High Wire Networks, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:30 pm EDT
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High Wire Networks, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 5.94 million compared to USD 6.84 million a year ago. Net loss was USD 3.96 million compared to net income of USD 5.37 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.09 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago. Basic loss per share was USD 0.02 compared to basic earnings per share of USD 0.1 a year ago. Diluted loss per share was USD 0.02 compared to diluted earnings per share of USD 0.07 a year ago.
For the six months, sales was USD 16.11 million compared to USD 12.16 million a year ago. Net loss was USD 5.48 million compared to net income of USD 10.32 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.13 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.1 a year ago. Basic loss per share was USD 0.03 compared to basic earnings per share of USD 0.2 a year ago. Diluted loss per share was USD 0.03 compared to diluted earnings per share of USD 0.15 a year ago.
High Wire Networks, Inc. is a provider of managed cybersecurity, managed networks, and tech enabled professional services delivered through a channel sales model. The Company's offerings include Managed Services and Technology Solutions. The Managed Services segment includes Overwatch Managed Security business, which offers organizations an end-to-end protection for networks, data, endpoints, and users via multiyear recurring revenue contracts. Overwatch delivers services through Managed Service Providers (MSPs), strategic partnerships and alliances, and Value-Added Resellers (VARs). The Technology Solutions segment provide technology enabled professional and managed services for a range of clients. This segment provides planning, installation, project management, and ongoing support for break/fix services. It delivers a range of services across a range of technologies that include Wi-Fi, networking, SD-WAN, distributed antenna systems, wireless carrier networking, and others.