WidePoint Corporation (WYY): History, Ownership, Mission, How It Works & Makes Money

In today's interconnected world, are you confident that your organization's mobile assets and sensitive data are fully protected? WidePoint Corporation (NYSE American: WYY), with a market capitalization of $28.3 million as of April 2025, stands as a leading technology Managed Solution Provider (MSP), delivering innovative solutions in cybersecurity, identity management, and managed mobility services. Keep reading to explore WidePoint's journey, its unique approach to securing digital environments, and how it's strategically positioned for future growth in the ever-evolving tech landscape.

WidePoint Corporation (WYY) History

WidePoint Corporation Founding Timeline

Year established

WidePoint was established in 1997.

Original location

The company was originally located in Fairfax, Virginia.

Founding team members

The founding team included:

• Jim McCubbin
• Todd Wilkinson
• Steve Komar

Initial capital/funding

The initial funding was approximately $5 million from private investors.

WidePoint Corporation Evolution Milestones

WidePoint Corporation Transformative Moments

• Strategic Shift to Managed Services: In 2007, rebranding to WidePoint Corporation marked a pivotal change, emphasizing managed services over traditional telecom solutions.
• Government Contracts: Winning significant contracts with the Department of Homeland Security (DHS) in 2011, and subsequent task orders, solidified WidePoint’s position as a key player in government cybersecurity.
• Acquisitions: Strategic acquisitions of companies like iSYS LLC and Trusted Federal Systems (TFS) expanded service offerings and enhanced technological capabilities, particularly in cybersecurity.
• Diversification into Healthcare: Entering the healthcare sector in 2020 broadened the company’s revenue base and demonstrated adaptability to new markets.

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WidePoint Corporation (WYY) Ownership Structure

WidePoint Corporation operates as a public company, meaning its shares are available for trading on public stock exchanges. The ownership is distributed among various shareholders, including institutional investors, individual investors, and company insiders.

WidePoint Corporation's Current Status

WidePoint Corporation is a publicly traded company, listed on the New York Stock Exchange (NYSE) American under the ticker symbol WYY. This allows anyone to purchase shares in the company.

WidePoint Corporation's Ownership Breakdown

WidePoint's ownership is divided among institutional, retail, and insider shareholders. As a publicly traded company, a significant portion of its shares are held by institutional investors, such as hedge funds, mutual funds, and pension funds. These institutions often have substantial holdings and can influence the company's stock price and corporate governance. Additionally, retail investors, or individual members of the public, hold a portion of the company's shares. Company insiders, including executives and board members, also own shares, which can align their interests with the company's performance.

WidePoint Corporation's Leadership

The leadership team is responsible for the strategic direction and operational management of WidePoint. Key members include:

• Jin Kang: President and Chief Executive Officer
• Robert George: Chief Financial Officer
• Ryan Wilhelm: Chief Revenue Officer

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WidePoint Corporation (WYY) Mission and Values

WidePoint Corporation aims to deliver secure, compliant technology solutions, emphasizing trust and innovation in cybersecurity. Their core values revolve around integrity, customer satisfaction, and a commitment to excellence.

WidePoint's Core Purpose

Official mission statement

WidePoint's mission statement is to provide trusted technology solutions that enable organizations to conduct business securely and efficiently. This involves:

• Delivering cybersecurity solutions that protect sensitive data and infrastructure.
• Ensuring compliance with industry standards and government regulations.
• Offering innovative technologies that enhance operational efficiency.
• Building trust through reliable and secure services.

Vision statement

WidePoint envisions becoming a leading provider of secure, compliant technology solutions, recognized for innovation and customer satisfaction. This vision encompasses:

• Expanding market presence in government and commercial sectors.
• Developing cutting-edge cybersecurity technologies.
• Fostering a culture of innovation and excellence.
• Achieving sustained growth and profitability.

Company slogan/tagline

WidePoint's tagline, though not explicitly highlighted in recent public information, generally reflects its commitment to security and trust. Based on their services and mission, a fitting tagline could be:

• 'Securing Your World.' This emphasizes their focus on providing comprehensive security solutions.
• 'Trusted Technology, Secure Solutions.' Highlights reliability and expertise in technology and security.

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WidePoint Corporation (WYY) How It Works

WidePoint Corporation provides trusted mobility management (TM2) solutions, including cybersecurity, digital identity, and IT infrastructure, to government and commercial clients.

