Fairfax, VA – June 23, 2025 – WidePoint Corporation (NYSE American: WYY), the federally certified provider of Trusted Mobility Management (TM2) solutions, announced today that it has secured a one-year, $110,000 contract to deliver Device as a Service (DaaS) management and support for a prominent Federal health research agency. This initiative is aimed at streamlining the deployment and lifecycle management of cutting-edge technologies critical to advancing innovative health solutions. This award marks the first of several material DaaS opportunities in the pipeline in collaboration with the Company’s strategic Fortune 500 partner.
WidePoint’s CEO Jin Kang stated, “WidePoint will bring our proven expertise in asset management and full range of DaaS solutions to this agency’s device ecosystem, ensuring that this complex deployment is managed efficiently, securely, and transparently. This contract award builds a strong foundation for WidePoint to provide exceptional value, ongoing support and evolving needs for this agency. This award is also just the tip of the iceberg as we develop additional material DaaS opportunities with our strategic Fortune 500 partner.”
WidePoint’s DaaS solutions address the critical challenges faced by agencies in deploying and managing a large volume of devices across multiple locations. Partnering with WidePoint provides:
- Reliable, scalable support tailored to high-tech environments
- Streamlined procurement and deployment processes
- Help desk support, asset disposition and reporting to ensure seamless integration and operations
- Enhanced security and compliance through secure asset disposition
- Real-time visibility into device status and usage
The contract scope includes sourcing Apple products and supporting hardware components, with all Windows devices and accessories being supplied and staged by a trusted partner before deployment.
Todd Dzyak, WidePoint’s COO, added, “WidePoint’s Intelligent Technology Management System (ITMS) platform is at the core of managing this DaaS program, providing complete oversight, automation and reporting. Our proven approach ensures organizations can focus on their core mission while leveraging reliable, efficient, and secure technology services. WidePoint’s DaaS solution is a game changer for delivering rapid, reliable, and compliant solutions at scale.”
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.
WidePoint Investor Relations:
Gateway Group, Inc., Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – June 16, 2025 – WidePoint Corporation (NYSE American: WYY), the federally certified provider of Trusted Mobility Management (TM2) solutions, announced today that it has secured a three-year deal valued at $1.06 million to deliver External Certification Authority (ECA) Token Certificate credentials to a top-tier, U.S.-based aerospace and defense contractor. This transaction underscores WidePoint’s ongoing commitment to supporting the secure identity management needs of mission-critical national security partners.
“Our ability to support organizations at the forefront of defense and innovation continues to position WidePoint as a trusted identity management provider in the federal and defense sectors,” said Jin Kang, CEO of WidePoint. “We’re proud to enable secure authentication and communications for this valued client as they advance technologies vital to national security.”
The client, a Fortune 100 company with extensive operations in aerospace, defense, and advanced technologies, benefits from WidePoint’s PKI solutions, which are designed to meet the rigorous standards of federal agencies and leading defense integrators.
Jason Holloway, Chief Revenue Officer at WidePoint, commented, “We are pleased to be one of two providers authorized by the U.S. Department of Defense to provide our certified ECA Token Certificate, a secure digital credential that verifies and authenticates tokens within the ECA ecosystem. This certificate enhances trust by ensuring the integrity and legitimacy of tokens used for secure transactions and communications. It leverages advanced encryption standards to provide a reliable and scalable solution for organizations seeking robust digital certification. Caroline Godfrey, WidePoint Cyber Security Corporation’s Chief Security Officer, will continue to work with this client to promote MobileAnchor in order to move to the next phase of our Derived Credential Solution.”
As part of their supply chain security initiatives, this Fortune 100 defense contractor requires that all shipments from foreign manufacturers, including drop shipments to sub-tier suppliers or end customers, must be transported through validated transportation companies participating in recognized supply chain security programs. These programs are designed to protect the supply chain from the introduction of terrorist contraband such as weapons, explosives, biological, nuclear, or chemical agents. Shippers are advised to coordinate with procurement representatives to ensure compliance with validated transport providers, aiming to prevent the introduction of such contraband into shipments.
