WYY - Earnings call transcript Q4 2018

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Operator

Good afternoon and welcome to WidePoint’s Fourth Quarter and Full Year 2018 Earnings Conference Call. My name is Hector and I will be your operator for today’s call.

Joining us for today’s presentation is WidePoint’s President and CEO, Jin Kang; Chief Sales and Marketing Officer, Jason Holloway; and CFO, Kito Mussa. [Operator Instructions] Before we begin the call, I would like to provide WidePoint’s Safe Harbor statement that includes cautions regarding forward-looking statements made during this call. The matters discussed in this conference call may include forward-looking statements regarding future events and the future performance of WidePoint Corporation that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. are Securities the and uncertainties filed Form and the with Exchange risks described company’s in XX-K These Commission.

link for Finally, everyone I website via at available the that remind Investor a replay this call www.widepoint.com. section would will be company’s like of in the to Relations made

to Sir, Now, please I over would CEO, and turn to President like proceed. Mr. call the WidePoint’s Jin Kang.

Jin Kang

what for you and review gross strong highlighted business. From by all afternoon quarter profit million. to all. was fourth results for a our us operator to to a was fourth good increase you, for XX% full and quarter Thank revenues Thank a in finish and to $X.X the a joining pivotal a $XX.X today financial year The in year financial the increase quarter you to XXXX. our million a perspective, XX% was

Additionally, this consecutive our year from million last improved EBITDA. adjusted $X in million marking of QX year, $X.X in adjusted of positive EBITDA QX our of to quarter sixth

full For a $XX.X to record increased XX% by revenue million. year, the

the $X.X loss million of Our from million loss to to adjusted EBITDA year and XXXX. for narrowed improved a from GAAP $X.X XXXX in $X.X million net in million positive $X.X our

earnings remember may revenues from adjusted we you in As million our call, $XX in $XX EBITDA. million last to projected and million $X.X

we were two The execution the to we goals strategy success effective achieved that that accurate. XXXX. overall achieved fourth fairly of our XXXX. is year key am full in in projections a quarter our our encouraged for the So and we direct report exceeded of I the in result

have combined TMX. Trusted company cohesive and Management, products we or into as of solutions drive stabilization the profitable sustainable the half on first of completed the the in year calls, Mobility to internal completed single began we offering our of I prior growth. called the of our strong, And much re-branding successfully and offerings of the business and we and secondly, discussed restructuring a First,

But will of operational one unified into company. our be revenue dive we Kito the into As specifics focusing we of will would of financial successes attention had on increasing some Jason of a our XXXX, in we overall strategy high more forward. of and few past how into I and to In overview like first, minutes, level a look they our as give the the successes. year path and and some fit have

As to our barriers down among are by a cross-selling we departments, opportunities three internal between verticals. breaking reminder, several significant able create

the a legacy with and Center are provides Naval for work perfect management to low with able offerings terms. service favorable contracts of margin renegotiate high to some our also margin expanding more We with DHS identity Analyses this. Our solutions examples were contractor the that

a place, substantial of cross-sell. proud new accelerated recognize of over current the are can customers of you of if that have whom and that you out we customers time. deal spent While sustain cross-selling for business. isn’t customers, to we great taken we you growth successes land cross-selling Therefore, run new attention enough also don’t eventually securing contractors, our Obviously, to new

XXX compliance additional end, our progress with July During various many and be our choose be would without XXXX, Department from an and To Security Homeland we organizations. it the Section others. CSG Management our of in space platform, solution in competitors. In stamp makes our a May. ITMS, operate the they proper impossible that is we to each easy customers with new Guard, decision Coast credentials acquire for increase only approval Telecom significant for made CDWG, contracts the probability headquarters also credential but our that compliance we customers for to make improving not authorization including won significantly compliance, running the of over several received significant we XXXX, and bolstering to Lifecycle the contracts and government many in achieve In our in will

completed some the We keep solution the the in our is us details all curious. The quality beat authorization But we also and IdM are of to to our available have in of primary what’s these important we the will continue reasons Administration. for frequently you XXXX number audit Services our broader to beat operate picture. who or to for of of General the April for the releases certifications and maintain certifications mind of are our successfully press corresponding The in from those competitors.

