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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As we enter this new decade of continued focus on enhancing Customer Experience (and knowing how difficult it is to retain existing customers, not to mention, how costly it is to win new ones!), we expect to see customer digital engagement headlining many CSP’s strategies.

The barriers to move from one supplier to another are steadily lowering and customers are voting with their feet when it comes to dissatisfaction over poor and complicated bill presentment, such as incorrect billing or a lack of transparency on charges or indeed hidden contract changes. Some CSPs do attempt to solve this problem in-house, by building internal platforms or incorporating the bill presentment as part of a much larger transformation project. Unfortunately however, evidence has proven that it is regularly underestimated the level of complexity involved in consolidating multiple billing feeds and the need for effective UX design-led platforms. By the time they get it to market, it’s often too late and the customer has moved on.

Personalising and simplifying digital billing communications enhances the customer experience by ensuring customers receive accurate and easy-to-follow bills. Proactive notifications on prorated charges, campaign roll-offs and end-of-contract notices, reduce inbound call centre costs and generate better customer engagement and loyalty. Transparency provided via interactive billing and personalised offers (based on previous usage or preferences) will deliver positive results in customer retention levels. Self-serve billing analytics, accessible by user-friendly dashboards, means that service providers can build that all-important customer trust, highlighting that there are no hidden costs or inaccurate charges, leading to longstanding relationships.

At Soft-ex, we deliver enhanced interactive billing experiences for the CSP’s b2b & b2c customers helping to retain customers and win new customers. Our innovative solutions are biller agnostic and we offer an alternative fast path to enhanced customer billing experience while de-risking a carrier’s digital transformation. We simplify the bill and make it customer-centric, getting the benefit to the customer faster, without the fuss.

For more information on Soft-ex Interactive Bill, visit www.soft-ex.net or contact sales@soft-ex.net

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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 and KoolSpan, the provider of TrustCall, have entered into a partnership through which WidePoint delivers KoolSpan’s cross-platform, end-to-end communication solution to WidePoint customers so that they can make phone calls and send text messages securely.

WidePoint has partnered with KoolSpan to resell TrustCall, the leading secure mobile communications platform to governments and enterprises globally that secures phone calls and messages with end-to-end encryption. TrustCall is an enterprise-grade solution that delivers high performance and HD quality encrypted audio and can be flexibly deployed via the cloud, on premise, or in hybrid form.

“KoolSpan’s TrustCall ensures that devices use end-to-end encryption for all communication paths, which is crucial to improving the security of global telecommunications networks,” said Jin Kang, WidePoint President and Chief Executive Officer. “By partnering with KoolSpan, we have immediately added a secure communication tool that is directly complementary to our product suite and a critical need for our federal and enterprise clients. We expect this partnership to give us an additional leg up over our competition as we continue to focus on expanding our presence as a leading provider of trusted mobility management services.”

Nigel Jones, KoolSpan’s Chief Executive Officer, stated: “WidePoint has a long history of successfully serving both federal agencies and enterprise clients, and by partnering with them, we’re able to leverage their reputation and relationships to serve a much broader customer base.”

“Global telecommunications networks are inherently insecure as has been well documented by cyber security experts in the U.S. Government and across the private sector. The threats, from surveillance of communications to theft of IP to corporate espionage, are posed by systemic vulnerabilities in the global telecommunications infrastructure that readily enable interception and monitoring of mobile communications, both voice and data,” said Elad Yoran, KoolSpan Executive Chairman. “The only viable solution to this problem is to use end-to-end (E2E) encryption for all communications. KoolSpan is excited to partner with WidePoint to provide TrustCall.“

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.

About KoolSpan
KoolSpan is a leading provider of robust, cross-platform, end-to-end communication security on smartphones globally. KoolSpan TrustCall delivers strong end-to-end (E2E) encryption for calls, text/chats on Android and iPhone devices. Customers include governments and enterprises in 60+ countries. TrustCall is FIPS 140-2 validated and has 33 issued patents with dozens pending. KoolSpan is privately held and based in Bethesda, Maryland. For more information, visit www.koolspan.com.

Investor Relations:
Gateway Investor Relations
Matt Glover or Charlie Schumacher
949-574-3860, WYY@gatewayir.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, has appointed Kellie Kim as the company’s new Chief Financial Officer (CFO).

Kim brings to WidePoint more than 30 years of experience in financial planning and analysis in both public and private companies that operate in a variety of industries, including telecom, technology, and professional services with government. She has served in a range of senior finance roles throughout her career, including as CFO of Witt O’Brien’s, a wholly-owned subsidiary of Seacor Holdings, CFO of Opus Group, and CFO of Astrium Services Government, a subsidiary of Airbus Defence and Space. Kim is a Certified Public Accountant (CPA) in Maryland and Virginia, a founding board member of the Washington Women’s Leadership Initiative, and holds a certificate in strategic thinking and management for competitive advantage from the Warton School. She holds a bachelor’s degree in Accounting from the University of Maryland.

“Kellie brings to our organization a long history of senior leadership experience in both public and private organizations that directly complement WidePoint,” said company CEO, Jin Kang. “We believe her unique expertise in finance and accounting will be a great addition to our already capable and versatile executive management team and will help our organization run more efficiently and effectively as we drive scale. On behalf of our entire organization, I welcome Kellie to the WidePoint team.”

Kim added: “It’s a great privilege to be joining WidePoint at this juncture in the company’s trajectory. Over the past few years, the management team has done an excellent job righting the ship and setting the company on a clear course towards expansion and profitable growth, and I look forward to playing an integral role to further that mission.”

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.

Investor Relations:
Matt Glover and Charlie Schumacher
Gateway Investor Relations
(949) 574-3860
WYY@gatewayir.com

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