WidePoint’s Identity & Access Management Solution Selected to Deliver Cyber, Physical, Managed and Integration Security Services
Fairfax, VA – December 9, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, announced a new contract award in partnership with 22Vets Technologies (“22Vets”). WidePoint will deliver Non-Federal Issuer (“NFI”) for PIV-Interoperable credentials in support of a global energy service company’s new Smart City Internet of Things (“IoT”) program.
Jin Kang, WidePoint’s Chief Executive Officer, stated: “WidePoint and 22Vets are developing numerous opportunities for our technology management solutions. This award marries the strengths of both companies: WidePoint’s innovative Identity & Access Management technology with 22Vets’s IoT expertise and service excellence. This contract pilots what is envisioned to be a nationwide roll-out to create safer communities. We are excited that WidePoint has been recognized as the most secure credential provider and anticipate other awards stemming from this pilot.”
Chris Pedersen, 22Vets Chief Solutions Officer, stated: “22Vets Technologies is committed to providing two public safety initiatives, CommunityFirst and StudentFirst Security programs, which integrate cyber, physical and critical infrastructure security services. 22Vets Technologies is honored to partner with WidePoint on these programs. 22Vets will integrate the smart city initiatives of a global technology solutions integrator with WidePoint’s cybersecurity and PKI offering to deliver on this award.”
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity & Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service, Cloud Security, and Analytics & Billing as a Service (ABaaS). To learn more, visit https://www.widepoint.com
About 22Vets Technologies:
22Vets Technologies is an IT Solution Integrator providing Cyber, Physical, Managed and Integration Security Services. A Service-Disabled Veteran-Owned Small Business, 22Vets Technologies increases Veteran value by donating a majority of earned revenue to the lifesaving programs for our Veterans that 22Vets Technologies has provided for more than a decade through their non-profit partners and the 22Vets Foundation. To learn more, visit https://www.22vetsllc.com
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Company remains on track to hit higher end of annual guidance range
Fairfax, VA – November 13, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, reported results for the third quarter and nine-months ended September 30, 2024.
Third Quarter 2024 and Recent Operational Highlights:
- Won $15.2 million in contract awards and renewals during the third quarter of 2024, of which $1.4 million were IT as a Service contracts
- Awarded two MobileAnchor Digital Credential contracts for the quarter from federal defense and civilian agencies
- Certified and successfully deployed new proprietary MobileAnchor Digital Credential solution into two Federal Agencies
- 29th consecutive quarter of positive Adjusted EBITDA1
- Fourth consecutive quarter ending free cash flow positive
Third Quarter 2024 Financial Highlights:
- Revenues were $34.6 million, a 35% increase from the same quarter last year
- Adjusted EBITDA1, a non-GAAP financial measure, was $574,000, a 149% improvement from the same quarter last year
- Gross margin was 14%, and gross margin excluding carrier services revenue increased to 38% from 35% in the same period last year
- Net loss improved to ($425,200) compared to ($921,100) from the same period last year, or a loss of ($0.04) per diluted share
- Free cash flow1, a non-GAAP financial measure, was $511,000, or an improvement of 120% compared to the same period last year
- As of September 30, 2024, cash was $5.6 million with no bank debt
Nine Months 2024 Financial Highlights:
- Revenues were $104.9 million, a 35% increase from the same quarter last year
- Adjusted EBITDA, a non-GAAP financial measure, was $1.9 million, a 424% increase from the same quarter last year
- Gross margin was 14%, and gross margin excluding carrier services revenue was 33%
- Net loss improved to ($1.6) million or a loss of ($0.17) per diluted share from ($2.7) million in the same period last year
- Free cash flow, a non-GAAP financial measure, was $1.9 million compared to ($590,000) from the same period last year
1 Free cashflow and Adjusted EBITDA are non-GAAP financial measures. See below for the definition of such measures and a reconciliation to GAAP.