what not of of business. no the importance obviously only to winning product quality service any is critical but In certifications product competitive the Our customers sustainable offer staff services the a we our and component new of many we your combined and advantage. and our create believe is unique business, different. significant, be are business with and Certifications the to and professional quality to

For good our that also we of develop product and to improving reason, continuing a our portion year suite. spent current

to was they of that for already full solution them our mobile a empower I our enables our the into has customers As mentioned, devices, us. provide a entity We secure us are space milestone used. have to in how remain big and with insight the TMX manage launch the being suite only ability that

we function of we improve Therefore, IdM and to effective the we progress of it always are to made must past year, some believe TMX. well for each solution it enhancing the However, solution independently. element each to our working be, be solution. solid to function This TMX component in for

the what as capabilities Certificate-on-Device to our the industry improved we certificates. derived commonly referred leveraging by Specifically,

gain work original mobile the embedded to to to with the on devices. access equipment manufacturers encrypted continue We chip

access control to also card. access relying on vendors physical soldered various the IdM our rather are RFID physical working for the We on with solution utilize than control identity

does than not in method capability since provides this currently to solution the of We each security level believe is higher identity coupled RFID exist market. Our that a the individual. an card

believe represents are us that our continued solution it us. for a lot IdM So, new specific has product the potential with for excited are we forward of set. making and a this whole going progress We opportunity about we

progress significant preparing year made a topic us a the this push on for toward GovCloud to move on later More It’s and the our in FedRAMP been operationally and we system quite certification. both attaining for Additionally, presentation. our financially.

with are by credentials to bolstering advantage now generating started. is The place currently this continued We momentum our new due largest we enjoying in internal much we solution business, competitive company’s more than and positive healthy changes. success we means where a The are company that are combined our our landing to-date. our

us before his about specifics the But for our I turn I go of our our with extremely am who expectations, ahead, over some general in as All financial contracts discuss detail as to XXXX performance then details of call for our to sales Jason. XXXX. this remarks. will into and of will Please Jason, provide the to strategy updates new makes Kito and go optimistic on well marketing follow recent prepared our going strategy.

Jason Holloway

Thank you, Jin.

As quarter in his remarks, it’s a of mentioned the us no Jin been exception. fourth was for busy XXXX year and

and this QX new QX. third implementing a very contract as the at we announced pleased commercial of CSG a As our work quarter to with International in began secured call, were in have we customer end the

providers a For partner trusted is for global those you and familiar services wireline. wireless to less the communication the both of with organization, considered top CSG

& to Bill integrating with joint along are management a platform CSG market we reminder, to our customer a Solutions, existing and deliver As Presentment new Analytics communications CSG proposition both clients.

care communications digital been our to customer to has the to this billing in be and analytics the I for omni-channel costs. to deliver an implementation partner tandem reduce expect pleased continue extremely fruitful We both well we customer enhance report been duration the and of contract. going am with working and solution to have that it experience

these of Protection contract, As on Leidos our quarter working recent at our you with the include new many for will U.S. Naval press Analyses. from start expansion our the with notable were and of The contracts, with actually Customs fruition NASA’s the to we the work Border the contracts noticed on the Center and the have came partnership fourth year. Nest most in releases, of our

Given QX be top will of the contracts these line the effects timing until later. not many and of manifested, when visible XXXX on our

like would tie few into a broader to moments how strategy. take they growth discuss I our to However,

