High Wire reports revenue increase

BATAVIA - High Wire Networks Inc., a global provider of managed cybersecurity and technology systems, reported fourth quarter financial results from continuing operations, including a 34% increase in revenue.

On March 8, High Wire announced the sale of its legacy staffing business. The fourth quarter financial results exclude this divested business and provides only the results from the company's continuing managed cybersecurity and technology enablement business.

Fourth quarter revenue was up 34% to a record $8.3 million, with full year up 26% to a record $26.8 million, the company said.

For the full year, net loss totaled $11.3 million, improving 51% from fiscal year 2021.

High Wire's channel partner network, which includes industry-leading organizations that cater to Fortune 500 company's, expanded by 22% to more than 624 partners by the end of 2022, High Wire said.

Also in the quarter, High Wire was awarded a $1.8 million government phone deployment contract through a reseller and channel partner for a telecommunications system refresh project. The upgrade is expected to deliver more than 60,000 new IP telephones to 433 U.S. government sites, the company said.