Management Commentary
“The third quarter showcased a significant development across our technological capabilities with the successful deployment of our proprietary derived digital credential for mobile devices, MobileAnchor,” said WidePoint’s CEO Jin Kang. “Since its launch in late July, demand for MobileAnchor has been strong, as we closed two new contracts this quarter. MobileAnchor opens an additional high-growth opportunity for WidePoint and will be a key part of our sales and marketing strategy, helping us secure managed services work under the Spiral 4 contract. It also strengthens WidePoint’s positioning for the upcoming CWMS 3.0 recompete and SEWP VI contracts. Our sales and marketing team, PMO model, and ongoing technological innovation continue to drive our robust sales pipeline. As we approach year-end, we are on trending towards the higher end of our annual guidance and are confident in carrying our growth momentum into 2025.”
Third Quarter 2024 Financial Summary
Nine Month 2024 Financial Summary
Conference Call
WidePoint’s management will host the conference call today (November 13, 2024) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 392210
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 Group 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 Wednesday, November 27, 2024.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 51501
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). 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, Adjusted EBITDA, and Free cashflow, 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. A reconciliation of GAAP Net income to EBITDA and Adjusted EBITDA and Free cashflow is provided below:
WidePoint uses EBITDA, Adjusted EBITDA and Free cashflow as supplemental non-GAAP measure of performance. WidePoint defines EBITDA as net income excluding (i) interest expense, (ii) provision for or benefit from income taxes, (iii) depreciation and amortization, and (iv) Impairment charges. Adjusted EBITDA excludes certain amounts included in EBITDA such as stock based compensation expense. WidePoint defined Free cashflow as Adjusted EBITDA less capital expenditures. Management believes that adjustments for certain non-cash or other items and the exclusion of certain pass-through revenue and expenses should enhance stockholders’ ability to evaluate the Company’s performance, as such measures provide additional insights into the factors and trends affecting its business. Therefore, the Company excludes these items from its GAAP financial measures to calculate these unaudited non-GAAP measures. These unaudited non-GAAP measures may not be comparable to similarly titled measures reported by other companies and should be considered in addition to, and not as a substitute for GAAP.
Safe Harbor Statement
This press release contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included herein are forward-looking statements. You can identify these statements by words such as “aim,” “anticipate,” “assume,” “believe,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “positioned,” “predict,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. These statements are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, our ability to sustain profitability and positive cash flows; our ability to win new contracts, execute contract extensions and expand scope of services on existing contracts; our ability to compete with companies that have greater resources than us; our ability to penetrate the commercial sector to expand our business; our ability to identify potential acquisition targets and close such acquisitions; our ability ; our ability to mitigate the impact of inflation; and the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 31, 2024.
The forward-looking statements included herein are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
LIABILITIES AND STOCKHOLDER’S EQUITY
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FAIRFAX, VA / ACCESSWIRE / October 31, 2024 / WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, will hold a conference call on Wednesday, November 13, 2024, at 4:30 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2024. Financial results will be issued in a press release prior to the call.
WidePoint’s management will host the conference call, followed by a question and answer period.
Date: Wednesday, November 13, 2024
Time: 4:30 p.m. ET (1:30 p.m. PT)
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 392210
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 Group 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. ET on the same day through Wednesday, November 27, 2024.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 51501
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
FAIRFAX, VA / ACCESSWIRE / October 30, 2024 / WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, announced that its subsidiary IT Authorities (“ITA”) has been awarded more than $1.7 million in Cisco and Managed IT Services contracts.
Jin Kang, WidePoint’s Chief Executive Officer, stated: “These contracts, including $1.4 million in previously disclosed awards dated Q3 2024, illustrate the value and resilience of ITA. Many of these contracts were awarded while business slowed significantly in Florida due to the hurricanes. We are grateful that our team was not directly impacted and proud that WidePoint has been able to provide tech services and support to companies in the region without interruption.”
The contracts include Managed IT Services and Cisco solutions to:
- Three beverage distributors
- A sports marketing firm
- A child development and education outreach center
- One of Florida’s most popular attractions and research centers
- A data management firm
- A new Cisco Enterprise Agreement valued at $300,000 to be recognized in Q4 2024
Jason Holloway, WidePoint’s Chief Revenue Officer, added: “We are proud of the ITA team for expanding services to numerous important clients and for deepening our partnership with Cisco through Cisco SMARTnet and Meraki solutions.”
