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Would this have helped? Does it use the TPM?
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FREQUENTLY ASKED QUESTIONS
I just hope they have a good password!!
INTRODUCING:
A Virtual Urgent Care & Healthcare Management App
Featuring Telehealth by:
Learn More
Email To Enroll
We are pleased to announce that through MetAlert, Inc. you now have access to telehealth services, normally only accessible through group or employer enrollment! This medical concierge and virtual urgent care gives you tools to stay healthy and allows you to reach a medical provider within minutes.
?
Illness or injury can strike suddenly.
Telehealth gives you access to medical help 24/7
HFH Go virtual healthcare assistant app now features real-time telehealth access via Walmart Health Virtual Care (WHVC).
?$7.99 per month
Access to the “HFH Go” app and
Telehealth services includes all the health care management features of HFH Go.
$15.00 per consultation
Only as needed. Order real-time telehealth consultations with the WHVC medical providers.
Learn More
Email To Enroll
?When you have a health issue, log into your HFH Go Mobile App to search for answers in the expansive WellBe medical info desk. All searches are private and confidential so you can search confidently.
Have a large deductible? Save $$ with only $15 Virtual Urgent Care Visits.
Difficult to get an in-person appointment? Tired of the long waits? Save time on driving and waiting rooms with immediate answers from home.
Learn More
Email To Enroll
How does it work? Watch a full, 5 minute walk through of the HFH Go app, from account set up, to capabilities and features. Setting up your account and personal health care dashboard is easier than you think!
--------------------------------------------------------
Or maybe they are using a little TPM...
INTRODUCING:
A Virtual Urgent Care & Healthcare Management App
Featuring Telehealth by:
Learn More
Email To Enroll
We are pleased to announce that through MetAlert, Inc. you now have access to telehealth services, normally only accessible through group or employer enrollment! This medical concierge and virtual urgent care gives you tools to stay healthy and allows you to reach a medical provider within minutes.
?
Illness or injury can strike suddenly.
Telehealth gives you access to medical help 24/7
HFH Go virtual healthcare assistant app now features real-time telehealth access via Walmart Health Virtual Care (WHVC).
?$7.99 per month
Access to the “HFH Go” app and
Telehealth services includes all the health care management features of HFH Go.
$15.00 per consultation
Only as needed. Order real-time telehealth consultations with the WHVC medical providers.
Learn More
Email To Enroll
?When you have a health issue, log into your HFH Go Mobile App to search for answers in the expansive WellBe medical info desk. All searches are private and confidential so you can search confidently.
Have a large deductible? Save $$ with only $15 Virtual Urgent Care Visits.
Difficult to get an in-person appointment? Tired of the long waits? Save time on driving and waiting rooms with immediate answers from home.
Learn More
Email To Enroll
How does it work? Watch a full, 5 minute walk through of the HFH Go app, from account set up, to capabilities and features. Setting up your account and personal health care dashboard is easier than you think!
When Wave finally goes live,
companies around the world could be a little peeved about the time it took to get this amazing corp running! I am past 'peeved' - it's more dumbfoundedness!!
It is the government's job to protect it's citizens.
Gun deaths in the US in 2022 was 48,117, according to provisional CDC data.
The gun is a part of everyday life, in the US so is it possible to reduce the death rate by, one day, building the MLRT sensor into all firearms and not even having to attach the sensor to the outside of the gun? Theft could be prevented by making the gun not work if the sensor is tampered with. That would give people full control over their guns.
Regarding the protection of other valuables, could the sensor be a natural edition to the make-up of the product reducing theft?
JMHO.
Top academics urge Rishi Sunak not to buckle under pressure from Big Tech to 'escape' regulation
https://www.dailymail.co.uk/news/article-12659755/Top-academics-urge-Rishi-Sunak-not-buckle-pressure-Big-Tech-escape-regulation.html
Rishi Sunak must not buckle under intense lobbying from the world's biggest online giants to help them 'escape' vital regulation, a group of leading economists have warned.
The five eminent academics, whose government-commissioned report formed the basis of a new Bill to rein in Big Tech, have written a powerful letter to the Prime Minister urging him not to water it down.
The letter accused Big Tech platforms of having 'only their own interests at heart' and reminded Mr Sunak of his 'personal responsibility' towards both British businesses and consumers.
The economists fear Mr Sunak is giving 'serious consideration' to changing the appeals system within the Digital Markets, Competition and Consumers Bill following 'extensive lobbying' from platforms such as Google, Meta and Apple.
Doing so would effectively make the regulator redundant as it would entangle its every move in 'a web of tactical and adversarial litigation', they believe.
The intervention follows warnings by news publishers, business leaders, consumer rights groups and cross-party peers that changing the appeals system would undermine the Bill's ultimate aim of making digital markets fairer and more competitive.
The letter was co-written by Professor Jason Furman, a US economist from Harvard University commissioned by the government in 2018 to examine the impact of Big Tech on British businesses and consumers. It was co-signed by four other academics who contributed to the report.