As with entrenched calls, partner been discussed a of systems previous leading generating on strategy sales we major and continues to have has component to new this of effective integrators our means business. an be

we a the great For one, a staff the existing Instead systems deal us enable to sales more a several leaner able sales are maintain than had of team ago. years of and integrators. overhead, large carrying partnerships we leverage of and these maintaining effective teams much to

our are we that imply team more doesn’t disinterested that to sales growing aggressively. sell in Now,

with to power strong relationships. recently delivering partners services efficiently, opportunities that to establish personnel solution trusted sales mission. direct They do of to new two January. to place are contract and Leidos effectively penetrate have added actually these us another new Leidos, able recently Leidos management we WidePoint a with we managed hear need support once to a our frequently with providing customer our more But mobility and This allow base were of their confidence the in component partnerships contrary, provide of also provide solution partnership the name one On us demand NASA organizations of from we markets. TMX our mobility cases, with is kind a of additional Under We we In list because example pursuing. systems be diversify this doors partner effectively in many to as set. for it, contract and customer, solution the us, volumes to with bolster increase CSG, And clients. and as new as in are profitably. Widepoint’s these relationships relationship partnering sell struggle up integrators certainly awarded our is they sales the portion to would By Like of new cases support the without many to to solutions. agency’s secure to by another adding from partners our opens efficacy the on and at a of this speaks with it sure to contracts reputation least or our want benefit that we in the market well. and they find its critical

higher primary to addition margin more In our securing top has line, goal contracts. our customers been add more one to grow of to

this are that both U.S. For has revenue award you services. proves the this who other players a strategic our that products services. logical capable of pursue our strategy both have Under more those goal more our know seen And to Customs success government of managed up users. effective. into is from higher agreement, our with current is the financial our in these devices expansion announcement of increased lasts negotiating both previous and for partners government increase dug the from while that. as margin signals XX,XXX. this a contracts the XX% we on the also predominantly perspective, are means some management From our of this the The of that continuing focusing contracts, margin of and services to negotiating by commercial-to-government contracts and as funding the profile, and from ratio contracts of task we has commercial to value example we managed well. higher for for space of order a a recent Protection From that managed to one are to margin of and great and great are great services been you of Border order the CBP Many XX,XXX of in have perspective, the new market carrier driving a similar commercial with

recent of a is or our Center example management the Naval CNA. was identity with Another customer. CNA win already Analyses long-time

up-sell, the wireline cross-sell offering expand and of to service were we to management. include able part As our wireless significantly initiatives, telecom

the of at XXXX negotiations, while that speed look we ability am were the execute simply affected remains put the witnessed our start negotiations wondering confident I on did XXXX, I you sales a you the year. we the minor did never halted our sure They cycle. that it. despite team in were macro nor strategy of tell our see slowdown government are to of opportunities these vanish. continue opened in the begin the to our terms of how The That can and secured start we comes backburner. for a contractors to two significant shutdown business add anything is. during period trying that at that indicates and the how many government of As very should of many new contracts events peace we mind our fact if resilient confidence

on of updates the won’t our next seen and healthy ways, specific our XXXX will I in a remains net up-sell state specifics timing call, we extremely anticipated closing current are deals contracts, to remain go array of we new which pipeline robust. new diverse the have of success will due previous In to many we but any a optimistic number remains of regarding We of in but more growth say similar that that on call very for have now, into year. the strategy this I for industries. the currently

are going We opportunities. steady a continue to pipeline and federal enterprise both develop to of commercial

maintain in Jin relationships base platform to leading our new commercial continue developing pursue remain leader. and and to As to are our margins. products we push to strategic mentioned, an into large We integrators the expand And proprietary order plan to build systems and next-gen we our with opportunities. are enhancing diversify enterprise revenue partnerships space going industry to

team, all continued aggressive execution. towards systems and is managing truly focus about measurable results. is show our the and integrators believe starting heads For to XXXX some sales sales the and down approach I really

the ignited, the With fire. it need we hand that is gasoline over that, engine Kito. to Now I to to some add will sales just

Kito Mussa

Thank you, Jason.

