High Wire Networks Inc - HWNI stock
OTC Symbol: HWNI | OTC Tier: OTCQB
Description[edit]
High Wire Networks, Inc. offers cybersecurity and networking installation and management services, operating with two main segments - Security, which provides comprehensive security solutions to organizations through multiyear recurring revenue contracts, and Technology Solutions, offering technology-enabled professional and managed services through strategic partnerships. The company was established in 2000 and is based in Batavia, IL.[1]
Origin[edit]
The origin of High Wire Networks can be traced back to Mark Porter's vision of creating a company that would offer innovative technology solutions and reliable support services to clients across various industries. Porter recognized the growing need for secure and efficient technology infrastructure as businesses increasingly relied on digital systems to operate. With a background in technology and a passion for entrepreneurship, Mark Porter assembled a team of experienced professionals to build High Wire Networks. The company quickly gained recognition for its expertise in cybersecurity and managed services, catering to both small businesses and larger enterprises with complex IT needs.[2]
Projects[edit]
Wi-Fi Upgrade for Fortune 200 Company[edit]
In August, 2023, High Wire Networks successfully obtained a $1 million mobile Wi-Fi upgrade project for a nationwide department store chain through one of its top channel partners. The project entails installing 6,000 new or upgraded Wi-Fi access points in over 100 store locations. By adopting the latest and most secure Wi-Fi technology, the department store chain aims to execute its digital transformation strategy, aiming to improve the overall in-store shopping experience and gain a competitive edge. The scheduled completion for this project is set for October. Following its successful implementation, High Wire Networks expects that the retailer will consider initiating a subsequent phase, extending the upgrade to additional store locations.[3]
Financial Performance[edit]
Financial performance for High Wire Networks:[4]
| Year Ending | Revenue | Net Income | Earnings per Share | Cash Balance | Total Liabilities |
|---|---|---|---|---|---|
| 12/31/2022 | $55,049,000 | ($19,035,000) | ($0.28) | $886,000 | $26,846,000 |
| 12/31/2021 | $27,206,000 | ($13,339,000) | ($1.00) | $508,000 | $36,759,000 |
| 12/31/2020 | $9,909,000 | ($693,000) | 0 | $184,000 | $6,557,000 |
| 12/31/2019 | $25,496,000 | ($5,834,000) | ($52.97) | $375,000 | $16,116,000 |
- ↑ MarketWatch. HWNI Stock Profile. Retrieved on 7/20/2023.
- ↑ Highwirenetworks.com. About. Retrieved on 7/20/2023.
- ↑ Seeking Alpha. High Wire Networks Awarded $1 Million IT Project as First Phase of Wi-Fi Upgrade for Fortune 200 Department Store Chain. August 1, 2023.
- ↑ OTC Markets Group. HWNI Stock Financials. Retrieved on 7/20/2023.
