Welcome to our dedicated page for Wrap Technologies news (Ticker: WRAP), a resource for investors and traders seeking the latest updates and insights on Wrap Technologies stock.
Company Overview
Wrap Technologies Inc is a specialized provider of advanced public safety solutions, designed explicitly for law enforcement and security agencies. Harnessing cutting-edge technology, Wrap Technologies addresses modern challenges in public safety by integrating smart devices with comprehensive training systems. Utilizing industry-specific innovations such as remote restraint technology, VR training platforms, and AI-powered evidence management, the company positions itself as a critical enabler of safer and more efficient policing.
Founded with a commitment to a no-harm principle, Wrap Technologies focuses on developing solutions that reinforce community trust while empowering law enforcement officers in high-stress situations. The company’s core objective is to provide tools that not only protect officers but also ensure minimal harm during confrontations. Through innovative products and services, Wrap serves a diverse client base across the Americas, Europe, the Middle East, Africa, and the Asia Pacific, addressing the varied needs of modern public safety operations.
Product Portfolio and Innovative Solutions
At the heart of Wrap Technologies' lineup is the patented BolaWrap remote restraint device. Engineered as a hand-held tool, this device discharges a Kevlar cord that safely restrains noncompliant individuals from a distance, typically ranging between 10 to 25 feet. This technology is built on the fundamental concept of de-escalation and early intervention, ensuring that potentially volatile situations are managed with minimal physical contact and reduced chances of injury. The BolaWrap product is supported by comprehensive training programs certified by recognized bodies, ensuring law enforcement agencies gain the necessary proficiency to deploy the tool effectively.
Complementing the BolaWrap is the Wrap Reality training system, a fully immersive virtual reality-based platform that equips first responders with realistic scenario-driven training. This VR system addresses various public safety challenges, offering simulations that cover de-escalation, crisis intervention, and tactical response operations. Through robust training solutions, Wrap Technologies helps agencies build critical skills, ensuring that strategies for conflict resolution and safe restraint are practiced consistently.
Another integral component is the Intrensic solution, which includes body worn cameras and comprehensive digital evidence management systems. This solution captures, securely stores, and systematically manages key footage and evidence, creating an environment of transparency and accountability within law enforcement operations. With the integration of AI auto-tagging capabilities, WrapAI automatically categorizes and analyzes video content, reducing manual efforts and streamlining compliance with evidence retention policies.
Technology Integration and Industry Expertise
Wrap Technologies stands out by merging proven hardware with state-of-the-art software solutions. The company’s emphasis on technological innovation has led to the integration of AI, machine learning, and virtual reality into their product suite. The use of AI auto-tagging in WrapAI represents a significant leap forward in managing vast amounts of video data efficiently. This system leverages machine-learning algorithms to identify and label key elements within video footage, ensuring accuracy and consistency in evidence management.
Moreover, the company’s solutions are designed with an acute awareness of the operational demands in modern law enforcement. By incorporating real-time data analysis, secure cloud-based storage, and robust evidence tracking, Wrap Technologies not only enhances the immediate functionality of its devices but also contributes to broader systemic improvements in public safety management.
Global Reach and Market Position
Operating on a global scale, Wrap Technologies has successfully deployed its technologies to law enforcement partners in over 60 countries. The company’s strategic partnerships and distribution agreements, such as those with key regional players in the Asia-Pacific market, underline its commitment to extending its reach while upholding rigorous standards of training and operational integrity. This wide geographic reach, combined with a deep understanding of regional public safety challenges, positions Wrap as a pivotal player in the international market.
Furthermore, the company’s ability to adapt its product offerings to meet localized needs has solidified its reputation for reliability and effectiveness. Whether through the deployment of remote restraint solutions or the integration of immersive VR training modules, Wrap Technologies remains responsive to the evolving demands of law enforcement agencies worldwide.