of profit our release, are net deliver future to a we receiving goal. earnings produce margins, adjusted gross revenues, goal remains the positive and we GAAP in It progress record ours EBITDA. outlined finished continuing press year eventually with to As make positive towards narrow that and in improved losses our

ended X December XXXX. for full our month XX, results Let’s the and now year year full discuss results

year services quarter XXXX, to managed our million fourth by million XX% growth increased the in carrier services. growth last $XX.X from For of driven X% $XX.X XX% revenue and in

Guard to of as our Our part managed customers services Coast due and cross-selling increased strategies. sales accessories year U.S. carrier of rose on strong the to services end of And our on-boarding. up-selling

restructuring fourth XXXX revenue or from Our Operating from for of for million million XXXX been $X.X in year. million million total expense expense to or have We driven total GAAP deferred goodwill. of to decreased XX% increased quarter gross positive in of $X.X million quarter our tax the $X.X realized by from fourth savings last $X.X million XX% basis fourth in last related not XXXX of $X.X profit loss the charge the XX% $X.X year. to $X.X quarter net would non-recurring actions. million XX% from of of last revenue narrowed amortization to GAAP year tax our if

revenues services increased driven direct from XX% managed X% and services of and our year to XX% million as year, implementations by full was expansion million current both This $XX.X services. result the Jin. For and in $XX.X last by year growth mentioned Jason a of managed carrier in customer growth

total profit to as primarily of gross revenue full to our The was or XX% last increased XX% performance. revenue fourth total profit Our $XX.X year XXXX. driven in from quarter dollars million year in $XX.X or XX% by gross improvement of million compared

compared realized Operating XXXX expense the XX% XX% to in gross in to by our actions result in as restructuring was last services, our XXXX $XX.X of $XX.X driven million decreased from taken to quarter the as fourth million streamline business of savings XX% carrier XXXX. Excluding a profit year.

expense $X.X year. our $X non-recurring not tax up far For goodwill. million in of basis of quarter narrowed have better been increased basis, both GAAP deferred adjusted to XXXX. EBITDA quarter million loss from the XXXX to million in a year GAAP XXXX, year fourth loss for XXXX the full full million $X.X $X.X The tax of $X.X net and improvements would charge million our non-GAAP last amortization for from net fourth On in related if to

represents million, capital increased loss to a cash, available million $X.X $X.X quarters net million one full we it For and from up credit history. Jin in facility. And quarter the the strongest XXXX, $X.X of year in adjusted balance year. working million the last of approximately of the in million gears to drawdown of fourth fourth adjusted and with also Shifting $X.X $X our sheet, positive quarter quarter exited earlier, of company consecutive as mentioned marked sixth EBITDA EBITDA the our

temporarily process February of of employees. the Our as cash position between XXXX our of invoices that was remained due furloughing to many government occurred December and on government of XXXX shutdown affected government by

EBITDA, our invoices of to quarter provided to adjusted up short-term are cash access and credit of ability our are gradually remains to improve the need expect collect line services position to extended manage We shutdown should it government and there additional no positive rendered. affect for time, shutdowns short-term each favorable reserves our building have the cash federal their we manage that At our government arise. our we to operational our present with requirements,

I would Jim, over it last we financial like to improve to progress turn I made results. back Before over significant our quarters that to six reiterate the

already eager to start these XXXX, the will top that work believe high for wins recompete. services. at win and and improve new to our several Looking to we continue as delivering significant bottom announced line of DHS are prepare and have continue we margin we We begin the managed

excited are we work completes continue to hard our financial will and goals. meet my about We future financial summary. the to This

detailed a to please XX-K analysis Form results, our our intend of file next business in which few we days. more financial reference the For

like that, turn Jin. to with I it to back over So would

Jin Kang

Kito. Jason. you, Thank you, Thank

of WidePoint for met customer implemented relationships team our and results expanded delivered our these XXXX. and ensure goals actions, XXXX we As the in and financial in customer XXXX. contracts clearly combination us performance and strong continued success closed retained new that demonstrates entire financial key The positioned

investors relatively position we the long-term relative to XXXX financial good year. our in of many started As previous know,

more that short such the to by do people, many reflect has the I’m the this high-quality to remarkable valued to solution It’s stabilize customers. team done our in us proud continue to of thanks successful on work our have what on whom stronger, in efforts turn are next impossible. of It’s now this WidePoint work While extend was are significant taking call move and of time on worth to with some goals profitability. and the the our ensure WidePoint close of ago. incredible efficient taken deliver X order. to achieving everyone of more in around and chapter story company almost and initially our incredibly That much I’d growth ready company we of even our to mission effort XXXX, with years to team, and to like still we we amount completion than not achievement to the and seemed more the said, chapter is like today. at gratitude it capable our for business and

