Q2 2025 WidePoint Corp Earnings Call

As for today's presentation are wide points, President and CEO Jin Kang Chief revenue Officer, Jason Holloway, and Chief Financial Officer, Robert George.

Following their remarks, we will open the call for questions from White points publishing analysts.

If your questions were not taken today and you would like additional information. Please contact wide points Investor relations team at W. Y Y at Gateway Hyphen G. R. P dot com.

Before we begin the call I would like to provide <unk> safe Harbor statement that includes cautions regarding forward looking statements made during this call.

Speaker #1: Good afternoon, ladies and gentlemen, and thank you for your patience. Your conference will begin shortly. Once again, thank you for your patience. Your conference will begin shortly.

Matthew (Operator): Good afternoon, ladies and gentlemen, and thank you for your patience. Your conference will begin shortly. Once again, thank you for your patience. Your conference will begin shortly. Good afternoon. Welcome to WidePoint's second quarter 2025 earnings conference call. My name is Matthew, and I'll be your operator for today's call. Joining us for today's presentation are WidePoint's President and CEO, Jin Kang, Chief Revenue Officer, Jason Holloway, and Chief Financial Officer, Robert George. Following their remarks, we will open the call for questions from WidePoint's publishing analysts. If your questions were not taken today and you'd like additional information, please contact WidePoint's Investor Relations team at wyy@gateway-grp.com. 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 future performance of <unk> Corporation that involve risks and uncertainties that could cause actual results to differ materially from those anticipated.

These risks and uncertainties are described in the company's Form 10-Q filed with the Securities and Exchange Commission.

Finally, I'd like to remind everyone that this call will be made available for replay via a link in the Investor Relations section of the company's website at Www Dot Wi point Dot com.

And now I'd like to turn the call over to wide points, President and CEO, Mr. Jin Kang Sir Please proceed.

Thank you operator, and good afternoon, everyone. We appreciate you joining us today to review <unk> financial and operational results for the second quarter ended June 32025.

This past quarter was a continuation of the deliberate steps, we have been taking to position Wi poised for long term sustainable growth.

Among the most compelling opportunities on the horizon is the upcoming Recompete of the department of Homeland Security CDW EMS 3.0 contract.

In June the draft request for proposal or RFP was released and we have since responded to DHS and provided the requested information.

We were pleased to find that the RFP requirements aligns closely with our ongoing work with DHS.

As a two time incumbent our strong past performance underscores the alignment between the scope of work outlined by DHS and our current service portfolio and capabilities, including our enhanced IP as a service solutions.

The new statement of work place directly on our core strengths.

It requires fed ramp authorized status a box, we proudly checked with our fed ramp authorized intelligent technology management system or <unk>.

<unk> is already the system of record and operational hub for DHS.

We believe that this is a powerful validation of the trust the DHS places in <unk>.

And the critical role our technology plays in supporting their mission and operations.

There are several other key requirements that position <unk> well ahead of other firms competing alongside us the.

Contract mandates that small business status a criterion. We meet in addition, we bring a robust track record of past performance active Ato, our authorization to operate with DHS and the necessary facility security clearance all of which positions us well ahead of many competing firms.

The government has also indicated that this will be a best value award, meaning technical solution past performance and reliability will matter more than cost.

Again, given that we are two time incumbent with a proven history of delivering high quality mission alive solutions to DHS.

That is an encouraging sign for us and plays directly to our strengths.

We have adopted a comprehensive all hands on deck approach to our pursuit strategy.

Internally, we are holding weekly strategy meetings to coordinate efforts across teams to maintain alignment and momentum exterran.

Externally, we are actively evaluating additional investment and support staff, including the hiring of specialized consultants to ensure we present, an even more compelling and polished proposal.

To further reinforce our readiness, we have set up a full PMO model complete with backup contingency resources to ensure seamless uninterrupted support for DHS from day one.

The substantial increase in the contract ceiling, which stands at $3 billion up from the original $500 million ceiling under the <unk> to point out.

As a strong signal of DHS as growing demand for our solutions and presents a significant opportunity for Wi Fi.

Notably.

We already have been awarded task orders that extends through November 2026 under the currency WNS to point out.

Giving us continuity stability and forward momentum during this recompete and contract transition period.

The federal government typically prefers contracts overlap to ensure uninterrupted service delivery.

As existing Cwm's viewpoint on task order. It begins to expire we anticipate new task orders will be issued under the <unk> contract to minimize the risk of service gaps.

Speaker #1: Good afternoon. Welcome to WidePoint Second Quarter 2025 earnings conference call. My name is Matthew, and I'll be your operator for today's call. Joining us for today's presentation are WidePoint's president and CEO, Jin Kang, Chief Revenue Officer, Jason Holloway, and Chief Financial Officer, Robert George.

This leads us to believe that the final RF Q.

Could be released very soon.

While the final requirements may still ship the initial target for the RFP release was the end of July.

Speaker #1: Following their remarks, we will open the call for questions from WidePoint's publishing analysts. If your questions were not taken today and you'd like additional information, please contact WidePoint's investor relations team at wyy@gateway-grp.com.

So we do anticipate it could be issued at anytime now the.

The government anticipate awarding the contract by the end of September 2025, however, considering the typical procurement timelines and potential for external factors. We recognize that the actual award may realistically occur closer to the end of this year.

Speaker #1: 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 future performance of WidePoint Corporation that involve risks and uncertainties that could cause actual results to differ materially from those anticipated.

Matthew (Operator): The matters discussed in this conference call may include forward-looking statements regarding future events and future performance of WidePoint Corporation that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. These risks and uncertainties are described in the company's Form 10-Q filed with the Securities and Exchange Commission. Finally, I'd like to remind everyone that this call will be made available for replay via a link in the Investor Relations section of the company's website at www.widepoint.com. Now I'd like to turn the call over to WidePoint President and CEO, Mr. Jin Kang. Sir, please proceed.

We have committed significant time resources and strategic focus towards Cwm's three point all to ensure Wi point is well positioned to secure this contract for the third consecutive time.

Speaker #1: These risks and uncertainties are described in the company's Form 10-Q, filed with the Securities and Exchange Commission. Finally, I'd like to remind everyone that this call will be made available for replay via a link in the investor relations section of the company's website at www.wypo.com.

We believe our investments will deliver a strong return and serve as a catalyst for future growth.

Our confidence in this opportunity remains high.

And we continue to view Cwm's three point at all as a critical pillar and Wi <unk> long term growth strategy.

Speaker #1: Now, I'd like to turn the call over to WidePoint's president and CEO, Mr. Jin Kang. Sir, please proceed.

Turning to aspire for.

We are seeing encouraging momentum as new task orders begin to flow in following the exploration of spiral III.

Speaker #4: Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to review WidePoint's financial and operational results for the second quarter ended June 30, 2025.

Jin Kang: Thank you, Operator, and good afternoon, everyone. We appreciate you joining us today to review WidePoint's financial and operational results for the second quarter ended June 30, 2025. This past quarter was a continuation of the deliberate steps we have been taking to position WidePoint for long-term sustainable growth. Among the most compelling opportunities on the horizon is the upcoming recompete of the Department of Homeland Security's CWMS 3.0 contract. In June, the draft Request for Proposal, or RFP, was released, and we have since responded to DHS and provided the requested information. We were pleased to find that the RFP requirements align closely with our ongoing work with DHS. As a two-time incumbent, our strong past performance underscores the alignment between the scope of work outlined by DHS and our current service portfolio and capabilities, including our enhanced IT-as-a-service solutions.

I am pleased to share that <unk> has secured for task orders to date with several more in development and multiple responses submitted to active request for quotes or RF twos.

Speaker #4: This past quarter was a continuation of the deliberate steps we have been taking, to position WidePoint for long-term sustainable growth. Among the most compelling opportunities on the horizon is the upcoming recompete of the Department of Homeland Security CWMS 3.0 contract.

We are confident additional spiral for task orders will continue to be awarded to Wi point on an ongoing opportunistic basis.

While we are competing against some of the largest players in the industry wide point stands out with our ability to deliver multi carrier solutions offering flexibility and value that no. Other remember within the contract vehicle can match.

Speaker #4: In June, the draft request for proposal (RFP) was released. We have since responded to DHS and provided the requested information. We were pleased to find that the RFP requirements aligned closely with our ongoing work with DHS.

We also plan on pushing for expansion of optional services under spiral for particularly around lifecycle management services to deliver greater value to clients and create new pathways for growth and future deal flow.

Speaker #4: As a two-time incumbent, our strong past performance underscores the alignment between the scope of work outlined by DHS and our current service portfolio and capabilities, including our enhanced IT-as-a-Service solutions.

Overall activity on the aspire for continues to trend positively and we remain focused on capturing additional opportunities as they arise.

Speaker #4: The new statement of work placed directly on our core strengths. It requires FedRAMP-authorized status, a box we proudly checked with our FedRAMP-authorized intelligent technology management system or ITMS.

Jin Kang: The new statement of work plays directly on our core strengths. It requires FedRAMP-authorized status, a box we proudly check with our FedRAMP-authorized Intelligent Technology Management System, or ITMS. ITMS is already the system of record and operational hub for DHS. We believe that this is a powerful validation of the trust DHS places in WidePoint and the critical role our technology plays in supporting their mission and operations. There are several other key requirements that position WidePoint well ahead of other firms competing alongside us. The contract mandates small business status, a criterion we meet. In addition, we bring a robust track record of past performance, active ATO, or authorization to operate with DHS, and the necessary facility security clearance, all of which positions us well ahead of many competing firms.

Jason will be sharing more about the opportunities within our device as a service program or das.

But I'd like to provide a brief update on where things stand.

Our das pipeline remained strong and while the timing of some key opportunities have shifted to later than we initially anticipated we remain encouraged by the growing interest and engagement in the program.

Speaker #4: ITMS is already the system of record, and operational hub for DHS. We believe that this is a powerful validation of the trust DHS places in WidePoint.

The investment that we've made throughout the year and the infrastructure for das to support and scale are a clear reflection of our strong belief in its potential to drive meaningful return and long term results.

Speaker #4: And the critical role our technology plays in supporting their mission and operations. There are several other key requirements that position WidePoint well ahead of other firms competing alongside us.

Speaker #4: The contract mandates small business status, a criterion we meet, in addition, we bring a robust track record of past performance, active ATO, or authorization to operate with DHS, and the necessary facility security clearance.

While these investments have and yet translated into results in the first half of the year. They have laid a strong foundation for long term growth.

We would expect a several deals to begin closing by the end of Q1 and into Q2.

Speaker #4: All of which positions us well ahead of many competing firms. The government has also indicated that this will be a best value award, meaning that technical solution, past performance, and reliability will matter more than cost.

But these timelines have extended.

That said, we did secure our first <unk> contract with a federal Health Research Agency <unk>.

Jin Kang: The government has also indicated that this will be a best value award, meaning technical solution, past performance, and reliability will matter more than cost. Again, given that we are a two-time incumbent with a proven history of delivering high-quality, mission-aligned solutions to DHS, that is an encouraging sign for us and plays directly to our strengths. We have adopted a comprehensive, all-hands-on-deck approach to our pursuit strategy. Internally, we are holding weekly strategy meetings to coordinate efforts across teams to maintain alignment and momentum. Externally, we're actively evaluating additional investment and support staff, including the hiring of specialized consultants to ensure we present an even more compelling and polished proposal. To further reinforce our readiness, we have set up a full PMO model, complete with backup contingency resources to ensure seamless, uninterrupted support for DHS from day one.

Delivered in close collaboration with our strategic Fortune 500 partner.

We're confident that this initial win is just the beginning.

Speaker #4: Again, given that we are two-time incumbent with a proven history of delivering high-quality, mission-aligned solutions to DHS, that is an encouraging sign for us.

The momentum Israel. The conversations are active and we are confident that the second half of 2025 and into 2026 will begin to reflect the progress and groundwork we have laid.

Speaker #4: And placed directly to our strengths. We have adopted a comprehensive all-hands-on-deck approach to our pursuit strategy. Internally, we are holding weekly strategy meetings to coordinate efforts across teams, to maintain alignment and momentum.

We are also making meaningful progress in building and expanding our strategic partnerships and important pillar of Wi <unk> long term growth strategy.

We're continuing to invest the necessary time energy resources and mind share into cultivating these relationships.

Speaker #4: Externally, we're actively evaluating additional investment in support staff, including the hiring of specialized consultants to ensure we present an even more compelling and polished proposal.

We firmly believe this strategy will yield tangible results and long term return on investments.

While some near term opportunities similar to what we have experienced with that have experienced delays.

Speaker #4: To further reinforce our readiness, we have set up a full PMO model, complete with backup contingency resources to ensure seamless, uninterrupted support for DHS from day one.

