HIGH WIRE NETWORKS INC. - HWNI STOCK NEWS

Welcome to our dedicated page for HIGH WIRE NETWORKS news (Ticker: HWNI), a resource for investors and traders seeking the latest updates and insights on HIGH WIRE NETWORKS stock.

High Wire Networks, Inc. (OTCQB: HWNI) is a dynamic global provider of managed cybersecurity and IT enablement services. Established as a leader in the IT sector, High Wire Networks boasts over 625 channel partners and serves nearly 1,000 managed security customers, along with tens of thousands of technology customers worldwide. The company's clientele includes numerous Fortune 500 companies and significant government agencies.

High Wire Networks operates through several strategic subsidiaries, including AW Solutions and Adex Corporation, providing extensive telecommunication infrastructure and staffing services. Their innovative solutions span the deployment of advanced optical fiber and wireless infrastructure, detailed logistics management, and comprehensive reporting.

One of the company's noteworthy projects includes partnering with a national wireless network operator to modernize the network infrastructure for a major U.S. government agency. This project, valued at $2.4 billion, involves upgrading 4,000 locations across the United States over the next decade, highlighting High Wire’s capability to manage extensive and complex technological deployments.

In the realm of cybersecurity, High Wire's award-winning Overwatch managed cybersecurity platform has expanded significantly, earning the company recognition from Frost & Sullivan as one of the Top 12 Managed Security Service Providers in the Americas for 2023. The platform's user base has grown by 16%, serving over 1,100 SMBs and enterprise customers globally.

High Wire Networks has also made substantial strides in IT enablement, securing significant contracts with major retailers for Wi-Fi and IT infrastructure upgrades. These projects, including a $5.3 million Wi-Fi upgrade, underscore the company’s expertise and trusted partnership with top-tier technology resellers and integrators.

The company's financial health reflects robust growth, with a notable 58% revenue increase expected in Q1 2024, driven by strategic transitions to higher-margin recurring cybersecurity revenue streams. High Wire also maintains a solid project delivery backlog, ensuring sustained revenue generation and positive adjusted EBITDA.

High Wire Networks' commitment to innovation and excellence is further underlined by its inclusion in CRN's MSP 500 and Elite 150 lists, recognizing the top IT managed service providers in the nation. The company's dedication to vendor-agnostic integration and multi-tech/multi-site service delivery capabilities ensures they meet evolving market demands efficiently.

Headquartered in Chicago with additional offices in Puerto Rico and the United Kingdom, High Wire Networks continues to expand its global footprint, leveraging a robust network of 15,000 field technicians and a 24/7 Network Operations Center and Security Operations Center in the U.S.

For more information, visit HighWireNetworks.com, follow the company on Twitter, view their extensive video series on YouTube, or connect on LinkedIn.

12/11/2023 08:05 AM

News

High Wire Networks Reports Preliminary Third Quarter 2023 Results

Rhea-AI Summary

High Wire Networks, a leading global provider of managed cybersecurity and technology enablement, reported a record annualized recurring revenue of $15.6 million, up 30% from the previous quarter. The company's Overwatch Managed Cybersecurity TCV also increased by 53% sequentially to a record $9.5 million. Despite a 1% sequential revenue increase in the third quarter of 2023, the company experienced a 5% decline from the same year-ago quarter due to an industry slowdown and customer delays in Wi-Fi upgrade projects. However, the first nine months revenue increased by 20% to $22.1 million, driven by recurring revenue from new customers and project revenue. The company also secured $1.15 million of a $5 million convertible note offering and implemented a successful cost-cutting and operational optimization program, reducing expenses by more than $3 million on an annualized basis. High Wire Networks is also looking to uplist to a national exchange.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2.47%

Tags

11/17/2023 08:31 AM

News

High Wire Networks Joins Forces with Exclusive Networks to Offer Advanced Managed Cybersecurity Services

Rhea-AI Summary

High Wire Networks, Inc. (OTCQB: HWNI) partners with Exclusive Networks (Euronext Paris: EXN) to provide enhanced capabilities for Managed Endpoint Detection and Response (MEDR). The partnership involves integrating High Wire’s Overwatch Managed Cybersecurity Services with Exclusive’s Endpoint Detection and Response (EDR) offering provided by SentinelOne (NYSE: S), making Exclusive Networks’ EDR technology a more comprehensive MEDR solution. The new MEDR solution will be available to Exclusive Networks’ more than 2,500 customers across several markets, including MSP, MSSP, banking, finance, education, and healthcare.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-5.44%

Tags

09/29/2023 08:00 AM

News

High Wire Networks Enters into $5 Million Securities Purchase Agreement

Rhea-AI Summary

High Wire Networks, Inc. plans to issue up to $5 million in senior secured convertible promissory notes and warrants to accredited investors to retire higher interest debt and secure growth capital. The company has already issued $1.15 million of the Notes and corresponding Warrants to two institutional investors. The Notes are convertible into common stock at maturity with a conversion price set at $0.10. The Warrants are priced at $0.15 per share for a term ending in 5 years. Proceeds will be used for working capital and general corporate purposes.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-- %

