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About High Wire Networks Inc. (HWNI)
High Wire Networks Inc. (OTCQB: HWNI) is a globally recognized provider of managed cybersecurity services, specializing in delivering advanced, scalable solutions through its proprietary Overwatch platform. Headquartered in Chicago, Illinois, the company operates a 24/7 Security Operations Center (SOC) and Network Operations Center (NOC), supporting a diverse range of clients, including Fortune 500 companies and major government agencies. High Wire Networks serves its end customers exclusively through a network of over 200 managed service providers (MSPs) and managed security service providers (MSSPs), ensuring localized expertise and global reach.
Core Business Areas
High Wire Networks focuses on three primary business areas:
- Managed Cybersecurity Services: The company’s flagship Overwatch platform provides Managed Extended Detection and Response (MXDR), Security Orchestration, Automation, and Response (SOAR), and Firewall as a Service (FWaaS). These services leverage AI/ML technologies to deliver real-time threat detection, analysis, and remediation, ensuring comprehensive protection for enterprise networks.
- Cyber Advisory Consulting: High Wire offers specialized cybersecurity consulting services, including risk assessments, compliance support, incident response management, and board-level advisory. These services are designed to align clients’ security postures with industry best practices and regulatory requirements.
- Telecom Solutions: Through its Secure Voice Corporation (SVC) subsidiary, High Wire provides VoIP and data network services, enhancing secure communications for its clients.
Market Position and Differentiators
High Wire Networks stands out in the competitive managed cybersecurity market through its innovative use of AI-driven automation and its channel partner-centric business model. The Overwatch platform’s hyperautomation capabilities enable the company to scale efficiently, delivering higher margins and enhanced service quality. Recognized by Frost & Sullivan as a Top 15 Managed Security Service Provider in the Americas, High Wire has also been featured on CRN’s MSP 500 and Elite 150 lists, underscoring its industry leadership.
Channel Partner Network
The company’s extensive network of channel partners is a cornerstone of its business strategy. By collaborating with MSPs and MSSPs, High Wire extends its reach to thousands of end customers across various industries, including retail, healthcare, education, and government. This partner-first approach allows the company to focus on innovation and service delivery while empowering its partners to grow their cybersecurity offerings.
Proprietary Technology
At the heart of High Wire’s operations is Overwatch SOAR™, a proprietary platform that integrates advanced threat detection and response capabilities. By consolidating alerts from multiple sources and applying intelligence-based rules, Overwatch SOAR enhances visibility, improves correlation, and accelerates remediation. This technology serves as a force multiplier for the company’s security analysts, enabling cost-effective and efficient service delivery.
Industry Recognition
High Wire’s commitment to excellence has earned it numerous accolades, including being ranked among the Top 250 MSSPs by MSSP Alert and receiving high rankings in Frost & Sullivan’s cybersecurity industry reports. These recognitions validate the company’s innovative approach and its ability to address the evolving needs of its partners and customers.
Conclusion
High Wire Networks Inc. is a leader in the managed cybersecurity space, known for its cutting-edge technologies and partner-centric approach. By focusing on scalable, high-margin services and leveraging its proprietary Overwatch platform, the company is well-positioned to meet the growing demand for robust cybersecurity solutions. With a strong foundation of industry expertise and a commitment to innovation, High Wire Networks continues to set benchmarks in the managed services industry.
High Wire Networks Inc. (OTCQB: HWNI) has secured an additional $6.7 million for a technology deployment project, increasing the total contract value to over $12 million. The project will involve deploying multiple technologies across thousands of stores in the U.S. and U.S. territories. CEO Mark Porter emphasized the importance of long-term programs for sustained success, while EVP Don Schmidt expressed excitement about collaborating with their systems integrator partner. This expansion enhances High Wire's position in technology services.
High Wire Networks (OTCQB: HWNI) has secured a $5 million project to refresh technology in over a thousand U.S. stores. The initiative encompasses wireless solutions including predictive surveys and network cabling, supported by the company's global command center for project management. This marks a significant expansion, with over $18 million in total opportunities this year, covering more than 3,000 facilities. High Wire has established itself as a reliable partner, enhancing operational efficiency and customer satisfaction across various sectors.
High Wire Networks (OTCQB: HWNI) reported a significant 44% year-over-year increase in revenue for Q2 2022, totaling $13.7 million. The company achieved a net income of approximately $5.4 million, contrasting with a net loss of $2.25 million in Q2 2021. This marks the fourth consecutive quarter of revenue growth, with Overwatch Managed Security revenue increasing by 316%. The company ended the quarter with nearly 600 Overwatch clients and continues to focus on scalability and profitability despite market challenges.
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.
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.
High Wire Networks (OTCQB: HWNI) reported a significant revenue growth of 82% year-over-year, totaling $12.7 million for Q1 2022. The company achieved a net income of $5 million, contrasting with a net loss of over $10 million in Q1 2021. Strong performance in its Overwatch Managed Security service, with a 65% increase in paying clients and a 44% rise in revenue from Q4 2021, underscores its growth trajectory. High Wire aims for operational profitability with ongoing debt restructuring to ease financial burdens.
High Wire Networks (OTCQB: HWNI) reported a 41% growth in pro forma revenue for Q4 2021 compared to Q4 2020, following over 20% growth in Q3 2021. The company's Overwatch Managed Cybersecurity customer growth surged by 300% in the second half of 2021, with a 100% increase in channel partners. The staffing segment's annual run rate increased from $14 million to $25 million, nearly doubling its gross profitability. High Wire also secured over $10 million in booked projects during Q4 2021, demonstrating strong backlog growth across segments.
High Wire Networks Inc (OTCQB: HWNI) has partnered with Archetype SC to deliver Overwatch Managed Cybersecurity services, marking a significant multiyear, monthly recurring revenue deal. The partnership has secured its first contract with a large construction firm following prior ransomware attacks. This deal emphasizes the effectiveness of Overwatch’s 24/7 Security Operation Center and integrated detection responses, enhancing cybersecurity measures for clients across various sectors. The collaboration aims to address critical security needs and minimize risks for clients.
High Wire Networks (OTCQB: HWNI) has initiated a $2 million wireless solution project across 63 stores and 12 distribution centers in the U.S. for a supermarket chain. The project includes predictive wireless surveys and installation of thousands of cables and access points, along with network hardware upgrades. This project is managed to avoid disruption to the grocery chain's operations. Their CEO emphasized the company's commitment to delivering comprehensive solutions regardless of the project's scale.
High Wire Networks (OTCQB: HWNI) has secured a federal contract to provide technology services, marking the 15th consecutive year of partnership with a federal agency. The company emphasizes its capacity to deliver skilled personnel worldwide, fulfilling service agreements in as little as two hours. High Wire manages over 200,000 technology professionals across more than 180 countries, offering a range of services, including managed services, field technical support, and cybersecurity solutions through its Overwatch Managed Security Marketplace.
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