We view our partnership strategy is a foundational investments.

These relationships are not just about immediate wins, but about unlocking access to new markets, expanding our solution offerings and creating joint go to market pathways that can scale over time.

Speaker #4: The substantial increase in the contract ceiling, which stands at $3 billion, up from the original $500 million, ceiling under the CWMS 2.0. It's a strong signal of DHS's growing demand for our solutions and presents a significant opportunity for WidePoint.

Jin Kang: The substantial increase in the contract ceiling, which stands at $3 billion, up from the original $500 million ceiling under the CWMS 2.0, is a strong signal of DHS's growing demand for our solutions and presents a significant opportunity for WidePoint. Notably, we already have been awarded task orders that extend through November 2026 under the current CWMS 2.0, giving us continuity, stability, and forward momentum during this recompete and contract transition period. The federal government typically prefers contracts to overlap to ensure uninterrupted service delivery. As the existing CWMS 2.0 task order begins to expire, we anticipate new task orders will be issued under the CWMS 3.0 contract to minimize the risk of service gaps. This leads us to believe that the final RFP could be released very soon.

In many ways, we're laying the groundwork today for the next phase of wide points evolution.

<unk> brings to the table a robust portfolio of secure high performance solutions that have been battle tested by some of the most demanding government customers.

Speaker #4: Notably, we have already been awarded task orders that extend through November 2026 under the current CWMS 2.0, giving us continuity, stability, and forward momentum during this recompete and contract transition period.

Our track record speaks for itself.

When combined with the strength of our existing partners and the credibility we have earned.

The decision to expand and deepen our partner ecosystem is a strategic imperative.

Speaker #4: The federal government typically prefers contracts to overlap to ensure uninterrupted service delivery. As the existing CWMS 2.0 task order begins to expire, we anticipate new task orders will be issued under the CWMS 3.0 contract to minimize the risk of service gaps.

Not just a growth tactics, but a growth multiplier.

We are confident that this continued investment will expand our reach.

<unk> been up new revenue streams, and ultimately position <unk> for sustained success well into the future.

Regarding our recent fed ramp authorized status. This significant achievement underscores why points commitment to delivering highly secure and compliant cloud services for government agencies, demonstrating our adherence to the most rigorous security standards and solidifying our position as a trust.

Speaker #4: This leads us to believe that the final RFQ could be released very soon. While the final requirements may still shift, the initial target for the RFP release was the end of July.

Jin Kang: While the final requirements may still shift, the initial target for the RFP release was the end of July, so we do anticipate it could be issued at any time now. The government anticipates awarding the contract by the end of September 2025. However, considering the typical procurement timelines and potential for external factors, we recognize that the actual award may realistically occur closer to the end of this year. We have committed significant time, resources, and strategic focus towards CWMS 3.0 to ensure WidePoint is well-positioned to secure this contract for the third consecutive time. We believe our investments will deliver a strong return and serve as a catalyst for future growth. Our confidence in this opportunity remains high, and we continue to view CWMS 3.0 as a critical pillar in WidePoint's long-term growth strategy.

Speaker #4: So we do anticipate it could be issued at any time now. The government anticipates awarding the contract by the end of September 2025. However, considering their typical procurement timelines and the potential for external factors, we recognize that the actual award may realistically occur closer to the end of this year.

Provider in the federal space.

Fed ramp authorized status translates into a very powerful competitive advantage opening doors to nationwide government contracts and foster a confidence in our ability to securely manage sensitive data and mobile solutions.

Speaker #4: We have committed significant time, resources, and strategic focus towards CWMS 3.0, to ensure WidePoint is well positioned to secure this contract for the third consecutive time.

That positions <unk> as the leader in secure compliant technology solutions, boosting our reputation and market reach in the public sector.

Now to provide a quick update on the census, 2030 opportunity.

Speaker #4: We believe our investments will deliver a strong return and serve as a catalyst for future growth. Our confidence in this opportunity remains high. And we continue to view CWMS 3.0 as a critical pillar in WidePoint's long-term growth strategy.

We are starting to see early activity with.

The request for information or RFP expected soon.

Timeline looks similar to the 2020 cycle and we anticipate a comparable scope of work.

Speaker #4: Turning to Spiral 4, we are seeing encouraging momentum as new task orders begin to flow in following the expiration of Spiral 3. I am pleased to share that WidePoint has secured four task orders to date, with several more in development and multiple responses submitted to active requests for quotes, or RFQs.

Jin Kang: Turning to Spiral 4, we are seeing encouraging momentum as new task orders begin to flow in following the expiration of Spiral 3. I am pleased to share that WidePoint has secured four task orders to date, with several more in development and multiple responses submitted to active requests for quotes or RFQs. We are confident additional Spiral 4 task orders will continue to be awarded to WidePoint on an ongoing opportunistic basis. While we are competing against some of the largest players in the industry, WidePoint stands out with our ability to deliver multi-carrier solutions, offering flexibility and value that no other member within the contract vehicle can match. We also plan on pushing for expansion of optional services under Spiral 4, particularly around lifecycle management services, to deliver greater value to clients and create new pathways for growth and future deal flow.

At this time with a smoother path forward free from the unique challenges of the pandemic period.

Despite those challenges in 2020, we deliver flawlessly with zero devices compromised, which speaks to our reliability and ability to support mission critical efforts at scale under any conditions.

Speaker #4: We are confident additional Spiral 4 task orders will continue to be awarded to WidePoint on an ongoing opportunistic basis. While we are competing against some of the largest players in the industry, WidePoint stands out with our ability to deliver multi-carrier solutions, offering flexibility and value that no other member within the contract vehicle can match.

We expect to support and manage roughly 700000 devices and secure mobility and lifecycle management.

Of course, the investments we are making in das now will play a critical role in supporting this effort.

Additionally, last Thursday, President Trump call for a new sensors that will be used for congressional appointments.

He also stated that he is already directed the department of Commerce to begin work on this effort.

Speaker #4: We also plan on pushing for expansion of optional services under Spiral 4, particularly around lifecycle management services to deliver greater value to clients and create new pathways for growth and future deal flow.

While it remains early should this effort gained traction and move forward. The census Bureau may look to rely on established vendors such as Wi point and CDW to support the process the.

Speaker #4: Overall, activity under Spiral 4 continues to trend positively, and we remain focused on capturing additional opportunities as they arise. Jason will be sharing more about the opportunities within our device-as-a-service program, or DAS, but I'd like to provide a brief update on where things stand.

Jin Kang: Overall, activity under Spiral 4 continues to trend positively, and we remain focused on capturing additional opportunities as they arise. Jason will be sharing more about the opportunities within our Device-as-a-Service program, or DAS, but I'd like to provide a brief update on where things stand. Our DAS pipeline remains strong, and while the timing of some key opportunities has shifted to later than we initially anticipated, we remain encouraged by the growing interest and engagement in the program. The investment that we have made throughout the year in the infrastructure for DAS to support and scale is a clear reflection of our strong belief in its potential to drive meaningful return and long-term results. While these investments haven't yet translated into results in the first half of the year, they have laid a strong foundation for long-term growth.

The situation still remains fluid and we will continue to monitor developments closely and provide updates as the situation evolves or as meaningful milestones are reached.

Turning to macro factors tariffs and rising labor costs have impacted many businesses.

Speaker #4: Our DAS pipeline remains strong. And while the timing of some key opportunities have shifted to later-than-we-initially-anticipated, we remain encouraged by the growing interest and engagement in the program.

We have been able to mitigate any major effects through a combination of automation streamlining processes.

Eight adjustment proposals with customers alternative sourcing for equipment and other optimization strategies.

Government downsizing layoffs and those initiatives have not had a material impact on Wi point, though potential downstream effects remains a consideration. However, we also believe EHS may receive expanded responsibility related to border security, which could potentially create a tailwind for us.

Speaker #4: The investment that we have made throughout the year in the infrastructure for DAS to support and scale is a clear reflection of our strong belief in its potential to drive meaningful returns and long-term results.

Speaker #4: While these investments haven't yet translated into results in the first half of the year, they have laid a strong foundation for long-term growth. We had expected several deals to begin closing by the end of Q1 and into Q2.

Before I hand, the call over to Jason I'd like to take a moment to address our outlook regarding our previously disclosed guidance.

Jin Kang: We had expected several deals to begin closing by the end of Q1 and into Q2, but these timelines have extended. That said, we did secure our first DAS contract with a federal health research agency, delivered in close collaboration with our strategic Fortune 500 partner. We're confident that this initial win is just the beginning. The momentum is real, the conversations are active, and we're confident that the second half of 2025 and into 2026 will begin to reflect the progress and groundwork we have laid. We are also making meaningful progress in building and expanding our strategic partnerships, an important pillar of WidePoint's long-term growth strategy. We're continuing to invest the necessary time, energy, resources, and mindshare into cultivating these relationships. We firmly believe this strategy will yield tangible results and long-term return on investments.

While achieving positive EPS in 2025 was one of our initial goals some of the promising opportunities. We have previously outlined particularly within our Das program have shifted in timing has impacted our first half results.

Speaker #4: But these timelines have extended. That said, we did secure our first DAS contract with a federal health research agency. Delivered in close collaboration with our strategic Fortune 500 partner.

Speaker #4: We're confident that this initial win is just the beginning. The momentum is real, the conversations are active, and we're confident that the second half of 2025 and into 2026 will begin to reflect the progress and groundwork we have laid.

That said the opportunities in our pipeline remains intact and substantive they have merely been differed slightly and timing and we continue to view them as highly achievable.

In light of this timing shift while we still expect to meet our revenue guidance, we anticipate that both our EBITDA and free cash flow guidance will ultimately need to be adjusted.

Speaker #4: We are also making meaningful progress in building and expanding our strategic partnerships. An important pillar of WidePoint's long-term growth strategy. We're continuing to invest the necessary time and energy resources and mind share into cultivating these relationships.

We are deferring any formula adjustment until next quarter at several of these opportunities in the pipeline still hold potential to materialized in the second half of 2025.

Speaker #4: We firmly believe this strategy will yield tangible results and long-term return on investments. While some near-term opportunities similar to what we have experienced with DAS have experienced delays, we view our partnership strategy as a foundational investment.

We believe it is prudent to allow them sufficient time to develop so we can provide our shareholders with the most accurate and inform the outlook for 2025.

Jin Kang: While some near-term opportunities, similar to what we have experienced with DAS, have experienced delays, we view our partnership strategy as a foundational investment. These relationships are not just about immediate wins but about unlocking access to new markets, expanding our solution offerings, and creating joint go-to-market pathways that can scale over time. In many ways, we're laying the groundwork today for the next phase of WidePoint's evolution. WidePoint brings to the table a robust portfolio of secure, high-performance solutions that have been battle-tested by some of the most demanding government customers. Our track record speaks for itself. When combined with the strength of our existing partners and the credibility we have earned, the decision to expand and deepen our partner ecosystem is a strategic imperative, not just a growth tactic but a growth multiplier.

Importantly, we fully expect EBITDA and free cash flow to remain positive for the remainder of the year and we remain confident in the underlying strength of our business.

Speaker #4: These relationships are not just about immediate wins, but about unlocking access to new markets, expanding our solution offerings, and creating joint go-to-market pathways that can scale over time.

We have made a deliberate decision to continue investing in high impact initiatives, including <unk>, three point or preparation das infrastructure strategic facility lease in Columbus and into a strategic partnership strategy.

Speaker #4: In many ways, we're laying the groundwork today for the next phase of WidePoint's evolution. WidePoint brings to the table a robust portfolio of secure, high-performance solutions that have been battle-tested by some of the most demanding government customers.

All of which are fundamental to unlocking these future opportunities.

These investments reflect our focus on building long term value and positioning <unk> for sustainable profitable growth.

Speaker #4: Our track record speaks for itself. When combined with the strength of our existing partners and the credibility we have earned, the decision to expand and deepen our partner ecosystem is a strategic imperative.

Rather than focusing narrowly on achieving a modest EPS gain this year, we believe that and reinvesting in the business as the more strategic forward looking approach.

While we are naturally eager to see these opportunities come to fruition, we remain confident that the momentum will pick up in the second half of this year and into 2026 and that we're laying the groundwork for long term success.

Speaker #4: Not just a growth tactic, but a growth multiplier. We're confident that this continued investment will expand our reach, open up new revenue streams, and ultimately position WidePoint for sustained success well into the future.

