WidePoint Corp (WYY)

[Methinks]

WidePoint Awarded More than $70.3 Million in IT and Security Services Contracts During Q4 2023
https://finance.yahoo.com/news/widepoint-awarded-more-70-3-143000902.html

FAIRFAX, VA / ACCESSWIRE / January 16, 2024 / 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 it was awarded more than $70.3 million in contracts during the fourth quarter of 2023.

Jin Kang, WidePoint's CEO, stated: "The fourth quarter was a great ending to 2023 for WidePoint with more than 30 contractual actions across our business units. These wins include new awards, renewals, contract extensions and exercised option periods for our MMS, IAM and ITaas solutions. Importantly, numerous contracts that had been delayed or impacted by government funding were finally awarded and are even being carried over into this month. Much of that revenue will be realized in the first quarter of 2024 and beyond. We're optimistic with how operations have been at the start of the new year and look forward to sustaining this trend throughout 2024."

Highlights include:

More than 30 contractual actions resulting in more than $70,300,000 in contract value

More than $64.9 million in new business

Approximately $1.3 million in commercial contracts

Approximately $69 million in government contracts

Numerous federal contracts including, among others, the U.S. Department of Homeland Security, the United States Coast Guard, U.S. Customs and Border Protection, U.S. Courts, the Federal Emergency Management Agency and the U.S. Department of Health & Human Services

Telecom Expense Management and MMS contracts with a major commercial airline

Multi-year MPS contracts with leading healthcare and bottling enterprises

Renewals and new orders for WidePoint's IAM offerings

Jason Holloway, WidePoint's Chief Revenue Officer, stated: "With cyber-attacks crippling organizations around the globe on a daily basis, we are committed to delivering enhanced security to protect remote teams, mobile resources, work environments and IT infrastructure. WidePoint is proud that our IAM solutions are increasingly being adopted and looks forward to expanding our impact in 2024."

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
[e-mail]

SOURCE: WidePoint Corporation