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© 2015 WIDEPOINT CORPORATION. ALL RIGHTS RESERVED.
January 2015
WidePoint CorporaDon Investor PresentaDon
NYSEMKT: WYY
Safe Harbor
Safe Harbor Statement under the Private Securi4es Li4ga4on Reform Act of 1995: This press release may contain forward-‐looking informa4on within the meaning of Sec4on 21E of the Securi4es Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expecta4ons of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affec4ng the company's financial condi4on or results of opera4ons; (iii) the company's growth strategy and opera4ng strategy; (iv) an4cipated revenues for the third quarter ended September 30, 2014; and (v) the risk factors disclosed in the Company's periodic reports filed with the SEC. The words "may," "would," "will," "expect," "es4mate," "an4cipate," "believe," "intend" and similar expressions and varia4ons thereof are intended to iden4fy forward-‐looking statements. Investors are cau4oned that any such forward-‐looking statements are not guarantees of future performance and involve risks and uncertain4es, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-‐looking statements as a result of various factors including the risk factors disclosed in the company's Forms 10-‐K and 10-‐Q filed with the SEC.
© 2015 WIDEPOINT CORPORATION 2
• Leading provider of Managed Mobility Services focused on Telecom Lifecycle Management and Cybersecurity
• Headquarters in McLean, VA
• Approximately 300 employees
• Demonstrated strong performance on contracts with government agencies and contractors; Recent commercial wins driving enterprise penetraDon both domesDcally and internaDonally
Company Overview ProtecDng and managing the integrity of communicaDons for organizaDons with elegant, easy to use and cost effecDve soluDons
Managed Mobility Services
Telecom Lifecycle Management
Cybersecurity SoluDons
SoluDon Partners
Comprehensive, leading-‐edge, secure Managed Mobility Services that meet the
ongoing challenges of acceleraDng technology, cyber threats, and evolving
customer requirements
TEM soluDons, including a customer Web portal, inventory tracking, service catalog development, mobility invoice audits, 24/7 help desk and more
Digital cerDficates, credenDals, idenDty management, informaDon assurance; our experDse in federated, compliant cybersecurity is applied to mobile security
Partnerships to offer addiDonal mobility services (Truphone, Mobile Pulse) and build unique technology soluDons (Thales e-‐Security, Xceedium, Spyrus) that further differenDate us in the market
Analyst Expecta.ons of Q4 2014 revenue $15M+ and 2015 revenue of $70M -‐ $80M
© 2015 WIDEPOINT CORPORATION 3
IdenDty Assurance & Device Management Converging
§ EVERY organizaDon – enterprise or government – must idenDfy who is accessing their network
§ TradiDonal approach of passwords and secure ID cards is outdated and has shown itself to be be highly vulnerable to unauthorized access – 3,000 KNOWN Fortune 100 network breaches in 2013
§ IT managers want a single vendor to manage idenDDes and physical devices
§ A new approach is needed
§ Market need is accelera.ng
WYY SoluDon
§ Secure idenDty assurance and device management to the new mobile workforce
― Cost-‐effecDve, fully-‐scalable, mulD-‐ plagorm
― Proven and cloud-‐based § First to market with
Mobile Security-‐first offering
§ Only provider of federated idenDty assurance and device management across mulDple hardware and OSs
§ Combine experDse in credenDaling and TLM, both with more than 10+ years experience
Problem
© 2015 WIDEPOINT CORPORATION 4
IdenDty is the new perimeter in the cloud’s virtual, mobile, and sojware-‐defined world
IdenDty & Access Management
Source: TechCrunch arDcle, “Hacking the Bomom Line,” August 28, 2014. [techcrunch.com/2014/08/28/hacking-‐the-‐bomom-‐line/]
$11B
$10B
$7B
$6B
$5B
$4B
$2B $2B
$47B 2017
$6B 2014
§ As businesses become increasingly connected, Next Gen IdenDty security is expected to grow over 7x by 2017
§ Demand for secure access driving significant growth in the idenDty and access management market
© 2015 WIDEPOINT CORPORATION 5
Cloud-‐Based IdenDty Assurance
Iden.ty Assurance in the cloud
§ Uniform – fully federated soluDon
§ MulD-‐plagorm – BYOD, mulDple O/S
§ Scalable (sojware, MicroSD, hardware embedded)
Windows Phone
iOS
Android
BlackBerry
PC Notebook
Cloud
Windows To Go
© 2015 WIDEPOINT CORPORATION 6
WidePoint’s proven experDse in mobility and security soluDons uniquely posiDons it to address a wide range of opportuniDes
CompeDDve Landscape
Compe.tors
TLM MDM IAM EMM
Expense and Lifecycle Management
Iden.ty Assurance
Commercial Focus (Enterprise Mobility)
Cross PlaTorm / Federated Model
Segment offers this capability Segment DOES NOT offer this capability
© 2015 WIDEPOINT CORPORATION 7
IdenDty Assurance Go-‐to-‐Market
3,000 Key Market Drivers
Corporate Websites Hacked in 2013 3,000+
Device Addressable Market 100M+
$1 -‐ $5 per CerDficate per Month
Expected penetraDon for amribute-‐based security(1)
Current penetraDon for amribute-‐based security(1)
70%
5%
WidePoint Partners
Handset Security Enterprise
Enterprise SoluDon
First Responders
Other Leading OEMs
Hardware Security Modules
Windows To Go®
Biometrics
Hardware Security Modules
TPM
Cert-‐on-‐Device
Machine-‐to-‐Machine Creden.als
Derived Certs
Other Large Enterprises
(1) By 2020 Gartner predicts 70% of enterprises will use amribute-‐based access control as the dominant means of protecDng criDcal assets. Gartner esDmates only 5% of enterprises currently use amribute-‐based access control.
