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 leading global provider of managed cybersecurity solutions and IT enablement services trusted by enterprise clients worldwide. This dedicated news hub serves as the definitive source for official corporate announcements, financial disclosures, and strategic developments.
Investors and industry professionals will find timely updates including quarterly earnings reports, cybersecurity product launches, strategic partnerships, and leadership updates. The curated collection features press releases directly from High Wire Networks alongside verified third-party analysis of their Overwatch MXDR platform and channel partner ecosystem.
Key content categories include updates on the company's AI-powered security orchestration, expansion of managed detection services, and operational milestones within their global network of 200+ channel partners. All materials maintain compliance with financial disclosure regulations while emphasizing the company's focus on recurring revenue models and enterprise cybersecurity solutions.
Bookmark this page for streamlined access to High Wire Networks' latest developments in cybersecurity innovation, financial performance, and market positioning. Check regularly for updates that impact investment research and industry trend analysis in the managed security services space.
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.
High Wire Networks (OTCQB: HWNI) reported record Q3 2024 results with revenue increasing 4% to $2.1 million, driven by growth in its Overwatch managed cybersecurity business. Q3 Overwatch revenue grew 9% to $1.0 million. Operating expenses decreased 21% to $3.6 million, while net loss improved 56% to $1.7 million. The company completed strategic realignment, divesting its IT enablement services to focus on cybersecurity. Total liabilities decreased by $5.9 million to $7.6 million, and interest expense dropped 96% to $50,000. Management expects accelerating growth and significant profitability by second half of 2025.
High Wire Networks (OTCQB: HWNI) has been named to MSSP Alert's 2024 List of Top 250 MSSPs, marking its fourth consecutive year on this prestigious list. The company's inclusion in the Top 100 highlights its excellence in providing comprehensive cybersecurity solutions through its Overwatch managed security services ecosystem.
At the core of High Wire's security operations is Overwatch SOAR™, a proprietary AI-embedded technology that enhances threat detection and response. High Wire offers its services through a global network of over 200 MSPs and MSSPs. The company was also recognized in CRN's MSP 500 and Elite 150 lists for 2023 and 2024, and ranked in the Top 15 by Frost & Sullivan in their 2024 Managed Security Services report.
High Wire Networks (OTCQB: HWNI) has been recognized as a top cybersecurity leader in Frost & Sullivan's 2024 Managed Security Services Report. The company ranked among the Top 15 Managed Security Service Providers in growth and innovation categories, out of over 200 competitors.
Key highlights:
- High Wire's growth is attributed to its channel-only strategy, bringing in entire MSP customer bases
- The company's Overwatch Managed Security Services Ecosystem offers comprehensive protection
- High Wire's proprietary Overwatch SOAR™ technology enhances threat detection and response
- The company is developing more automation capabilities and enhancing real-time threat intelligence
- High Wire's services are offered through a global network of over 200 MSPs and MSSPs
This recognition reflects High Wire's commitment to innovation and growth in the rapidly expanding global cybersecurity market.
High Wire Networks (OTCQB: HWNI) has appointed Edward Vasko as Chief Operations Officer (COO), succeeding Stephen LaMarche who remains on the board. Vasko, with over 33 years of cybersecurity experience, will also continue as CEO of the company's Overwatch managed cybersecurity services division. CEO Mark Porter expects Vasko's appointment to accelerate overall growth and development.
Vasko brings extensive experience in business formation, development, and driving rapid growth, including leading strategic M&As and exits. He previously served as director of Boise State University's Institute of Pervasive Cybersecurity and has founded several cybersecurity organizations. The company anticipates Vasko's expertise will enhance its cybersecurity ecosystem, which includes U.S.-based security analysts, an AI-powered platform, and customer-focused processes.
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