RingMaster Version 6.1 launched with new innovative dashboard delivering advanced telecom performance, infrastructure and cost reporting on Unified Comms

WidePoint Corporation (NYSE American: WYY), the leading provider of Trusted Mobility Management (TM2) specialising in Telecommunications Lifecycle Management, Identity Management and Digital Billing & Analytics solutions, announced today that its subsidiary Soft-ex Communications, has launched its next generation RingMaster Version 6.1 providing Analytics on UC & Collaboration to cater for the new norm in work practices post Covid.

How we now work and communicate in the new norm has put significant focus on infrastructure and performance optimisation for enterprises. For example, the requirement to manage gateway utilisation for higher remote traffic and providing capacity warnings has become critical. Equally unused licences and handsets in offices need to be either reallocated or switched off. Given the new landscape in which we find ourselves, there is also increased focus on dashboard design and navigation for ease of transparency. Enhanced visualisation of inventory and infrastructure is also in high demand in the current work environment e.g. how jabber clients/devices are being used, by whom and where etc.

The latest release of RingMaster Version 6.1 offers a completely new and innovative user interface with a widget driven dashboard delivering enhanced analytics, navigation and user experience. The configurable solution delivers granular visibility on performance, infrastructure and costs to enterprise and public sector customers. RingMaster Version 6.1 integrates with all major UC platforms such as Cisco, Microsoft, Avaya, Broadsoft, Unify and Mitel. This next generation of RingMaster will enable end users to drill down and report on user adoption levels of UC and measure and analyse key performance indicators such as voice,video, messaging, desktop sharing and gateway utilisation. RingMaster Version 6.1 also provides a solution for optimising targets for call handling, operator staffing levels, failed calls, hunt group response times and incoming call response times in customer-facing departments.

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Ian Sparling, CEO of Soft-ex, commented, “Infrastructure and performance optimisation has become increasingly important post Covid with a huge focus for Communication Service Providers (CSPs) on customer retention and compliance.  Our solutions proactively push the information out to the enterprise end-user, so they can make decisions intuitively and quickly, when needed to operate optimally from an infrastructure and performance perspective”. Sparling added, “We deliver our applications to fit any business model (on-site, managed service or SaaS) for mobile,fixed, VoIP and data.  Our new release of RingMaster delivers a completely new and improved user experience delivering enhanced graphics, widgets and self-serve analytics”.

About Soft-ex

Soft-ex, part of the WidePoint Group, is a leading global supplier of Digital Billing Communications solutions. They assist Digital Service Providers to deliver interactive digital bill presentment and analytics, which leads to enhanced customer experience and reduced billing and customer care costs. They not only deliver intelligence to the end user regarding costs and usage analysis, but also deliver Subscriber Data Intelligence to the DSP. Soft-ex is headquartered in Ireland with offices in the UK and the Netherlands, and customers and partners in over 90 countries globally. For more information, visit www.soft-ex.net

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 www.widepoint.com

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Industry analysts Omnisperience found that 84% of communications service providers intended to invest in their bills in the next 24 months. The number one reason cited for this investment is to differentiate against competitors. The question is: can you deliver the changes the market is demanding faster than your rivals, or will you be left playing catch up and hoping your customers are not tempted away by a better billing experience?

Smart communications service providers (CSPs) are increasingly focussed on customer retention rather than just customer acquisition strategies. A powerful tactic in achieving higher retention is to move towards more effective bill communications. Simply put, bills need to become more relevant to customer needs and encourage engagement in order to minimise customer churn. The interesting part is that this can be realised without the need to wait for billing system consolidation or multi-year transformation projects. By focusing efforts on transforming the thin bill presentation layer, CSPs can deliver customer benefits faster.

Interestingly, during the duration of the study into bill effectiveness and transformation trends, not one CSP said that COVID-19 had slowed their endeavours towards digitalisation. In fact, 75% said the pandemic has actually expedited progress. However, as we know, transformation is generally an immense, complex, expensive and multi-year undertaking. So if CSPs cannot afford to wait years to improve digital capabilities, and their customers are not prepared to wait years to see the benefits, what can be done now?

CSP transformation must centre on lean and visible value

Smart CSPs are adopting 'lean digital transformation'. This advocates focusing efforts on adding the most customer value in the fastest time, and looking at where operational inefficiency impacts customers the most. The lean digital approach exposes the fact that a lot of digital transformation has been about meeting the CSP’s own needs for cost reduction and increased efficiency rather than meeting the customer’s needs.

A lean approach puts the customer back into the heart of transformations. By concentrating on the thin layer closest to the customer - rather than the thick layer of systems behind it - CSPs can add a ‘digital skin’ to their business support systems which rapidly transforms customers’ perceptions and experience. The resulting ‘digital makeover’ delivers the customer-centric benefits of transformation rapidly and cost-effectively while minimising disruption and risk.