WidePoint Corporation's Product/Service Portfolio

WidePoint Corporation's Operational Framework

WidePoint operates through the following key processes:

• Solution Development: WidePoint designs and develops its TM2 solutions to meet the specific needs of its clients, focusing on innovation and compliance with industry standards.
• Service Delivery: The company delivers its solutions through a combination of its own infrastructure and strategic partnerships, ensuring reliable and secure service delivery.
• Customer Support: WidePoint provides ongoing support and maintenance services to its clients, ensuring that its solutions continue to meet their evolving needs.
• Compliance and Security: WidePoint places a strong emphasis on security and compliance, adhering to strict industry standards and certifications to protect its clients' data and systems.

WidePoint Corporation's Strategic Advantages

WidePoint's strategic advantages include:

• Trusted Mobility Management (TM2): WidePoint's TM2 solutions provide end-to-end security and management of mobile devices and data, addressing a critical need for organizations with mobile workforces.
• Strong Government Relationships: WidePoint has established long-standing relationships with various government agencies, giving it a competitive advantage in securing government contracts.
• Comprehensive Solution Portfolio: WidePoint offers a broad range of solutions, including identity management, managed mobility services, cybersecurity, and IT infrastructure, enabling it to meet the diverse needs of its clients.
• Focus on Innovation: WidePoint continuously invests in research and development to stay ahead of emerging threats and technologies, ensuring that its solutions remain cutting-edge.

More insights about the company can be found at: Mission Statement, Vision, & Core Values of WidePoint Corporation (WYY).

WidePoint Corporation (WYY) How It Makes Money

WidePoint Corporation primarily generates revenue by offering cybersecurity solutions, including secure mobility, identity management, and related professional services to government and commercial clients.

WidePoint Corporation's Revenue Breakdown

WidePoint derives its revenue from two primary sources: product revenue and service revenue. Product revenue includes sales of hardware and software, while service revenue is generated from managed service contracts, professional services, and subscription services.

WidePoint Corporation's Business Economics

WidePoint's business economics are shaped by several key factors:

• Government Contracts: A significant portion of WidePoint's revenue comes from contracts with the U.S. federal government, particularly for cybersecurity and IT solutions. These contracts often provide a stable and recurring revenue stream.
• Cybersecurity Market Growth: The increasing demand for cybersecurity solutions, driven by rising cyber threats and regulatory compliance requirements, fuels WidePoint's growth.
• Recurring Revenue Model: WidePoint's focus on managed and subscription-based services helps to create a recurring revenue stream, improving predictability and long-term financial stability.
• Strategic Partnerships: Collaborations with technology vendors and other service providers enhance WidePoint's capabilities and market reach.

WidePoint Corporation's Financial Performance

WidePoint's financial performance can be assessed through the following points:

• Revenue Growth: The company has demonstrated revenue growth driven by increased demand for its cybersecurity solutions and successful contract wins. For instance, in 2023, WidePoint reported revenue of $145.7 million, reflecting a 14% increase compared to 2022.
• Gross Profit Margin: WidePoint maintains a healthy gross profit margin, reflecting its ability to efficiently deliver services and manage costs. The gross profit for 2023 was $37.8 million, or 25.9% of revenue, compared to $34.2 million, or 26.8% of revenue for 2022.
• Operating Expenses: Operating expenses include costs related to sales, marketing, research and development, and administrative activities.
• Net Income/Loss: WidePoint's net income or loss reflects its overall profitability after accounting for all revenues and expenses. For 2023, WidePoint reported net income of $0.5 million, or $0.03 per diluted share, compared to a net loss of $2.2 million, or $0.18 per diluted share, for 2022.
• Cash Flow: Monitoring WidePoint's cash flow from operations, investing, and financing activities provides insights into its financial health and ability to fund future growth initiatives.

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WidePoint Corporation (WYY) Market Position & Future Outlook

WidePoint Corporation is positioning itself for continued growth in the cybersecurity and mobile technology sectors, particularly within the U.S. government and commercial markets. With a focus on SaaS-based solutions and strategic contract wins, the company aims to achieve positive earnings per share for the full year 2025.

Competitive Landscape

Note: Market share data is not available in the search results.

Opportunities & Challenges

Industry Position

WidePoint operates in the technology, communications, mobility management, and identity management industries. Key aspects of its industry position include:

• Trusted Mobility Management (TM2): WidePoint delivers its solutions through a technology management-as-a-service model.
• SaaS Transition: The company is transitioning toward SaaS-based solutions like MobileAnchor and M365 Analyzer, which offer higher-margin, recurring revenue streams.
• Government Focus: WidePoint primarily serves highly sensitive government agencies such as the DoD and DHS.

For insights into WidePoint's financial health, see Breaking Down WidePoint Corporation (WYY) Financial Health: Key Insights for Investors