Jin Kang: We're confident that this continued investment will expand our reach, open up new revenue streams, and ultimately position WidePoint for sustained success well into the future. Regarding our recent FedRAMP-authorized status, this significant achievement underscores WidePoint's commitment to delivering highly secure and compliant cloud services for government agencies, demonstrating our adherence to the most rigorous security standards and solidifying our position as a trusted provider in the federal space. FedRAMP-authorized status translates into a very powerful competitive advantage, opening doors to nationwide government contracts and fostering confidence in our ability to securely manage sensitive data and mobile solutions. It positions WidePoint as the leader in secure, compliant technology solutions, boosting our reputation and market reach in the public sector. Now, to provide a quick update on the Census 2030 opportunity, we are starting to see early activity with the Request for Information or RFI expected soon.

We remain optimistic in the future outlook for Wi Fi and firmly believe the deliberate strategic steps. We're taking now will result in valuable growth and return for our shareholders.

Speaker #4: Regarding our recent FedRAMP-authorized status, this significant achievement underscores WidePoint's commitment to delivering highly secure and compliant cloud services for government agencies, demonstrating our adherence to the most rigorous security standards and solidifying our position as a trusted provider in the federal space.

I will now turn the call over to Jason to walk you through our sales pipeline and upcoming opportunities Jason.

Thanks, Jen and good afternoon, everyone as Jane explained while the dow's opportunities in the pipeline have shifted slightly to the right. We are still encouraged with the increase in activity in progress.

Speaker #4: FedRAMP-authorized status translates into a very powerful competitive advantage, opening doors to nationwide government contracts and fostering confidence in our ability to securely manage sensitive data and mobile solutions.

<unk> of that is composed of 90% large commercial opportunities, which aligns directly with our broader goal of expanding beyond our traditional government work.

Speaker #4: It positions WidePoint as the leader in secure, compliant technology solutions, boosting our reputation and market reach in the public sector. Now, to provide a quick update on the Census 2030 opportunity.

It represents a meaningful step forward in diversifying our revenue stream and deepening our presence in the commercial sector.

We're currently engaged in discussions with notable firms across health care financial services public.

Speaker #4: We are starting to see early activity with the requests for information or RFI expected soon. The timeline looks similar to the 2020 cycle, and we anticipate a comparable scope of work.

Public sectors, among others, all of which manage large fleet of devices, which is the exact type of environment, where our data offerings to deliver the most value.

Jin Kang: The timeline looks similar to the 2020 cycle, and we anticipate a comparable scope of work, this time with a smoother path forward, free from the unique challenges of the pandemic period. Despite those challenges in 2020, we deliver flawlessly with zero devices compromised, which speaks to our reliability and ability to support mission-critical efforts at scale under any conditions. We expect to support and manage roughly 700,000 devices in secure mobility and lifecycle management. Of course, the investment we are making in DAS now will play a critical role in supporting this effort. Additionally, last Thursday, President Trump called for a new census that will be used for congressional appointments. He also stated that he has already directed the Department of Commerce to begin work on this effort.

SaaS contract offer higher margin managed services revenue stream precisely the kind of scalable business, we've been aiming to grow.

Speaker #4: This time, with a smoother path forward, free from the unique challenges of the pandemic period. Despite those challenges in 2020, we delivered flawlessly with zero devices compromised.

We wholeheartedly believe that one scale. The das program has the potential to rival and even surpass some of our largest current managed services work.

Speaker #4: Which speaks to our reliability, and ability to support mission-critical efforts at scale under any conditions. We expect to support and manage roughly 700,000 devices in secure, mobility, and lifecycle management.

The investments we've made and continue to make are not just about supporting today's pipeline.

They are about positioning <unk> for long term success.

Speaker #4: Of course, the investment we are making in DAS now will play a critical role in supporting this effort. Additionally, last Thursday, President Trump called for a new census that will be used for congressional appointments.

We see this as the foundation for successful growth improve the margins and meaningful progress towards our goal of delivering double digit percentage growth of our annual revenue.

This early phase of that is laying the groundwork for what we believe will be a major contributor to <unk> future success, particularly in the commercial space and to our overall bottom line in the long run.

Speaker #4: He also stated that he has already directed the Department of Commerce to begin work on this effort. While it remains early, should this effort gain traction and move forward, the census bureau may look to rely on established vendors such as WidePoint and CDW to support the process.

Jin Kang: While it remains early, should this effort gain traction and move forward, the Census Bureau may look to rely on established vendors such as WidePoint and CDW to support the process. The situation still remains fluid, and we will continue to monitor developments closely and provide updates as the situation evolves or as meaningful milestones are reached. Turning to macro factors, tariffs and rising labor costs have impacted many businesses. We have been able to mitigate any major effects through a combination of automation, streamlining processes, rate adjustment proposals with customers, alternative sourcing for equipment, and other optimization strategies. Federal government downsizing, layoffs, and DOJ initiatives have not had a material impact on WidePoint, though potential downstream effects remain a consideration. However, we also believe DHS may receive expanded responsibility related to border security, which could potentially create tailwinds for us.

Onto our partnership strategy.

We are continuing to put time and effort towards not only cultivating new relationships, but deepening and expanding existing ones. We are actively building on the strong foundation, we've established with our current partners growing both the scope of work and the strategic alignment of these collaborations.

Speaker #4: The situation still remains fluid. And we will continue to monitor developments closely. And provide updates as the situation evolves or as meaningful milestones are reached.

Speaker #4: Turning to macro factors, tariffs and rising labor costs have impacted many businesses. We have been able to mitigate any major effects through a combination of automation, streamlining processes, rate adjustment proposals with customers, alternative sourcing for equipment, and other optimization strategies.

Some of these partners include our long standing partnership with CDW Lighthouse <unk>.

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The period just to name a select tier.

For example, our strategic alignment with CDW SaaS program presents significant an apparent synergies.

Speaker #4: Federal government downsizing, layoffs, and DOJ initiatives have not had a material impact on WidePoint. Though potential downstream effects remain a consideration, we also believe DHS may receive expanded responsibility related to border security, which could potentially create tailwinds for us.

Given the strong strategic fit between our respective approaches we see clear potential for joint initiatives in the long term, especially as we look ahead to large scale opportunities like this and since 2013 and potential das opportunities.

Speaker #4: Before I hand the call over to Jason, I'd like to take a moment to address our outlook regarding our previously disclosed guidance. While achieving positive EPS in 2025 was one of our initial goals, some of the promising opportunities we have previously outlined particularly within our DAS program have shifted in timing as impacted our first half results.

Jin Kang: Before I hand the call over to Jason, I'd like to take a moment to address our outlook regarding our previously disclosed guidance. While achieving positive EPS in 2025 was one of our initial goals, some of the promising opportunities we have previously outlined, particularly within our DAS program, have shifted in timing and have impacted our first-half results. That said, the opportunities in our pipeline remain intact and substantive. They have merely been deferred slightly in timing, and we continue to view them as highly achievable. In light of this timing shift, while we still expect to meet our revenue guidance, we anticipate that both our EBITDA and free cash flow guidance will ultimately need to be adjusted. We are deferring any formal adjustments until next quarter, as several of these opportunities in the pipeline still hold potential to materialize in the second half of 2025.

Not just with CDW, but the example above represent our overall strategy with each of our longstanding partners to ensure that we are collaborating most effectively.

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Speaker #4: That said, the opportunities in our pipeline remain intact and substantive. They have merely been deferred slightly in timing, and we continue to view them as highly achievable.

That said I would like to extend my heart felt congratulations to CDW on their current recent achievement of being named the official technology solutions provider for the upcoming Los Angeles, 128 Olympic and Paralympic games.

Speaker #4: In light of this timing shift, while we still expect to meet our revenue guidance, we anticipate that both our EBITDA and free cash flow guidance will ultimately need to be adjusted.

This is an incredible recognition of Cdw's leadership in the industry and particularly of the strength and reliability of their das program and other comprehensive software solutions they offer.

Speaker #4: We are deferring any formal adjustments until next quarter, as several of these opportunities in the pipeline still hold potential to materialize in the second half of 2025.

Speaker #4: We believe it is prudent to allow them sufficient time to develop so we can provide our shareholders with the most accurate and informed outlook for 2025.

Where operational efficiency and technological reliability are critical in such a large scale environment Cdw's SaaS platform will serve as a vital enabler to streamline device deployment support and lifecycle management.

Jin Kang: We believe it is prudent to allow them sufficient time to develop so we can provide our shareholders with the most accurate and informed outlook for 2025. Importantly, we fully expect EBITDA and free cash flow to remain positive for the remainder of the year, and we remain confident in the underlying strength of our business. We have made a deliberate decision to continue investing in high-impact initiatives, including CWMS 3.0 preparation, DAS infrastructure, strategic facility lease in Columbus, and into our strategic partnership strategy, all of which are fundamental to unlocking these future opportunities. These investments reflect our focus on building long-term value and positioning WidePoint for sustainable, profitable growth. Rather than focusing narrowly on achieving a modest EPS gain this year, we believe that reinvesting in the business is the more strategic, forward-looking approach.

Speaker #4: Importantly, we fully expect EBITDA and free cash flow to remain positive for the remainder of the year. And we remain confident in the underlying strength of our business.

Congratulations again, it's a CDW on this well deserved honor and we all look forward to seeing their solutions in action on the world stage.

Speaker #4: We have made deliberate decisions to continue investing in high-impact initiatives, including CWMS 3.0 preparation. DAS infrastructure, strategic facility lease in Columbus, and into our strategic partnership strategy.

Our continued progress and the Smart City initiative has also expanded in scope with the recent announcement of our partnership with broad fat.

Speaker #4: All of which are fundamental to unlocking these future opportunities. These investments reflect our focus on building long-term value and positioning WidePoint for sustainable, profitable growth.

One point is not only working on new opportunities in Texas, but were brought that we've now added Tennessee to the left.

As you may have seen this past Monday, we probably announced a new identity and access management contract in support of the U S Department of education.

Speaker #4: Rather than focusing narrowly on achieving a modest EPS gain this year, we believe that in reinvesting in the business is the more strategic forward-looking approach.

This is especially meaningful as the K through 12 sector has long been an area. We aim to support making this engagement a promising milestone for potential future activity.

Speaker #4: While we are naturally eager to see these opportunities come to fruition, we remain confident that the momentum will pick up in the second half of this year and into 2026.

Jin Kang: While we are naturally eager to see these opportunities come to fruition, we remain confident that the momentum will pick up in the second half of this year and into 2026, and that we're laying the groundwork for long-term success. We remain optimistic in the future outlook for WidePoint and firmly believe the deliberate strategic steps we are taking now will result in valuable growth and return for our shareholders. I will now turn the call over to Jason to walk you through our sales pipeline and upcoming opportunities. Jason?

Speaker #4: And that we're laying the groundwork for long-term success. We remain optimistic in the future outlook for WidePoint and firmly believe that deliberate strategic steps we are taking now will result in valuable growth and return for our shareholders.

We are also actively collaborating with a major U S telecommunication carrier on a new strategic opportunity that could involve upwards of $2 million to $2 5 million in devices that will require our command center proprietary platform.

Speaker #4: I will now turn the call over to Jason to walk you through our sales pipeline and upcoming opportunities. Jason.

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Speaker #5: Thanks, Jin. And good afternoon, everyone. As Jin explained, while the DAS opportunities in the pipeline have shifted slightly to the right, we are still encouraged with the increase in activity and progress.

Jason Holloway: Thanks, Jin, and good afternoon, everyone. As Jin explained, while the DAS opportunities in the pipeline have shifted slightly to the right, we are still encouraged with the increase in activity and progress. The pipeline of DAS is composed of 90% large commercial opportunities, which align directly with our broader goal of expanding beyond our traditional government work. It represents a meaningful step forward in diversifying our revenue stream and deepening our presence in the commercial sector. We're currently engaged in discussions with notable firms across healthcare, financial services, and public IT sectors, among others, all of which manage large fleets of devices, which is the exact type of environment where our DAS offerings deliver the most value. DAS contracts offer higher margin managed services revenue stream, precisely the kind of scalable business we've been aiming to grow.

On the mobile anchor front.

I am pleased to share that a few weeks ago, we secured a new contract award from an agency under the U S Department of energy.

This award is a meaningful milestone that not only validates the growing demand for our solution within the federal space, but also underscores the increasing traction mobile lender is gaining across our broader customer pipeline.

Speaker #5: The pipeline of DAS is composed of 90% large commercial opportunities, which align directly with our broader goal of expanding beyond our traditional government work.

Speaker #5: It represents a meaningful step forward in diversifying our revenue stream and deepening our presence in the commercial sector. We're currently engaged in discussions with notable firms across healthcare, financial services, public IT sectors among others.

We continued to see strong indicators of customer and market acceptance and essential step forward scaling with the commercialization of <unk> incurred.

Encouragingly interest is not limited to government customers, we see compelling commercial potential as well.

