WidePoint Corporation (WYY) Bundle
A Brief History of WidePoint Corporation (WYY)
Foundation and Early Years
WidePoint Corporation was founded in 1997 and is headquartered in McLean, Virginia. The company began its journey focusing on telecommunications and technology solutions.
Initial Public Offering
WidePoint went public in 2007; its shares began trading on the American Stock Exchange. The IPO raised approximately $5 million.
Acquisitions and Growth
In 2010, WidePoint acquired ComCash, expanding its portfolio into the areas of telecommunications expense management and fraud prevention.
In 2013, WidePoint purchased SECURE, a significant step in enhancing its cybersecurity capabilities. This acquisition demonstrated the company's commitment to providing secure communications for government and commercial clients.
Financial Performance
For the fiscal year 2020, WidePoint reported revenues of approximately $22.2 million, a growth from $18.4 million in 2019. In 2021, revenue increased further to approximately $25.1 million.
| Year | Revenue (in millions) | Net Income (in millions) | Stock Price (End of Year) |
|---|---|---|---|
| 2018 | $16.1 | $0.1 | $0.50 |
| 2019 | $18.4 | $0.4 | $0.75 |
| 2020 | $22.2 | $0.7 | $1.00 |
| 2021 | $25.1 | $1.2 | $1.20 |
| 2022 | $27.5 | $1.5 | $1.50 |
Contracts and Partnerships
WidePoint has secured various contracts in the government sector, including an important contract with the Department of Defense in 2022 valued at approximately $3 million.
The company also formed strategic partnerships with technology firms to enhance its service offerings, consolidating its position in the market.
Recent Developments
As of 2023, WidePoint has continued to focus on expanding its cybersecurity services. The company announced a strategic initiative to invest $2 million into research and development for its product innovations.
According to the latest available data, as of September 2023, the company’s stock price was at approximately $1.65 per share.
Market Position
- WidePoint is recognized as a provider of secure mobile communications solutions.
- The company primarily targets government agencies and enterprises.
- With approximately 200 employees, WidePoint continues to grow its workforce to meet increasing demand.
Future Outlook
The company aims to achieve revenue growth of approximately 10% annually for the next five years, focusing on enhancing its cybersecurity and telecommunications management services.
A Who Owns WidePoint Corporation (WYY)
Overview of Ownership Structure
WidePoint Corporation (WYY) operates under a diverse ownership structure, including institutional investors, retail shareholders, and corporate insiders. As of the latest available data in 2023, the following outlines the key ownership percentages:
| Ownership Type | Ownership Percentage |
|---|---|
| Institutional Investors | 40.2% |
| Insider Ownership | 15.3% |
| Retail Investors | 44.5% |
Major Institutional Shareholders
Significant institutional shareholders play a crucial role in the company’s governance and financial strategies. Below is a list of the top institutional shareholders:
| Institution Name | Shares Owned | Ownership Percentage |
|---|---|---|
| BlackRock, Inc. | 1,200,000 | 12.1% |
| The Vanguard Group, Inc. | 850,000 | 8.6% |
| State Street Corporation | 500,000 | 5.0% |
| Invesco Ltd. | 300,000 | 3.0% |
Insider Ownership
Insider ownership is also a critical aspect of WidePoint's corporate structure. The following provides information on key executives and their respective ownership stakes:
| Name | Position | Shares Owned | Ownership Percentage |
|---|---|---|---|
| J. M. C. Smith | CEO | 400,000 | 4.0% |
| T. R. Jones | CFO | 200,000 | 2.0% |
| R. K. Albright | COO | 100,000 | 1.0% |
Retail Investor Composition
The composition of retail investors indicates strong public interest in WidePoint Corporation. As per the latest statistics:
- Total Retail Shareholders: Approximately 10,000
- Average Shares Held per Retail Investor: 250
- Geographic Distribution:
- United States: 75%
- International: 25%
Recent Stock Performance
WidePoint Corporation's stock performance reflects its market position and investor sentiment. Key financial figures as of Q3 2023 include:
| Metric | Value |
|---|---|
| Current Share Price | $2.50 |
| Market Capitalization | $100 million |
| Annual Revenue | $75 million |
| Net Income | $5 million |
Conclusion of Ownership Analysis
The ownership of WidePoint Corporation is characterized by a blend of institutional and retail investors, along with a notable presence of corporate insiders. This diversified ownership structure can have implications on corporate governance and strategic directions.
WidePoint Corporation (WYY) Mission Statement
Overview of WidePoint Corporation
WidePoint Corporation (WYY) is a technology firm that provides comprehensive solutions primarily focused on cybersecurity, telecommunications management, and IT management. The company aims to be a trusted partner for public and private sector organizations by delivering innovative technology that drives efficiency and security.
Core Mission Components
- Customer Focus: WidePoint is dedicated to understanding and addressing the unique needs of its clients.
- Innovation: The company prioritizes the development of cutting-edge solutions that meet evolving market demands.
- Integrity: Upholding ethical standards and transparency in all dealings is fundamental to the company’s operations.
- Team Empowerment: WidePoint believes in fostering a diverse and inclusive workplace that empowers employees to contribute their best.
- Continuous Improvement: The firm is committed to refining its processes and services consistently to ensure optimal delivery and performance.
Mission Statement Detail
WidePoint's mission statement emphasizes its commitment to delivering comprehensive, innovative solutions that ensure secure communications and effective IT management. The company prides itself on using advanced analytics and technology to enhance operational efficiency and protect sensitive information.
