High Wire Networks, Inc. (OTC: HWNI)

High Wire Networks, Inc. is a global provider of managed cybersecurity, managed networks and tech enabled professional services delivered exclusively through a channel sales model. The company’s flagship Overwatch platform offers end to end protection for networks, data, endpoints and users via multi year recurring contracts. It also operates a wholesale telecommunications unit, Secure Voice Corp, which provides SIP only network transport as an FCC registered interexchange carrier. These services are sold through a broad network of managed service providers, value added resellers, distributors and network service partners.

The company generates revenue primarily from recurring fees associated with its Overwatch managed security platform as a service, which is billed under multi year contracts averaging more than two years in length. Additional revenue comes from Secure Voice Corp’s wholesale SIP only network transport, charged per minute of voice traffic carried for partner carriers. Professional services, such as network design, implementation and consulting, are also offered but represent a smaller portion of total sales. All offerings are sold exclusively through indirect channel partners, enabling a lean internal sales and support organization.

The company operates through the following segments:.

• Managed Cybersecurity Solutions: This segment delivers the Overwatch platform as a service, providing continuous monitoring, threat detection and incident response for networks, data, endpoints and users. Services are delivered via a security operations center located in the United States and are sold through multi year agreements with managed service providers, value added resellers, distributors and network service partners who then serve end user customers.

• Secure Voice Corp: This segment offers wholesale SIP only network transport as an FCC registered interexchange carrier, moving millions of minutes of voice traffic each day for partner carriers. Revenue is generated based on usage, and the segment benefits from a highly resilient virtual switching infrastructure that ensures reliable service delivery.

High Wire Networks, Inc. occupies a specialized niche within the broader cybersecurity market, distinguished by its recognition as one of the top twelve managed and professional security providers in the Americas according to Frost and Sullivan rankings for 2023 and 2024. The company’s competitive edge derives from an open, vendor agnostic architecture that integrates numerous security tools, extensive automation that reduces reliance on large staff numbers, and a channel centric go to market model that leverages over 250 managed service partners. Its primary competitors include larger pure play firms such as Arctic Wolf, Cydera and SecureWorks, as well as many smaller niche vendors. Additional strengths consist of a seasoned management team, deep relationships with technology vendors, a scalable high margin service model and ongoing investments in generative artificial intelligence to enhance threat analysis and operational efficiency.

The company’s revenue is derived primarily from channel partners, including managed service providers, value added resellers, distributors and network service providers, who in turn serve end user customers across industries such as finance, healthcare, retail and government. In 2024, three customers accounted for approximately 8%, 5% and 4% of total revenue, indicating a modest concentration of relationships. The partner network consists of over 250 active managed service providers and more than 1,300 paying end clients, reflecting a broad but focused distribution base. No individual end customer names are disclosed in the filing.