The panel's findings, published the following year, concluded that the world's biggest platforms were using their dominance to stifle competition and boost profits –and led to the Digital Markets Bill being introduced to Parliament in April.
Under the legislation, a new watchdog called the Digital Markets Unit will be empowered to impose huge fines on online firms – such as Google, Meta, and Apple – to prevent customers and companies from being treated unfairly.
It will also ensure that tech giants pay media outlets fairly for using their stories and stop them from using their global market dominance to stifle competition over digital advertising.
In the letter, Professor Furman and his co-signatories praised the 'impressive' draft legislation, which they said was 'prudently designed' and would boost the economy.
But they raised grave concerns over reports Mr Sunak was being 'extensively' lobbied by Big Tech and was giving 'serious consideration' to watering down the appeals system within the Bill.
Currently, any decision made by the DMU can be challenged through a judicial review, a quick and cheap process that allows the offending company to question the decision on a point of law.
Tech platforms, however, have heavily lobbied the Prime Minister to change this to a merits-based system, allowing them to appeal on whether the decision was right or wrong.
The letter warns this would 'allow Big Tech platforms to escape effective regulation by entangling the regulator in a web of tactical and adversarial litigation and delay'.
'What we need is a UK regulator that can get ahead of competition problems in digital markets and work participatively and nimbly with all interested parties to find effective and proportionate solutions', it added.
'In advocating these changes, the Big Tech platforms have only their own interests at heart.
'The UK's success as a dynamic centre for tech investment, including the coming wave of AI innovation, will be harmed by the kinds of change to the draft legislation that you are considering. In doing so, we urge you to be mindful of your personal responsibility for the outcome for UK businesses and consumers.'
This passage says it all -
"These findings come a year after a report from the Government Accountability Office concluded that 14 agencies had failed to incorporate privacy into their risk management strategies. Federal agencies’ delays in meeting these standards illustrate both the complexity of managing privacy concerns among an ever-growing federal IT bureaucracy and a lack of consequences for failing to implement them."
So you see, it's too complex!
Wave has the answer to revolutionise the computer world and protect many. NASA uses WidePoint's TM2, I believe, and states use their SaaS. Maybe the world will start using Wave's solutions by next century.
Thanks, Genz2, for all the work that you do for this board. Much appreciated.
Could MLRT set up a system
where pupil's/family's guns had to be registered with their school so that the school could see if those guns had been moved and where they were? IMO.
Unpacking the Alarming Rise in School Gun Incidents and MetAlert’s Contribution to Safety
https://metalert.com/unpacking-the-alarming-rise-in-school-gun-incidents-and-metalerts-contribution-to-safety/
"As a society, we must collectively address the concerning rise in guns on school campuses. The safety and well-being of our children are at stake. MetAlert’s GunAlert® is one step towards creating a safer school environment, but it requires a comprehensive approach that includes communication, reporting, and the fostering of trust."
How will MLRT achieve safer schools?
The Wave VSC
is an essential part of the Wave system and increases security -
"Virtual smart cards provide equal security to proven physical smart card security schemes,
utilizing certificates to implement strong two-factor authentication. By using the Trusted
Platform Module (TPM) that is already built in to over 550 million devices in the field,
an organization starts with a silicon root of trust that can be extended with further use
cases. VSCs and their associated certificates are flexible enough to address not only logon
but also application-specific security, integrating with existing PKI schemes. Inclusion of
virtual smart cards into a comprehensive security regime will significantly enhance your
organizational security posture at a fraction of the cost of other alternatives."
Why do we need Wave?
https://www.bleepingcomputer.com/news/microsoft/microsoft-warns-of-incorrect-bitlocker-encryption-errors/
Gun Range will become a sales outlet for Level 2
and with it's online sales arm could expand sales, rapidly. When other outlets see this, sales might increase, rapidly.
Note the word "might"!
Thank you for your comments.
The Infineon post may be telling us that when we start using the TPM, it will be beneficial throughout the whole chain of computer use and, therefore, will form an important part of our online lives. I did say 'when'!
One point - I have an ancient Wave link and, recently, it was being worked on so is this a sign of future use?
Infineon have recently posted a PR highlighting 'OPTIGA' and it is nothing significant - except that it deals with their TPM.
Circular Economy, a Path to a Sustainable Ecosystem: Infineon's Security Solutions Support the Industry, the Consumer, and the Environment Alike
From Yahoo.
MUNICH, September 27, 2023--(BUSINESS WIRE)--Global resources are becoming increasingly scarce and responsible use of them is crucial. With over 57.4 million tons of electronic waste produced annually (2021) at a net worth of nearly $60 billion1, e-waste constitutes one of the largest waste streams. A circular economy helps tackling these challenges by extending the lifecycle of products, keeping resources circulating in the value chain for as long as possible and saving resources and energy. Providing reliable spare parts for electronic devices plays a major role in this concept. Authentication solutions like Infineon Technologies AG’s (FSE: IFX / OTCQX: IFNNY) OPTIGA™ Authenticate product family support the verification of spare parts as well as original products and contribute to a trustworthy, sustainable economic approach.
