Arizona Tribune - WidePoint Highlights 2024 Operational Developments and 2025 Strategic Priorities

• $52.7 million contract awards in 2024, of which $45.2 million was from Federal agencies and $7.5 million from commercial organizations.

• Successful development, testing, and deployment of the MobileAnchor Digital Credential solution. Company signed two contracts with federal defense and civilian agencies in connection with its MobileAnchor solution.

• FedRAMP status advanced to the in-process "finalization" phase, the last step before achieving FedRAMP "Authorized" status.

• Subsidiary Soft-Ex Communications launched M365 Analyzer.

• Maintained Authority to Operate (ATO) with both DHS and the U.S. Department of Justice confirming the strength of WidePoint's cybersecurity infrastructure.

• Finalized the integration of its subsidiary, IT Authorities, which helps WidePoint become a full-service federal integrator.

• Fully implemented notable contracts, including Federal Emergency Management Agency (FEMA) and a major quasi-government agency.

• Notable contractual awards, including being selected for the $2.7 billion Spiral 4 contract and awarded the $254 million ceiling increase in its DHS CWMS 2.0 contract.

2025 Strategic Priorities

Since 2023, WidePoint has prioritized continued investment in its sales and marketing team and capabilities, yielding strong results that have driven its financial growth through 2024. Looking ahead, WidePoint plans to maintain its focus on sales and marketing strategies while exploring strategic partnerships to leverage its resources and relationships. This approach aims to strengthen customer relationships, expand WidePoint's reach, and unlock new opportunities to secure additional contracts.

The development of MobileAnchor, launch of M365 Analyzer, the full integration of its subsidiary IT Authorities, and continued investments in sales and marketing have positioned WidePoint to maintain its momentum into 2025. With much of the work surrounding MobileAnchor focused on SaaS revenue, the Company is well-positioned to capture a significant share of the mobile digital credential market, further diversifying WidePoint's revenue streams. Additionally, the recent launch of M356 Analyzer by Soft-ex offers businesses and government agencies a valuable tool for optimizing their Microsoft infrastructures.

An example of the strategic partnerships WidePoint aims to pursue is the recent Device as a Service (DaaS) partnership program with one of the industry's most respected systems integrators. This DaaS opportunity provides WidePoint with a new avenue in the commercial sector that is expected to result in strong returns. Additionally, more than 90% of the opportunities seen across the DaaS program are commercial clients, particularly across highly regulated industries such as finance, healthcare, and transportation, further expanding WidePoint's commercial pipeline and diversifying its customer portfolio outside of governmental entities.

WidePoint remains optimistic and anticipates receiving FedRAMP Authorized status in the coming months. The FedRAMP initiative represents a multi-year investment that will set WidePoint apart from our industry peers. Achieving the highest security standards serves as a seal of trust and credibility, demonstrating that WidePoint's ITMS solution is both reliable and capable of safeguarding sensitive federal data against cyber threats. FedRAMP full Authorized status unlocks substantial business opportunities within the U.S. government sector. WidePoint intends to leverage both MobileAnchor and its upcoming FedRAMP full authorization status to expand its contract backlog, secure meaningful work from IDIQ contracts such as Spiral 4, and position itself competitively for upcoming billion-dollar federal contract opportunities to drive bottom-line growth in 2025.

Kang added, "In line with our business development strategies, we are proud to announce that WidePoint's solutions have been recognized in Gartner's new Market Guide for Telecom Expense Management Services, Global. The Market Guide provides a comprehensive overview of the TEM industry and includes market trends and customer feedback. Inclusion in the Gartner's TEM Market Guide confirms WidePoint's position in the marketplace as a major TEM provider."

Further details and discussion of operational and financial results will be included in the fourth quarter and full year 2024 earnings release and conference call.

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