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) generates an active stream of news centered on its managed cybersecurity operations, Overwatch platform, and related strategic developments. Company announcements highlight Overwatch’s AI-driven, multi-vector defense capabilities, its 24/7 U.S.-based Security Operations Center in Chicago, and a channel-focused delivery model that supports more than 200 partners and over 1,100 managed security customers, including Fortune 500 enterprises and major government agencies.
Recent news has covered topics such as the launch of Risk-as-a-Service, which provides ongoing risk assessments, threat detection, compliance monitoring, and incident response planning, and the introduction of streamlined Overwatch bundles—Essential, Core, Proactive, and Complete—designed to align cybersecurity services with organizational maturity. Other releases describe alliances with technology partners like Fluency Security, which supports AI-powered SIEM and XDR capabilities within Overwatch, and channel partnerships with firms such as Threshold Communications.
Investors and observers following HWNI news will also find updates on financial performance, including quarterly earnings from continuing operations, commentary on gross profit trends, and explanations of the company’s use of non-GAAP measures such as Adjusted EBITDA. Strategic and corporate actions, such as the one-for-250 reverse stock split and the sale of substantially all operating assets of the Managed Security Services and Voice Network divisions to subsidiaries of Tego Cyber Inc., are detailed in press releases and SEC-referenced communications.
This news page allows readers to review High Wire’s evolving cybersecurity offerings, partner ecosystem activity, and key corporate milestones in one place, using the company’s own announcements as a primary source of information on HWNI’s business direction and structural changes.
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.
High Wire Networks (OTCQB: HWNI) has secured an expanded annual contract renewal for its Overwatch Managed Extended Detection and Response (MXDR) services. The contract, awarded through a premier MSP partner, covers more than a dozen luxury car dealerships across the West Coast and Midwest U.S. This renewal is expected to increase annual revenue fivefold compared to the previous year, with additional devices added to the service scope.
Overwatch MXDR provides 24/7 monitoring and threat detection, leveraging U.S.-based security analysts and an AI-powered playbook for swift threat response. The expanded contract highlights the trust High Wire has built with its MSP partners and their high-value customers in delivering top-tier cybersecurity services.
High Wire Networks (OTCQB: HWNI) has appointed Edward Vasko as CEO and Mark Dallmeier as CRO of its Overwatch managed cybersecurity services division. Vasko brings over 30 years of cybersecurity experience, while Dallmeier has 27 years of expertise in driving technology company growth. The company also named Michael Lieder as senior director of Overwatch Service Delivery and Products.
These appointments aim to accelerate Overwatch's growth, expand its market share, and enhance its partner community. Overwatch currently has over $10.4 million in total contract value for its services and is positioned to address the growing demand for AI-powered cybersecurity solutions. High Wire offers its Overwatch services through a global network of over 200 MSPs and MSSPs, targeting a cybersecurity market expected to reach $563 billion by 2032.
High Wire Networks (OTCQB: HWNI) reported Q2 2024 results with revenue up 14% to $1.9 million and net income of $4.8 million. Key highlights include:
- Sale of technology enablement services business for $11.2 million, used to reduce debt by $5 million
- Overwatch managed cybersecurity revenue increased 24% to $1.05 million
- Gross margin expanded to 40.8% from 25.4% year-over-year
- Total contract value for Overwatch reached $10.4 million, up from $6.0 million last year
- Integrated new SIEM system into Overwatch MXDR services
- Appointed Edward Vasko as strategic advisor for Overwatch growth
The company is focusing on scaling its higher-margin Overwatch cybersecurity business, aiming to double total contract value in the near term. Management expects continued margin improvement and operational profitability for Overwatch by Q4 2024.
High Wire Networks (HWNI) has sold its technology enablement services to ServicePoint in an $11.2 million all-cash deal. The company is also planning to sell its Secure Voice (SVC) subsidiary by Q3 2024. These moves aim to streamline High Wire into a pure-play, AI-powered managed cybersecurity provider, focusing on its Overwatch division. The sale proceeds will reduce overall debt by $5 million and improve net shareholders' equity to over $6 million. Overwatch's total contract value (TCV) for Q1 2024 reached $10.4 million, a 104% increase year-over-year, while recurring revenue has increased by 25% annually. High Wire expects to achieve breakeven in the second half of 2024 and aims to double its TCV in the near term. The company has also signed new large-scale partners, enhancing its market position.
High Wire Networks (OTCQB: HWNI) has appointed Edward Vasko, CISSP, as a strategic advisor to boost its Overwatch managed cybersecurity services. Vasko, who has over 30 years of experience in the cybersecurity field, will leverage his extensive knowledge in business formation, growth strategies, and M&A. His current role as director at Boise State University's Institute of Pervasive Cybersecurity and his experience with Terra Verde (now Avertium) highlight his leadership capabilities. Vasko aims to strengthen High Wire’s channel partner network and enhance delivery of its services. High Wire's Overwatch technology is recognized for its AI capabilities, and the company was recently awarded a significant contract with a U.S. health system. Frost & Sullivan ranks High Wire among the Top 12 Managed Security Service Providers in the Americas.
High Wire Networks (HWNI) has secured a key contract to deliver its Overwatch OT/IoT Security™ solution to a major U.S. health system with over 25 hospitals and clinics. This project will extend the management of IoT devices to 2,750, enhancing security through an agentless, zero-trust approach. The Overwatch SOAR™ technology integrates AI to consolidate alerts and improve threat response, providing 24/7 monitoring. This contract highlights the growing need for advanced cybersecurity in healthcare, a sector where data breaches average $10.93 million per incident. High Wire ranks as a top Managed Security Service Provider and anticipates more such opportunities as demand for cybersecurity grows, projected to reach $425 billion by 2030.
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