Speaker #5: All of which manage large fleets of devices which is the exact type of environment where our DAS offerings deliver the most value. DAS contracts offer higher margin, managed services revenue stream, precisely the kind of scalable business we've been aiming to grow.

Particularly in emerging markets that require a secure reliable and flexible mobile connectivity solutions.

One exciting opportunity lies in the Smart City initiative.

Speaker #5: We wholeheartedly believe that once scaled, the DAS program has the potential to rival and even surpass some of our largest current managed services work.

Jason Holloway: We wholeheartedly believe that once scaled, the DAS program has the potential to rival and even surpass some of our largest current managed services work. The investments we've made and continue to make are not just about supporting today's pipeline; they are about positioning WidePoint for long-term success. We see this as the foundation for successful growth, improved margins, and meaningful progress towards our goal of delivering double-digit percentage growth of our annual revenue. This early phase of DAS is laying the groundwork for what we believe will be a major contributor to WidePoint's future success, particularly in the commercial space and to our overall bottom line in the long run. On to our partnership strategy. We are continuing to put time and effort towards not only cultivating new relationships but deepening and expanding existing ones.

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We have taken strategic steps to advance the smart City initiative together with <unk>, we aim to support smart cities and federal agencies by delivering a powerful dominant defense, providing end to end security connectivity computing and content distribution at the edge for.

Speaker #5: The investments we've made and continue to make are not just about supporting today's pipeline, they are about positioning WidePoint for long-term success. We see this as the foundation for successful growth, improved margins, and meaningful progress towards our goal of delivering double-digit percentage growth of our annual revenue.

All connected applications and devices.

To build on this mobile anchor Ah represents a significant opportunity to advance the smart City project.

Speaker #5: This early phase of DAS is laying the groundwork for what we believe will be a major contributor to WidePoint's future success, particularly in the commercial space.

Its ability to provide endpoint management and the highest multi factor secured environment physicians mobile anchor is an ideal solution for commercial partners aiming to modernize infrastructure without compromising cyber security or operational agility.

Speaker #5: And to our overall bottom line in the long run. Onto our partnership strategy. We are continuing to put time and effort toward not only cultivating new relationships but also deepening and expanding existing ones.

Lastly, given our strong relationships with strategic insiders, who have relationships with members of the current administration.

Speaker #5: We are actively building on the strong foundations we've established with our current partners. Growing both the scope of work and the strategic alignment of these collaborations.

Jason Holloway: We are actively building on the strong foundations we've established with our current partners, growing both the scope of work and the strategic alignment of these collaborations. Some of these partners include our longstanding partnership with CDW, Leidos, InnerC, Hyperion, just to name a select few. For example, our strategic alignment with CDW's DAS program presents significant and apparent synergies. Given the strong strategic fit between our respective approaches, we see clear potential for joint initiatives in the long term, especially as we look ahead to large-scale opportunities like the Census 2030 and potential DAS opportunities. Not just with CDW, but the example above represents our overall strategy with each of our longstanding partners to ensure that we are collaborating most effectively. WidePoint has positioned itself as a required partner in both the cybersecurity space as well as the managed mobility space.

Countries that have positive standing with the United States have recently shown a strong interest in wide points mobile anchor and our proprietary command center platform.

Speaker #5: Some of these partners include our longstanding partnership with CDW, Litoss, Interseed, Hyperion, just to name a select few. For example, our strategic alignment with CDW's DAS program presents significant and apparent synergies.

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We remain committed to executing on our robust pipeline and are excited to continue driving these initiatives forward.

Our steadily building the foundation to further expand our robust pipeline.

Speaker #5: Given the strong strategic fit between our respective approaches, we see clear potential for joint initiatives in the long term, especially as we look ahead to large-scale opportunities like the Census 2030 and potential DAS opportunities.

The opportunities ahead are both tangible and substantial and we remain optimistic that momentum will begin to pick up throughout the second half of 2025 and into 2026, allowing our efforts to yield meaningful results.

Speaker #5: Not just with CDW, but the example above represents our overall strategy, with each of our longstanding partners to ensure that we are collaborating most effectively.

With that I will now turn the call over to Bob to discuss our financial results.

Bob.

Thanks, Jason and thanks to everyone for joining us today I'm pleased to share the details of our financial results for the second quarter and the six months ended June 32025.

Speaker #5: WidePoint has positioned itself as a required partner in both the cybersecurity space as well as the managed mobility space. That said, I would like to extend my heartfelt congratulations to CDW on their current to recent achievement of being named the official technology solutions provider for the upcoming Los Angeles 2028 Olympic and Paralympic Games.

Total revenue for the second quarter was $38 million, an improvement from $36 million in the same period last year.

Jason Holloway: That said, I would like to extend my heartfelt congratulations to CDW on their current to recent achievement of being named the official technology solutions provider for the upcoming Los Angeles 2028 Olympic and Paralympic Games. This is an incredible recognition of CDW's leadership in the industry, and particularly of the strength and reliability of their DAS program and other comprehensive software solutions they offer. Where operational efficiency and technological reliability are critical in such a large-scale environment, CDW's DAS platform will serve as a vital enabler to streamline device deployment, support, and lifecycle management. Congratulations again to CDW on this well-deserved honor, and we all look forward to seeing their solutions in action on the world stage. Our continued progress in the Smart City initiatives has also expanded in scope with the recent announcement of our partnership with BROADSAT.

Total revenue for the six months ended June 32025 was $72 1 million, which was an improvement from $70 2 million the same period last year.

Further we start the second half of the year with a strong federal backlog of $265 million at June 32025.

Speaker #5: This is an incredible recognition of CDW's leadership in the industry, and particularly of the strength and reliability of their DAS program and other comprehensive software solutions they offer.

Now I will provide a further breakdown of our revenues.

Our carrier services revenue for the quarter was $22 2 million, an increase of $1 8 million compared to the same period in 2020 for carrier services revenue for the six months ended June 32025 was $44 6 million an increase of $4 8 million from the same period last year the.

Speaker #5: We're operational efficiency, and technological reliability are critical in such a large-scale environment. CDW's DAS platform will serve as a vital enabler to streamline device deployment, support in lifecycle management, congratulations again to CDW on this well-deserved honor.

The increase was a result of the growth of the number of phone lines under management.

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Our managed services fees for the quarter were $9 2 million and billable services fees were $1 3 million both of which are relatively consistent with the same period in 2024.

Speaker #5: And we all look forward to seeing their solutions in action on the world stage. Our continued progress in the smart city initiatives has also expanded in scope with the recent announcement of our partnership with BroadSat.

Managed services fees for the six months ended June 32025 were $18 4 million an increase of 600000 compared to the same period last year.

Speaker #5: WidePoint is not only working on new opportunities in Texas, but with BroadSat we've now added Tennessee to the list. As you may have seen this past Monday, we proudly announced a new identity and access management contract in support of the US Department of Education.

Jason Holloway: WidePoint is not only working on new opportunities in Texas, but with BROADSAT, we've now added Tennessee to the list. As you may have seen this past Monday, we proudly announced a new identity and access management contract in support of the U.S. Department of Education. This is especially meaningful as the K-12 sector has long been an area we aim to support, making this engagement a promising milestone for potential future activity. We are also actively collaborating with a major U.S. telecommunication carrier on a new strategic opportunity that could involve upwards of 2 million to 2.5 million in devices that will require our command center proprietary platform, ITMS, or Intelligent Technology Management System. On the mobile anchor front, I am pleased to share that a few weeks ago, we secured a new contract award from an agency under the U.S. Department of Energy.

The increase was primarily due to a new federal in customer, which began in September of 2024, which is not reflected in the comparable first six months of 2024 results.

Global services fees for the six months ended June 32025, or $3 1 million, an increase of 600000 compared to the same period last year, reflecting increased activity in this area.

Speaker #5: This is especially meaningful as the K through 12 sector has long been an area we aim to support, making this engagement a promising milestone for potential future activity.

Reselling and other services in the second quarter were $5 1 million, a slight increase compared to the same period last year.

Speaker #5: We are also actively collaborating with a major US telecommunications carrier on a new strategic opportunity that could involve upwards of $2 million to $2.5 million in devices that will require our command center proprietary platform, ITMS.

Included in reselling and other services is approximately 300000 of connectivity and device resales under our new smile for contract, where we expect to see future growth.

Reselling and other services for the six months ended June 32025.

$6 million compared to $10 2 million in the same period last year.

Speaker #5: Or intelligent technology management system. On the mobile anchor front, I am pleased to share that a few weeks ago we secured a new contract award from an agency under the US Department of Energy.

The decrease was primarily due to the out of period adjustment of $2 7 million recorded in the first quarter of 2025 and recognition of revenue for SaaS agreements over the period of performance compared to point of sale recognition is important to note that we selling other services are transactional in nature.

Speaker #5: This award is a meaningful milestone that not only validates the growing demand for our solution within the federal space, but also underscores the increasing traction Mobile Anchor is gaining across our broader customer pipeline.

Jason Holloway: This award is a meaningful milestone that not only validates the growing demand for our solution within the federal space but also underscores the increasing traction mobile anchor is gaining across our broader customer pipeline. We continue to see strong indicators of customer and market acceptance, an essential step forward scaling the commercialization of mobile anchor. Encouragingly, interest is not limited to government customers. We see compelling commercial potential as well, particularly in emerging markets that require secure, reliable, and flexible mobile connectivity solutions. One exciting opportunity lies in the Smart City initiative, where mobile anchor is in a position to play a transformative role. We have taken strategic steps to advance the Smart City initiative.

The amount and timing of revenue varies from quarter to quarter.

Gross profit for the second quarter increased to $5 1 million or 14% of revenues compared to $4 9 million or 14% of revenues in the same period last year.

Speaker #5: We continue to see strong indicators of customer and market acceptance, and essential step forward scaling the commercialization of mobile anchor. Encouragingly, interest is not limited to government customers.

More meaningful metric of gross profit percentage, excluding care services increased to 33% in the second quarter compared to 31% in the same period last year.

Speaker #5: We see compelling commercial potential as well, particularly in emerging markets that require secure, reliable, and flexible mobile connectivity solutions. One exciting opportunity lies in the smart city initiative.

Gross profit for the six months ended June 32025 increased by 300000 to $9 9 million or 14% of revenues compared to $9 6 million or 14% of revenues in the same period last year.

Gross profit percentage, excluding carrier services increased to 36% in the six months ended June 32025, compared to 31% in the same period last year. This is due to comparatively lower reselling revenues, which have a lower gross margin compared to the same period last year.

Speaker #5: Where Mobile Anchor is in a position to play a transformative role, we have taken strategic steps to advance the Smart City initiative. Together with BroadSat, we aim to support Smart Cities in federal agencies by delivering a powerful dome of defense.

Jason Holloway: Together with BROADSAT, we aim to support smart cities and federal agencies by delivering a powerful dome of defense, providing end-to-end security connectivity, computing, and content distribution at the edge for all connected applications and devices. To build on this, mobile anchor represents a significant opportunity to advance the Smart City project. Its ability to provide endpoint management in the highest multi-factor secured environment positions mobile anchor as an ideal solution for commercial partners aiming to modernize infrastructure without compromising cybersecurity or operational agility. Lastly, given our strong relationships with strategic insiders who have relationships with members of the current administration, countries that have positive standings with the United States have recently shown a strong interest in WidePoint's mobile anchor and our proprietary command center platform, ITMS, or Intelligent Technology Management System. We remain committed to executing on our robust pipeline and are excited to continue driving these initiatives forward.

Our gross profit percentage will vary from period to period based on our revenue mix.

Speaker #5: Providing end-to-end security connectivity computing, and content distribution at the edge for all connected applications and devices. To build on this, mobile anchor represents a significant opportunity to advance the smart city project.

Sales and marketing expense in the second quarter was 700000 or 2% of revenues compared to 600000 or 2% of revenues in the same period last year.

Sales and marketing expense in the six months ended June 32025 was $1 3 million and 2% of revenues compared to $1 2 million or 2% of revenues in the same period last year.

Speaker #5: Its ability to provide endpoint management in the highest multi-factor secured environment positions Mobile Anchor as an ideal solution for commercial partners aiming to modernize infrastructure without compromising cybersecurity or operational agility.

General administrative expenses in the second quarter were $4 9 million or 13% of revenues compared to $4 5 million or 13% of revenues in the same period last year.

Speaker #5: Lastly, given our strong relationships with strategic insiders who have connections with members of the current administration, countries that have positive standings with the United States have recently shown a strong interest in WidePoint's Mobile Anchor and our proprietary Command Center Platform, ITMS, or Intelligent Technology Management System.