So, it’s we’re what we running so with far, proud that of stating stable worth a from while merely far we’ve business. satisfied accomplished are

team have to complacent. we’re in and finally invested are capital has leadership time, towards and senior geared into that intention a significant firmly we this of no significant good that company a consider driving value. options Your strategic believe long-term personally of various amount and personal sustainable effort shareholder becoming We position

federal partners. are working both earlier, expanding on commercial strategic opportunities, products, outlined we tandem Jason proprietary pushing the and space, with focused and our commercial more As and in increasing improving platforms into more our margins,

strategic acquisitions customer and our also accretive base. We’re open pursuing and to solution our to expand

cloud government that a approach One for their to compliant. government partners continuous authorization, services. a provides solutions coming are FedRAMP standardized GovCloud FedRAMP federally goals monitoring is security and ITMS thereafter. and of cloud secure flexibility year for receive to products our customers specific program architect and receive to that to and the assessment, GovCloud provides is wide a for certification approval

and and the in prevents growth so but large a more solutions later that attaining could Our FedRAMP be to delivered competitors GovCloud updates driver customers. have effort TMX tuned. cloud, will stay approval we year, from certification us on our a our add moat believe for are accessing I the a to the already this

as products on our in sales growth. services, our continue invest as well We will to and also and marketing enhance to spur

in full-year the $XX and to future $X.X to preliminary continue we’re and coming million. market. our million look million to we to prospects be As for $XX Therefore, about $X successful revenue we our adjusted providing ability competitive of guidance are year, EBITDA optimistic million our to

patient our the and to focus full-year performance and marketing mentioned. thank shareholders our on EBITDA investments done to I financial mission. our is WidePoint sales us intend hard We trusting as and for this not they additional development I results give quarterly in adjusted team work reflect objectives. Our and to do. have previously thank also as guidance do again long-term goal the maintain to loyal continue with product is for entire our

covered, major open will We’re the all our updating we and questions shareholders excited our With in for of ready to call about analysts. to on for look take outlook And call. that questions. you next position we from are XXXX. you please the are and forward our we Operator,

Operator

At question be your comes from this with first FBR. Mike Our time, will a Riley Instructions] Crawford question-and-answer conducting Please proceed we question. [Operator session. B. line with of the

Mike Crawford

little combined Thanks. from and amount that’s to any including these in for given you’re marketing year based early investments I’m preventing leverage in $X operating are Hey, XXXX was enjoying looking fact potential sales managed certain Coast greater talking company chasing at at the unclear $X up a revenue the in services Jason about then XXXX, XXXX Jin, guidance growth mix your the the the with operating of end replacing wins leverage you’re contracts guidance? the having negative what million improving and revenue of and making that the that that on Guard with ramping million

Kito Mussa

get to hi, this we’ve our stabilize the one To was answer your company. a Kito. that on things is about talked few the first of Mike, that, to the earnings question, goal is calls Hi, of

mentioned fresh it trying these money long-term have can. able sales. great to contracts. and but on move a really that grow to marketing we order into point, as a do to a definitely to of as forward, have up some in do definitely the in in and people the here effectively to some to remarks, business we we’re means people and job inject company to sales We’ve to Jin to That his try as As targeting network get mix need our it’s some be we done this business, relationship our spend

we’re We’ll ways reasons make of off. this continue one it work other pays margin. the that’s growing net and effort have to our So, trying EBITDA our to to that that year to get on that investment and

