Managed Cybersecurity Revenue Jumps 19 Percent Month Over Month
High Wire Networks Inc (OTCQB: HWNI) reported significant growth in its Overwatch Managed Cybersecurity division for the first four months of 2022. The division's monthly recurring revenue (MRR) increased 19% from March to April, with expectations of over 35% growth from Q1 to Q2. President and CEO Mark Porter emphasized the impact of their sales and service delivery teams in driving this growth, noting that their partners view cybersecurity as a critical business issue. The company continues to provide comprehensive cybersecurity solutions across 180 countries.
- Overwatch Managed Cybersecurity MRR grew 19% from March to April.
- Expected MRR growth of over 35% from Q1 to Q2.
- None.
Overwatch Managed Security Reports Rapid MRR Growth Through First Four Months of 2022
BATAVIA, Ill, May 19, 2022 (GLOBE NEWSWIRE) -- High Wire Networks Inc. (the “Company” or "High Wire") (OTCQB: HWNI), announced today High Wire’s Overwatch Managed Cybersecurity division grew its revenue from March to April, and expects similar growth from April to May.
- Overwatch MRR increased
19% March to April - Overwatch MRR expected to increase more than
35% Q1 to Q2
“The growth in our monthly recurring revenue accelerates even as the comparison periods get tougher,” said Mark Porter, High Wire President and CEO. “When you pair our Overwatch sales and service delivery teams with the best partners in the business, you drive great outcomes.”
“Our partners have embraced our philosophy that cybersecurity is a business problem, not a technology problem and they lead the charge everyday in solving the challenges of our economy and their clients’ businesses,” he added.
About High Wire Networks
For 20 years, High Wire Networks Inc.(OTCQB: HWNI) has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Marketplace enables our partners to deliver comprehensive cybersecurity that's easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at www.highwirenetworks.com.
Forward-Looking Statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Investor Relations
www.highwirenetworks.com/investors
investors@highwirenetworks.com
Media Relations
Susanna Song
Vice President of Communications
susanna.song@highwirenetworks.com
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