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.
WidePoint Investor Relations:
Gateway Group, Inc., Matt Glover or John Yi
949-574-3860
[email protected]
Partnership combines cybersecurity, EdgeAI, and broadcast broadband to create a dome of defense for mission-critical applications and connected environments across smart cities, defense, and federal networks.
Washington, D.C. / Boston, MA — May 19, 2025 — BroadSat Technologies LLC, a leader in AI-powered broadcast and broadband infrastructure, today announced a strategic partnership with WidePoint Corporation (NYSE American: WYY), a premier provider of Technology Management, Mobility as a Service, and best in class cybersecurity solutions. The partnership aims to deliver end-to-end secure connectivity, computing, and content distribution to the edge – fortifying Smart Cities and federal agencies with a powerful “dome of defense” for all connected applications and devices.
This partnership will integrate BroadSat’s Sure Broadcast platform – leveraging ATSC 3.0, 5G Broadcast, and EdgeAI – with WidePoint’s cybersecurity portfolio, including Identity and Access Management (IAM), IT-as-a-Service (ITaaS), and cloud-based security communication services. The result: a resilient, intelligent, and secure edge network for powering smart infrastructure, defense communications, and mission-critical services.
“Partnering with BroadSat Technologies reflects WidePoint’s commitment to delivering holistic cybersecurity and connectivity solutions to the edge,” said Jason Holloway, President and Chief Revenue Officer at WidePoint. “Together, we’re building a cyber-secure, AI-enhanced ecosystem that protects every node – from federal networks to street-level sensors – through a unified dome of defense.”
The joint solution stack enables intelligent automation, real-time data analytics, and secure broadcast-grade content delivery – all while ensuring zero-trust access, endpoint protection, and continuous monitoring across devices and networks. It will be applied to smart transportation, public safety, federal continuity systems, and defense base connectivity.
“This is more than a technology integration – it’s a mission to secure America’s digital front lines,” said Aby Alexander, President & CEO of BroadSat Technologies. “By merging BroadSat’s broadcast internet and edge intelligence with WidePoint’s cybersecurity pedigree, we are creating the infrastructure for secure, intelligent, and always-on digital services across the public and defense sectors.”
As agencies prepare for a future shaped by autonomous systems, IoT expansion, and AI-powered governance, this partnership ensures data, devices, and users are protected at scale and at the speed of need.
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 delivers Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, IT-as-a-Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). Learn more at www.widepoint.com.
About BroadSat Technologies
BroadSat Technologies LLC is an AI-broadcast and broadband infrastructure company enabling secure, resilient connectivity to the edge. Using ATSC 3.0, 5G Broadcast, TV White Space, and EdgeAI, BroadSat powers Smart Cities, precision agriculture, and secure mission-critical applications with its Sure Broadcast platform. Learn more at www.broadsattechnologies.com.
Media Contact:WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Contact Name: Alicia Martinez (Director of Communications)
BroadSat Technologies
617-861-3686 EXT 712
[email protected]
Fairfax, VA – May 15, 2025 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, reported results for the first quarter ended March 31, 2025.
First Quarter 2025 and Recent Operational Highlights:
- 31st consecutive quarter of positive Adjusted EBITDA
- 6th consecutive quarter of positive free cash flow
- Awarded three Task Orders under the Spiral 4 Contract Vehicle, including a $2.5 million Task Order with a combat support agency within the U.S. Department of Defense
- Achieved FedRAMP Authorized Status for its Intelligent Technology Management Systems (ITMS)
- Launched M365 Analyzer that identifies actionable savings for Microsoft software license inventory
- $27.6 million contract awards in Q1 2025, of which $26.1 million was from Federal agencies and $1.5 million from commercial organizations
- $268 million contract backlog as of March 31, 2025
First Quarter 2025 Financial Highlights:
- Revenues were $34.2 million, a slight increase from the same quarter last year
- Gross margin was 14%, and gross margin excluding carrier services revenue was 40%
- Net loss was $724,100 or a loss of $(0.08) per share
- Adjusted EBITDA1, a non-GAAP financial measure, was $92,400
- Free cash flow1, a non-GAAP financial measure, was $65,700
- As of March 31, 2025, unrestricted cash was $3.7 million with no bank debt
1 Free cash flow and Adjusted EBITDA are non-GAAP financial measures. See below for the definition of such measures and a reconciliation to GAAP.