Mike Crawford

Okay.

like So, it’s increased and have personnel you it sales people marketing far yet sounds in primarily plus XXXX? so hired

Jin Kang

hey Yes, Mike, is rebranding has Jin, TMX. as level also investing this as senior also Jason the two resource, Jason not our only – at mentioned looking sales our in that we sales hire did Management, we’re but Trusted we’re around Mobility resources,

our looking also We’re revamping website. at

I We’re about as also mentioned some development at GovCloud. looking earlier the product

We’re putting what facility. our FedRAMP call looking solutions into they at certified

going going things not money that be performance forward. are hurt and to going spending investing, like these to going of be sailors, but our so drunken don’t all So, it we’re we we very we’re to do carefully,

Mike Crawford

we see us And Okay. update Department provide can Homeland RFI then for of and might on you the when Thanks, on Jin. an an thoughts your Security? RFP

Jin Kang

Sure.

that until quarter. XXXX. mentioned Homeland I till year, we allow that of quarter either out that fourth the shutdown that and sign end the the third will do again award think go BPA to come will the did contract the that For extent likely contract is for previous this press the to RFP the Department June slow it of does the to June but said, we is the perhaps up the – the XXXX. of extended think or – with to the was that that out of probably the government CWMS modified have be us we RFP With extended Security, releases it’s and the in believe will contracts an so year process, of towards end What RFI

Mike Crawford

you Thank much. great. very Okay,

Jin Kang

welcome. you. Thank You’re

Kito Mussa

Thank you, Mike.

Operator

line question Global proceed question. with Alliance Brian the of Kinstlinger comes next Our Please from Partners. your with

Brian Kinstlinger

the you curious I’m marketing, in total what value much. quantify proposals versus ‘XX the XXXX increased with and the bookings plan you can and to so of XXXX? submit sales thanks submissions were Great, in in then investments in

Jin Kang

probably In our in think the go terms somewhere slide of bookings logos look, a our I to it’s we investor a revenue. our you there but contract website, deck – see total back I that – million presentation was roughly want $XX XXXX that take we slide can and and on it is added in and in our around

$XX was recurring million. of terms In revenues, approximately it

if add XXXX XXXX for roughly it’s of you million you numbers, kind projected $XX our revenues. what our to So, top-line get

In terms of of in works. a lot XXXX our pipeline, we have the opportunities

likely may haven’t terms guidance in $XX offered comfortable we’re that but to million million think $XX going We any of to forecast in close, what we we’re the of and we top mark.

Brian Kinstlinger

increased how Yes, in resources? XXXX is sorry, actually me very tell you in more how maybe wouldn’t much I’m to much XXXX it ask going of close. with your you plan more I interested I course, you’re misunderstood, much in to to how bid and

Kito Mussa

this one Kito. is Yes, –

in what – the in like haven’t I know investors, pipeline. over a our I’d Jin very we definitely really that but strong our It’s past gone things we far an of point from we of sticking as of this potentially guidance we’re what come something mentioned, one of you of the think that’s reiterate we One it’s as kind to point saying At was might the that. time gave to idea reasons guidance. give all

Brian Kinstlinger

Okay. if is guidance, that at we of last what’s from much backlog? signed the revenue of in then how my coming look question your low-end And is, already

Kito Mussa

all much of pretty it. Well,

Jin Kang

Yes.

Kito Mussa

do these Jin we close the run add when that we these are rate a we mentioned, additional look When So, it. of but these, us. deals one I mean, – will know when our refer close win is to business these deals, is long-term for we you are recurring lot with things the at of – business as our to recurring

that these So, plus, $XX just annual time add to add – the we we on to close deals, our if million, rate. million year we $XX at every had run we continue

that’s the way kind of at it So, we look on this.

