High Wire Networks Inc. Stock Price, News & Analysis

High Wire Networks (OTCQB: HWNI) reported strong financial results for 2024, with continuing operations revenue increasing 21% to a record $8.38 million. The company's Secure Voice achieved profitability and positive cash flow, while Overwatch demonstrated significant growth with a 134% increase in monthly recurring revenue over six months.

Key developments include the strategic sale of its technology services business in June 2024, allowing focus on managed cybersecurity solutions. The company implemented operational improvements, including a virtualized platform at Secure Voice Corp and strategic leadership transformation in Q3, appointing industry veterans to key positions.

Financial highlights show total operating expenses decreased to $16.9 million from $18.8 million in 2023. The company achieved a net income of $0.4 million in 2024, which included $9.7 million from discontinued operations, compared to a net loss of $14.5 million in 2023.

High Wire Networks (OTCQB: HWNI) has secured a new partnership with a prominent North American MSP location to manage over 1,100 endpoint security installations through its Overwatch platform. The MSP, part of a network with 275+ locations across North America, selected High Wire for its integration with SentinelOne and proven capabilities.

The partnership enables the MSP to streamline operations, reduce overhead, and deliver enterprise-grade cybersecurity services. The MSP will also introduce High Wire's complete suite of professional services and managed security offerings to its client base, focusing on scalable, high-margin solutions.

The deal demonstrates increasing demand for turnkey cybersecurity platforms that seamlessly integrate with existing services, allowing partners to scale operations and enhance client protection without building internal infrastructure.

High Wire Networks (OTCQB: HWNI) has secured a new bundled services contract worth over $275,000 over 24 months with an MSP partner. The contract features the CORE bundle from High Wire – Overwatch's newly launched managed cybersecurity service offerings, which includes protection for network, email, endpoint, and phishing threats.

The company's cybersecurity bundles come in three tiers: CORE, PROACTIVE, and COMPLETE, designed to provide flexible and scalable protection. According to Mark Dallmeier, Chief Revenue Officer at Overwatch, these bundles help partners deliver enhanced value and faster time-to-protection while promoting long-term security maturity.

The partnering MSP CEO from New Jersey reported positive client feedback, highlighting reduced malicious email threats and improved security capabilities through the comprehensive protection approach.

High Wire Networks (OTCQB: HWNI) is enhancing its cybersecurity platform with AI-driven hyper-automation through strategic partnerships with SentinelOne (NYSE: S) and D3 Security. The company's Overwatch division integrates AI-powered threat detection, automated response, and hyper-automation to improve security outcomes for Managed Service Providers (MSPs).

Through SentinelOne's Singularity platform, Overwatch unifies cloud, endpoint, and firewall logs for threat correlation, utilizing Purple AI for advanced threat detection. As a trusted partner in SentinelOne's UXIP program, Overwatch gets early access to beta features and product capabilities.

The partnership with D3 Security enhances automation capabilities, integrating alerts from multiple sources and enabling automated responses. D3's upcoming Morpheus AI solution, launching in 2025, will provide real-time detection and autonomous analysis of cyber threats, supporting Overwatch's 24/7 Security Operations Center (SOC).

High Wire Networks (OTCQB: HWNI) has secured a significant customer renewal and expansion agreement through its Overwatch managed cybersecurity division. The contract, valued at nearly $720,000 over two years, represents both a renewal and additional Annual Recurring Revenue (ARR).

The customer, a technology services provider supporting public sector clients and critical infrastructure across North America, has expanded its commitment to the Overwatch suite of services. The success highlights High Wire's enhanced bundling strategy, which enables partners to fractionalize security services across their client base.

According to Mark Porter, President and CEO, this renewal demonstrates the effectiveness of their platform in enabling partners to scale security visibility and bundle capabilities more effectively. The company's strategy focuses on delivering fully integrated solutions rather than individual point solutions, aiming to transform the economics of managed cybersecurity.

High Wire Networks (OTCQB: HWNI) has announced the cancellation of its $10 million Equity Line of Credit (ELOC), which was part of a recent bridge financing package with an investment fund. CEO Mark Porter confirmed that the ELOC was never accessed and its cancellation was mutually agreed upon with the investment fund.

The company's decision to cancel the ELOC is aimed at minimizing shareholder dilution, as management believes it will not be necessary for future operations. High Wire Networks continues to focus on maintaining a strong balance sheet and capital structure that aligns with its long-term growth objectives in the managed services and technology solutions sector.

High Wire Networks (OTCQB: HWNI) has secured its first professional services client for Cyber Advisory consulting, marking a strategic expansion of its service portfolio. The client is a U.S.-based multi-billion-dollar conglomerate with global operations across transportation, mining, construction, and shipbuilding industries.

The comprehensive cyber advisory engagement includes:

• Board-level advisory services
• Risk assessments
• Strategic planning and execution
• Compliance consulting
• M&A support
• Incident response management

The scope of work encompasses tailored cybersecurity expertise, development of board-level KPIs, creation of a risk register, and establishment of a communication program to align with industry best practices and regulatory requirements.

High Wire Networks (OTCQB: HWNI) has been selected to provide Overwatch managed security services for the Illinois College of Optometry (ICO), which handles over 85,000 patient visits annually. The contract, secured through channel partner Mindsight, will deploy Overwatch SOAR™, an AI-powered threat detection and response system that consolidates alerts from various platforms for enhanced visibility and faster remediation.

This win represents HWNI's continued expansion in the higher education market, bringing their total education clients to 21. The partnership aims to protect ICO's sensitive student records and network infrastructure amid increasing cyberattacks in the education sector, which experienced its worst ransomware year on record according to Malwarebytes.

High Wire Networks (OTCQB: HWNI) has launched a new strategic growth phase by expanding its sales and marketing team to boost monthly recurring revenue (MRR) from its Overwatch cyber portfolio. Following record revenue in Q3 2024, the company has appointed industry veterans to target larger channel partners with enterprise-class clients. The company's Overwatch division has evolved from startup mode to becoming a recognized leader by Frost & Sullivan as one of the best Managed Security Services Providers.

The company's proprietary hyperautomations are enabling revenue growth and gross profit expansion without proportional increases in personnel. Under the leadership of Chief Revenue Officer Mark Dallmeier and COO Edward Vasko, High Wire reports its largest pipeline of large deals in company history, with several in final closing stages. The company is positioning itself for a potential uplisting to a major exchange.