A circular approach to electronic products is defined by the 6R concept: Reduce, reliability, repair, reuse, refurbish and recycle.
These principles guide Infineon’s waste management for instance by reusing solvents in the manufacturing process. Infineon's product design also aims to reduce resource consumption and hazardous waste and replace critical substances. Infineon also delivers products to customers that help them innovate and create more sustainable solutions.
Sustainable and reliable – thanks to OPTIGA™ Authenticate
The Right to Repair regulation, for example, is a central part of national sustainability programs worldwide. Infineon security solutions such as the OPTIGA Authenticate family support manufacturing companies in efficiently, cost-sensitively and purposefully addressing some of the key challenges of these new regulations.
"The OPTIGA Authenticate product family allows authentication of devices, the verification of spare parts and of the genuineness of original products. This enables product safety for end users and helps manufacturing companies meet quality and performance standards for electronic devices," explains Josef Haid, Distinguished Engineer Security System Architectures Infineon Technologies. "Authenticators also create more security and transparency for consumers, since they can trust the authenticity and quality of devices and spare parts. Moreover, due to the increased demand for spare parts, it opens up a new market for the industry, covers potential warranty claims, and prevents counterfeiting at the same time."
The OPTIGA Authenticate product family can be used in a wide range of replaceable components for example within a smartphone ecosystem such as batteries, displays and camera modules as well as power adapters, wireless chargers, and headphones. In addition, OPTIGA Authenticate security solutions can be used in other electronic devices such as power tools, notebooks, light electric vehicles, multicopters, VR/AR applications and many more. The mechanism is very simple: The OPTIGA Authenticate S security chip is integrated in a product, for example, the battery (client) of an e-scooter (host). This allows the host and client to communicate with one another and authenticate themselves, letting the host verify that the battery is original or that it conforms to certain standards.
Authentication solutions such as the OPTIGA Authenticate product family are an easy and cost-efficient way for manufacturers to help meet legal requirements and protect their brand value from potential counterfeits. With the OPTIGA Authenticate product family, Infineon takes another step towards a circular economy, enabling its customers to build more sustainable solutions.
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).
MetAlert Setting the Future of GPS Wearable Tech Corporate Summary Update
From Yahoo
LOS ANGELES CALIFORNIA, Sept. 22, 2023 (GLOBE NEWSWIRE) -- In an era of unprecedented technological growth, MetAlert, Inc. (OTC: MLRT) (“the Company”), a pioneer in GPS wearable technology and global provider in the field of human and asset tracking and recovery systems, releases a transformative corporate update.
Noteworthy Achievements:
Successful acquisition of Level 2 Security
Launch of cutting-edge SmartSole plus
Sealed OEM partnership for SmartSole in Germany
Introduction of Handsfree Health
Secured new European Patent
Embracing the future with AI-driven Healthcare
A word from the helm by Patrick Bertagna, MetAlert, CEO:
"With our recent acquisition of Level 2 Security, we've broadened our product spectrum and opened doors to new and expansive markets. We’re pleased to report the transition and integration is moving ahead of schedule and both teams are collaborating with speed and efficiency. This journey wasn't without its challenges. We had intentions to acquire TrackTek early this year but faced regulatory constraints. However, our commitment to increasing shareholder value remained unwavering, leading to this milestone acquisition. Our strategy isn’t just about adding products, it’s about bringing groundbreaking solutions that cater to contemporary needs.”
Below are some key bullet points summarizing the value proposition of the acquisition:
Expanding our product offerings with more consumer-centric and pricing appeal.
Expanding MLRT's target market beyond humans to valuable asset tracking.
Level 2's tech detects unauthorized movement/use of firearms and other mobile assets like motorcycles, boats, bikes, ATV’s and more.
Acquisition included - IP, ready to sell inventory, cash on hand, apps, digital assets, Amazon store, and deep insights into the gun safety market, with no debt or liabilities.
Anticipation of increased product sales, subscriptions, and improved financials this fiscal year.
Technology enables real-time notifications if an asset is moved or stolen, weaving us into the extremely important national gun safety conversation and rising crime concerns.
MLRT plans immediate marketing campaign to various groups including gun owners and merchants, police departments, and child safety advocate groups to promote new tech.
“Our ambitious project, SmartSole plus made in the U.S.A., encountered some short-term production challenges, mostly linked to supply chain disruptions and establishing relationships with new vendors. We are now seeing a silver lining and believe having our flagship GPS SmartSole plus made in the US will bring us benefits in the future and open up more opportunities for us to sell this product to government agencies that currently have restrictions on buying electronic communication devices made in China. In our effort to offset the supply chain issues, and position ourselves for forecasted global demand, we formalized an OEM partnership in Germany. The German-made SmartSoles, under an OEM licensing agreement, emphasize our commitment to global solutions and IP strength. Over 1,000 pairs have been put into production so far, and recent shipments to multiple destinations underscore their demand and our resolve to meet it.”
