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 $42 million in federal contract awards and extensions during the second quarter of 2020.

During the quarter, WidePoint recorded 34 contractual actions, including new contracts, contract renewals, exercised option periods and contract extensions with federal government clients. Highlights include:

• Task orders, contract renewals and extensions with the U.S. Department of Homeland Security Headquarters and numerous DHS Components
• Option contracts for Managed Mobility Services exercised by the Centers for Disease Control and Prevention, National Science Foundation, U.S. Courts, and the U.S. Department of Health and Human Services, among others

“Many agencies are continuing to adopt more mobile workforce practices, and that trend is significantly expanding our work and helping drive growth for WidePoint,” said Jin Kang, WidePoint’s president and CEO. “Additionally, as government agencies grapple with changing budgets, the value of WidePoint’s TM2 solutions has become even more evident. We help our customers save money, which translates to saving jobs. We’re highly encouraged by the traction we’ve gained this year. We look forward to continuing this momentum to maximize resources across the mobile landscape for our current and prospective clients.”

About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading provider of trusted mobility management (TM2) solutions, including telecom management, managed mobility services, identity management, and digital billing and analytics. For more information, visit widepoint.com.

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

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The leading B2B telecoms analyst firm Omnisperience and digital bill communications and analytics specialists Soft-ex have announced new research, which has found 84% of communications service providers (CSPs) are planning to invest in more effective customer communications in the next 24 months.

Throughout the COVID-19 crisis, CSPs played a vital role in keeping both enterprises and households connected. But as life begins to normalise, they are now focused on what comes next. Two key factors are turning their attention to the importance of improving their bill communications:

1.       There’s an urgent requirement to help customers understand and regain control of spending. Business customers need to analyse what they bought during the crisis phase, how useful it has been, and whether they still need it, in order to optimise their spending and get OPEX back under control. Likewise, many consumers and SMEs are facing financial pressure and need to review and revisit their spending, or renegotiate payments. Transforming static bills into interactive, personalised and dynamic digital communications enables CSPs to meet such customer expectations.

2.       Support for innovation. More advanced digitalisation will see 5G and FTTP connections, WiFi 6 and a whole range of exciting new services rolled out. But there’s a sting in the tail of innovation. Customers need to understand their spending on new and unfamiliar services, as well as the effect of more frequent changes to packages. If bills don’t clearly explain this, confused customers will ring call centres for explanations.

“During the COVID-19 crisis, businesses bought whatever they needed to keep the lights on,” says Teresa Cottam, Chief Analyst at Omnisperience. “Now they have to get their OPEX back under control, which means CSPs have a vital role to play in providing critical insight into customers’ ICT spending.”

This is a pressing issue, says Cottam, because legacy bills often aren’t clear or don’t provide all the information customers need. In fact, 75% of respondents to Omnisperience’s research admitted that customers had to resort to contacting overworked call centres because they didn’t understand their current bills.

“CSPs have spent billions transforming their operations, but this key piece of the puzzle – bill communications – has been overlooked despite bills being one of the most important touchpoints with customers,” says Soft-ex’s Grainne Magfhloinn.

The good news is that CSPs are committed to doing better - telling Omnisperience that COVID-19 has not slowed down their transformations. In fact, 75% said it has speeded up digitalisation efforts, with 84% revealing they intend to invest in more effective communication of charges.

“When customers call about their bills, it often turns out the bill is correct but the customer doesn’t understand it,” reveals Cottam. The result is a negative loop of frustrated customers, higher customer care costs and unhappy customer service staff – which had led to high employee churn rates in call centres. Lack of investment in this area has made it hard for CSPs to provide the type of digital experience and level of customer care they aspire to.

But this situation is set to change, because CSPs are well aware of what’s at stake, meaning that in the next 24 months:

·       84% will invest in improving bill communications

·       92% intend to improve or add analytical and reporting capabilities

·       75% will introduce self-service bills

·       83% will improve the look and feel of their bills.

This is great news for customers, CSPs and their staff, according to Cottam. “Better bill communications is the foundation of successful digital service provision and healthy customer relationships. It creates a virtuous circle of happier customers, lower support costs and more fulfilled staff who spend less time fire-fighting and more time being creative and enhancing the experience,” she says.

