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

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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.

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 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

Soft-ex's Ian Lindsay explains to "UC Today" how SBC data makes for smarter billing

‍Most of us know SBCs (Session Border Controllers) for their original use: providing companies using VoIP networks with greater control over the media streams across their network. However, the elaborate data provided by the SBC has another important use: improved reporting and richer billing analytics.

“What we are seeing from our partners – British Telecom, KPN and others – is that customers consider the ability to monitor their call flow essential: How does a call come into the organization? How is it handled? Where does it end up?” shares Ian Lindsay, SVP Sales at Soft-ex.  

“And they also expect to be able to do some cost analysis. Even though in UC internal call costs are generally zero – when it comes to breakout calls, people need to understand how they are being tariffed, and be able to tariff them correctly, so they can track any changes in those costs. Not to mention hybrid networks, combining UC Platforms with traditional voice platforms, where you can’t rely solely on UC analytics.“

This is where the SBC comes in.

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Added Value from SBC Data: Know Thy Network

“We’ve been engaging with the SBC manufacturers – companies like AudioCodes and Ribbon – and are amazed by the amount of data they provide on the call records going through those SBCs“  

“By taking those analytics and combining them with our UC platform analytics, we are able to provide a much richer picture of a company’s network. You go from just looking at your UC platform in terms of overall performance, infrastructure and costs, to looking at much more granular detail on breakout calls and PSTN traffic as well,” says Lindsay.  

This means that you can determine the quality of both internal and outgoing calls, monitor SIP channels, and get a better understanding of how your remote workers are doing: are they coming through via the PSTN or via the internal network? Are they using their mobiles or making calls through the UC network?  

All of those are critical to monitoring costs and eventually saving money.  

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How Does Soft-ex Optimize the Use of SBC Data?

Soft-ex simply looks at the SBC as another adapter – taking the information it provides and using it within the same reports the interactive billing and analytics provider has always been providing to its customers. Effectively, presenting analytics regarding infrastructure, call flow and costs in a self-serve portal.  

“Soft-ex have the ability to report across hybrid platforms and mixed networks. Some of our competitors are not able to do this,“ says Lindsay.

For Soft-ex, their interactive billing and analytics offerings are constantly being innovated to address the dynamic market demands.  

One of Soft-ex’s main USP’s is they do all their development internally.  

“We’re not relying on third-party software – we do everything in–house, and I believe this is one of our main strengths. It gives us agility and flexibility, which is what today’s enterprises require,” Lindsay shares.

“We are in a position to react much faster and much more cost-effectively than most of our competitors. And as the way we now all work and communicate has changed forever – our mission is to continue to constantly innovate and deliver solutions that address these evolving market needs.”

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Soft-ex, a subsidiary of WidePoint Corporation (NYSE American: WYY), a leading provider of Trusted Mobility Management (TM2), announced today that it has been accepted by Microsoft onto their Azure & App Marketplace.

The Microsoft commercial marketplace is a catalog of solutions from global independent software vendor (ISV) partners,  available in more than 100 countries and regions. The Microsoft commercial marketplace has two online stores: Microsoft AppSource and Azure Marketplace. Microsoft AppSource contains business solutions and Azure Marketplace contains IT solutions.  The Soft-ex solution is now launched within each marketplace providing Microsoft Teams customers with UC Analytics & Billing solutions to assist them optimise adoption; customer experience; costs and quality of service.

“Our SAAS platform provides centralised visibility and advanced self-serve analytics for Microsoft customers to help them more effectively manage their unified comms infrastructure, performance and costs”, said Ian Sparling, chief executive officer at Soft-ex. “During these challenging times and the new ways in which we all work and communicate, our newly design-led UX portal will help enterprises to improve collaboration and efficiencies via a ‘single pane of glass’ dashboard. We look forward to a successful relationship with Microsoft and to delivering to their global clients solutions that ensure they get the best out of their Teams environment.”

