WidePoint (WYY) Lytham Partners Fall 2024 Investor Conference summary

Company overview and market context

• Technology as a Service provider with 95% recurring revenue and $320M contract backlog.

• Zero bank debt, $4M in cash at Q2 2024, and 28 consecutive quarters of EBITDA positive results.

• Trailing 12-month revenue of $120M and EBITDA of $2M; insiders own 19% of shares.

• Addressable market estimated at $36B, driven by rising cyber threats and remote work trends.

• Solutions target federal, state, local governments, and large commercial enterprises.

Core competencies and differentiators

• Leading provider of secure mobility solutions with unique, never-hacked identity and access management.

• Multi-factor authentication solution is quantum-resistant and used by all federal agencies, including DoD.

• Owns IP for all solutions, including secure digital billing, analytics, and IT lifecycle support.

• Delivering solutions via SaaS model, nearing FedRAMP authorization for federal work.

• Over 18,000 enterprises use its authentication solution, foundational for Zero Trust Security.

Recent developments and contract highlights

• Infrastructure established to issue identity credentials for commercial use, gaining traction.

• Marquee contract with DHS (CWMS 2.0) increased to $754M ceiling; over $500M captured to date.

• DHS preparing CWMS 3.0, expected to be a 10-year, $1.5B contract; company well-positioned.

• Awarded Spiral 4 contract ($2.7B ceiling) with deal flow expected in Q4 2024 or Q1 2025.

• Pursuing NASA SEWP VI contract ($60B ceiling) and other large opportunities.