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EX-3.1 - ARTICLES OF INCORPORATION / BYLAWS - WIDEPOINT CORP | wyy_ex31.htm |
EX-99.2 - PRESS RELEASE - WIDEPOINT CORP | wyy_ex992.htm |
8-K - CURRENT REPORT - WIDEPOINT CORP | wyy_8k.htm |
Exhibit
99.1
WidePoint Increases Fiscal Year 2020 EBITDA Guidance by
50%
Company Increases Fiscal 2020 EBITDA Guidance to Between $4.7
Million to $4.9 Million, Representing a 50% Increase from
Previously Issued Guidance and a 69% Improvement over Fiscal
2019
Fairfax, VA – October 26, 2020 – 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 updated its financial outlook for the
fiscal year ending December 31, 2020.
On June 18, 2020, WidePoint issued revenue guidance of $185 million
to $195 million and EBITDA guidance of $3.0 million to $3.4 million
for fiscal 2020. Today, the Company has increased its EBITDA
guidance and reiterated its revenue expectations for fiscal 2020.
The Company now expects EBITDA to range between $4.7 million and
$4.9 million, which, at the midpoint of the guidance range, is 50%
above the Company’s previously issued guidance and represents
a 69% year-over-year increase compared to fiscal 2019. The company
is also providing fiscal 2020 adjusted EBITDA guidance, which
excludes stock-based compensation expense, of $5.5 million to $5.7
million, which, at the midpoint of the guidance range, represents a
57% year-over-year increase compared to fiscal 2019.
“Throughout the year, we’ve added higher margin
business and improved our operational efficiency, both of which are
driving a more profitable year than we originally
anticipated,” said WidePoint’s CEO, Jin Kang. “By
nearly every metric, fiscal 2020 will be a record year for
WidePoint. We look forward to leveraging the momentum of this year
to build a stronger organization that will continue to prosper for
many years to come.”
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