Management Commentary
WidePoint CEO Jin Kang commented: “Our long awaited FedRAMP Authorization for ITMS and momentum across the Spiral 4 contract vehicle were two major developments that highlighted this past quarter. ITMS is now available on the FedRAMP marketplace, which opens up the solution to federal agencies across a range of businesses that was previously out of our reach, while reinforcing our commitment to offering the most secure solutions for our customers. In addition to the previously announced $2.5 million task order, we were awarded two more task orders under Spiral 4. We also have submitted several responses for RFQs adding to our potential new task orders to our sales pipeline. With Spiral 3 contracts set to expire at the end of May, we remain optimistic about seeing further activity under the new contract vehicle.”
“During the quarter, we made a one-time out-of-period accounting adjustment to correct an error related to the timing of revenue recognition on certain reselling contracts, which inevitably reduced revenue by approximately $2.7 million and cost of revenues by approximately $2.5 million. We determined after a thorough evaluation that these adjustments are not material to previous periods reported, and are not expected to materially affect our full year results, and do not reflect any change in business fundamentals, cash flows, or contract performance. Looking at the rest of the year, we remain focused on our four priorities of the year: deepening strategic relationships with existing partners while activating pursuing new partnerships, preparing for the upcoming DHS CWMS 3.0 recompete, commercialization of our newly developed solutions in 2024, and delivering positive earnings per share for the full year 2025.”
Fiscal Year 2025 Guidance
WidePoint is providing the following guidance for fiscal year 2025:
- Revenue between $154 million and $163 million
- Adjusted EBITDA between $2.8 million and $3 million
- Free Cash Flow between $2.4 million and $2.6 million
- Goal of positive earnings per share in 2025
First Quarter 2025 Financial Summary
Conference Call
WidePoint’s management will host the conference call today (May 15, 2025) 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: 299364
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 Thursday, May 29, 2025.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 52402
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, 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 Form 10-Q for the quarter ended March 31, 2025 filed with the SEC on May 15, 2025.
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
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FAIRFAX, VA / ACCESSWIRE / May 1, 2025 / WidePoint Corporation (NYSE American: WYY), an innovative leader in enterprise cybersecurity and mobile technology, will hold a conference call on Thursday, May 15, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025. 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: Thursday, May 15, 2025
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: 299364
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 Thursday, May 29, 2025.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 52402
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 – April 16, 2025 – WidePoint Corporation (NYSE American: WYY), the innovative enterprise cyber security and mobile technology provider, reported results for the fourth quarter and full year ended December 31, 2024.
Fourth Quarter 2024 and Recent Operational Highlights:
- Exceeded revenue, adjusted EBITDA, and free cashflow guidance
- 30th consecutive quarter of positive Adjusted EBITDA
- 5th consecutive quarter of positive free cash flow
- Awarded $2.5 million Task Order under the Spiral 4 Contract Vehicle
- Achieved FedRAMP Authorized Status for its Intelligent Technology Management System
- Launched M365 Analyzer that identifies actionable savings for Microsoft software license inventory
- Partnered with 22Vets Technologies for Smart City Internet of Things Program
- $51.2 million contract awards in 2024, of which $45.6 million was from Federal agencies and $5.6 million from commercial organizations
- $290 million contract backlog as of December 31, 2024
Fourth Quarter 2024 Financial Highlights:
- Revenues were $37.7 million, a 33% increase from the same quarter last year
- Gross margin was 13%, and gross margin excluding carrier services revenue was 36%
- Adjusted EBITDA1, a non-GAAP financial measure, was $631,000, a 49% improvement from the same quarter last year
- Net loss improved to $356,000 or a loss of $(0.04) per share, compared to $1.3 million or a loss of $(0.15) per share from the same period last year,
- Free cash flow1, a non-GAAP financial measure, was $593,000 or an improvement of 92% compared to the same period last year
Full Year 2024 Financial Highlights:
- Revenues were $142.6 million, a 35% increase from last year
- Gross margin was 13%, and gross margin excluding carrier services revenue was 34%
- Adjusted EBITDA, a non-GAAP financial measure, was $2.6 million, a 229% increase from last year
- Net loss improved to $1.9 million or a loss of $(0.21) per share, from a loss of $4.0 million or a loss of $(0.46) per share last year
- Free cash flow, a non-GAAP financial measure, was $2.5 million compared to $(300,000) last year
- As of December 31, 2024, our unrestricted cash was $6.8 million with no bank debt
1 Free cash flow and Adjusted EBITDA are non-GAAP financial measures. See below for the definition of such measures and a reconciliation to GAAP.