Magfhloinn agrees: “CSPs have known they need to fix this for a long time, but they’ve had so much to do that it kept slipping off their to-do list. Now they’re facing huge and continual changes in their commercial relationships and they know they cannot delay improving their bill communications any longer”.

“A lean approach to Digital Transformation advocates focusing on where the customer perceives the most value,” adds Cottam. “As CSPs shift from a customer acquisition mindset to one of retention, bill communication becomes vital to building a healthy, engaging dialogue with customers. Our research shows that this is driving investment in this area, enabling CSPs to transform customer experiences and deliver the experiences their customers expect.”

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In a recent article by Teresa Cottam, Chief Analyst at Omnisperience, a leading specialist analyst house and consultancy that engages with B2B digital service providers, she discusses how during these unprecedented times that CSPs who are flexible and deliver tangible benefits to their clients, can become "heroes".

Read an abstract here -

In Omnisperience’s opinion, service providers have everything to gain from Data Donation and very little to lose. But maximising the benefit for both customers and service providers means not just offering the facility, but being able to communicate the value to the customer.

This is a point that Soft-ex’s Grainne Magfhloinn emphasises. “Providing feedback to the customer on the bill about how their donated data has been used is a great way to engage customers. Just as it’s possible to highlight a customer’s own usage, it’s also possible to provide a message explaining how much data customers have donated to good causes, or to highlight someone who’s been helped as a result of the scheme. Bills are means of communication with customers – whether you’re asking, explaining usage, providing information about additional products that would help the customer or, as in this case, adding a value-adding message. In this way, the bill can be transformed into a more proactive and positive experience. “

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You can read the full article here https://omnisperience.com/2020/05/13/sky-points-the-way-to-the-data-highground/

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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 results for the first quarter ended March 31, 2020.

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First Quarter 2020 and Recent Operational Highlights:

● Selected as strategic vendor for SYNNEX Corporation (NYSE: SNX), which may potentially expand sales of TM2

● Received a 12-month, sole source indefinite delivery, indefinite quantity (IDIQ) contract from the U.S. Department of Homeland Security (DHS) for Cellular Wireless Managed Services (CWMS)

● Supported and continuing to expand work with the United States Census 2020 as the U.S. Census Bureau has increased the forecasted number of field devices needed by 20%

● Partnered with KoolSpan to provide end-to-end encryption for phone calls and text messages

● Secured $20 million in new contract wins, exercised option periods, and contract extensions during the first quarter of 2020.

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

● Revenues increased 81% to $39.7 million

● Managed Services revenue increased 52% to $11.5 million

● Gross profit increased 17% to $5.0 million

● Net income totaled $484,000, up 26%

● EBITDA, a non-GAAP financial measure, increased 21% to $1.2 million.

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For more details, please visit www.widepoint.com

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The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under the “Safe Harbor Statement” below.

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Management Commentary

“In the first quarter of 2020, we continued to build upon the momentum we generated last year and produced one of the most successful quarters in our company’s history,” said WidePoint’s CEO, Jin Kang. “From a financial perspective, the quarter was highlighted by an 81% increase in total revenues to $39.7 million, a 52% increase in managed services revenues, positive net income, and a $2.4 million improvement in our cash position. Operationally, we continued our work on the 2020 U.S. Census project, which was the primary cause of the uncharacteristically large increase in our topline, and which should continue contributing to our revenues until the start of 2021. During the quarter, we also secured an aggregate of $20 million in contract awards. Subsequent to the quarter’s end, we secured a 12-month sole source contract with the U.S. Department of Homeland Security, and we announced that we have been selected as a SYNNEX vendor, which could open new doors and help us expand our customer base. “The current pandemic has diminished our ability to accurately predict the timing of events in the nearterm, but our primary goal of simultaneously improving the topline and driving profitability as we help large enterprises navigate the complexities of the mobile landscape remains unchanged. Many of our customers are on the frontlines of battling COVID-19 and are working hard to help us all return to a sense of normalcy. We intend to ensure they have the necessary devices and cost optimization tools in place to continue operating in this challenging environment. “The world may still be fraught with uncertainty, but given the trends in our industry, our resilient customer base, and our solid financial position, we believe we are well positioned to continue successfully pursuing our strategic initiatives to drive growth and profitability in the long-run.”

