)” for the procurement of Cellular Wireless Managed Services.

Jin Kang, WidePoint President and Chief Executive Officer, stated, “WidePoint is honored to continue our work with DHS through this IDIQ. Our proven team is dedicated to always improving the service and support we provide to DHS. We are also investing in security enhancements and platform innovations that are expanding our TM2 framework and Managed Mobility Services offering. We do this to ensure that DHS has the best and most secure CWMS solution in the industry. Over the term of this contract, WidePoint is committed to providing the innovative expertise that can best support DHS’s vital mission.”

The notice confirms that the anticipated period of performance for this effort will be 12 months from the award date with no option periods. This IDIQ will serve as an interim contract to provide uninterrupted CWMS support for DHS while the Department plans for a competitive acquisition for the new Cellular Wireless Managed Services (CWMS) IDIQ, which will contain a base period and four (4) option periods. This competitive acquisition is anticipated to be awarded in October 2020.

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About WidePoint

WidePoint Corporation (NYSE American: WYY) is a leading provider of trusted mobility management (TM2) solutions, including telecom management, mobile management, identity management, and digital billing and analytics. For more information, visit widepoint.com.

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Investor Relations:

Gateway Investor Relations

Matt Glover or Charlie Schumacher

949-574-3860, WYY@gatewayir.com

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Yes it’s that time of year again when MWC, the largest mobile event in the world, brings together the latest innovations and leading-edge technology alongside today’s most influential visionaries. From 24-27 February in Barcelona, you can learn all about the trends and Soft-ex will also be there!

Soft-ex has a significant global footprint in the CSP enterprise market with clients such as Telefonica, Three, eir, Virgin Media, Flexity and Liberty Global. At this year’s MWC, we will be showcasing our new Interactive Bill Presentment & Analytics solutions for Enterprises & Consumers. Our innovative, design-led solutions effectively enables CSPs to leverage and consolidate data from their existing billing systems and present personalised digital bills, reducing customer care costs and enhancing the overall customer experience.

If you are attending MWC 2020 in Barcelona and would like to see our solutions in action and learn how your organisation can benefit, simply email us sales@soft-ex.net regarding preferred meeting times and we will confirm.

Looking forward to seeing you at MWC 2020!

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