Tags

09/19/2023 08:31 AM

News

High Wire Networks Named to MSSP Alert’s 2023 List of Top 250 MSSPs

Rhea-AI Summary

High Wire Networks, Inc. ranks among the Top 250 MSSPs for 2023, expecting strong revenue growth. MSSP honorees expect to generate $56.3 million in revenue for 2023, double the number from 2022. High Wire reported revenue climbed 32% in H1 2023 to $16.1 million and expects revenue to grow 59% to 74%, reaching $43 million to $47 million for the full year of 2023.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-4.02%

Tags

08/29/2023 08:31 AM

News

High Wire Networks to Present at National Investment Banking Association Conference, September 6-7, 2023

Rhea-AI Summary

High Wire Networks, Inc. to present at NIBA Conference, revenue climbed 32% in H1 2023 to $16.1 million, monthly recurring revenue exceeds $1 million for the first time.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

4.93%

Tags

08/15/2023 07:00 AM

News

High Wire Reports Revenue of $16.1 Million in First Half of 2023, with Monthly Recurring Revenue Reaching Record $1 Million

Rhea-AI Summary

High Wire Networks, Inc. reported first half 2023 revenue of $16.1 million, a 32% increase from the same period last year. The company's total contract value for managed cybersecurity services reached $6.0 million, and project delivery backlog totaled $8.6 million. Total liabilities decreased by 59% to $11.1 million, and cash increased to $1.2 million. High Wire expects revenue to grow 59% to 74% for the full year of 2023, reaching $43 million to $47 million.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-7.33%

Tags

08/01/2023 08:31 AM

News

High Wire Networks Awarded $1 Million IT Project as First Phase of Wi-Fi Upgrade for Fortune 200 Department Store Chain

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

4.47%

Tags

07/25/2023 08:31 AM

News

High Wire Networks CMO, Susanna Song, Named to CRN 2023 Inclusive Channel Leaders List

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2.23%

Tags

07/17/2023 10:45 AM

News

High Wire Networks Introduces Next-Gen, Industry-Disruptive Cybersecurity Technology Utilizing New Overwatch Universal Secure Enterprise Browser Extension

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.72%

Tags

07/12/2023 08:31 AM

News

High Wire Networks to Unveil Next-Generation, Industry-Disruptive Cybersecurity Technology on July 17, 2023

Rhea-AI Summary

High Wire Networks, Inc. will introduce a new enterprise-class cybersecurity technology during a virtual product launch event on July 17, 2023. The new solution combines multiple networking and network security services into a single element, providing enhanced protection, user experience, and capabilities. It employs an identity-based approach to secure access to enterprise resources and transforms web browsers into secured browsers. The technology utilizes artificial intelligence, crowd sourcing, and distributed computing for powerful protection against cybersecurity threats. High Wire aims to disrupt multiple market segments with this innovative solution.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-- %

Tags

FAQ

What is the current stock price of HIGH WIRE NETWORKS (HWNI)?

The current stock price of HIGH WIRE NETWORKS (HWNI) is $0.0386 as of December 24, 2024.

What is the market cap of HIGH WIRE NETWORKS (HWNI)?

The market cap of HIGH WIRE NETWORKS (HWNI) is approximately 12.1M.

What services does High Wire Networks provide?

High Wire Networks offers managed cybersecurity, IT enablement services, telecommunication infrastructure, and staffing services.

What are some notable projects by High Wire Networks?

Notable projects include a $2.4 billion network modernization for a U.S. government agency and several large-scale Wi-Fi upgrade projects for major retailers.

Who are High Wire Networks' customers?

High Wire Networks serves nearly 1,000 managed security customers, tens of thousands of technology customers, numerous Fortune 500 companies, and major government agencies.

What is High Wire Networks' Overwatch platform?

The Overwatch platform is an award-winning managed cybersecurity service, recognized as a Top 12 Managed Security Service Provider in the Americas for 2023 by Frost & Sullivan.

Where is High Wire Networks headquartered?

High Wire Networks is headquartered in Chicago, USA, with additional offices in Puerto Rico and the United Kingdom.

How does High Wire Networks support its clients?

High Wire Networks provides 24/7 technical support and customer service through its global command center, along with on-demand logistics management and program coordination.

What recognitions has High Wire Networks received?

High Wire Networks has been named to CRN's MSP 500 and Elite 150 lists and ranked as a Top 12 Managed Security Service Provider in the Americas by Frost & Sullivan.

How many employees does High Wire Networks have?

High Wire Networks employs 125 full-time staff globally.

What is the significance of High Wire Networks' recent contract renewals?

Recent contract renewals reflect High Wire's trusted partnership with significant clients and the ongoing demand for their managed cybersecurity and IT services.

What future projects are planned for High Wire Networks?

Future projects include continued expansions in network modernization, fiber installation projects, and new cybersecurity offerings to drive revenue and growth.