Brian Kinstlinger

go So, but the clear sign new the the need won that $XX your you’ve right? that ramping achieve base of million to are business plus the already year, you just represents million. to to $XX over contracts contracts Is be don’t

Jin Kang

that’s fair very I – a – low the think think the that’s $XX we’re I number. think a on is that confident statement, million I watermark

Brian Kinstlinger

so Great, okay, thanks much.

Jin Kang

thank you, Brian. thank you, Okay,

Kito Mussa

Thank you.

Operator

next [Operator William your Capital Our Please question Partners. ROTH Instructions] comes question. proceed line from the Gibson of with with

William Gibson

Thank you.

on a color industries industries Could that a going industries security more these, most and there side opportunities. You after leg-up commented it you what commercial in after covered? little the as of give I is diverse a array us gives mean, and well specifically you going are briefly pretty

Jin Kang

that affinity is, for as healthcare, answer local. to industries state, don’t have footprint any any do transportation, And such we particular a large aviation, and question. we have industry, the governments, in you logistics, but Thank particular

have we these in base So, do customer areas.

more Trusted every that one that one Mobility to of is Our needs able every assets, customers Management. mobile, the customers’ applicability we say there’s providing billion we securing talking for be these devices mobility these when know, as hooking mobility to more the that some usage mean enterprises to Mobility they across And computers say we’re visibility board, going managing you And of of assets. of of mobility the what XX.X our assets to is Internet. assets, there’s and up goes and Trusted large those be that going and by our those Management could is, because provide are about our

whether So, the security manageability, visibility machine-to-machine what those smartphones for be devices, provide is, they’d we and devices, or we okay. do

a huge is want into the are us And anything markets. important or and item the those see are market. those in working customers going are to that that? that And are current in move weeks of leveraging leverage that customers security so community, few to then you also Jason, add leverage that square coming go markets puts the will our for to out, things things press a which do do yes, those our healthcare and that. continue is working in to we to there next couple so, And to a transportation with very we’re the platform there releases community, we’re we us and TMX And with you that

Jason Holloway

a different as spaces add other discussed add covered, are to in level and security also I to that, those so the always and little going seeing security a Yes, has levels Hey, day, the – to that said we much of in those very commercial industry leg-up of was sure. the essentially because regulatory-driven you enterprise it the the to industry environment, that’s commercial Bill, areas. highest the pretty bit where – strong WidePoint specifically forget there’s when day. nice the out providing other you wanted itself has that don’t security But WidePoint to

interacting enterprise to interacting all of the federal that level types So, require going to of at Mobility clients, those either are for commercial Trusted going DoD the who is or or be want bring Services federal still as directly to to going they’re others the and security. or we such finance, be government who or DoD, interacting with the that type then may PKI-enabled table not healthcare maybe the

So, that I to just add well. wanted as

William Gibson

Okay, thank you. could or And thoughts share general you some comments one the seasonality follow-up, then on in business? just

Jin Kang

Sure.

business the our of our And fiscal to the a the is lot do the in usually there’s familiar of a corresponds of have terms fourth in government. portion because heads spending we spending, government as large of our the into federal if government, it over with new a which quarter. for you’re XX% little federal is year business seasonality So,

And spending this in because but see as see year our seasonality October but revenue a be not a the of so quarter is then however, customer as little quarter strong and flatter, definitely make we’ll our the there base. of large we’ll beginning strong to end continue first towards that’s government a progress, quarter, fourth first our quarter and of September, will of you’ll lot the is

William Gibson

thank Good, you.

Operator

you. concludes question-and-answer At our this time, Thank session. this

Kang now call please I’d Mr. WidePoint’s to over was to turn back his IR contact If team remarks. taken, like WYY@liolios.com. the your Jin at not for question closing

Jin Kang

operator. you, Thank taking to the We everyone join today. appreciate us time

if did team. As the any contact we there our were address please today, not IR operator questions mentioned,

earnings have You a their and We evening. all excuse next the look earnings call. full our me you information great on with at – can contact forward call connecting again and of today’s find thank to earnings bottom you again release,

WidePoint (WYY) 22 Mar 192018 Q4 Earnings call transcript