High Wire Networks Inc. Stock Price, News & Analysis

High Wire Networks Inc. (OTCQB: HWNI) reported impressive Q3 results, with $13.5M in revenue, representing a 26% year-over-year increase on a pro forma basis. This marks five consecutive quarters of growth, with quarterly increases ranging from 20% to 80%. Notably, Overwatch revenue surged 373% compared to the same period last year, and paying clients rose 27% quarter-over-quarter. Backlog in technology projects reached $19 million, nearly quadrupling since January 2022, underscoring strong demand in the managed security segment.

High Wire Networks (OTCQB: HWNI) announced a $1.8 million contract for a phone lifecycle refresh project, upgrading over 60,000 IP phone sets at 433 U.S. government sites. This marks their eleventh large-scale government project since 2021. David Hand, Vice President of Global Systems Integrators, expressed confidence in their ability to deliver high-quality results on time. High Wire has been a trusted partner for VARs and telecom providers, offering services in over 180 countries.

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.