WidePoint Corporation (NYSE:WYY) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM 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 Third Quarter 2022 Earnings Conference Call. My name is Matthew, and I will be your operator for today's call. Joining us for today's presentation are WidePoint's President and CEO, Jin Kang; C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification no.) 11250 Waples Mill Road, South Tower 210, Fairfax, Virginia (Address of principal executive of ices) (Zip Code) (703) 349-2577 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE S ...

WidePoint Corporation (NYSE:WYY) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Jin Kang - President and CEO Robert George - CFO Jason Holloway - EVP and Chief Sales & Marketing Officer Conference Call Participants Barry Sine - Spartan Capital Securities Operator Good afternoon. Welcome to WidePoint’s Second Quarter 2022 Earnings Conference Call. My name is Mathew and l will be your operator for today’s call. Joining us for today’s presentation are WidePoint’s President and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to ___________________ Commission File Number: 001-33035 WidePoint Corporation (Exact name of Registrant as specified in its charter) Delaware 52-2040 ...

WidePoint Corporation (NYSE:WYY) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants Jin Kang – President and Chief Executive Officer Robert George – Chief Financial Officer Jason Holloway – Executive Vice President and Chief Sales & Marketing Officer Conference Call Participants Barry Sine – Spartan Capital Securities Operator Good afternoon. Welcome to WidePoint's First Quarter 2022 Earnings Conference Call. My name is Holly and l will be your operator for today's call. Joining u ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to ___________________ Commission File Number: 001-33035 WidePoint Corporation (Exact name of Registrant as specified in its charter) Delaware 52-2040275 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification no.) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO S ...

WidePoint Corporation (NYSE:WYY) Q4 2021 Earnings Conference Call March 28, 2022 4:30 PM ET Company Participants Jin Kang - Chief Executive Officer and President Jason Holloway - EVP, Chief Sales & Marketing Officer and President of WidePoint Cybersecurity Solutions Corporation Kellie Kim - Chief Financial Officer Conference Call Participants Barry Sine - Spartan Capital Operator Good afternoon. Welcome to WidePoint's Fourth Quarter 2021 Earnings Conference Call. My name is Katherine, and I will be your op ...

For the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to ___________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-33035 WidePoint Corporation (Exact name of Registrant as specified in its charter) (State or other juris ...

Financial Data and Key Metrics Changes - For Q3 2021, revenue was $22.3 million, down from $57.5 million in the same quarter last year, primarily due to the loss of carrier service revenues from the U.S. Department of Commerce contract [33] - For the nine months ended September 30, 2021, revenue decreased to $62.9 million from $152 million in the same period last year, driven by the wind-down of the Census project and lower accessory sales [34] - Gross profit for Q3 2021 was $3.7 million, a 35% decrease from $5.6 million in Q3 2020, while gross margin improved to 16.5% from 9.8% [35] - GAAP net income for Q3 2021 was $535,000 or $0.06 per diluted share, down from $1.1 million or $0.13 per diluted share in Q3 2020 [39] - Cash at the end of the quarter was $18.1 million, with a current ratio of approximately 1.6 compared to 1.2 at the end of 2020 [41] Business Line Data and Key Metrics Changes - The Identity Management, Managed Mobility Services, and Telecom Lifecycle Management secured over $16.8 million in contract awards, although results were partially impacted by unexpected events [21] - The company is enhancing its Identity Management Solution and investing in a new commercial certificate authority to increase capabilities in the commercial market [13] Market Data and Key Metrics Changes - The company is focusing on K-12 educational institutions and the beverage production vertical, recognizing significant opportunities due to increased cybersecurity needs [22][25] - The acquisition of IT Authorities (ITA) is expected to strengthen the company's position in various growth markets and enhance its customer base [10] Company Strategy and Development Direction - The company aims to continue its strategy for profitable growth through both organic and inorganic means, with a focus on acquiring stable and profitable companies [46][47] - The management is cautious about the current acquisition environment, noting that many companies are demanding high multiples [46] Management's Comments on Operating Environment and Future Outlook - The management acknowledged macroeconomic headwinds, including supply chain disruptions and federal budget uncertainties, which have delayed several opportunities [7][8] - Despite challenges, the management remains optimistic about future growth and the ability to capitalize on near-term opportunities [52] Other Important Information - The company has initiated a share repurchase program, increasing the amount available for future purchases to $4.6 million [48] - CFO Kellie Kim announced her retirement, effective early next year, and will assist as a consultant post-retirement [43][51] Q&A Session Summary Question: How did the ITA acquisition affect your EBITDA? - ITA was acquired on October 1, so the financial results do not reflect any contribution from ITA for Q3, but a small contribution is expected in Q4 [54] Question: Do you intend to make additional acquisitions? - The company is focused on finding quality companies that are immediately accretive and is currently reviewing various acquisition opportunities [55] Question: What are the sizes of opportunities in new vertical markets? - The K-12 sector represents a large opportunity due to its status as a major employer, and the beverage industry also presents significant potential [56][60]