Management Commentary
WidePoint CEO Jin Kang commented: “Our 2024 results were a byproduct of surpassing the three key goals we set for the year: continued investments in sales and marketing, operational execution, and technical advancements. We continue to execute across all facets of our business lines, as demonstrated not only by exceeding all three of our guidance metrics of (revenue, adjusted EBITDA and free cashflow), but also by the notable improvements in our bottom line from 2022 to 2024. The positive trend in our financial performance has positioned us well to achieve our goal of positive earnings per share for the full year 2025. A major highlight of the year was our technical advancements. We successfully developed our MobileAnchor and M365 Analyzer solution sets and, most notably, achieved the long-awaited FedRAMP Authorization Status. This milestone will be pivotal in unlocking new opportunities that were previously beyond our reach, in addition to positioning us for future growth and outpacing our competitors.”
“Four months into 2025, we have set the following goals to drive further improvements in WidePoint’s financial performance and enhance returns for our valued shareholders. First, we aim to establish strategic partnerships to leverage shared client networks, expand our customer base, and grow our contract backlog. While still in the early stages, we are actively engaged in serious discussions with multiple parties regarding MobileAnchor, our Device-as-a-Service program, and offering solutions for cost savings to the new presidential administration. Second, we continue to prepare for the upcoming DHS CWMS 3.0 recompete, where we believe we are in a strong position to succeed. Our authorization to operate from DHS and now our FedRAMP Authorized status, proven track record working with the agency, seamless system integration with DHS infrastructure, and industry certifications and accreditations all places us ahead of our competition for this opportunity. Third, we are focused on the commercialization of our newly developed MobileAnchor and M365 Analyzer. Through our upcoming partnership program and additional investments, we believe these solutions will gain significant traction throughout 2025. Lastly, our goal is to achieve positive earnings per share for the year, an important milestone for our company. We look forward to continued growth and successful execution across all areas of our business throughout 2025.”
Fourth Quarter 2024 Financial Summary
| (in millions, except per share amounts) | Dec. 31, 2024 | Dec. 31, 2023 |
| (unaudited) | ||
| Revenues |
$37.7
|
$28.3
|
| Gross Profit |
4.8
|
4.0
|
| Gross Profit % |
13%
|
14%
|
| Operating Expenses |
5.1
|
5.3
|
| Loss from Operations |
(0.3)
|
(1.3)
|
| Loss per Share, Basic & Diluted |
$(0.04)
|
$(0.15)
|
| EBITDA |
0.4
|
(0.2)
|
| Adjusted EBITDA |
0.6
|
0.4
|
| Free Cashflow |
0.6
|
0.3
|
Full Year 2024 Financial Summary
| (in millions, except per share amounts) | Dec. 31, 2024 | Dec. 31, 2023 |
| (unaudited) | ||
| Revenues |
$142.6
|
$106.0 |
| Gross Profit |
19.0
|
15.6 |
| Gross Profit % |
13%
|
15% |
| Operating Expenses |
20.9
|
19.3 |
| Loss from Operations |
(1.9)
|
(4.0) |
| Loss per Share, Basic & Diluted |
$(0.21)
|
$(0.46) |
| EBITDA |
1.4
|
(0.4) |
| Adjusted EBITDA | 2.6 |
0.8
|
| Free Cashflow |
2.5
|
(0.3)
|
Conference Call
WidePoint’s management will host the conference call today (April 16, 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: 333097
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, April 30, 2025.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 52176
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, 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, 2024 filed with the SEC on March 26, 2025.