The dollar increases during the second quarter, primarily relate to general inflationary pressures additional head count and associated costs related to building, our das offering as well as bolstering our delivery capability for our DHS customer.

These increases were partially offset by $200000 less share based compensation expense in the second quarter of 2025 compared to the same period in 2024.

Speaker #5: We remain committed to executing on our robust pipeline and are excited to continue driving these initiatives forward. We are steadily building the foundation to further expand our robust pipeline.

General and administrative expenses in the six months ended June 32025 were $9 6 million or 13% of revenues compared to $9 million or 13% of revenues in the same period last year.

Jason Holloway: We are steadily building the foundation to further expand our robust pipeline. The opportunities ahead are both tangible and substantial, and we remain optimistic that momentum will begin to pick up throughout the second half of 2025 and into 2026, allowing our efforts to yield meaningful results. With that, I will now turn the call over to Bob to discuss our financial results. Bob?

Speaker #5: The opportunities ahead are both tangible and substantial. And we remain optimistic that momentum will begin to pick up throughout the second half of 2025 and into 2026.

The dollar increase also relates primarily to general inflationary pressures additional head count and associated costs related to building, our das offering as well as bolstering our delivery capability for our DHS customer.

Speaker #5: Allowing our efforts to yield meaningful results. With that, I will now turn the call over to Bob to discuss our financial results. Bob?

These increases were partially offset by 419000 less share based compensation expense in the first half of 2025 compared to the same period in 2024.

Speaker #6: Thanks, Jason. And thanks to everyone for joining us today. I'm pleased to share the details of our financial results for the second quarter and the six months ended June 30th, 2025.

Robert George: Thanks, Jason, and thanks to everyone for joining us today. I'm pleased to share the details of our financial results for the second quarter in the six months ended June 30, 2025. Total revenue for the second quarter was $38 million, an improvement from $36 million in the same period last year. Total revenue for the six months ended June 30, 2025 was $72.1 million, which was an improvement from $70.2 million in the same period last year. Further, we start the second half of the year with a strong federal backlog of $265 million at June 30, 2025. Now I'll provide a further breakdown of our revenues. Our carrier services revenue for the quarter was $22.2 million, an increase of $1.8 million compared to the same period in 2024.

Net loss for the second quarter was 618000 or a loss of <unk> <unk> per share compared to a net loss of 500000 weight loss of five cents per share for the same period last year net.

Speaker #6: Total revenue for the second quarter was $38 million, an improvement from $36 million in the same period last year. Total revenue for the six months ended June 30th, 2025, was $72.1 million, which was an improvement from $70.2 million in the same period last year.

Net loss for the six months ended June 32025 was $1 3 million a loss of <unk> 14 per share compared to a net loss of $1 2 million.

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For the same period last year.

Speaker #6: Further, we start the second half of the year with a strong federal backlog of $265 million at June 30th, 2025. Now provide a further breakdown of our revenues.

Adjusted EBITDA, a non-GAAP measure for the second quarter was 183000 and free cash flow for the quarter, which we define as adjusted EBITDA minus capital investments with $90000, representing our 30 <unk> consecutive quarter of adjusted EBITDA and our seventh consecutive quarter of positive free cash.

Speaker #6: Our carrier services revenue for the quarter was $22.2 million, an increase of $1.8 million compared to the same period in 2024. Carrier services revenue for the six months ended June 30, 2025, was $44.6 million, an increase of $4.8 million from the same period last year.

Cash flow.

Robert George: Carrier services revenue for the six months ended June 30, 2025 was $44.6 million, an increase of $4.8 million from the same period last year. The increase was a result of the growth in the number of phone lines under management for our DHS customers. Our managed services fees for the quarter were $9.2 million, and billable services fees were $1.3 million, both of which are relatively consistent with the same period in 2024. Managed services fees for the six months ended June 30, 2025 were $18.4 million, an increase of $600,000 compared to the same period last year. The increase was primarily due to a new federal end customer, which began in September of 2024, which is not reflected in the comparable first six months of 2024 results.

Adjusted EBITDA for the six months ended June 32025 was 276000 and free cash flow for this period was 155000.

Speaker #6: The increase was a result of the growth in the number of phone lines under management for our DHS customer. Our managed services fees for the quarter were $9.2 million, and billable services fees were $1.3 million, both of which are relatively consistent with the same period in 2024.

Moving to our Capex as Jin and Jason have noted for the rest of the year, we do plan to increase capital investments to support our strategic priorities. This includes funding for our device as a service program, which includes buildout of our new dedicated facility and associated infrastructure investment towards the preparation for the upcoming <unk>.

Speaker #6: Managed services fees for the six months ended June 30th, 2025, were $18.4 million, an increase of $600,000 compared to the same period last year.

<unk> 3.0, Recompete. In addition to a phase technical refresh of portions of wide points it environment to strengthen our cyber security posture for the year, we estimate capex will increase by approximately $300000 from last year, which equates to approximately 450000 for the entire year.

Speaker #6: The increase was primarily due to a new federal end customer, which began in September of 2024, which is not reflected in the comparable first six months of 2024 results.

Speaker #6: Billable services fees for the six months ended June 30th, 2025, were $3.1 million, an increase of $600,000 compared to the same period last year, reflecting increased activity in this area.

Robert George: Billable services fees for the six months ended June 30, 2025 were $3.1 million, an increase of $600,000 compared to the same period last year, reflecting increased activity in this area. Reselling and other services in the second quarter were $5.1 million, a slight increase compared to the same period last year. Included in reselling and other services is approximately $300,000 of connectivity and device resales under our new Spiral 4 contract, where we expect to see future growth. Reselling and other services for the six months ended June 30, 2025 were $6 million compared to $10.2 million in the same period last year. The decrease was primarily due to the out-of-period adjustment of $2.7 million recorded in the first quarter of 2025 and recognition of revenue for SaaS agreements over the period of performance compared to point-of-sale recognition.

Moving to the balance sheet, we ended the quarter with $6 8 million in unrestricted cash, reflecting a $3 1 million increase from $3 $7 million last quarter.

We also have additional liquidity options available with our revolving line of credit facility, which provides us with $4 million of potential borrowing capacity, which is subject to availability, although we do not anticipate having to rely on this facility.

Speaker #6: Reselling and other services in the second quarter were $5.1 million, a slight increase compared to the same period last year. Included in reselling and other services is approximately $300,000 of connectivity and device resells, under our new Spiral 4 contract, where we expect to see future growth.

This completes my financial summary for a more detailed analysis of our financial results. Please refer to our Form 10-Q, which was filed prior to this call now I will turn the call over to Jim for his closing remarks.

Speaker #6: Reselling and other services for the six months ended June 30th, 2025, were $6 million compared to $10.2 million in the same period last year.

Speaker #6: The decrease was primarily due to the out-of-period adjustment of $2.7 million recorded in the first quarter of 2025, and recognition of revenue for SAS agreements over the period of performance compared to point-of-sale recognition.

Thank you Bob and Jason.

So in summary in Q2 2025, we made strategic progress and maintained steady financial performance, even as some key contract timeline shifted.

Our primary focus has been securing the $3 billion.

Speaker #6: It is important to note that reselling and other services are transactional in nature, and the amount and timing of revenue varies from quarter to quarter.

Robert George: It is important to note that reselling and other services are transactional in nature, and the amount and timing of revenue varies from quarter to quarter. Gross profits for the second quarter increased to $5.1 million, or 14% of revenues, compared to $4.9 million, or 14% of revenues in the same period last year. The more meaningful metric of gross profit percentage excluding carrier services increased to 33% in the second quarter compared to 31% in the same period last year. Gross profits for the six months ended June 30, 2025 increased by $300,000 to $9.9 million, or 14% of revenues, compared to $9.6 million, or 14% of revenues in the same period last year. Gross profit percentage excluding carrier services increased to 36% in the six months ended June 30, 2025, compared to 31% in the same period last year.

Cwm's 3.0, Recompete, where we are leveraging our position as a two time incumbent.

Speaker #6: Gross profit for the second quarter increased to $5.1 million, or 14% of revenues, compared to $4.9 million, or 14% of revenues in the same period last year.

Our fed ramp authorized status and our strong history of delivering results.

We are also driving growth through the spiral for contract a strong device as a service pipeline, particularly in the commercial sector and by expanding our strategic partnerships with organizations like CDW and brought Sac.

Speaker #6: The more meaningful metric of gross profit percentage excluding carrier services increased to 33% in the second quarter compared to 31% in the same period last year.

Speaker #6: Gross profit for the six months ended June 30th, 2025, increased by $300,000 to $9.9 million, or 14% of revenues, compared to $9.6 million, or 14% of revenues in the same period last year.

In addition, we are advancing mobile anchor in both government and commercial markets and pursuing major opportunities such as the 2030, decennial census, and smart city initiatives.

Jason has emphasized our diversification into large commercial das deals and deepening of partnerships. We remain committed on investing in high impact initiatives that will drive long term growth.

Speaker #6: Gross profit percentage excluding carrier services increased to 36% in the six months ended June 30, 2025, compared to 31% in the same period last year.

Speaker #6: This is due to comparatively lower reselling revenues, which have a lower gross margin compared to the same period last year. Our gross profit percentage will vary from period to period based on our revenue mix.

Robert George: This is due to comparatively lower reselling revenues, which have a lower gross margin compared to the same period last year. Our gross profit percentage will vary from period to period based on our revenue mix. Sales and marketing expense in the second quarter was $700,000, or 2% of revenues, compared to $600,000, or 2% of revenues in the same period last year. Sales and marketing expense in the six months ended June 30, 2025 was $1.3 million and 2% of revenues, compared to $1.2 million or 2% of revenues in the same period last year. General administrative expenses in the second quarter were $4.9 million, or 13% of revenues, compared to $4.5 million, or 13% of revenues in the same period last year.

That concludes our prepared remarks, and we will now take questions from our analysts and major shareholders. Operator would you. Please open the call for questions.

Certainly.

At this time, we'll be conducting a question and answer session. If you have any questions or comments. Please press star one on your phone at this time we.

Speaker #6: Sales and marketing expense in the second quarter were $700,000, or 2% of revenues, compared to $600,000, or 2% of revenues in the same period last year.

We do ask that while posing your question. Please pickup your handset if you're listening on speaker phone to provide optimum sound quality.

Speaker #6: Sales and marketing expense in the six months ended June 30th, 2025, was $1.3 million, and 2% of revenues, compared to $1.2 million, or 2% of revenues in the same period last year.

Once again, if you have any questions or comments. Please press star one on your phone.

Your first question is coming from Barry Sine from Litchfield Hills. Your line is live.

Speaker #6: General administrative expenses in the second quarter were $4.9 million, or 13% of revenues, compared to $4.5 million, or 13% of revenues in the same period last year.

Hey, good evening gentlemen.

First of all congratulations on the visibility on the DHS contract obviously.

Speaker #6: The dollar increases during the second quarter primarily relate to general inflationary pressures, additional headcount, and associated costs related to building our DAS offering, as well as bolstering our delivery capability for our DHS customer.

Robert George: The dollar increases during the second quarter primarily relate to general inflationary pressures, additional headcount, and associated costs related to building our DAS offering, as well as bolstering our delivery capability for our DHS customer. These increases were partially offset by $200,000 less share-based compensation expense in the second quarter of 2025 compared to the same period in 2024. General administrative expenses in the six months ended June 30, 2025 were $9.6 million, or 13% of revenues, compared to $9 million, or 13% of revenues in the same period last year. The dollar increase also relates primarily to general inflationary pressures, additional headcount, and associated costs related to building our DAS offering, as well as bolstering our delivery capability for our DHS customer. These increases were partially offset by $419,000 less share-based compensation expense in the first half of 2025 compared to the same period in 2024.

The big Kahuna for you guys.

The you mentioned that it's now a $3 billion.

First question is over what timeframe I think there was some discussion it might go from a five year to 10 year has that happened.

Speaker #6: These increases were partially offset by $200,000 less share-based compensation expense in the second quarter of 2025, compared to the same period in 2024. General administrative expenses in the six months ended June 30th, 2025, were $9.6 million, or 13% of revenues, compared to $9 million, or 13% of revenues in the same period last year.

That's right Barry sorry about that it's good to hear from you the answer is yes.

<unk> will go from a five year contract to a 10 year contract and it is going from a half of 1 billion to $3 billion. So it's almost doubling the size.

Annual run rate.

Speaker #6: The dollar increase also relates primarily to general inflationary pressures, additional headcount, and associated costs related to building our DAS offering, as well as bolstering our delivery capability for our DHS customer.

And I think that thats, because theres going to be additional mission that EHS is going to have.

Especially securing the northern and southern border.

We see a lot more.

Potential growth there for mobility and wireless cellular satellite technology.