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
Fairfax, VA – October 23, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, announced it was awarded approximately $15.2 million in contract awards and renewals during the third quarter of 2024.
Jin Kang, WidePoint’s Chief Executive Officer, stated: “Q3 2024 confirms that each of WidePoint’s solution lines is gaining market momentum. We are proud that our offerings are being recognized by commercial and government enterprises as the preferred technology partner for managing and securing devices, staff and mobile environments. We are excited to see this momentum continuing through Q4 2024 and into 2025.”
Highlights include:
- More than 39 contractual actions resulting in approximately $15.2 million in contract value
- Approximately $3.2 million in commercial contracts
- Approximately $12 million in government contracts
- New orders for WidePoint’s MobileAnchor™ Derived Digital Credentials from federal defense and civilian agencies
- Multi-year managed technology services contracts
- Multiple commercial MMS contracts including leading transportation, insurance and healthcare companies
- A major mobility management program for a new federal civilian agency client went live after months of implementation, marking the success of another strategic partnership
Jason Holloway, WidePoint’s Chief Revenue Officer, stated: “Q3 2024 was particularly noteworthy for WidePoint’s PKI and Identity & Access Management business development initiatives with the launch of MobileAnchor™ Derived Digital Credentials. We are now fielding numerous pilot programs and are seeing increased interest in this next generation Derived Digital Credential offering.”
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM, Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – October 14, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, will be attending the 17th annual LD Micro Main Event on October 28-30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles, California.
WidePoint is scheduled to present on Wednesday, October 30th at 8:00 a.m. Pacific time, with one-on-one meetings to be held throughout the conference. The presentation will also be available for viewing online here. To receive additional information or to schedule a one-on-one meeting, please email [email protected].
This three-day event will feature presentations from the management teams of approximately 150 companies across multiple industries to showcase the next generation of exceptional, innovative companies in the micro-cap space.
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
FAIRFAX, VA / ACCESSWIRE / September 30, 2024 / WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, announced it has been awarded a new one-year agreement for MobileAnchor™ Derived Digital Credentials for a Federal Civilian Agency. WidePoint will provide identity and access management services and support through its recently developed proprietary MobileAnchor™ Derived Digital Credential.
Jin Kang, WidePoint’s Chief Executive Officer, stated: “WidePoint is proud to be awarded this contract for a Federal Civilian Agency, a new client for WidePoint. This award recognizes WidePoint’s MobileAnchor™ as the Derived Digital Credential that provides the highest level of security for mobile digital credentials. It also speaks to the fact that MobileAnchor has applicability within the entire Federal market space.”
Jason Holloway, WidePoint’s Chief Revenue Officer, added: “This allows users to access secure resources using their mobile device, even when a PIV card is not practical. The positive response to MobileAnchor™ is resounding. This award is another illustration that technology experts see the value of MobileAnchor™ and its unique benefits of providing the most secure level of Identity & Access Management.”
The unique benefits of WidePoint’s MobileAnchor™ Derived Digital Credentials include:
1. Enhanced Security:
- Direct Integration: WidePoint’s MobileAnchor™ generates a digital credential directly on the device, can leverage device-specific security features, such as hardware-based secure elements (e.g., TPM or SE) and biometric authentication, ensuring high levels of security.
- Reduced Attack Surface: WidePoint’s MobileAnchor™ direct integration can minimize potential vulnerabilities associated with additional layers or intermediaries.
2. User Convenience:
- Seamless Access: Users can directly access applications and services without needing to navigate through an additional Mobile Device Management (MDM) interface or container, streamlining the user experience.
- Integrated MFA: WidePoint’s MobileAnchor™ can be combined with device biometrics (fingerprint, face recognition) for seamless multi-factor authentication (MFA).