“In closing, we're gearing up with a refreshed marketing team to usher in the Level 2 products and the Handsfree Health virtual assistant healthcare app. Also, in discussion with new dev teams to help us with our long-term vision of AI driven healthcare by leveraging our global geo time-stamped data. And bolstering our domestic distribution/shipping capacity in anticipation of increased product sales. As we continue to navigate forward, we're deeply grateful to all our stakeholders for their unwavering support. Please stay connected for more updates."
As a For Profit with Purpose company, beyond its acclaimed line of health and safety products, MetAlert is a respected US military contractor, with global distribution channel partners that spans online platforms, Amazon, and authorized resellers.
Explore our offerings at www.gpssmartsole.com www.mygunalert.com and www.ifitmoves.com. For partnerships or purchases, reach out to contactus@level2sec.com or info@metalert.com.
WidePoint to Virtually Present and Participate at the H.C. Wainwright 25th Annual Global Investment Conference
From Yahoo.
FAIRFAX, VA / ACCESSWIRE / August 30, 2023 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), will be virtually presenting and holding one-on-one meetings at the H.C. Wainwright 25th Annual Global Investment Conference on September 11-13, 2023 at the Lotte New York Palace Hotel in New York City.
WidePoint's management is scheduled to virtually present on Monday, September 11, 2023 at 7:00 AM Eastern time, with virtual one-on-one meetings to be held throughout the conference. The presentation will be available for replay here.
To receive additional information or to schedule a one-on-one meeting, please email WYY@gateway-grp.com.
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.
Good luck with hurricane "Idalia" going to hit Florida, tomorrow!
Hackers bring down Poland’s train network in massive cyber attack
https://www.databreaches.net/hackers-bring-down-polands-train-network-in-massive-cyber-attack/
DataBreaches.net
The Office of Inadequate Security
And now a country's trains are hit. There is an obvious need for TPMs.
Metropolitan Police reports supplier cyber breach
https://www.ukauthority.com/articles/metropolitan-police-reports-supplier-cyber-breach/
If they cannot even keep the cop's details secret, the TPM must be employed - NOW!
cybersecurity awareness month 2023
I've got a secret for all those who look at the websites concerning the above. Download Wave software when possible and relax.
Visibility Is Just Not Enough to Secure Operational Technology Systems
https://www.darkreading.com/ics-ot/visibility-is-just-not-enough-to-secure-operational-technology-systems
Exactly, Genz2. "If it can’t clean up enough to deter future accusations of sloppy cybersecurity, Microsoft risks damaging the very security that’s become a large foundation of its business." Wave is essential for that clean up.
Cyber attacks in healthcare can be deadly. Here are 3 ways to prevent them
https://www.weforum.org/agenda/2023/08/3-ways-prevent-cyber-attacks-improve-healthcare-outcomes/
I know just one way to prevent them! Use Wave Systems products.
There will be an almighty explosion when they finally decide to use the TPM - everyone will be selling Wave, promoting Wave and this may happen soon as in a previous post, the reduction in cost from MSFT may indicate that competition may be on the horizon. IMO.
Email defence methods increasingly falling short - report
https://securitybrief.co.nz/story/email-defence-methods-increasingly-falling-short-report
When we see that using the TPM 2.0 through Wave could benefit the world in so many ways, it bemuses me every time I look and find that it hasn't been used, yet. In a recent post, I discovered that one concern now told me that when I verified that account, their system would only recognize my computer when accessing that account. Are they recognizing the TPM in the computer? If so, then the TPM is finding it's way into the internet, but very slowly. It must speed up so I shall have to go to "Speaker's Corner" in Hyde Park and tell everyone what is happening!
He seems to me to be confident without being over-confident.
There are several benefits that he highlighted in his speech and a couple of drawbacks and SA was very keen on their performance.
See what happens with the share price.
WidePoint Corporation (WYY) Q2 2023 Earnings Call Transcript
Aug. 15, 2023 5:34 PM ETWidePoint Corporation (WYY)
SA Transcripts profile picture
Seeking Alpha Transcripts
139.97K Followers
WidePoint Corporation (NYSE:WYY) Q2 2023 Earnings Call Transcript August 15, 2023 8:00 AM ET
Company Participants
Jin Kang - Chief Executive Officer & President
Jason Holloway - Chief Revenue Officer
Robert George - Chief Financial Officer
Conference Call Participants
Operator
Good afternoon. Welcome to WidePoint’s Second Quarter 2023 Earnings Conference Call. My name is John, and I will be your operator for today's call. Joining us for today's presentation are WidePoint's President and CEO, Jin Kang; Chief Revenue Officer, Jason Holloway; and Chief Financial Officer, Robert George. Following their remarks, we will open up the call for questions from WidePoint publishing analysts and major investors. If your questions were not taken today and you would like additional information, please contact WidePoint's Investor Relations team at wyy@gateway-grp.com.