About Soft-ex

Soft-ex, part of the WidePoint Group, is a leading supplier of SAAS based Digital Billing and Analytics solutions that provide unique online data intelligence for Digital Service Providers and their Enterprise & Consumer customers for fixed, mobile and PABX communications. Headquartered in Ireland, we have customers and partners in over 70 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 widepoint.com.

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Check out the latest interview with Ian Lindsay, SVP Sales at Soft-ex with UC Today on "Bill visibility and drilldown analytics that increase customer retention, reduce costs and help deal with multi-platform environments".

COVID has driven a massive change in the market, taking place in a very short period of time. Both UC providers and enterprises using UC solutions are still trying to adjust to this transformation, and one of the things requiring renewed attention is the bill.

“The bill has never changed so quickly and so much in its entire life,” notes Ian Lindsay, SVP Sales at Soft-ex.

This change triggers a profound need for intelligent billing tools, which allow a better understanding of what companies are actually paying for. Or in one word: visibility.

The Soft-ex solution is all about that visibility – providing interactive billing and analytics to UC providers and carriers, which in turn use it to present the bill to their customers.

You can read the full article here

WidePoint Corporation (NYSE American: WYY), a leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management and Digital Billing & Analytics solutions, announced today that its subsidiary Soft-ex Communications has signed a new contract with Three Ireland (Hutchison) Limited.

Under the agreement, Soft-ex will deliver its latest digital billing platform, Three Analyst, to Three Ireland’s enterprise customers. The platform is designed to provide Three’s customers with complete insight into, and the ability to effectively manage, their unified telecom costs.

“Three Ireland (Hutchison) Limited is a longstanding customer of Soft-ex, and under this new contract, we will be providing them with the very latest design-led digital billing and analytics solution,” said Ian Sparling, chief executive officer at Soft-ex. “Our UX portal will optimize customer online engagement while also delivering internal efficiencies. We look forward to continuing to expand this successful relationship and will continue to introduce a range of new initiatives to ensure that Three Analyst remains the market’s leading solution.”

Commenting for Three Ireland (Hutchison) Limited, Ciara O’Reilly, the head of product, propositions & operations, said, “At Three, one of our key priorities is to deliver innovation and the best customer journey experience. We view Soft-ex’s solution as a core value-added service, a competitive differentiator, and a key component of our digital engagement program. It offers a dynamic user interface for interactive billing and self-serve analytics and delivers an enhanced user experience that meets the changing needs of our business clients.”

Jin Kang, chief executive officer of WidePoint Corporation, stated, “The current global situation has sped up digitalization efforts, increasing the demand for our solutions from commercial enterprises. DSPs (Digital Service Providers) are now intently focused on more effective customer collaboration, and that includes enhancing the billing process. As Soft-ex expands its relationship with Three Ireland (Hutchison) Limited, it increases tangible ROI for them, provides a best-in-class customer engagement platform for their business clients, and enhances WidePoint’s positioning with enterprise clients.”

About Three

Three is one of Ireland’s leading mobile operators with 35% market share and almost 2.4 million customers (as of August 2020). Three’s network is built for data with 99% 4Gcoverage and carries over 68% of all mobile data on its network, more than all other operators combined. Three has recently launched its 5G network which is available to customers in every county.

Three is 100%owned by renowned multinational technology innovator CK Hutchison Holdings (CK Hutchison). Its diverse businesses employ approximately 300,000 people in over 50 countries worldwide.CK Hutchison has five core businesses - ports and related services, retail, infrastructure, energy, and telecommunications.

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About Soft-ex

Soft-ex, part of the WidePoint Group, is a leading supplier of SAAS based Digital Billing and Analytics solutions that provide unique online data intelligence for DSPs and their Enterprise & Consumer customers for fixed, mobile and PABX communications. Headquartered in Ireland, we have customers and partners in over 70 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 widepoint.com.

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

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