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WidePoint Provides Fiscal Year 2020 Financial Guidance

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Company Anticipates Fiscal 2020 Revenues of $185 Million to $195 Million, Representing 87% Year-Over-Year Grow at the Midpoint

FAIRFAX, Va., June 18, 2020 (GLOBE NEWSWIRE) -- WidePoint Corporation (NYSE American: WYY), the leading provider of Trusted Mobility Management (TM2) specializing in Telecommunications Lifecycle Management, Identity Management and Digital Billing & Analytics solutions, has provided its financial outlook for the fiscal year ending December 31, 2020.

For the fiscal year ending December 31, 2020, the Company currently anticipates revenues to range between $185 million and $195 million, which, at the midpoint of the range, would represent 87% growth compared to fiscal 2019. Additionally, the Company currently expects EBITDA to range between $3.0 million and $3.4 million, which would be a 13% increase at the midpoint compared to fiscal 2019.

“Up to this point, the uncertainty that permeated all industries and the plethora of variables that could potentially impact revenue recognition from current and new contracts had made it challenging to provide an accurate forecast for fiscal 2020,” said WidePoint’s CEO, Jin Kang. “However, as the year has progressed and as this year’s major initiatives, like our work on the 2020 U.S. Census, have matured, we’ve gained more insight and visibility into how the year should progress.”

“We’ve always been optimistic about our growth prospects for 2020, but it’s especially gratifying to be in a position to now provide the investment community with a more tangible and objective measure of our expectations for the year. We started 2020 with a successful quarter, and we look forward to building on that momentum throughout the year.”

About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading provider of trusted mobility management (TM2) solutions, including telecom management, mobile management, identity management, and digital billing and analytics. For more information, visit widepoint.com.

Investor Relations:
Gateway Investor Relations
Matt Glover or Charlie Schumacher
949-574-3860
WYY@gatewayir.com