Before we begin the call, I would like to provide WidePoint's safe harbor statement that includes cautions regarding forward-looking statements made during this call. The matters discussed in this conference call may include forward-looking statements regarding future events and the future performance of WidePoint Corporation. That involves risk and uncertainties that could cause actual results to differ materially from those anticipated. These risks and uncertainties are described in the company's Form 10-Q filed with the Securities and Exchange Commission.
Finally, I would like to remind everyone that this call will be made available for replay via a link in the Investor Relations section of the company's website at www.widepoint.com.
Now, I would like to turn the call over to WidePoint's President and CEO, Mr. Jin Kang. Sir, please proceed.
Jin Kang
Thank you, operator, and good afternoon to everyone. Thank you for joining us today to review our financial results for the second quarter ended June 30, 2023. I’m pleased to share that WidePoint has been executing our strategic plan as we have seen anecdotal evidence of our business steadily improving. And this has, of course, been supported by our financial performance being modestly ahead of our internal forecast. The kicker here is that, we've been seeing general improvements within our business, even though we are operating with a leaner team following our recent reduction in force initiative. This has led to our 24th consecutive quarter of positive adjusted EBITDA, which is an accomplishment we're hoping to continue going forward and a milestone we're proud of.
A big contributing factor to our ability to operate optimally has to do with our team always looking to make system and processes more efficient. In parallel with the reduction in force, our way of operating efficiently has led WidePoint in becoming a lean and lean corporate organization. We're continuing to meet or exceed customer service level agreements and are renewing materially all of our customers that are up for contract renewals and in some cases, even expanding the scope of services we provide. This is a testament of our robust technological solutions and most certainly the team behind the scenes. In particular, we continue to see growth in the mobility and cyber security sectors and remain steadfast in our trusted mobility management solutions.
One intriguing point to note is that, businesses are still leveraging the remote working model and appears that for a good chunk of them the model is here to stay. From our vantage point, it is quite encouraging as that trend will continue to provide tailwinds for WidePoint and more opportunities for us to capitalize on. That said, there are a flurry of unpredictable macroeconomic trends that could potentially impact our operations. First, as you all may have heard in the news, the Federal Government is again royal in the budget debate and is facing possible government shutdown, which could hamper our operations in that sector. We continue to carefully navigate this environment as we have done for many years, and we will continue to mitigate any risks.
Second, the labor market still remains very tight despite many large tech companies executing layoffs. We are managing this situation but may see some staffing cost increases as we strive to maintain our key personnel. We will mitigate this risk by concentrating our sales effort to capture higher margin managed services revenue. Lastly, supply chain challenges still exist and have been affecting our mobile and accessories fulfillment business. With that said, the encouraging piece of news is that, this challenge has been largely manageable. Thanks to our team's ability to remain nimble.
Although there is the possibility of the delivery timeline pushing to the right, we are confident that our staff can react swiftly and mitigate those supply chain risks. Despite these macro variables, as you may know, we have remained laser focused on controlling the controllables and a major part of that narrative has been the investment we have been making back into our business. After the past several quarters of making strategic investments back into our business, I am pleased to share that we see the light at the end of the tunnel as we expect the majority of our capital expenditures to conclude by the end of the year. One of the bigger programs has, of course, been our intelligent technology management system or ITMS achieving FedRAMP in process status. We're in the latter innings of dealing with the final government entities, which are reviewing our status as we expect this to be completed by the end of the year.
Next, our coop site improvement have largely been completed and is in the testing phase. Furthermore, as we said we would on the last call, remote issuance of certificates also known as soft search, along with our remote vetting process have been completed and will allow WidePoint flexibility in modes of certificate issuance that will result in increased higher margin revenues. Additionally, as we also mentioned on the last call, the development of a hybrid issuance capability which will allow our clients to retain their personally identifiable information or PII in their possession has been completed as well. We are already issuing identity certificates using this new capability. As a result of some of these investments, we've become a stickier solution provider for a number of our preexisting clients, but we've also won a number of incremental deals from net new customers as well.
I'd like to now hand the mic over to Jason so he can talk about some of the activities going on within the sales and marketing front. Jason?
Jason Holloway
Thank you, Jin and good afternoon everyone. While the execution of our sales and marketing strategy continues as planned, I want to focus my remarks today on three topics. First, Q2 Awards. As we reported on July 11, in the second quarter of 2023 WidePoint saw more than 80 contractual actions across our business units, including new awards, renewals, contract extensions and exercise option periods, totaling approximately $46 million in contract value. These wins encompass our managed mobility service, analytics and billing as a service, identity and access management and information technology as a service solutions.
Second, pipeline. Q2 saw increased interest from both government and commercial entities in all of our technology management as a service solutions. We have numerous meaningful new opportunities in the works that we look forward to closing and reporting on in the months ahead. And third, there's a demand for a more secure future. As many of you know, in the United States the first half of 2023 was nonstop news headlines about cyber breaches, ransomware attacks and cyber-crime. With 2,200 cyber-attacks per day, a cyber-attack happening every 39 seconds on average, and a data breach costing an average of $9.44 million, cyber-crime is predicted to cost $8 trillion in the United States by the end of the year. And this is not to even mention the threat to human security and lives posed by cyber-attacks and identity and access management failure.
