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News & Blog

Orange Paper

Effective Digital Billing for Service Provider Success

Not for the first time, the telecoms industry is in the midst of a period of exciting and fundamental change. The 2020 COVID-19 crisis accelerated digital maturation and due to customers’ increased digital expectations forced a new inflection point. Communication service providers (CSPs) urgently need to help their customers adjust to the New Normal and simultaneously position themselves for the wide-reaching innovations heralded by the rollout of 5G and FTTP.

This Omnisperience paper, which is based on primary research amongst European and North American CSPs, explores how CSPs can transform bills into the core of digital customer communications and thereby meet customer expectations of a more digital and personalised experience
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Download the orange paper here

WidePoint Reports First Quarter 2021 Financial Results

WidePoint Corporation (NYSE American:WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management (IdM) and Digital Billing & Analytics solutions, today reported results for the first quarter ended March 31, 2021.

First Quarter 2021 and Recent Operational Highlights

  • Received the first task orders under the Department of Homeland Security Cellular Wireless Management Services 2.0 contract, which were valued at $86 million in aggregate
  • Successfully on-boarded the DHS Cybersecurity and Infrastructure Security Agency (CISA)
  • Recognized by the International Organization for Standardization (ISO) for quality, environmental, and occupational health and safety
  • Awarded three new Identity Management contracts, including a deployment with a Fortune Global 500 corporation, increasing WidePoint's commercial footprint as well as the Company's secure digital certificates into a new U.S. federal agency
  • Number of U.S. Department of Defense secure digital certificates issued increased 8% sequentially from the fourth quarter of 2020
  • Recognized as honorable mention vendor in the 2021 Gartner Magic Quadrant for Managed Mobility Services, Global

First Quarter 2021 Financial Highlights:

  • Revenues were $20.7 million
  • Managed Services revenue increased sequentially to $9.3 million
  • Gross margin improved to 22.8%
  • Net income improved to $585,000, or $0.06 per diluted share
  • EBITDA, a non-GAAP financial measure, was $1.0 million
  • Adjusted EBITDA, a non-GAAP financial measure, was $1.2 million
  • As of March 31, 2021, cash increased to $17.1 million

Management Commentary
"After completing what was, by many metrics, the most successful year in WidePoint's history, we entered 2021 with solid momentum and with an intense focus on maintaining and ultimately growing our profitability," said WidePoint's CEO, Jin Kang. "In the first quarter, we grew our high margin Managed Services revenues sequentially to $9.3 million, while our low margin Carrier Services revenues decreased due to our work on the 2020 Census winding down as well as the residual effects of a carrier credit from last quarter. Carrier credits occur frequently in the normal course of our business as we occasionally find that a carrier has overcharged one of our clients. In this instance, we found the miscalculation and were able to save one of our prominent clients $2.6 million in expenses, which is reflected in our results as a decrease in Carrier Services, but which has no impact on our profitability. With Carrier Services revenues decreasing and gross profit staying fairly stable at $4.7 million, we improved our gross margins to 22.8%. We also increased our cash position to $17.1 million as we generated positive cash flows from operations and leveraged our at-the-market offering in January to better prepare WidePoint for growth opportunities.

"The financial results of the first quarter demonstrate that WidePoint has a solid base from which we can continue to build and expand our profitability. With tailwinds from the increasing complex mobile landscape, the growing need to secure mobile devices, and the return to more in person work expanding our pipeline, we are optimistic that we are in a healthy and strong position to continue driving the business's profitable growth over the long-run."

First Quarter 2021 Financial Summary details available at Widepoint

Financial Outlook
Due to the large, short-term changes in WidePoint's financial performance from the 2020 Census project, the Company believes comparing 2021 expectations to 2020 results, excluding the 2020 Census project, may provide a more objective analysis of the Company's anticipated performance. For the fiscal year 2021, the Company currently expects revenues of approximately $103 million, adjusted EBITDA of $4.3 million, and EPS of $0.12 per diluted share, based on 9,128,000 shares outstanding. Excluding WidePoint's work on the 2020 Census project, the Company's expectations reflect revenue growth of approximately 16% year-over-year and adjusted EBITDA consistent with fiscal year 2020. The Company's financial outlook is based on current expectations and actual results could differ materially depending on market conditions and the factors set forth under the "Safe Harbor Statement" below.

Conference Call
WidePoint management will hold a conference call today (May 14, 2021) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.

WidePoint's 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: 888-506-0062
International number: 973-528-0011
Passcode: 862059

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 May 28, 2021.

Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 40863

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.

Non-GAAP Financial Measures
WidePoint uses a variety of operational and financial metrics, including non-GAAP financial measures such as EBITDA and Adjusted EBITDA, to enable it to analyze its performance and financial condition. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.  

SOURCE: WidePoint Corporation


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WidePoint Recognized as an Honorable Mention Vendor in the 2021 Gartner Magic Quadrant for Managed Mobility Services

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 announced that WidePoint was recognized as a Honorable Mention Vendor in the 2021 Gartner Magic Quadrant for Managed Mobility Services, Global.

"WidePoint is honored to be named in the 2021 Gartner Magic Quadrant for Managed Mobility Services, Global," stated Jin Kang, WidePoint's chief executive officer. "As the world's leading research and advisory company, Gartner continues to set the standard for enterprise technology best practices. In our opinion, WidePoint's inclusion in this important research reflects positively on the strength of our managed services offering and the security and scalability of our mobility management platform."

According to the report , "Managed mobility services have evolved into two themes, one on sourcing and logistics, the other centered on full outsourcing and geographic coverage."

Todd Dzyak, president of WidePoint Integrated Solutions Corp., added,"WidePoint offers a complete set of scalable MMS capabilities. WidePoint's secure MMS solutions support noteworthy MMS projects including the U.S. 2020 Decennial Census, and deliver full outsourcing services to the U.S. Department of Homeland Security, Centers for Disease Control and Prevention, and numerous organizations including military, transportation and financial enterprises, among others. We are focused on security as a key differentiator and proud that WidePoint is named in the 2021 Gartner Magic Quadrant for Managed Mobility Services, Global."

Gartner,"Magic Quadrant for Managed Mobility Services, Global," Katja Ruud, Leif-Olof Wallin, Bill Menezes, 6 April 2021.

Note: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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

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Meeting the Demands and Expectations of Enterprises during Their Transition to Teams

Today, many companies are increasingly embracing UC, moving away from traditional telephony. Many of those companies have been migrating to Teams, which alongside some remarkable benefits, has brought along new challenges. Companies switching to Teams demand the continuation of the Voice Analytics they were receiving on their traditional platforms in order to provide them with visibility regarding performance, costs, infrastructure and usage patterns.

Soft-ex offer 30+ years of experience delivering comprehensive billing and analytics solutions, and has plenty of  experience in helping companies navigate the new Teams environment. “A lot of our clients now have their entire workforce working from home, and most state that WFH will remain a large part of their continued employment. Many of these organisations decided to transition to Microsoft Teams, and they have all been experiencing similar pain points,“ shares Eamonn Farrell, Country Sales Manager at Soft-ex.  

“The main thing that those clients are looking for is the continuation of visibility,” explains Farrell. “This is proven by the inclusion of Voice Analytics in most of the RFPs our partners are receiving. Whether it’s in terms of call reporting, costing, inbound and outbound calls, or managing infrastructure – visibility is key for those clients. And knowing that Soft-ex have a proven track record in UC, they turn to us to fill those requirements.”  

Meeting UC Expectations and Providing Self-Serve Visibility

As most companies now have to manage employees remotely, many of them look for reports that center around performance. “This effectively means that stakeholders or department heads within the organisation require understanding and visibility of the customer experience,” says Farrell. “For instance, answered calls versus unanswered calls, call durations, calls to voice mail and hunt group management – these are all reports that the Soft-ex platform provides. Ultimately, companies want to be able to police customer experience better.“

There are also other common pain points among companies transitioning to Teams, all of which the Soft-ex solution caters to. “Our customers still need to understand where their calls are coming from and going to. Current compliance requirements have made it essential for them to understand internal versus external calls, and they need to be able to tariff those calls at the correct rate which leads to achieving cost-effectiveness.“

Another pain point that the Soft-ex solution can help with has to do with infrastructure management and how to make it more cost-effective.  “Our solution offers a unique set of analytics by integrating the Teams and SBC call detail records. This, in turn, allows the production of various reports regarding bandwidth management, channel utilisation, occupancy, peak thresholds and blocking. This information, when combined with the ability to identify devices that haven’t been used in any given timeframe, leads to optimal infrastructure management”  

Another plus of the Soft-ex solution is that it can cater for hybrid or mixed platforms, consolidating all the required data onto one platform. Reports can then be exported to PDF, Excel or CSV, and scheduled to be sent to key stakeholders on a timely basis.