The lean approach also allows CSPs to squeeze more value out of the sunk cost of their legacy systems and alleviates pressure on IT teams.This helps to further enable transformation and consolidate complex business support system architectures at the right pace and in a more controlled and less risky manner. This can be invaluable where time is at a premium. For example, to react to unprecedented circumstances such as the aftermath of the COVID-19 crisis, or following mergers or acquisitions where CSPs need to rapidly consolidate extra bill communications.

Not only does a lean approach deliver the type of digital experience that customers now expect, it helps CSPs do this in months rather than years, ensuring they stay ahead of rivals and differentiate their offering in the market.

For more information on how you can use your bill to stay ahead, please contact sales@soft-ex.net

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 second quarter ended June 30, 2020.

Second Quarter 2020 and Recent Operational Highlights:

• Secured $42 million in federal contract wins, exercised option periods, and contract extensions during the second quarter of 2020
• Awarded a new contract from the Virginia Alcoholic Beverage Control Authority (Virginia ABC) for telecom expense management (TEM) services
• Secured $1.5 million in commercial TM2 contracts during the second quarter of 2020
• Increased the number of devices managed for the United States Census 2020 by over 50% to approximately 680,000 devices
• Announced a strategic vendor agreement with SYNNEX Corporation (NYSE: SNX), potentially expanding channels for reselling credentials

Second Quarter 2020 Financial Highlights (results compared to the same year-ago period):

• Revenues increased 148% to $54.8 million
• Managed Services revenue increased 22% to $9.8 million
• Gross profit increased 25% to $5.1 million
• Net income totaled $489,000
• EBITDA, a non-GAAP financial measure, increased 230% to $1.0 million
• Adjusted EBITDA, a non-GAAP financial measure, increased 107% to $1.2 million

Six Month 2020 Financial Highlights (results compared to the same year-ago period):

• Revenues increased 115% to $94.4 million
• Managed Services revenue increased 37% to $21.4 million
• Gross profit increased 21% to $10.0 million
• Net income totaled $973,000
• EBITDA, a non-GAAP financial measure, increased 73% to $2.2 million
• Adjusted EBITDA, a non-GAAP financial measure, increased 62% to $2.7 million

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The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under the “Safe Harbor Statement” below.

Financial Outlook

For the fiscal year ending December 31, 2020, the company is reiterating its revenue guidance of $185 million to $195 million, which at the midpoint of the range, would represent 87% growth. The company is also reiterating its EBITDA guidance of $3.0 million to $3.4 million, which at the midpoint, represents a 13% increase relative to fiscal 2019.The EBITDA forecast takes into consideration the company’s planned strategic investments in sales and marketing and product development in the second half of 2020. The company’s financial outlook is based on current expectations.

Management Commentary

“Despite the challenging operating environment that persisted through the second quarter of 2020, we continued to build on the positive trends we established at the start of the year and produced one of the most successful quarter’s in our company’s history,” said WidePoint’s CEO, Jin Kang. “Our revenues increased considerably to $54.8 million, largely driven by our increased work on the U.S. Census 2020 as well as expansions with other federal government customers who rely on our services to help them navigate the increasing complexities of the mobile landscape. Although the Census project contains a large amount of Carrier Services revenues, which negatively impact our margin profile, we still earned $489,000 in net income and approximately $1.0 million in EBITDA as our high margin Managed Services revenues increased 22% to $9.8 million in the second quarter.

“As the number of mobile and IoT devices continues to expand, the need for effective management and top-tier security, which simplifies complexity and generates cost savings, is only increasing. Given those trends and our strong financial position, we remain optimistic about our prospects for the second half of the year and our ability to continue profitably growing the business over the long term.”

For complete financial details, please visit www.widepoint.com

Conference Call

WidePoint management will hold a conference call today (August 13, 2020) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.

WidePoint President and CEO Jin Kang, Executive Vice President and Chief Sales and Marketing Officer Jason Holloway, and Executive Vice President and CFO Kellie Kim will host the conference call, followed by a question and answer period.

U.S. dial-in number: 844-407-9500
International number: 862-298-0850

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.

The conference call will be broadcast live and available for replay here and via the investor relations section of the company’s website.

A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through August 27, 2020.

Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 36035

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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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Safe Harbor Statement

The information contained in any materials that may be accessed above was, to the best of WidePoint Corporations’ knowledge, timely and accurate as of the date and/or dates indicated in such materials. However, the passage of time can render information stale, and you should not rely on the continued accuracy of any such materials. WidePoint Corporation has no responsibility to update any information contained in any such materials. In addition, you should refer to periodic reports filed by WidePoint Corporation with the Securities and Exchange Commission for information regarding the risks and uncertainties to which forward-looking statements made in such materials are subject. Such risks and uncertainties may cause WidePoint Corporation’s actual results to differ materially from those described in the forward-looking statements.

Investor Relations:

Gateway Investor Relations
Matt Glover or Charlie Schumacher
949-574-3860
WYY@gatewayir.com