New solutions and partnerships are needed to more effectively guard against this ever-changing threat landscape. I am also proud and excited to share that building on our K-12 pilot projects and the WidePoint’s experience and expertise, our team is now working with government and industry partners to develop and deploy a more secure offering based on our pioneering PKI solution. To shift public and private sector enterprises to adopt new secure solutions in a monumental effort. Imagine a war room of strategists working together to combat terror. Cybercrime is such a threat. WidePoint is joining forces with the experts and leaders needed to shift this work. It will not happen overnight, but Q2, 2023 will be one of our markers for when the partnerships truly started coming together. In the months ahead, we will report back with incremental material developments and successes.
With that, I will hand the call over to Bob.
Robert George
Thank you, Jason. Good afternoon, everyone. I'm pleased to share the details of our second quarter 2023 financial results. For the second quarter, our revenue was $26.8 million, an increase of $3.7 million or 16% from the $23.1 million reported for the same period last year. Revenues for the six-month period ended June 30, 2023, were $52.1 million, an increase of $6.8 million or 14% from the $45.5 million in the same period last year.
Now I will provide a further breakdown of our second quarter and six-month revenues. In the second quarter, our carrier services revenue was $14.2 million, an increase of $1.7 million from the $12.5 million in the same period in 2022. For the six months ended June 30, 2023, our carrier services revenue was $27.8 million, an increase of $2.4 million from $25.4 million in the same period in 2022. The increase for both the three-month and six-month results is due to increased carrier activity that we are seeing across our customer base.
In second quarter, our managed services revenues increased marginally relative to the same period last year at $6.9 million and $6.7 million, respectively. For the six months ended June 30, 2023, our managed services revenue is $13.8 million, which is relatively constant from period to period. In the second quarter, billable services fees were $1.9 million, an increase of $900,000 from $1 million in the same period in 2022. For the six months ended June 30, 2023, billable services fees were $3.1 million, an increase of $1 million from the $2.1 million in the same period last year. For both the three and six month periods, the increase in billable services fees was the result of more billable positions with a particular government customer and an increase in implementation services in our Soft-ex subsidiary.
In the second quarter, reselling and other services was $3.8 million, an increase of $900,000 from the $2.9 million in the same period last year. For the six months ended June 30, 2023, reselling and other services was $7.3 million, an increase of approximately $3.3 million from the $4 million in the same period last year. The increase for both periods was due to the resale of new capabilities for three federal customers. We do want to highlight that reselling and other services are transactional in nature and the amount and timing of revenue could vary significantly from quarter-to-quarter.
Gross profit for the three month period ended June 30, 2023 was $3.9 million or 15% of revenues, as compared to $3.3 million, or 14% of revenues in 2022. Gross profit for the six month period ended June 30, 2023, was $7.7 million, or 15% of revenues, as compared to $7.2 million, or 16% of revenues in 2022. The more significant metric of gross profit percentage excluding carrier services was 31.2% for the second quarter of 2023, which is consistent with 31.5% in the same period last year. For the six-month period ended June 30, 2023, gross profit percentage excluding carrier services was 32%, compared to 36% in the same period last year. The lower gross margin percentage excluding carrier services is related to corresponding costs from the resale of the new capabilities provided to the three government customers I previously mentioned, and increased amortization expenses related to the capital investments in our delivery platforms that are reaching completion and now beginning to be amortized. We note that our gross profit percentage will vary quarter to quarter due to our revenue mix.
In the second quarter, general and administrative expenses were $3.9 million, or 15% of revenues, compared to $3.8 million, or 17% of revenues in the same period of 2022. The change in general and administrative dollars was not significant. However, general and administrative expenses are lower as a percentage of revenue. General and administrative expenses for the six month period ended June 30, 2023 are $7.9 million or 15% of revenue, as compared to $7.6 million, or 17% of revenue in 2022. We expect to see general and administrative costs as a percentage of revenues lower in the future.
For the second quarter of 2023, our net loss was $842,000, compared to a net loss of $13.8 million in the same period last year. Net loss for the six month period ended June 20, 2023, was $1.8 million, compared to a net loss of approximately $14.1 million in the same period last year. The principal difference in the net loss from the three and six month periods in 2023, compared to the same periods in 2022 was a non-cash goodwill charge of $16.3 million that was taken in the second quarter of 2022, and to a lesser extent, the increased amortization expenses previously mentioned.
Moving to our balance sheet, I'm encouraged about where WidePoint stands from a liquidity perspective, as we've done an exceptional job in managing our cash, and because of our access to a $4 million receivables factoring facility. With that said, we end of the quarter with $7.8 million in cash, which was in part due to an accelerated timing of cash receipts ahead of some vendor payments on the last day of the quarter.
This completes my financial summary. For a more detailed analysis of our financial results, please reference our Form 10-Q, which was filed on August 14.