Revenue Performance - Revenues for the three-month period ended September 30, 2021, were approximately $22.2 million, a decrease of approximately $35.3 million (or 61%) compared to $57.5 million in 2020[110] - For the nine-month period ended September 30, 2021, revenues were approximately $62.9 million, a decrease of approximately $89.1 million (or 59%) compared to $151.9 million in 2020[124] - Carrier services revenue decreased to $13.1 million from $45.0 million, a decline of $31.9 million, primarily due to the completion of the U.S. Department of Commerce contract supporting the 2020 Census[110] Profitability - Gross profit for the three-month period ended September 30, 2021, was approximately $3.7 million (or 16% of revenues), compared to $5.6 million (or 11% of revenues) in 2020, driven by higher margin managed services revenue[117] - Net income for the nine months ended September 30, 2021, was approximately $916,000, down from approximately $2.0 million in the same period last year[134] Expenses - Cost of revenues for the three-month period ended September 30, 2021, was approximately $18.6 million (or 84% of revenues), down from $51.9 million (or 90% of revenues) in 2020[116] - General and administrative expenses for the nine months ended September 30, 2021, were approximately $8.7 million, representing 14% of revenues, a decrease from $10.9 million (7% of revenues) in 2020[131] - Sales and marketing expenses for the nine-month period ended September 30, 2021, were approximately $1.5 million (or 2% of revenues), compared to $1.4 million (or 1% of revenues) in 2020[130] - Depreciation and amortization expense for the nine months ended September 30, 2021, was approximately $768,000, down from approximately $814,800 in 2020[132] - Income tax expense for the nine months ended September 30, 2021, was approximately $329,300, with an effective tax rate of 26.5%, compared to $242,800 and 10.6% in 2020[133] - Net other expense for the nine months ended September 30, 2021, was approximately $(176,500), a decrease from $(224,300) in 2020, reflecting lower interest expenses[132] Cash Flow and Capital - Cash used in operating activities for the nine months ended September 30, 2021, was approximately $3.5 million, compared to $6.0 million net cash provided in the same period of 2020[141] - Cash used in investing activities for the nine months ended September 30, 2021, was approximately $1.9 million, primarily for computer hardware and software purchases[143] - Cash provided by financing activities for the nine months ended September 30, 2021, was approximately $681,000, reflecting proceeds from common stock issuance through the ATM sales program[146] - The company sold 100,687 shares under the ATM program during the nine months ended September 30, 2021, with a remaining capacity of $18.6 million as of September 30, 2021[139] - Net working capital increased to approximately $14.6 million as of September 30, 2021, compared to $13.0 million at December 31, 2020, driven by proceeds from common stock issuance[138] Strategic Initiatives - The company completed the acquisition of ITA on October 1, 2021, for a purchase price of $4.75 million in cash and 75,000 warrants[107] - The company aims to expand its marketplace share and improve sustainability by investing in technology solutions and new sales and marketing initiatives[105] - The company plans to enhance its expertise in delivering ITaaS solutions and expand its presence in the commercial enterprise sector, particularly with small and mid-sized businesses[111] Managed Services - Managed service fees for the nine-month period ended September 30, 2021, were $20.2 million, down from $25.3 million, a decrease of $5.1 million[125]