Financial Performance Metrics
| Year | Revenue (in millions USD) | Net Income (in millions USD) | EBITDA (in millions USD) | Total Assets (in millions USD) |
|---|---|---|---|---|
| 2020 | 28.2 | 1.8 | 4.2 | 32.8 |
| 2021 | 36.5 | 2.5 | 7.2 | 39.1 |
| 2022 | 40.0 | 3.0 | 9.1 | 45.5 |
| 2023 (Q3) | 35.0 | 2.7 | 8.0 | 42.0 |
Strategic Goals
- Enhance service offerings through R&D investments.
- Expand client base in government and private sectors.
- Improve operational efficiency and reduce costs.
- Strengthen partnerships with key technology vendors.
- Increase market share in cybersecurity and IT services.
Commitment to Sustainability
WidePoint recognizes the importance of sustainable business practices. The company implements initiatives aimed at reducing its carbon footprint and promoting eco-friendly technologies.
Conclusion of Mission Statement Implementation
The mission statement of WidePoint Corporation reflects its dedication to delivering innovative, secure, and efficient solutions while maintaining a commitment to ethical standards and continuous improvement. The company’s strategic focus ensures that it remains a reliable partner in the technology sector.
How WidePoint Corporation (WYY) Works
Overview of WidePoint Corporation
WidePoint Corporation, publicly traded under the ticker symbol WYY, specializes in providing telecommunications and information technology solutions. The company's core areas include identity management, security, and compliance solutions, primarily for government and enterprise customers.
Business Segments
- Telecommunication Services
- Managed Services
- Identity Management
- Cybersecurity Solutions
Financial Performance
In the fiscal year ending December 31, 2022, WidePoint reported the following financial data:
| Financial Metric | Amount (in USD) |
|---|---|
| Revenue | $27.5 million |
| Net Income | $1.2 million |
| Gross Profit Margin | 34% |
| Operating Expenses | $12 million |
| Assets | $15 million |
| Liabilities | $5 million |
Identity Management Solutions
WidePoint’s identity management solutions focus on identity assurance and credentialing, primarily used by governmental bodies. The company has secured contracts to provide these services, achieving notable revenues.
As of 2023, the identity management segment accounts for approximately 60% of the total revenue.
Telecommunication Services
WidePoint offers telecom expense management services, optimizing communication costs for clients. This segment recorded revenues of approximately $10 million in fiscal year 2022.
| Service Type | Revenue (in USD) | Market Growth (2023-2025) |
|---|---|---|
| Telecom Expense Management | $10 million | 5% |
| Cybersecurity Solutions | $7 million | 7% |
Cybersecurity Solutions
Cybersecurity is a growing segment, with WidePoint's solutions aimed at protecting data and systems from breaches. In 2022, the cybersecurity solutions department generated approximately $7 million in revenue.
Market Position and Competitors
WidePoint competes with major players in the telecommunications and cybersecurity markets, including:
- AT&T
- Verizon
- Centrify
- RSA Security
Recent Developments
In 2023, WidePoint announced a strategic partnership with a leading government agency, projected to enhance its market position and potentially increase revenue by 15%.
Stock Performance
As of October 2023, WidePoint's stock had the following key statistics:
| Stock Metrics | Value |
|---|---|
| Current Price | $1.75 |
| Market Capitalization | $53 million |
| P/E Ratio | 44.2 |
| 52-Week Range | $1.20 - $2.00 |
Conclusion of Company Operations
WidePoint's operational framework is centered around securing and managing telecommunications solutions. The company’s market strategies leverage advanced technology to meet compliance and security demands for its clientele.
How WidePoint Corporation (WYY) Makes Money
Core Business Segments
WidePoint Corporation generates revenue through various business segments, including:
- Telecom Lifecycle Management (TLM): Services that include mobile device lifecycle management and expense management.
- Identity Management: Solutions focusing on identity authentication, credentialing, and secure access.
- Blockchain Technology: Implementation of blockchain solutions for secure information sharing and management.
Revenue Breakdown
In 2022, WidePoint reported revenues of approximately $28.5 million.
| Segment | 2022 Revenue ($ millions) | Percentage of Total Revenue (%) |
|---|---|---|
| Telecom Lifecycle Management | 18.2 | 64% |
| Identity Management | 8.5 | 30% |
| Blockchain Technology | 1.8 | 6% |
Customer Base
WidePoint's customer base includes government agencies and commercial enterprises. In 2021, over 49% of the company’s revenue came from government contracts.
Strategic Partnerships
WidePoint has engaged in strategic partnerships to enhance service offerings, including:
- AT&T: Collaboration for mobile device management solutions.
- IBM: Partnership for integrating blockchain technology with identity solutions.
- Department of Defense (DoD): Contract to provide identity management solutions.
Financial Performance Indicators
As of Q2 2023, WidePoint's gross profit margin was reported at 30%, indicating effective cost management strategies despite growing operational expenditures.
| Indicator | Q2 2023 Value |
|---|---|
| Gross Profit Margin (%) | 30% |
| Operating Income ($ millions) | 0.85 |
| Net Income ($ millions) | 0.65 |
Market Trends
The global Telecom Lifecycle Management market is projected to reach $7 billion by 2025, presenting growth opportunities for WidePoint. The Identity Management solutions market is expected to expand at a CAGR of 14.8% through 2026.
Investment in Technology
WidePoint has invested heavily in technology to enhance its service capabilities, with R&D expenditures amounting to $2 million in 2022, aiming to improve its blockchain and identity management services.
Challenges and Opportunities
Market competition and evolving cybersecurity threats pose challenges; however, increased demand for secure identity and telecom management creates opportunities for growth.
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