Speaker #6: These increases were partially offset by $490,000 less share-based compensation expense in the first half of 2025, compared to the same period in 2024. Net loss for the second quarter was $618,000, or a loss of 6 cents per share, compared to a net loss of $500,000, or a loss of 5 cents per share for the same period last year.

And you called out the requirements for this contract, including fed ramp how do those requirements differ.

Robert George: Net loss for the second quarter was $618,000, or a loss of $0.06 per share, compared to a net loss of $500,000, or a loss of $0.05 per share for the same period last year. Net loss for the six months ended June 30, 2025 was $1.3 million, a loss of $0.14 per share, compared to a net loss of $1.2 million, or a loss of $0.13 per share for the same period last year. Adjusted EBITDA, a non-GAAP measure for the second quarter, was $183,000, and free cash flow for the quarter, which we define as adjusted EBITDA minus capital investments, was $90,000, representing our 32nd consecutive quarter of adjusted EBITDA and our seventh consecutive quarter of positive free cash flow. Adjusted EBITDA for the six months ended June 30, 2025 was $276,000, and free cash flow for this period was $155,000.

Five years ago as Sue I assume fed ramp was not a requirement then because you didn't have fed ramp and you won the contract.

Speaker #6: Net loss for the six months ended June 30th, 2025, was $1.3 million, a loss of 14 cents per share, compared to a net loss of $1.2 million, or a loss of 13 cents per share, for the same period last year.

Yes, you are correct the fed ramp authorized was not a requirement but at this time it is.

It is also.

They are requiring only the primes to be able to submit their past performance experience.

And they are specifically, saying that this is a small business classification under.

Speaker #6: Adjusted EBITDA, a non-GAAP measure for the second quarter, was $183,000, and free cash flow for the quarter, which we define as adjusted EBITDA, minus capital investments, was $90,000.

The North American Industrial code.

And so we meet all of those.

Requirements and the statement of work matches, our capabilities and it's very close to our.

Speaker #6: Representing our 32nd consecutive quarter of adjusted EBITDA, and our seventh consecutive quarter of positive free cash flow. Adjusted EBITDA for the six months ended June 30th, 2025, was $276,000, and free cash flow for this period was $155,000.

Our current service delivery and solutions, so it bodes really well and it's also the other one that we didn't mention is that it is best value I think I mentioned that in my prepared remarks.

And what that usually means is is that the.

Speaker #6: Moving to our CapEx, as Jin and Jason have noted, for the rest of the year we do plan to increase capital investments to support our strategic priorities.

Robert George: Moving to our CapEx, as Jin and Jason have noted, for the rest of the year, we do plan to increase capital investments to support our strategic priorities. This includes funding for our Device-as-a-Service program, which includes build-out of our new dedicated facility and associated infrastructure, investment towards the preparation for the upcoming CWMS 3.0 recompete, in addition to a phased technical refresh of portions of WidePoint's IT environment to strengthen our cybersecurity posture. For the year, we estimate CapEx will increase by approximately $300,000 from last year, which equates to approximately $450,000 for the entire year. Moving to the balance sheet, we ended the quarter with $6.8 million in unrestricted cash, reflecting a $3.1 million increase from $3.7 million last quarter.

The government.

Is favoring whatever they say its best value versus.

Ah.

Our lowest price technically acceptable those are the two options that they will go with it but at this time they are going with.

Speaker #6: This includes funding for our device-as-a-service program, which includes build-out of our new dedicated facility and associated infrastructure, investment towards the preparation for the upcoming CWMS 3.0 recompete in addition to a phased technical refresh of portions of WidePoint's IT environment to strengthen our cybersecurity posture.

The best value, which which tend to favor the incumbent.

Okay, that's really good news on spiral for.

Obviously thats another major contract that you already have in the bag.

Speaker #6: For the year, we estimate CapEx will increase by approximately $300,000 from last year, which equates to approximately $450,000 for the entire year. Moving to the balance sheet, we ended the quarter with $6.8 million in unrestricted cash, reflecting a $3.1 million increase from $3.7 million last quarter.

For those of us keeping score at home.

Could you bring us up to date how many.

Orders have you gotten to date, how many dollars and then what you put that in perspective, what is the total.

Size of that contract and how many other.

Winners, where they are on that platform.

Speaker #6: We also have additional liquidity options available with our revolving line of credit facility, which provides us with $4 million of potential borrowing capacity, which is subject to availability although we do not anticipate having to rely on this facility.

Robert George: We also have additional liquidity options available with our revolving line of credit facility, which provides us with $4 million of potential borrowing capacity, which is subject to availability, although we do not anticipate having to rely on this facility. This completes my financial summary. For a more detailed analysis of our financial results, please refer to our Form 10-Q, which was filed prior to this call. Now I will turn the call over to Jin for his closing remarks.

Alright.

The Navy spire for contract.

It was awarded to.

Six others, including <unk> seven total.

And the Awardees were mostly cellphone cellular carriers, Verizon and AT&T T mobile <unk> networks Mattel.

Speaker #6: This completes my financial summary. For a more detailed analysis of our financial results, please refer to our Form 10-Q, which was filed prior to this call.

Republic wireless and wide point and of course, the only non carrier.

Speaker #6: Now, I will turn the call over to Jin for his closing remarks.

Winter was us Wi point.

Speaker #1: Thank you, Bob and Jason. So, in summary, in Q2 2025, we made strategic progress and maintained steady financial performance. Even as some key contract timelines shifted, our primary focus has been securing the $3 billion DHS-CWMS 3.0 recompete, where we are leveraging our position as a two-time incumbent.

Jin Kang: Thank you, Bob and Jason. So, in summary, in Q2 2025, we made strategic progress and maintained steady financial performance, even as some key contract timelines shifted. Our primary focus has been securing the $3 billion DHS CWMS 3.0 recompete, where we are leveraging our position as a two-time incumbent, our FedRAMP-authorized status, and our strong history of delivering results. We are also driving growth through the Spiral 4 contract, a strong device-as-a-service pipeline, particularly in the commercial sector, and by expanding our strategic partnerships with organizations like CDW and BROADSAT. In addition, we're advancing mobile anchor in both government and commercial markets and pursuing major opportunities such as the 2030 Decennial Census and Smart City initiatives. Jason has emphasized our diversification into large commercial DAS deals and deepening of partnerships. We remain committed on investing in high-impact initiatives that will drive long-term growth.

That contract is a $626 billion.

Topline two dates we won.

For contracts.

And the contract period of performance is 10 years.

And I think that there is also a five year option period on it.

And the total contract value that we have won is approximately $26 million.

Speaker #1: Our FedRAMP-authorized status, and our strong history of delivering results. We are also driving growth through the Spiral 4 contract, a strong device-as-a-service pipeline, particularly in the commercial sector, and by expanding our strategic partnerships with organizations like CDW and BroadSat.

Do you know.

Six parties with the <unk>.

Size of their car.

Contracts that had been awarded cumulatively on tomorrow.

Yes, we don't have that visibility I believe we can go out to one of the contract award databases and we can probably look that up for next time, we're out I will make that up.

Speaker #1: In addition, we're advancing mobile anchor in both government and commercial markets, and pursuing major opportunities such as the 2030 Decennial Census and Smart City initiatives.

A task for us.

So let me ask the question a little bit differently.

Speaker #1: Jason has emphasized our diversification into large commercial DAS deals and deepening of partnerships. We remain committed on investing in high-impact initiatives that will drive long-term growth.

Mentioned, it's a $2 $6 billion total program.

Program.

My sense is you've only got $26 million that they're really though in the very very early stages of doling out that $2 6 billion, even if we had the numbers for all seven.

Speaker #1: That concludes our prepared remarks. And we will now take questions from our analysts and major shareholders. Operator, will you please open the call for questions?

Jin Kang: That concludes our prepared remarks, and we will now take questions from our analysts and major shareholders. Operator, will you please open the call for questions?

Yes that is correct.

They are early in the cycle and so we feel pretty good about our chances to win additional task orders.

Speaker #7: Certainly. Everyone at this time will be conducting a question and answer session. If you have any questions or comments, please press *1 on your phone at this time.

Matthew (Operator): Certainly, everyone at this time will be conducting a question and answer session. If you have any questions or comments, please press star one on your phone at this time. We do ask that while posing your question, please pick up your handset if you're listening on speakerphone to provide optimum sound quality. Once again, if you have any questions or comments, please press star one on your phone. Your first question is coming from Barry Sine from Litchfield Hills. Your line is live.

And so.

<unk> said before is that.

Speaker #7: We do ask that while posing your question, please pick up your handset if you're listening on speakerphone to provide optimum sound quality. Once again, if you have any questions or comments, please press *1 on your phone.

We are the only vendor that can provide multi carrier solutions.

That includes all of the six vendors that are on there.

And so I think that it gives us sort of carrier agnostic approach to providing the right coverage for the for the customers. So I think.

Speaker #7: Your first question is coming from Barry Sine from Litchfield Heals. Your line is live.

We have a differentiator there.

Speaker #8: Hey, good evening, gentlemen. First of all, congratulations on the visibility on the DHS contract. Obviously, that's the big kahuna for you guys. The you mentioned that it's now a $3 billion first question is, over what timeframe?

Barry Sine: Hey, good evening, gentlemen. First of all, congratulations on the visibility on the DHS contract. Obviously, that's the big kahuna for you guys. You mentioned that it's now a $3 billion. First question is, over what timeframe? I think there was some discussion it might go from a five-year to a 10-year. Has that happened?

And then also on the on going.

Going back to DHS.

Believe that Atms.

And you've talked about das I don't understand the difference.

Can discern is that.

Seems to be that you retain the ownership of the devices and provide them as a service and Atms.

Speaker #8: I think there was some discussion it might go from a five-year to a 10-year. Has that happened?

Customer owns the devices, what's what's the difference between das and Atms.

Speaker #1: That's right, Barry. Sorry about that. You know, it's good to hear from you. The answer is yes. The CWMS 3.0 will go from a five-year contract to a ten-year contract.

Jin Kang: That's right, Barry. Sorry about that. You know, it's good to hear from you. The answer is yes. The CWMS 3.0 will go from a five-year contract to a 10-year contract, and it's going from a half a billion to a $3 billion. So it's almost doubling the size, you know, annual run rate. And I think that that's because, you know, there's going to be additional mission that DHS is going to have, especially securing the northern and the southern border. So we see a lot more potential growth there for mobility and wireless cellular satellite technology.

The difference between Das and Atms is that gas is a business model, where we own the devices and.

Speaker #1: And it's going from a half a billion to a $3 billion. So it's almost doubling the size you know year annual run rate. And I think that that's because you know there's going to be additional mission that DHS is going to have especially securing the northern and the southern border.

The customers are charged a fixed monthly fee for device, including data voice text accessories all of those things.

<unk> is the platform that we use to support the Das program. So all of those devices that we.

Speaker #1: So we see a lot more potential growth there for mobility and wireless cellular satellite technology.

Manish up for our customers.

Are included.

Managed using the <unk> and the <unk> is the platform.

Speaker #8: And you called out the requirements for this contract. Including FedRAMP. How do those requirements differ from five years ago? I assume FedRAMP was not a requirement then because you didn't have FedRAMP and you won the contract.

Barry Sine: And you called out the requirements for this contract, including FedRAMP. How do those requirements differ from five years ago? I assume FedRAMP was not a requirement then because you didn't have FedRAMP and you won the contract.

<unk>.

The <unk> is the platform that we use to manage all of those and in many cases.

Some of the das programs that we manage.

We don't actually own the device ourselves.

Our strategic partner, we had mentioned before.

Speaker #1: Yes, you are correct. FedRAMP-authorized was not a requirement, but this time it is. It is also they're requiring only the primes to be able to submit their past performance experience.

Jin Kang: Yes, you are correct. FedRAMP-authorized was not a requirement, but this time it is. It is also they're requiring only the primes to be able to submit their past performance experience, and they are specifically saying that this is a small business classification under that North American Industrial Code. And so we meet all of those requirements, and the statement of work matches our capabilities, and it's very close to our, you know, our current service delivery and solution. So it bodes really well. And it's also the other one that we didn't mention is that it is best value. I think I mentioned that in my prepared remarks. And what that usually means is that the government, you know, is favoring, you know, whatever they say is best value versus, you know, lowest price technically acceptable. Those are the two options that they will go with.

CDW is one of them and they would handle all of the device ownership in inventory, but they would use our tms system to manage all of those.

Speaker #1: And they are specifically saying that this is a small business classification under that North American Industrial Code. And so we meet all of those.

Those devices, including technical refresh when the devices are going to be put out to pasture.

