WidePoint Awarded More Than $70.3M In IT And Security Services Contracts During Q4 2023

Author: Benzinga Newsdesk | January 16, 2024 10:37am

WidePoint Corporation (NYSE: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."

Posted In: WYY