Complementing the Teams Platform

“In a nutshell, we complement the Microsoft Teams platform by delivering granular Voice Analytics such as voice quality, answer and unanswered calls, zero usage, call billing and chargeback,” summarises Farrell. “The icing on the cake is that for enterprises who have been used to receiving Voice Analytics on older platforms, but still have a strong requirement for these self-serve analytics in their new Teams environment, Soft-ex can help with seamlessly providing that transition onto the new platform. This consistent visibility which we provide has proven to be critical for businesses migrating to Teams.”

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WidePoint Awarded More than $86 Million in Task Orders from the U.S. Department of Homeland Security

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 been awarded more than $86 million in task orders through its recently secured indefinite delivery, indefinite quantity (IDIQ) contract with the U.S. Department of Homeland Security (DHS).

In November 2020, WidePoint announced that it had secured the Cellular Wireless Managed Services (CWMS) 2.0 contract from its long-standing customer, DHS. The contract has a $500 million ceiling and contains a one-year base period with four 12-month option periods extending through November 24, 2025. The $86 million in task orders, which started being awarded less than two months after the contract vehicle was put in place, are the first set of task orders to be awarded under the new contract vehicle. They include:

  • A one-year task order, with four twelve-month option periods, for Immigration and Customs Enforcement (ICE), valued at $81.8 million over the potential five-year period
  • A one-year task order for the Cyber Security and Infrastructure Security Agency (CISA), valued at $1.1 million
  • Three separate task orders varying in length from one to five years for Customs and Border Protection (CBP), which, in aggregate, are valued at $1.6 million
  • A three-month task order for DHS headquarters, valued at $2.2 million

"These new task order awards form a solid foundation from which WidePoint can continue to build," said Todd Dzyak, president of WidePoint Integrated Solutions Corp. and the executive leading the DHS CWMS program. "While most of these contracts are logical follow-on awards, the awards from CISA are new as are some of the expansions with ICE and DHS HQ, and they demonstrate that we have opportunities to grow even within our existing relationships. The fact that these task orders came to fruition so quickly after the contract vehicle was put in place indicates that there is currently a large appetite for our solutions, and we therefore may see similarly material orders in the near future."

Jin Kang, WidePoint's chief executive, commented, "Securing the CWMS 2.0 contract with DHS was an important first step to ensuring that DHS and the agencies under its umbrella can continue to benefit from our services uninterrupted. While it is assuring to have confirmation that these important customer relationships remain in good standing, it is also encouraging to see new orders come to fruition, expanding our presence with DHS. We look forward to continuing our work with DHS to better service their needs and to realize a greater portion of this contract's potential value."

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

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WidePoint Reports Full Year and Fourth Quarter 2020 Financial Results

WidePoint Corporation (NYSE American:WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management (IdM) and Digital Billing & Analytics solutions, today reported results for the full year and fourth quarter ended December 31, 2020.

Fourth Quarter 2020 and Recent Operational Highlights:

  • Secured the U.S. Department of Homeland Security's (DHS's) Cellular Wireless Managed Services (CWMS) 2.0 contract, valued at up to $500 million
  • Awarded two new Identity Management contracts, expanding WidePoint's commercial footprint as well as the Company's secure digital certificates into a new U.S. federal agency
  • Number of U.S. Department of Defense secure digital certificates issued increased 17% year-over-year from the fourth quarter of 2020, leading to an increase in high margin Identity Management revenue
  • Soft-Ex, WidePoint's subsidiary, awarded multi-year digital billing and analytics contracts with multiple European enterprises, including Cancom, Zetacom, and Three Ireland
  • Secured more than $10.4 million in contract wins, exercised option periods, and contract extensions during the fourth quarter of 2020, excluding the new contract from DHS
  • Successfully effectuated 1-for-10 reverse stock split on November 6, 2020

Management Commentary

"2020 was the most successful year in WidePoint's history as we set records in each of our financial performance metrics, during a pandemic, while seamlessly managing the largest mobility managed service project in the country," said WidePoint's CEO, Jin Kang. "In 2020, our total revenues increased to $180 million, while our managed services revenues increased 29% year-over-year. The increase in our higher margin managed services business coupled with a minimal increase in our operating expenses demonstrates the leverage we have in our business model. Our ability to efficiently scale drove $2.1 million in net income, excluding our non-cash tax benefit, which is an 830% increase in net income from 2019, as well as a 59% increase in adjusted EBITDA to $5.7 million, which was right at the top end of our expected range.