Voice plans what data plans thereon. So <unk> is a full service platform that we sell a software as a.

Speaker #1: The requirements and the statement of work match our capabilities. It's very close to our current service delivery and solution, so it bodes really well.

Service.

But traditionally the customer has one the device, whereas the distinction with Das is you will own the device and provided to them as a service is that correct.

Speaker #1: And it also, the other one that we didn't mention, is that it is best value. I think I mentioned that in my prepared remarks.

In some cases rare cases that we will own the device, but it is our partner that will own the device.

Speaker #1: And what that usually means is that the government you know is favoring you know whenever they say it's best value versus you know lowest price technically acceptable.

CDW.

Okay, and then talking about CDW there.

On the sensors and you talked about early stages on the 2030, but <unk>.

Speaker #1: Those are the two options that they will go with. But this time they are going with the best value, which tends to favor the incumbent.

Jin Kang: But this time they are going with the best value, which tends to favor the incumbent.

On August seven President Trump ordered the census Bureau to quote immediately begin work immediately on a interim centers.

Speaker #8: Okay, that's really good news. On Spiral 4, obviously that's another major contract that you already have in the bag. For those of us keeping score at home, could you get us bring us up to date how many orders have you gotten to date?

Barry Sine: Okay, that's really good news. On Spiral 4, obviously that's another major contract that you already have in the bag. For those of us keeping score at home, could you just bring us up to date? How many orders have you gotten to date? How many dollars? And then what you put that in perspective, what is the total size of that contract and how many other winners were there on that platform?

I don't know if you've gotten any communication.

Have you spoken with your counterparts at CDW.

Have they gotten any indication on this new.

Speaker #8: How many dollars? And then, when you put that in perspective, what is the total size of that contract? And how many other winners were there on that platform?

Mid decade Santos.

We have not that information hasnt trickled down to us yet.

There are some talks about doing different approaches to this.

Speaker #1: Right. You know, the Navy Spiral 4 contract was awarded to six others, including WidePoint, so seven total. The awardees were mostly cell phone carriers.

Jin Kang: Right. You know, the Navy Spiral 4 contract was awarded to six others, including WidePoint, so seven total. And the awardees were mostly cell phone cellular carriers: Verizon, AT&T, T-Mobile, Hughes Networks, Mettel, and Republic Wireless, and WidePoint. And of course, the only non-carrier winner was us, WidePoint. That contract is a $2.6 billion top line. To date, we won four contracts, and the contract period of performance is 10 years. And I think that there is also a five-year option period on it. And the total contract value that we have won is approximately $26 million.

One is actually going out and doing.

A.

MIT Decennial census.

There is also talks about.

Using the existing data.

Which I think is.

Problematic because I think they couldnt collect any of the citizenship information during the 2020 decennial census, so the jury is still out.

Speaker #1: Verizon, AT&T, T-Mobile, Hughes Networks, Mettel, and Republic Wireless, and WidePoint. And of course, the only non-carrier winner was us, WidePoint. That contract is a $2.6 billion top line.

The information has not trickle down to us yet.

So hypothetically after this call in check your voicemail and CDW says, Okay. Jen we got the Green light to deal with the 2025 centers, how fast could wide point get devices out in the field into the hands of census takers.

Speaker #1: To date, we have won four contracts, each with a period of performance of ten years. Additionally, I believe there is also a five-year option period associated with them.

We could do that probably within.

A week or two week, depending on how fast the carriers can provide all of these devices.

Speaker #1: And the total contract value that we have won is approximately $26 million.

And that will be a function of how fast that carriers can provide those devices as well as.

Our partner CDW in this case would need to also.

Speaker #8: Do you know the other six parties, with the size of their contracts? They've been awarded cumulatively on Spiral 4?

Barry Sine: Do you know the other six parties with the size of their contracts they've been awarded cumulatively on Spiral 4?

Put all of those devices space.

Due to logistics.

And what we would do is we would track all of that they would use our software to track all of those devices.

Speaker #1: Yeah, we don't have that visibility. I believe we can go out to you know one of the contract award databases and we can probably look that up for you know next time around.

Jin Kang: Yeah, we don't have that visibility. I believe we can go out to, you know, one of the contract award databases, and we can probably look that up for, you know, next time around. I will make that a task for us.

So from your perspective, it is possible to do something relatively soon lets say within the next 12 months.

Speaker #1: I will make that a a task for us.

Speaker #8: So, let me ask the question a little bit differently. You mentioned it's a $2.6 billion total program. My sense is you've only gotten $26 million.

Yes.

Barry Sine: So let me ask the question a little bit differently. You mentioned it's a $2.6 billion total program. My sense is you've only gotten $26 million, that they're still in the very, very early stages of doling out that $2.6 billion, even if we had the numbers for all seven.

Yes, we definitely can scale up and get everything ready and we would probably do a lot of the logistics piece of it as well.

<unk>.

Speaker #8: That there are still in the very, very early stages of doling out that $2.6 billion. Even if we had the numbers for all seven.

And I think the long pole in the tent is going to be the carriers being able to provision those devices and actually conducting the the census, because they would have to go door to door again.

Speaker #1: Yes, that is correct. We are early in the cycle, and so we feel pretty good about our chances to win additional task orders. As I said before, we are the only vendor that can provide multi-carrier solutions.

Jin Kang: Yes, that is correct. They are early in the cycle, and so we feel pretty good about our chances to win additional task orders. And so, as I said before, is that we are the only vendor that can provide multi-carrier solutions. That includes all of the six vendors that are on there. And so I think that it gives us, you know, sort of a carrier-agnostic approach to providing the right coverage for the customer. So I think we have a differentiator there.

And I think.

The first thing that has to happen I believe usually what happens is that the census.

Is sent out to every address in those addresses that do not respond to our sense is that people have to go door to door and so even so.

Speaker #1: That includes all of the six vendors that are on there. And so I think that it gives us, you know, sort of a carrier-agnostic approach to providing the right coverage for the customer.

I would imagine that we can spin up yes, I would say within two.

Two weeks, maybe a month's time to get all of these devices out there to the integrators.

We will keep our fingers crossed we get into 2025 and 2030.

Speaker #1: So I think we have a differentiator there.

Yes that would migrate that happened.

Speaker #8: And then also on the DHS, or going back to DHS, I believe that's ITMS. And you've talked about DAS. I don't understand the difference.

Barry Sine: And then also on DHS, or going back to DHS, I believe that's ITMS. And you've talked about DAS. I don't understand the difference. What I can discern is that DAS seems to be that you retain the ownership of the devices and provide them as a service, and ITMS, the customer, owns the devices. What's the difference between DAS and ITMS?

My last question is on backlog, Bob I think you mentioned it was 265 million.

If you could take that number apart for us.

Speaker #8: What I can discern is that DAS seems to be that you retain the ownership of the devices and provide them as a service. And ITMS, the customer owns the devices.

What was it in <unk>, what was it a year ago.

How much of that is.

Scheduled to be <unk>.

<unk> in the next 12 months.

Hey, Barry I can get back on the historical but in terms of what the $2 65 rolls out of that we've got about $47 million for the rest of the year.

Speaker #8: What's the difference between DAS and ITMS?

Speaker #1: Yeah, the difference between DAS and ITMS is that DAS is a business model where we own the devices. The customers are charged a fixed monthly fee for the device, including data, voice, text, and accessories, all of those things.

Jin Kang: Yeah, the difference between DAS and ITMS is that DAS is a business model where we own the devices, and the customers are charged a fixed monthly fee for device, including data, voice, text, accessories, all of those things. ITMS is the platform that we use to support the DAS program. So all of those devices that we manage for our customers are included, is managed using the ITMS. And the ITMS is the platform that we use to manage all of those. And in many cases, some of the DAS programs that we manage, we don't actually own the device ourselves.

In hand, and then we would have next year about $92 million.

From that and then.

Backlog at.

End of next year, and a 26 of them.

$125 million.

Speaker #1: ITMS is the platform that we use to support the DAS program. So all of those devices that we manage for our customers are included as managed using the ITMS and the ITMS is the platform the ITMS is the platform that we use to manage all of those.

When you look at the difference between what we booked in backlog and whats going forward. We of course have our commercial businesses. So the IP.

And as a service the.

You have business in Ireland and then we also have a lot of just task orders that we will get for some of the identity management stuff, which doesn't translate to backlog. It's just an order and so we actually have a deferred revenue for that.

Speaker #1: And in many cases, some of the DAS programs that we manage, we don't actually own the device ourselves. Our strategic partner, we had mentioned before, CDW, is one of them.

But barry.

I'd like to add a little bit to that and that it's down from I believe like $300 million.

Two quarters ago, and the reason for that is is that as we begin to work on these contracts we've worked down the backlog.

Jin Kang: Our strategic partner we had mentioned before, CDW, is one of them, and they would handle all of the device ownership and inventory, but they would use our ITMS system to manage all of those, you know, those devices, including technical refresh, when the devices are going to be put out to pasture, what voice plans, what data plans they're on. So ITMS is a full-service platform that we sell as software as a service.

Speaker #1: And they would handle all of the device ownership and inventory, but they would use our ITMS system to manage all of those you know those devices.

And as we get closer to the end of these various task orders, we will get a renewal contract our option year.

Period exercise that will fill that backlog back up again and so.

Speaker #1: Including technical refresh, when the devices are going to be put out to pasture, what voice plans, what data plans they're on. So ITMS is a full-service platform that we sell as software as a service.

As we get towards the end of the year, we should see more contract activity.

That's ship.

Fill up the backlog again.

Okay that sounds great. Thanks for the clarification, Jim those are my questions. Thank you.

Speaker #8: But But traditionally, the customer has owned the device whereas the distinction with DAS is you will own the device and provide it to them as a service?

Barry Sine: But traditionally, the customer has owned the device, whereas the distinction with DAS is you will own the device and provide it to them as a service. Is that correct?

Great. Thank you Barry.

Thank you and once again, everyone. If you have any questions or comments. Please press Star then one on your phone. Your next question is coming from Scott Buck from H C. Wainwright. Your line is live.

Speaker #8: Is that correct?

Speaker #1: Yeah, in some cases, rare cases, we will own the device, but it is our partner, CDW, that will own the device.

Jin Kang: Yeah, in some cases, rare cases that we will own the device, but it is our partner that will own the device, CDW.

Hey, good afternoon, guys. Thanks for taking my questions Scott.

Speaker #8: And, okay, and then talking about CDW, they're also your partner on the census. You talked about, you know, early stages on the 2030 Census.

Barry Sine: Okay. And then talking about CDW, they're also your partner on the census. And you talked about, you know, early stages on the 2030 census, but as you referenced, on August 7th, President Trump ordered the Census Bureau to quote "immediately begin work," immediately, on an interim census. I don't know if you've gotten any communication. Have you spoken with your counterparts at CDW? Have they gotten any indication on the.This

Do you know what you guys have accumulated and revenue from gws to point out.

Trying to just kind of.

Gauge what the potential opportunity is within that.

Speaker #8: But as you referenced, on August 7th, President Trump ordered the census bureau to, quote, "immediately begin work." Immediately. On a interim census, I don't know if you've gotten any communication have you spoken with your counterparts at CDW?

$3 billion number for three point out.

I'll give you a quick data point in that.

When we executed the modification for an additional $254 million.

Would have been.

A couple of quarters ago.

We had essentially the government had obligated all the half a billion dollars worth and so that they have to.

Speaker #8: Have they gotten any indication on this new you know mid-decade census?

Matthew (Operator): new, you know, mid-decade census?

Modify the contract ceiling, but another $254 million so.

Speaker #1: We have not. That information hasn't trickled down to us yet. There's some talk about doing, you know, different approaches to this. One is actually going out and doing a, you know, a mid-decennial census.

Jin Kang: We have not. That information hasn't trickled down to us yet. There are some talks about doing, you know, different approaches to this. One is actually going out and doing, you know, a, you know, mid-decennial census. There's also talks about using the existing data, which I think is probably problematic because I think they couldn't collect any of the citizenship information during the 2020 decennial census. So the jury is still out. And, you know, the information has not trickled down to us yet.

We're looking at.

Expanding all of that.

By the end of 2026 November we may have.

<unk> million.

Million dollars left at <unk>.

Speaker #1: There's also talks about using the existing data which I think is probably problematic because I think they couldn't collect any of the citizenship information during the 2020 decennial census.

Ceiling so.

I figure probably by the end of the year.

We were probably spent the entire half of $1 billion, maybe and then spend the rest of that 254 by the end of next year.

Speaker #1: So the jury is still out. And you know the information has not trickled down to us yet.

Okay. That's very helpful. And then earlier in the call you went through a number of potential opportunities.