So with that, I will turn the call back over to Jin.
Jin Kang
Thank you, Bob and Jason. On band with the prior quarters, we've been continuing to receive and review interesting M&A opportunities that could be incrementally beneficial to our existing operations. There are no substantive updates for me to share with you at this time, but we'll be sure to keep you all apprised if and when an opportunity crystallizes.
As I mentioned at the outset of the call, though operations have been improving and heading in the right direction, there are certain variables that are outside of our control, which I described earlier, and that can potentially impact our operations. To that point, we are trending toward the bottom of our aforementioned adjusted EBITDA guidance, and on target for revenues. The reason behind this stems from us experiencing growth in our value-added resale business, which explains for the higher revenue, but lower adjusted EBITDA. Since it's a lower margin offering, nonetheless, we are still confident that we will be exiting the year on a cash flow positive run rate basis. More specifically, we believe we will be improving cash flow year-over-year by approximately $3.5 million.
It is an exciting time at WidePoint, as the investments we have made into the business have begun to bear fruit. We've seen a small sample set of that recently, as Jason shared, but the more compelling thing to note is, what is in store for our organization. As we shared, in addition to increased client retention, augmented scope of work with some of those clients, fueled by sales and marketing tactics as discussed by Jason, we believe that we are approaching an inflection point in our growth story. It is certainly an invigorating moment in our corporate history.
With that said, we are ready to take questions from our analysts and major shareholders. Operator, will you please open the call for questions?
Question-and-Answer Session
Absolutely. At this time, we will be conducting a question-and-answer session. [Operator Instructions] While we pole for questions, I'd like to start with a couple of questions. The first, regarding FEMA. There have been tragic news coming out of Lahaina, Hawaii, and questions about the FEMA budget in the news. How does the current federal government budget discussions affect FEMA? The overall federal government budget and WidePoint.
A - Jin Kang
Thank you, operator. The news out of Lahaina is tragic, and we pray for the people of Hawaii during this time. On the federal government front, they are again embroiled in a budget discussion, and FEMA's budget, which is part of the Department of Homeland Security, is caught up in that process. Good news is that, current WidePoint's contracts are all funded and very little risk to our current revenue run rate. However, any new projects could be delayed, pushing revenue streams to the right, potentially.
Operator
Thank you. And the second question, can you provide more color on your FedRAMP status?
Jin Kang
Sure, can. The current status is that, we are awaiting the Alcohol, Tobacco, Firearms, and Explosives, or ATF, to provide an Authorization to Operate, or ATO. The ATO is currently with the ATF's CIO's office for final signature. Once signed by the CIO's office, it goes to the General Services Administration for final review and approval and FedRAMP authorization status. GSA's final review usually takes a few weeks to complete. However, GSA has informed us that they have received record numbers of applications this year and that the review process has lengthened a little bit. With that said, we believe that this process will be completed in Q4 of this year.
Operator
Thank you. [Operator Instructions] At this time, this concludes our question-and-answer session. If your question was not taken, please contact WidePoint's IR team at wyy@gatewayir.com. I'd now like to turn the call back over to Mr. Jin Kang for his closing remarks.
Jin Kang
Thank you, operator. We appreciate everyone taking the time to join us today. As the operator mentioned, if there were any questions we did not address today, please contact our IR team. You can find their full contact information at the bottom of today's earnings release. Thank you again and have a great evening.
Enjoy top level protection from cyber threats with Windows 11 Pro — just $40
https://www.macworld.com/article/2031057/enjoy-top-level-protection-from-cyber-threats-with-windows-11-pro-just-40.html
MSFT reduces price, dramatically, for Windows 11 Pro version that includes TPM 2.0 and Bitlocker. Interesting.
Cyber Threat: 'Notorious Threat Actor' Puts Indian Forces' Classified, Confidential Data on Sale | Exclusive
https://www.news18.com/india/cyber-threat-notorious-threat-actor-puts-indian-forces-classified-confidential-data-on-sale-exclusive-8535273.html
It's simple. The world must use Wave!
Study reveals staggering cost of vulnerable software supply chains
https://pwemag.co.uk/news/fullstory.php/aid/5522/Study_reveals_staggering_cost_of_vulnerable_software_supply_chains.html
Loss is increasing - dramatically. And so it continues...
Cyber fraudsters are reaping even bigger rewards
https://dofonline.co.uk/2023/08/14/cyber-fraudsters-reaping-even-bigger-rewards/
Wave needs to be used quickly to stop all this massive loss.
Top cyber official offers 'stark warning' of attacks by China on U.S. infrastructure
https://news.yahoo.com/top-cyber-official-offers-stark-040714430.html
It is obvious that the US needs the TPM ASAP but Wave invented it and then gave it away with no patent. Terribly magnanimous, I would say!
Ransomware Protection Market to Surpass 73.9 Billion by 2030 Drives Due to the Increasing Digitization of Businesses
https://www.globenewswire.com/news-release/2023/08/10/2722348/0/en/Ransomware-Protection-Market-to-Surpass-73-9-Billion-by-2030-Drives-Due-to-the-Increasing-Digitization-of-Businesses.html
Save money! Use Wave System's products.