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 uses Adjusted EBITDA 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, 2022 filed with the SEC on March 31, 2023.
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.
Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
LIABILITIES AND STOCKHOLDERS’ EQUITY
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FAIRFAX, VA / ACCESSWIRE / April 11, 2025 / WidePoint Corporation (NYSE American: WYY), an innovative leader in enterprise cybersecurity and mobile technology, will hold a conference call on Wednesday, April 16, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2024. Financial results will be issued in a press release prior to the call.
WidePoint management will host the conference call, followed by a question and answer period.
Date: Wednesday, April 16, 2025
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: 333097
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, April 30, 2025.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 52176
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
This delay is not related to any material concerns regarding the company’s financial condition or operations
FAIRFAX, VA / ACCESSWIRE / March 25, 2025 / WidePoint Corporation (NYSE American: WYY), an innovative leader in enterprise cybersecurity and mobile technology, is postponing the conference call to discuss its financial results for the fourth quarter and full year ended December 31, 2024, originally scheduled for Wednesday, March 26, 2025.
The postponement is due to a subsequent event which occurred in March 2025 and impacted the accounting treatment of WidePoint’s financial results. WidePoint needs additional time to assess the impact on its financials, and accordingly, has delayed its financial statement preparation and completion of the audit for 2024. The Company plans to file its Form 10-K timely and intends on rescheduling the fourth quarter and full year 2024 conference call.
The Company will issue a press release announcing the new date and time for the postponed earnings call upon the completion of the audit.
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 / March 19, 2025 / WidePoint Corporation (NYSE American: WYY), an innovative leader in enterprise cybersecurity and mobile technology, today announced a new Task Order award under the Spiral 4 contract vehicle from a combat support agency within the U.S. Department of Defense (DoD). The Task Order has an annual value of approximately $2.5 million and a period of performance of one base year with nine one-year option periods. The Task Order has a potential value of $25 million if all options are exercised. Through this Task Order, WidePoint will support the procurement and management of wireless devices that meet standard functionality requirements through its Managed Mobility Solutions. The service will extend to users located in all 50 U.S. states and 90 international countries, ensuring seamless connectivity and operational efficiency for personnel deployed in diverse environments.
WidePoint CEO Jin Kang, stated: “We are honored to be awarded this Task Order, WidePoint’s first under the Spiral 4 contract. Our services will enhance the operational capabilities of our armed forces. This award illustrates WidePoint’s expertise in providing tailored Managed Mobility Solutions through one of the most pivotal contract vehicles in the federal space.”
WidePoint’s Chief Operating Officer, Todd Dzyak, stated: “Spiral 4 provides a best value solution, and the required cybersecurity profiles, for the procurement and management of unclassified wireless mobility telecommunications services and devices. This Task Order exemplifies WidePoint’s dedication to innovation and excellence in support of the U.S. military’s mission. By ensuring access to reliable wireless devices, we are empowering our service members to perform their duties effectively, regardless of their location. We take pride in being a trusted partner to the DoD and are committed to delivering superior service through the Spiral 4 contract vehicle.”
Kang added, “We look forward to working collaboratively with the combat support agency to deliver high-quality services and solutions that empower our service members with an additional focus on security, efficiency and minimizing cost.”
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 / March 12, 2025 / WidePoint Corporation (NYSE American: WYY), an innovative leader in enterprise cybersecurity and mobile technology, will hold a conference call on Wednesday, March 26, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 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, March 26, 2025
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: 333097
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, April 9, 2025.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 52176
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
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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!