Overwatch Managed Security Reports Rapid MRR Growth Through First Six Months of 2022
High Wire Networks (OTCQB: HWNI) reported a significant growth in its Overwatch Managed Cybersecurity division, with a 111% increase in monthly recurring revenue for the first half of the year. Key metrics include a 32% year-to-date increase in Overwatch partners and a 196% rise in paying tenants. The company's commitment to enhancing its managed security roadmap has driven value for its partners, according to CEO Mark Porter. High Wire continues to provide vendor-agnostic services across more than 180 countries, positioning itself as a critical player in the cybersecurity landscape.
- Monthly recurring revenue up 111% in the first half of the year.
- 32% increase in Overwatch partners year-to-date.
- 196% increase in paying tenants year-to-date.
- None.
Managed Cybersecurity Revenue Jumps 111 Percent First Half of Year
BATAVIA, Ill., June 30, 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 monthly recurring revenue by 111 percent, in step with the growth of partner acquisitions and end customer opportunities.
- Overwatch partners increased 32% YTD,
18% Q1 to Q2 - Overwatch paying tenants increased more than 196% YTD,
92% from Q1 to Q2
“The acceleration of our Overwatch growth is aligned with the commitment we made to our MSP and channel partners to expand our managed security roadmap, driving tremendous value to their businesses,” said Mark Porter, High Wire President and CEO. “Our continued investments deliver customized solutions that improve the maturity of our partner’s cybersecurity program.”
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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