Conference Call

WidePoint management will hold a conference call today (May 14, 2020) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results. WidePoint President and CEO Jin Kang, Executive Vice President and Chief Sales and Marketing Officer Jason Holloway, and Executive Vice President and CFO Kellie Kim will host the conference call, followed by a question and answer period.

U.S. dial-in number: 844-407-9500

International number: 862-298-0850

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860. The conference call will be broadcast live and available for replay here and via the investor relations section of the company’s website. A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through May 28, 2020.

Toll-free replay number: 877-481-4010

International replay number: 919-882-2331

Replay ID: 34584

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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.

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Non-GAAP Financial Measures

WidePoint uses a variety of operational and financial metrics, including non-GAAP financial measures such as EBITDA, to enable it to analyze its performance and financial condition. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. A reconciliation of GAAP Net income to EBITDA is included on the schedules attached hereto.

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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 received approximately $20.0 million in contract awards and extensions during the first quarter of 2020.

WidePoint recorded 39 contractual actions during the quarter, including new contract wins as well as exercised option periods and contract extensions with current clients. These awards are an amalgamation of contracts from both federal government and commercial clients. Highlights include:

- A new contract for Telecom Lifecycle Management services from the U.S. Immigration and Customs Enforcement

- Option contracts for Managed Mobility Services exercised by the U.S. Army Corps of Engineers, U.S. Coast Guard and U.S. Citizenship and Immigration Services

- Contract extensions with the Office of the Chief Information Officer, U.S. Department of Health and Human Services, and the National Institute of Allergy and Infectious Diseases

- Contract extension for wireline managed services from a leading real estate development corporation based in California

- An Identity Management contract renewal and expansion for E-Authentication from the Federal Highway Administration

Many of the clients mentioned above are on the forefront of dealing with the COVID-19 pandemic.

“Nearly every business, regardless of industry, is facing new working paradigms, and as a result, we’ve seen an increase in demand for our managed services,” said Jin Kang, WidePoint President and Chief Executive Officer. “In particular, we’ve seen many of our clients extend existing contracts while they confront the COVID-19 pandemic. WidePoint remains committed to supporting our government and commercial clients, and we look forward to delivering our vital TM2 solutions to help our customers through this challenging time and beyond.”

Jason Holloway, WidePoint’s Chief Sales & Marketing Officer, added: “The COVID-19 pandemic has changed the way the world works not only today but beyond this crisis. As organizations move more toward a virtual and mobile work environment, strong identity authentication solutions are becoming essential for access and enterprise security. WidePoint’s federally accredited and certified Identity Management solutions are well placed to meet those demands.”

About WidePoint

WidePoint Corporation (NYSE American: WYY) is a leading provider of trusted mobility management (TM2) solutions, including telecom management, managed mobility services, identity management, and digital billing and analytics. For more information, visit widepoint.com.

Investor Relations:

Gateway Investor Relations, Matt Glover or Charlie Schumacher

949-574-3860, WYY@gatewayir.com

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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 results for the fourth quarter and full year ended December 31, 2019.

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Fourth Quarter 2019 and Recent Operational Highlights:

- Received a notice of intent from the Department of Homeland Security (DHS) to solicit and award a sole source IDIQ contract to WidePoint for Cellular Wireless Managed Services (CWMS)

- Supported the address canvassing program, the first major field operation of the 2020 Census, by activating, deploying, tracking, and decommissioning over 60,000 devices and providing training and help desk support to over 60,000 enumerators

- Appointed Kellie Kim, a finance and accounting professional with over 30 years of experience in telecom, technology, and professional services as the new chief financial officer

- Partnered with KoolSpan to provide end-to-end encryption for phone calls and text messages

- Repurchased 864,000 shares of common stock, equivalent to $366,000, as of December 31, 2019

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Fourth Quarter 2019 Financial Highlights (results compared to the same year-ago period):

- Revenues increased 13% to $28.1 million

- Gross profit increased 6% to $4.8 million

- Net loss totaled $34,000

- Adjusted EBITDA, a non-GAAP financial measure, was $972,000, marking the company’s tenth consecutive quarter of positive adjusted EBITDA, and in line with forecast

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Full Year 2019 Financial Highlights (results compared to the same year-ago period):

- Revenues increased 22% to a record $101.7 million

- Gross profit increased 14% to a record $17.4 million

- Net income totaled $226,000

- Adjusted EBITDA totaled $3.6 million

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For more details please visit www.widepoint.com

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