Matthew (Operator): So hypothetically, after this call, you check your voicemail and CDW says, "Okay, Jin, we got the green light to do a 2025 census." How fast could WidePoint get devices out in the field into the hands of census takers?

For awards here in the second half.

25 in the beginning of 'twenty six how should we think about gross margin expectations for potential new business Thats out there versus.

Consolidated margins are quite good.

Jin Kang: We could do that probably within, you know, a week or two weeks, depending on how fast the carriers can provide all of these devices. And that would be a function of how fast the carriers can provide those devices, as well as, you know, our partner, CDW in this case, would need to also, you know, put all of those devices, stage them, do the logistics. And what we would do is we would track all of that. They would use our software to track all of those devices.

Yes, so so.

Okay.

If you subtract out all of the carrier services revenue, which is significant.

Excluding any other carrier services revenue, we are at somewhere around 33% I believe for the first six months of this year and we see that gradually improving as we continue to sign on.

SaaS deals and managed services deals.

Our goal is to get that too.

<unk>, 50% by the end of next year.

Matthew (Operator): So from your perspective, it is possible to do something relatively soon, let's say within the next 12 months?

And we're continuing to make that progress.

And so it's just a matter now of us closing on more.

Jin Kang: Yeah, yeah, yeah, we definitely can scale up and get everything ready. And we would probably do a lot of the logistics piece of it as well. And I think the long pole in the tent is going to be the carriers being able to provision those devices and, you know, actually conducting the census because they would have to go door to door again. And I think the first thing that has to happen, I believe, usually what happens is that the census is sent out to every address. And those addresses that do not respond to a census, that people have to go door to door. And so even so, I would imagine that we can spin up, I would say, within a, you know, two weeks, maybe a month's time to get all of these devices out there to the enumerators.

<unk> deals are more managed services deals.

And some of the mobile anchor which is all software.

Got.

That has a.

Margin.

North of 80%.

So we're looking at selling more of those mobile anchor.

Device as a service those have very high margins and 365 analyzer. These are all software deals and we should see.

Our gross margin improve.

As I said, our goal is to get that to 50% Jason mentioned that we are working with a.

A major carrier wireless carrier.

That is all.

<unk> SaaS revenue.

And we should see a fairly healthy margin on that.

Matthew (Operator): All right, we'll keep our fingers crossed to get a 2025 and a 2030 census.

And I don't want to quote numbers here at for that particular deal because that might be listening in.

Jin Kang: Yeah, that would be great if that happened.

Matthew (Operator): Yeah, yeah. My last question is on backlog, Bob. I think you mentioned it was $265 million. If you could take that number apart for us, what was it in one queue? What was it a year ago? How much of that is scheduled to be received in the next 12 months?

[laughter].

No that's all very helpful.

Great great to hear.

Jason last question I have just the sales cycle on mobile anchor in the commercial side.

How quickly can you kind of turn those deals around.

What is the near term opportunity look like there.

Unknown Operator: I think we're going to do very, I can get back to you on the historicals. But in terms of what the 265 rolls out at, we've got about 47 million for the rest of the year, you know, in hand. And then we would have next year about 92 million from that. And then, you know, we'd have backlog at the end of next year, end of '26, of like 125 million. A lot of it, when you look at the difference between what we've booked in backlog and what's going forward, we, of course, have our commercial businesses. So the IT as a service, the UCAS business in Ireland, and then we also have a lot of just task orders that we'll get for some of the identity management stuff, which doesn't translate to backlog. It's just an order.

Well it looks great.

First it's good to hear from me Scott, but.

I mean, it looks it looks really well.

Any and everything that I'm talking about right now is.

Definitely in the qualified stage.

So I don't ever want to put anything out there that is we're just scraping the surface on so.

As Bob alluded to in terms of.

The money that we're investing and growing mobile anchor and making it even more.

Technologically competitive.

We're very close on that.

Being on the cost of having something again that none of our competitors are are going to have.

<unk>.

Im very very excited but cautiously optimistic about.

Unknown Operator: And so we actually have a deferred revenue for that.

Getting these these deals over the.

Jin Kang: But, and Barry, I'd like to add a little bit to that in that, you know, it's down from, I believe, like 300 million the last two quarters ago. And the reason for that is that as we begin to work on these contracts, we've worked down the backlog. And as we get closer to the end of these various task orders, we will get a renewal contract or option year period exercise that will fill that backlog back up again. And so as we get towards the end of the year, we should see more, you know, contract activity. And that should, you know, fill up the backlog again.

The finish line, but.

Again, we've made a lot of progress there.

It'll agencies that are that have already signed up for mobile anchor that we've gotten over the finish line.

Between <unk> and <unk>.

Other folks that we have previously reported on but as I stated on the call there.

There's a lot of commercial opportunities to where when we talk about these SaaS opportunities a lot of this size.

Cyber is going to be able to.

Fault Intuit.

And then towards the end of my prepared remarks, I talked about international opportunities as well so.

Matthew (Operator): Okay, that sounds great. Thanks for the clarification, Jin. Those are my questions. Thank you.

<unk>.

Jin Kang: Great, thank you, Barry.

The future is pretty bright.

Jason Holloway: Thank you. And once again, everyone, if you have any questions or comments, please press star then one on your phone. Your next question is coming from Scott Buck from HC Wainwright. Your line is live.

I'll just leave it at that.

Great well, that's all my questions guys I appreciate the added color and looking forward to seeing what you can do here in the second half.

Great. Thank you Scott.

Jin Kang: Hi, good afternoon, guys. Thanks for taking my questions.

Thank you that concludes our Q&A session I will now hand, the conference back to Mr. Jin Kang for closing remarks. Please go ahead.

Matthew (Operator): Thank you, Scott.

Jin Kang: Jin, do you know what you guys have accumulated in revenue from CWMS 2.0? Trying to, you know, just kind of gauge what the potential opportunity is within that, you know, $3 billion number for a 3.0.

Thank you operator, we appreciate everyone, taking the time to join US today as the operator mentioned if there were any questions. We did not address today. Please contact our IR team you can find their full contact information at the bottom of today's earnings release.

Jin Kang: I'll give you a, you know, a quick data point in that. When we executed the modification for an additional 254 million, this would have been a couple of quarters ago. We had, essentially, the government had obligated all the half a billion dollars' worth. And so that they had to modify the contract ceiling by another 254 million. So we're looking at expending all of that by the end of 2026, November. We may have, you know, a few, you know, million dollars left in the ceiling. So I figure probably by the end of this year, we would probably spend the entire, you know, half a billion maybe, and then spend the rest of that 254 by the end of next year.

You again and have a great evening.

Thank you for joining us today for <unk> second quarter 2025 Conference call you may now disconnect.

Jin Kang: Okay, that's very helpful. And then earlier in the call, you went through a number of potential opportunities for awards here in the second half in '25 and the beginning of '26. How should we think about gross margin expectations for, you know, potential new business that's out there versus, you know, what consolidated margins look like today?

Okay. That's very helpful. And then earlier in the call you went through a number of potential opportunities.

For awards here in the second half in 'twenty.

<unk> 25 in the beginning of 'twenty six how should we think about gross margin expectations for potential new business, that's out there versus what consolidated margins look like today.

Jin Kang: Yeah, so, so again, you know, if you subtract out all of the carrier services revenue, which is significant, you know, excluding any of the carrier services revenue, we are at somewhere around 33%, I believe, for the first six months of this year. And we see that gradually improving as we continue to, you know, sign on, you know, DAS deals and managed services deals. Our goal is to get that to, you know, 50% by the end of next year. And we're continuing to make that progress. And so it's just a matter now of us closing on more, you know, DAS deals and more managed services deals. And some of the mobile anchor, which is all software, and that has a margin, you know, north of 80%. And so we're looking at selling more of those mobile anchor devices as a service.

Yeah. So so.

Again.

If you subtract out all of the carrier services revenue, which is significant.

Sure.

Excluding any other carrier services revenue, we are at somewhere around 33% I believe for the first six months of this year and we see that gradually improving as we continue to sign on.

Das deals and managed services deals.

Our goal is to get that too.

50% by the end of next year.

And we're continuing to make that progress.

And so it's just a matter now of us closing on more.

Das deals and more managed services deals.

And some of the mobile anchor which is all software and that has a.

Margin north of 80%.

And so we're looking at selling more of those mobile anchor device as a service those have very high margins and 365 analyzer. These are all software deals and we should see.

Jin Kang: Those have very high margins, M365 analyzer. These are, you know, all software deals. And we should see our gross margin improve. As I said, our goal is to get that to 50%. Jason mentioned that we are working with a major carrier, wireless carrier. And that is an all SaaS revenue. And we should see a fairly healthy margin on that. You know, and I don't want to quote numbers here for that particular deal because they might be listening in.

Our gross margin improve.

As I said, our goal is to get that to 50% Jason mentioned that we are working with a.

A major carrier wireless carrier.

And that is all SaaS revenue.

And we should see a fairly healthy margin on that.

And I don't want to quote numbers here at for that particular deal because they might be listening in.

Yes.

Jin Kang: No, that's all very helpful and great to hear. Jason, last question I have, just sales cycle on mobile anchor and the commercial side, how quickly can you kind of turn those deals around? And you know, what does the near-term opportunity look like there?

No that's all very helpful and.

Great great to hear.

Jason last question I have just the sales cycle on mobile anchor in the commercial side.

How quickly can you kind of turn those deals around.

What is the near term opportunity look like there.

Robert George: Oh, it looks great. You know, first, it's good to hear from you, Scott. But no, I mean, it looks really well. I mean, you know, any and everything that I'm talking about right now is definitely in the qualified stage. So I don't ever want to, you know, put anything out there that is, you know, we're just scraping the, you know, the surface on. So as, you know, as Bob alluded to in terms of the money that we're investing in growing mobile anchor and making it even more, you know, technologically competitive, we're very close on the, you know, being on the cusp of having something again that none of our competitors are going to have. And I'm very, very excited but cautiously optimistic about, you know, us getting these deals over the, you know, the finish line.

Well that's great.

First it's good to hear from me, Scott, but no I mean, it looks it looks really well I mean.

Any and everything that I'm talking about right now is.

Definitely in the qualified stage.

So I don't ever want to put anything out there that is we are just scraping the.

The surface on so.

As Bob alluded to in terms of.

The money that we're investing and growing mobile anchor and making it even more.

Technologically competitive.

We're very close on that being.

Being on the cost of having something again that none of our competitors are are going to have.

<unk>.

Very very excited but cautiously optimistic about.

Getting these these deals over.

Robert George: But, you know, again, we've made a lot of progress. There's, you know, there's federal agencies that have already signed up for mobile anchor that we've gotten over the finish line, you know, between HUD and OIG and other, you know, folks that we have, you know, previously reported on. But, you know, as I stated on the call, there's, you know, there's a lot of commercial opportunities to where when we talk about these DAS opportunities, a lot of this, you know, cyber is going to be able to fold into it. And then towards the end of my prepared remarks, I talked about international opportunities as well. So, you know, there's, you know, future's pretty bright. I'll just leave it at that.

The finish line, but.

Again, we've made a lot of progress there.

Federal agencies that are that have already signed up for mobile anchor that we've gotten over the finish line.

Between hard in Hawaii.

Other folks that we have previously reported on.

As I stated on the call theirs.

There's a lot of commercial opportunities to where when we talk about the status of opportunities a lot of this.

Cyber is going to be able to.

Salt Intuit.

And then towards the end of my prepared remarks, I talked about international opportunities as well so.

<unk>.

Yeah.

Future is pretty bright that's I'll.

I'll just leave it at that.

Matthew (Operator): Great. Well, that's all my questions, guys. I appreciate the added color and looking forward to seeing what you can do here in the second half.

Great well, that's all my questions guys I appreciate the added color and looking forward to seeing what you can do here in the second half.

Jin Kang: Great. Thank you, Scott.

Great. Thank you Scott.

Jason Holloway: Thank you. That concludes our Q&A session. I'll now hand the conference back to Mr. Jin Kang for closing remarks. Please go ahead.

Thank you that concludes our Q&A session I will now hand, the conference back to Mr. Jin Kang for closing remarks. Please go ahead.

Barry Sine: Thank you, Operator. We appreciate everyone taking the time to join us today. As the Operator mentioned, if there were any questions we did not address today, please contact our IR team. You can find their full contact information at the bottom of today's earnings release. Thank you again and have a great evening.

Thank you operator, we appreciate everyone, taking the time to join US today as the operator mentioned if there were any questions. We did not address today. Please contact our IR team.

Find their full contact information at the bottom of today's earnings release.

You again and have a great evening.

Jason Holloway: Thank you for joining us today for WidePoint's second quarter 2025 conference call. You may now disconnect.