Chinese cyberattacks on Japan prompts U.S. push for stronger defenses
https://asia.nikkei.com/Politics/International-relations/US-China-tensions/Chinese-cyberattacks-on-Japan-prompts-U.S.-push-for-stronger-defenses
The strongest defense is gained by using Wave System's products.
Northern Ireland police may have endangered its own officers by posting details online in error
https://www.theregister.com/2023/08/09/psni_data_breach/
Human error caused this. The system needs radical correction now.
Hackers gain access to UK voters’ data following cyber attack
https://eandt.theiet.org/content/articles/2023/08/hackers-gain-access-to-uk-voters-data-following-cyber-attack/
That is almost the whole of the UK adult population. We need protection - now.
Will WYY be present?
White House Rolls Out Cybersecurity initiatives as Schools Face Devastating Hacks
https://news.yahoo.com/white-house-rolls-cybersecurity-initiative-090100447.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL-rE4lV_DBkLrLyFG989Q7uf0LBHkR2z--hlEJ9TDtOETCq-G2b5cdat7fQxvuKAeCeqSEfa3dXlm0-4ZRqTprA32FEBCtcWXblUmTxBITumtphEOg2PstsgWo0oDi0fVi5vZOhHOZFFSneTBRrNp4gsjlOh1lbzbnsezXrJvAn
https://www.widepoint.com/widepoint-engages-k-12-schools-to-offer-identity-access-management-solutions/
Will they be discussing the WidePoint K -12 project?
https://www.widepoint.com/widepoint-engages-k-12-schools-to-offer-identity-access-management-solutions/
The CEO described the K-12 project and how it works which is using the TPM 2.0 and providing a service to the schools to make best use of it in an interview, last year.
WidePoint's Subsidiary IT Authorities Awarded New $2.7 Million IT Managed Services Provider Contract
FAIRFAX, VA / ACCESSWIRE / August 7, 2023 / WidePoint Corporation (NYSE American:WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity & Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new three-year IT managed services contract worth $2.7 million by a national Sports Marketing, Media & Technology company, which is an expansion from a successful pilot program. ITA will provide IT-as-a-Service Network & Infrastructure Monitoring and management, with 24x7x365 help desk support.
Jason Caras, the CEO of IT Authorities stated: "IT Authorities is proud to provide top-tier managed services for this national sports marketing firm that has grown from $30 million in revenue to a staggering $750 million with a network of offices across the country. As this expansion persists, IT Authorities is committed to overseeing, managing and catering to their IT and security requirements."
Jin Kang, WidePoint's CEO, stated, "WidePoint's subsidiary, IT Authorities, is being recognized for excellent service with this expanded contract. We look forward to continued expansion of our contract with this industry-leading firm as they continue to experience exponential growth. And as more organizations seek to outsource technology management activities, WidePoint is positioned well for delivering these essential services. ITA is also providing new opportunities for cross-selling and upselling of WidePoint security and managed mobility services."
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
WYY@gatewayir.com
SOURCE: WidePoint Corporation
View source version on accesswire.com:
https://www.accesswire.com/772409/WidePoints-Subsidiary-IT-Authorities-Awarded-New-27-Million-IT-Managed-Services-Provider-Contract
LetMeSpy Ceases Operations Following Major Cyber Attack
https://techreport.com/news/letmespy-ceases-operations-following-major-cyber-attack/
Even the spies have no control over their operations.
Genz2 - The introduction of the new system for the internet is a global affair so I wonder how many people have to approve approve of what is being offered. The UN sometimes has difficulties getting motions passed and this could be similar. Could the security services have some issues? It's true that trillions of dollars are being wasted - but it has to be implemented correctly. DO we have to wait for the wars going on around the world to finish? It will happen but I do not know when. All IMO.
Government and public services face 40% more cyberattacks, struggle to protect due to lack of resources: Report
https://www.financialexpress.com/life/technology-government-and-public-services-face-40-more-cyberattacks-struggle-to-protect-due-to-lack-of-resources-report-3200763/
With Wave, the cost is reduced so introduction is essential.
What happens when a cybercriminal gets access to your email address?
https://www.foxnews.com/tech/what-happens-when-cybercriminal-gets-access-your-email-address
Excerpt - Once your email address has been compromised by a hacker, everything in there is now at risk. Your personal and financial information, as well as your friends, family and even work colleagues are now at risk because the hacker gains unauthorized access and can potentially use the information for malicious purposes.
C'mon, Wave, tell everyone about your products!
Microsoft warns sporting events could be targets for major cyberattacks
https://www.techradar.com/pro/microsoft-warns-sporting-events-could-be-targets-for-major-cyberattacks
Excerpt - The Cyber Signals report notes that valuable information associated with sporting events is at greater risk now more than ever, thanks to the increase in the number of interconnected networks and devices at venues.
Time for Wave to get into action.