© 2015 WIDEPOINT CORPORATION 8
Large Market Opportunity Key go-‐to-‐market partners
Major OEMs Named (excluding unnamed addiDonal OEM) • Kyocera – targeDng first-‐responder and secured ruggedized phone market (forecast to
exceed 25 million users) • LG – Focus top 20 global accounts w/ more than 30 million Global Enterprise Clients • Windows To Go/SPYRUS – Forecast to > 10’s of millions of users (10% secured marketplace) • Trusted PlaTorm Module (TPM) – Windows PCs, tablets, and phones
– WYY has demonstrated that they can put a device cert into a TPM – majority of all enterprise-‐ready PCs come equipped with TPM; the total available market is over 500
million enterprise-‐ready PCs installed
Major Carriers Named (excluding several carriers in early stage discussions) • AT&T
– WYY is working with Federal and Enterprise management teams – Invited to parDcipate in the AT&T Cyber Conference, where WYY generated more than 125 acDve
leads cover mostly large enterprises as well as 9 Fortune 500 companies
• BT Global – BT Global (US-‐based) is responsible for bringing security soluDons to BT’s top 250+ clients, with more
than 50% global enterprises. – BT services more than 4 million clients
© 2015 WIDEPOINT CORPORATION 9
2014 Evidence of Success – Gov’t
• Awarded task orders with contract value in excess of $190 million on sole-‐awardee $600 million DHS BPA – 4 major agencies remaining
• U.S. Army Corps of Engineers; Two agencies under the Department of JusDce; and three agencies within the Department of Health and Human Services (HHS)
• Western States ContracDng Alliance (WSCA)
• Soj-‐ex inclusion in G-‐Cloud 5, the latest iteraDon of the UK Government’s cloud compuDng framework
TASK ORDERS RECEIVED SINCE Q1 2014
Task ContractAnnounced Orders Value10/8/14 New Federal Govt. Agency 4 $2.79/30/14 Civil ian Aviation Security & Subcomponent 2 $87.99/18/14 U.S. Citizenship and Immigration Services 1 $23.46/4/14 Federal Law Enforcement Agencies (2) 2 $28.95/27/14 Department of Health and Human Services 1 $47.54/21/14 Federal Protective Services 1 $2.3
TOTAL 11 $192.7
© 2015 WIDEPOINT CORPORATION 10
2014 Evidence of Success -‐ Enterprise
• Developed CerDficate-‐on-‐Device & other credenDals MSM soluDons/services • Announced partnerships with LG and Kyocera, and working with a third large OEM
to embed CerDficate-‐on-‐Device security offering into OEM equipment
• Expanding relaDonship with U.S. and U.K based Telecom Provider • Enterprise awards:
– Gained a new European telecom and railroad client – Added new holding company client with 15 diverse subsidiaries – Added approximately 11 new Managed Mobility clients in Q3 2014; more than 70 in
past four months—42 cybersecurity related – Added (2 new internaDonal clients) Oil Services & Consumer Products – M2M win – Defense Electronics Firm
• Expanded significantly the Compass RelaDonship (mulD-‐country & channel opportunity)
• Acquired Soj-‐ex for approximately $6 million to further penetrate Europe and expand carrier relaDonships
© 2015 WIDEPOINT CORPORATION 11
2015 Pilots and OpportuniDes
• COD Pilots: 1 Million – 5 Million ($1 -‐ $5 per device per month) – Money Center Bank, DoD Agency, DHS Agency, First Responders, and
Teleworkers IniDaDve (w/Partners)
• DHS BPA – three agencies remaining, ICE just announced to Ramp 2015 – (Coast Guard, Secret Service, and FEMA remaining for 2015)
• Other Government OpportuniDes: – U.K. Government IniDaDve – United NaDons IniDaDve – NATO IniDaDve – Western States Alliance OpportuniDes – 6 new state opportuniDes
• Major Enterprise OpportuniDes: – Compass – Next five countries….on the path to a global showcase! – Partners – Go-‐to-‐Market commences w/ATT, BT, handset manufacturers, etc.
© 2015 WIDEPOINT CORPORATION 12
Financial Drivers
Gross Profit & Margin
Revenue
Strong Growth Outlook
§ Revenue growth from new contract awards, commercial iniDaDves and sales & markeDng investment
DHS $600M Single Awardee / Channel Partners / Cert-‐on-‐a-‐Device
Recurring Revenue Model
§ Growing recurring revenue base to drive greater visibility and operaDng leverage
High recurring revenue base / ~75% 2013 revenue from customers greater than 5 years
Margin Expansion
§ Gross profit expansion with emerging higher value services will drive meaningful operaDng leverage Gross margin expansion since 2011
Customer Mix
Improving
§ Expanding higher margin commercial, internaDonal, state and local revenue to augment “Federal” exposure
Mul.ple non-‐federal growth opportuni.es in 2014 and beyond
**Annualized revenues based on June 30, 2014 quarter run rate.
© 2015 WIDEPOINT CORPORATION 13
Why WYY and Why now?
© 2015 WIDEPOINT CORPORATION 14
WidePoint Has Solu.ons the Market Needs
§ Brings over 10 years of credenDaling for the DoD and Federal government
§ Has developed a cost-‐effecDve, mulD-‐plagorm commercial offering leveraging government experience
§ Has aligned with criDcal partners to bring soluDon to market
§ SoluDon merges idenDty assurance with device management – TLM + cybersecurity
§ Mobile workforce expanding faster than any prior technology cycle
§ BYOD is forcing IT departments to support all plagorms
§ MDM has failed to deliver a security-‐first soluDon § IdenDty assurance has become criDcal to prevent
network breaches § Technology is available and affordable
Market Opportunity is Accelera.ng