3. Simplified Deployment:
- Less Overhead: Deploying and managing WidePoint’s MobileAnchor™ Derived Credentials directly on the device can be more straightforward compared to managing credentials within an MDM container, reducing administrative overhead.
4. Flexibility and Compatibility:
- Native Support: WidePoint’s MobileAnchor™ can be supported natively by many modern operating systems and applications, ensuring better integration and compatibility.
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity & Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
Fairfax, VA – August 27, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, will be presenting and holding one-on-one meetings at the H.C. Wainwright 26th Annual Global Investment Conference on September 9-11, 2024 at the Lotte New York Palace Hotel in New York City.
WidePoint management is scheduled to present on Wednesday, September 11, 2024, at 1:30 PM Eastern time, with in-person one-one-one meetings to be held throughout the conference.
To receive additional information or to schedule a one-on-one meeting, please email [email protected].
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
Fairfax, VA – August 14, 2024 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, reported results for the second quarter and six-months ended June 30, 2024.
Second Quarter 2024 and Recent Operational Highlights:
- Awarded $254 million contract modification by the U.S. Department of Homeland Security increasing the ceiling of the Cellular Wireless Management Services 2.0 contract from $500 million to $754 million
- Selected by the U.S. Navy as one of seven contractors for the 10-Year, $2.7 billion Spiral 4 contract
- Certified and successfully deployed new proprietary MobileAnchor Digital Credential into a Federal Agency
- 28th consecutive quarter of positive Adjusted EBITDA
- Third consecutive quarter ending free cash flow positive
Second Quarter 2024 Financial Highlights:
-
- Revenues were $36 million, a 35% increase from the same quarter last year
- Adjusted EBITDA, a non-GAAP financial measure, was $811,000, a 479% improvement from the same quarter last year
- Gross margin was 14%, and gross margin excluding carrier services revenue was 31%
- Net loss decreased to $500,000 compared to $842,000 from the same period last year, or a loss of $(0.05) per diluted share
- Free cash flow1, a non-GAAP financial measure, was $800,000, or an improvement of 467% compared to the same period last year
- As of June 30, 2024, cash was $4.0 million with no bank debt
Six Months 2024 Financial Highlights:
- Revenues were $70.2 million, a 35% increase from the same quarter last year
- Adjusted EBITDA, a non-GAAP financial measure, was $1.4 million, a 764% increase from the same quarter last year
- Gross margin was 14%, and gross margin excluding carrier services revenue was 31%
- Net loss decreased to $1.2 million or a loss of $(0.13) per diluted share compared to $1.8 million in the same period last year,
- Free cash flow1, a non-GAAP financial measure, was $1.4 million
1 Free cash flow, a non-GAAP financial measure, is defined as Adjusted EBITDA less capital expenditures
Management Commentary
“We continue to make significant strides in our sequential financial performance and growth, with notable improvements in both our top-line results and adjusted EBITDA,” said WidePoint CEO Jin Kang. “Compared to last year, our position in the capital markets has improved, thanks to the effective execution of our organic growth strategy. Our strategic investments and partnerships, including advancements in our business solutions, certifications and credentials, project management offices, and strategic hires, have all contributed to driving sales growth and profitable projections in 2025. Additionally, we have received initial RFQs for the Spiral 4 contract and are currently setting up administrative arrangements with the Navy and establishing vendor agreements for services and equipment. We maintain a positive outlook for the remainder of the year, buoyed by promising sales developments and technological advancements that will further enhance WidePoint’s ability to offer a diverse range of services and support our sales and marketing goals for years to come.”
