WidePoint Secures More Than $18.7 Million in Contract Awards
McLean, VA – October 9, 2018 – WidePoint Corporation (NYSE American: WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management and Bill Presentment & Analytics solutions, today announced new contract awards valued at $18,786,773.
“WidePoint is beginning the Federal Fiscal Year 2019 with numerous new contracts, follow-on contracts, option years and extensions to provide a comprehensive set of customized mobility management services,” stated Jin Kang, Chief Executive Officer of WidePoint Corporation. “These contractual actions support our efforts to expand WidePoint’s TM2 solutions even further into the federal market.”
Todd Dzyak, President and CEO of WidePoint Integrated Solutions Corporation and WidePoint Solutions Corporation, added: “Since the middle of July, in addition to the previously announced $12 million contract with the U.S. Coast Guard and the $1.67 million contract with the Centers for Disease Control and Prevention, WidePoint has been finalizing contract actions with numerous other customers, including the U.S. Department of Homeland Security, Transportation Security Administration, U.S. Customs and Border Protection, U.S. Department of Defense, National Institute of Allergy and Infectious Diseases, Federal Air Marshal Service, U.S. Department of Health and Human Services, U.S. Immigration and Customs Enforcement, and the National Science Foundation, among others.”
The above-mentioned awards include the following notable details:
- Multiple agencies exercised contract option years, follow-on contracts and/or issued extensions for a total of $10.5 million in recurring revenue;
- Several agencies expanded existing contracts for a total of $2.8 million, including the U.S. Coast Guard adding more than $1.1 million to the $12 million base award announced in August 2018; and
- New task orders and agreements totaling $5.4 million, including a subcontract agreement to provide WidePoint’s Intelligent Telecommunications Management System (ITMS™) to support the U.S. Department of Defense at the Pentagon.
The above contract awards add an additional $20 million in top-line revenues from the period of September 2018 through November 2019.
Jason Holloway, Executive Vice President, Chief Sales and Marketing Officer, commented: “WidePoint secured more than $27 million in contractual actions in Q3 2018 alone. These awards highlight WidePoint’s positioning as the premier provider of Telecommunications Lifecycle Management services dedicated to the public sector. Going forward, our building momentum in the new Federal Fiscal Year underlies a robust pipeline of future opportunities ahead.”
WidePoint Corporation (NYSE American: WYY) is a leading provider of technology-based management solutions, including telecom management, mobile management, access management and identity management. For more information, visit widepoint.com.