"At the end of the year, we were awarded the much-anticipated CWMS 2.0 contract from the U.S. Department of Homeland Security, securing our position with one of our most prominent customers. That momentum has carried into 2021 with several wins for both our Identity Management and Digital Billing and Analytics businesses, both of which remain in high demand as we offer effective solutions to many of the challenges large government and commercial enterprises face in the modern, mobile world.

"Our primary objective for 2021 is to profitably grow WidePoint by focusing on our core competencies, by strengthening our technical capabilities, and by enhancing our organization with an accretive acquisition. With a robust client base and over 90% customer retention, demand for our solutions increasing, and a balance sheet with $16 million in cash and no debt, we are confident that we will be able to execute on our strategy in 2021 and continue driving value for our shareholders."

Full Year 2020 Financial Highlights (results compared to the same year-ago period):

  • Revenues increased 77% to $180.3 million
  • Managed Services revenue increased 29% to $42.7 million
  • Gross profit increased 18% to $20.5 million
  • Net income totaled $10.3 million, or $1.20 per diluted share, including an $8.2 million, or $0.95 per diluted share, one-time tax allowance reversal
  • EBITDA, a non-GAAP financial measure, increased 71% to $4.9 million
  • Adjusted EBITDA, a non-GAAP financial measure, increased 59% to $5.7 million

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

  • Revenues increased 1% to $28.4 million
  • Managed Services revenue increased 7% to $8.9 million
  • Gross profit increased 1% to $4.8 million
  • Net income totaled $8.3 million, or $0.94 per diluted share, including an $8.2 million, or $0.93 per diluted share, one-time tax allowance reversal
  • EBITDA, a non-GAAP financial measure, increased 39% to $1.1 million
  • Adjusted EBITDA, a non-GAAP financial measure, increased 30% to $1.3 million

Full Year 2020 Financial Summary is available on www.widepoint.com

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.

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

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WidePoint Secures More than $10.4 Million in Trusted Mobility Management (TM2) Contracts During the Fourth Quarter of 2020

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 $10.4 million in contract awards during the fourth quarter of 2020 in addition to being awarded the U.S. Department of Homeland Security (DHS) Cellular Wireless Managed Services (CWMS) 2.0 Contract.

During the quarter, WidePoint recorded more than 30 contractual actions, including new awards, renewals, contract extensions and exercised option periods. Highlights include:

  • U.S. Coast Guard
  • Fortune 1000 building material products installer and distribution company
  • Global leader in food and support services management
  • Leading U.S. quick-service restaurant chain
  • Global policy think tank
  • A Virginia public school district
  • One of Ireland's leading mobile operators
  • Office of Biometric Identity Management (OBIM)

"In the fourth quarter of 2020, we expanded our TM2 footprint with many of our clients and in numerous industry sectors," said Jin Kang, WidePoint's CEO. "These awards, combined with our work with DHS and the U.S. Census Bureau, indicate that WidePoint's Mobility Managed Services (MMS) are increasingly being adopted as the trusted solution for managing the mobile workforce and landscape. We are already building on that position in 2021 by adding new strategic Identity Management credentialing clients. We look forward to providing additional updates on this momentum throughout the year."

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


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Digital Billing Communications

Soft-ex are an innovative and a global leader in Digital Billing Communications platforms and we are delighted to integrate their solutions into our CCM portfolio to the benefit of our joint DSP clients

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Soft-ex to sponsor and speak at CEM in Telecoms Americas Summit

CX strategies are continually evolving to adapt to the needs of not only today’s customer, but also the customer of tomorrow

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WidePoint Secures More Than $18.7 Million in Contract Awards

WidePoint Corporation (NYSE American: WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications

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WidePoint wins $12M task order by the U.S. Coast Guard

WidePoint Corporation (NYSE American: WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunications.

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Soft-ex to attend upcoming MWC Americas

Soft-ex will be attending MWC Americas, in partnership with CTIA, on Sept 12-14, 2018 in Los Angeles. Ian Sparling, chief executive officer at Soft-ex

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WidePoint Awarded New BPA Task Order by the U.S. Department of Homeland Security Headquarters

WidePoint Corporation (NYSE American: WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunications

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WidePoint Corporation Reports Second Quarter 2018 Results

WidePoint Corporation (NYSE American: WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunication

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WidePoint Corporation Reports Second Quarter 2018 Results

WidePoint Corporation (NYSE American: WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunication

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WidePoint Corporation Reports Second Quarter 2018 Results

WidePoint Corporation (NYSE American: WYY), provider of Trusted Mobility Management (TM2) specializing in Telecommunication

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