Second Quarter 2024 Financial Summary
Six Month 2024 Financial Summary
Conference Call
Wide Point’s management will host the conference call today (August 14, 2024) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 403107
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 Group 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 Wednesday, August 28, 2024.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 50911
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). 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, and Free cashflow, 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. A reconciliation of GAAP Net income to EBITDA and Adjusted EBITDA and Free cashflow is provided below:
WidePoint uses Adjusted EBITDA and Free cashflow as supplemental non-GAAP measure of performance. WidePoint defines EBITDA as net income excluding (i) interest expense, (ii) provision for or benefit from income taxes, (iii) depreciation and amortization, and (iv) Impairment charges. Adjusted EBITDA excludes certain amounts included in EBITDA. WidePoint is not providing a quantitative reconciliation of adjusted EBITDA in reliance on the “unreasonable efforts” exception for forward-looking non-GAAP measures set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated without unreasonable effort and expense. In this regard, WidePoint does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Because certain deductions for non-GAAP exclusions used to calculate projected net income may vary significantly based on actual events, WidePoint is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income at this time. The amounts of these deductions may be material and, therefore, could result in projected GAAP net income being materially less than is indicated by estimated adjusted EBITDA (non-GAAP).
Safe Harbor Statement
This press release contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included herein are forward-looking statements. You can identify these statements by words such as “aim,” “anticipate,” “assume,” “believe,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “positioned,” “predict,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. These statements are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, the impact of supply chain issues; our ability to successfully execute our strategy; our ability to sustain profitability and positive cash flows; our ability to access sufficient financing on acceptable terms given the tightening credit markets due to the current banking environment; our ability to gain market acceptance for our products; our ability to win new contracts, execute contract extensions and expand scope of services on existing contracts; our ability to compete with companies that have greater resources than us; our ability to penetrate the commercial sector to expand our business; our ability to identify potential acquisition targets and close such acquisitions; our ability to successfully integrate acquired businesses with our existing operations; our ability to maintain a sufficient level of inventory necessary to meet our customers demand due to supply shortage and pricing; our ability to retain key personnel; our ability to mitigate the impact of increases in interest rates; the impact of increasingly volatile public equity markets on our market capitalization; the impact and outcome of negotiations around the Federal debt ceiling; our ability to mitigate the impact of inflation; and The risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 31, 2024.
The forward-looking statements included herein are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
LIABILITIES AND STOCKHOLDER’S EQUITY
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FAIRFAX, VA / ACCESSWIRE / August 6, 2024 / WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, is confirmed to present at the 2024 Annual Gateway Conference, which is being held September 4-5, at the Four Seasons Hotel in San Francisco, CA.
WidePoint’s management team is scheduled to present on Wednesday, September 4 at 9:00 a.m. Pacific Time (PT). The presentation will be webcast live and available for replay here. In addition to the presentation, WidePoint’s executives will be available for one-on-one meetings throughout the conference. For additional information, to request an invitation, or to schedule a one-on-one meeting, please email [email protected].
About The Gateway Conference
Set against the backdrop of the Four Seasons Hotel in San Francisco, the Gateway Conference offers a unique stage for both public and private companies to introduce their stories to new audiences. Celebrating 25 years of fostering impactful industry connections, this year’s conference embodies Gateway’s mission of connecting leading growth-stage companies with prospective investors, analysts, partners, and other capital markets constituents.
The event offers attendees an exclusive look at a diverse array of companies across sectors such as technology, cleantech, consumer, industrials, financial services, and healthcare. Through presentations and one-on-one meetings, investors and analysts will have exclusive access to senior company executives from over 100 private and public companies.
About Gateway Group
Gateway is a leading financial communications and digital media advisory firm specializing in assisting emerging growth companies for over 25 years. We work with businesses at various stages of corporate development, from private startups to public enterprises. Our team of experts offers decades of experience in all facets of corporate communications, including investor relations (IR) and public relations (PR), as well as cutting-edge digital media services such as branding & creative, web development, and social media. Gateway clients are industry leaders in technology, consumer, industrials, finance, business services, and more. To learn more about Gateway Group, our offerings, or how we can help meet your communications needs visit gateway-grp.com or connect with us on LinkedIn.
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
Company Contact Information
Gateway Group, Inc., Matt Glover or John Yi
949-574-3860
[email protected]
Connect with
WidePoint
WidePoint’s Solutions are customized to each organization to deliver maximum value, enhanced security and data protection. No matter your industry or enterprise budget, WidePoint has the expertise needed to improve operational efficiency and reduce costs.
Contact WidePoint today to learn more!