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High Wire Networks Inc - HWNI STOCK NEWS

Welcome to our dedicated news page for High Wire Networks (Ticker: HWNI), a resource for investors and traders seeking the latest updates and insights on High Wire Networks.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect High Wire Networks's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of High Wire Networks's position in the market.

News
High Wire Reports 2023 Revenue of $27.0 Million, with Annualized Recurring Revenue at $12.0 Million
Rhea-AI Summary
High Wire Networks, Inc. reported 2023 revenue of $27.0 million with annualized recurring revenue at $12.0 million. The company achieved growth despite industry downturn, with a 58% sequential revenue increase expected in Q1 2024. Overwatch managed cybersecurity services revenue increased by 75% to $4.0 million. The company reduced operating expenses by $3 million and eliminated over 8.6 million common stock equivalents. Total liabilities decreased by 49% to $13.6 million. High Wire secured $600,000 in net proceeds from a debt financing offering. The company won several technology projects totaling millions, signed significant annual contract renewals, and launched new cybersecurity services. The outlook for 2024 is positive, with expected revenue growth and positive adjusted EBITDA.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.21%
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News
High Wire Awarded Additional Fiber Installation Project for National Environmental Solutions Provider, Bringing Total Value of Engagement to $2.8 Million+
Rhea-AI Summary
High Wire Networks, Inc. (HWNI) secures a $1.23 million fiber installation project for a Fortune 500 national environmental solutions provider, in addition to a $1.6 million annual contract renewal. The total value of the engagements now exceeds $2.8 million. The project involves running nine miles of fiber optic cabling across 133 sites, expected to be completed by December 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.62%
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none
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News
High Wire Awarded Contract Renewal to Deliver Full Range of Tech Managed Services for National Environmental Solutions Provider
Rhea-AI Summary
High Wire Networks, Inc. (HWNI) secures a $1.6 million annual contract renewal to provide technology managed services to a Fortune 500 national environmental solutions provider, with potential for additional services. The engagement, facilitated by a premier global channel partner, aims to expand revenue generation through on-site support, equipment installation, WiFi access points, and more across 1,300 locations in the U.S. and Canada.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.13%
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none
News
High Wire Networks to Present at the 36th Annual ROTH Conference, March 18-19, 2024
Rhea-AI Summary
High Wire Networks, Inc. (HWNI) has been invited to present at the 36th Annual ROTH Conference, showcasing its market leadership in managed cybersecurity services. The company's growth is fueled by 625 channel partners and strong relationships with SMBs, enterprise customers, and government agencies.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.76%
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conferences
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News
High Wire Networks Named to CRN MSP 500 and Elite 150 Listings of Nation’s Top IT Managed Service Providers
Rhea-AI Summary
High Wire Networks, Inc. (HWNI) has been recognized by CRN Magazine for the second year in a row, being listed on the MSP 500 and Elite 150 lists. The company's innovative channel partner program boasts over 625 members worldwide, including Fortune 500 companies. High Wire's vendor-agnostic integration strategy and award-winning cybersecurity platform have contributed to its rapid growth and market expansion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.53%
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none
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News
High Wire Networks Launches Pilot Project as Part of a $2.4 Billion, 10-Year Network Modernization Initiative
Rhea-AI Summary
High Wire Networks, Inc. (HWNI) has secured a major pilot project with a national wireless network operator for a large U.S. government agency, representing the initial phase of a $2.4 billion network modernization program for the agency's 4,000 locations across the U.S. The project is expected to be completed by 2026, with a material portion planned to be implemented this year. High Wire expects to be engaged for the remaining stages of the modernization initiative. The company's project delivery backlog is currently at $6.4 million and is expanding, indicating a rebound in the market for their tech enablement business.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.72%
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none
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
earnings
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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%
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none
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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
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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%
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High Wire Networks Inc

OTC:HWNI

HWNI Rankings

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HWNI Stock Data

12.57M
140.26M
41.7%
6.67%
Electromedical and Electrotherapeutic Apparatus Manufacturing
Manufacturing
Link
US
Longwood

About HWNI

spectrum global solutions inc, formerly mantra venture group ltd, is in the business of developing and providing energy alternatives. the company also provides marketing and graphic design services to help companies optimize their environmental awareness presence through the government, industry and the general public. the company is engaged in building a portfolio of companies and technologies that mitigate negative environmental and health consequences that arise from the production of energy and the consumption of resources. the company owns a process for the electro-reduction of carbon dioxide (erc) and has the global license for a mixed-reactant fuel cell (mrfc). it is developing these technologies toward commercial applications. the company, through its subsidiaries aw solutions and adex corporation, provides telecommunication infrastructure and staffing services.