Commitment to Safety, Training, and Operational Excellence
Wrap Technologies is deeply committed to ensuring that its innovations translate into practical, life-saving applications in the field. The extensive training programs associated with the company’s products, particularly the BolaWrap and Wrap Reality systems, are designed not only to enhance officer safety but also to promote community-focused policing. Certified by reputable law enforcement training organizations, these programs have been adopted by hundreds of agencies globally, underscoring the company's capability to deliver complex operational training in an accessible, immersive format.
Through rigorous scenario-based training, officers learn to de-escalate potentially dangerous encounters and apply tactical restraint techniques effectively. Such training is essential, especially given contemporary demands on law enforcement to manage public engagements with heightened sensitivity and accountability. By providing real-life scenario training in a controlled virtual environment, Wrap Technologies supports law enforcement agencies in refining skills that are critical for ensuring both officer and public safety.
Comprehensive Solutions for Modern Public Safety Challenges
The multi-dimensional approach of Wrap Technologies is evident in its holistic product suite. The company not only delivers hardware solutions such as the BolaWrap remote restraint device and body worn cameras but also augments these products with leading-edge software applications. The combination of physical tools with digital enhancements such as WrapAI demonstrates a comprehensive approach to public safety challenges. This strategy is designed to streamline operations and provide law enforcement with the technology necessary for effective, real-time decision-making in critical situations.
The company continuously refines its products based on extensive field data and direct feedback from law enforcement professionals. This commitment to iterative improvement ensures that each solution is rigorously tested and optimized for real-world performance, balancing innovation with practical reliability. The holistic integration of products and training modules reinforces Wrap Technologies' commitment to delivering solutions that not only disrupt conventional policing practices but also elevate the standard of safety and operational efficiency across the public safety landscape.
Industry Collaborations and Strategic Partnerships
Wrap Technologies has cultivated strong relationships with government bodies, law enforcement agencies, and regional distributors to ensure that its solutions are well-positioned in the market. By collaborating with expert agencies and aligning with established training certifiers, Wrap reinforces the credibility and efficacy of its product offerings. These partnerships are instrumental in validating the company’s technology from both an operational and regulatory perspective.
- Collaborative Training Programs: Wrap partners with esteemed organizations to certify its training programs, ensuring that users achieve effective mastery of de-escalation techniques and device operation.
- Global Distribution Networks: Through alliances in different regions, the company extends its reach and adapts its offerings to diverse market requirements.
- Innovative Research and Feedback Loops: Wrap continually engages with law enforcement professionals to incorporate real-world operational feedback into its technological advancements.
Demonstrated Expertise and Commitment to Excellence
Wrap Technologies Inc. is not merely a product provider—it is a technology partner dedicated to enhancing public safety outcomes. The company’s expertise is evident in how it layers innovative design with exhaustive training and rigorous certification processes. By ensuring that every solution is backed by detailed operational protocols, Wrap demonstrates its deep understanding of the complexities inherent in modern law enforcement practices.
This commitment is further enhanced by its strategic focus on user-friendly design and real-world applicability. The effective synthesis of hardware and software in tools like BolaWrap and Wrap Reality is a testament to the company’s ability to deliver integrated, practical solutions that meet the stringent demands of public safety environments.
Operational Excellence and Evidence-Based Practices
Emphasizing data-driven insights, Wrap Technologies incorporates comprehensive evidence management systems into its portfolio. The Intrensic solution, with its secure and efficient management of digital evidence, reinforces a culture of transparency and accountability throughout the justice system. By facilitating the rapid capture, storage, and retrieval of evidence, the company empowers law enforcement agencies to construct stronger, evidence-based cases while maintaining integrity throughout the process.
Furthermore, the integration of AI-enabled features within the WrapAI suite places Wrap at the forefront of technological innovation in public safety. The auto-tagging functionality exemplifies how advanced analytics can minimize human error and accelerate the investigative process, ensuring that law enforcement can focus on critical decision-making rather than administrative burdens.
Conclusion
In summary, Wrap Technologies Inc has established itself as a comprehensive provider of public safety solutions that blend advanced technological innovation with practical, field-tested applications. By offering an integrated suite of products—from the BolaWrap remote restraint device to immersive VR training systems and secure evidence management tools—the company addresses the multifaceted challenges faced by modern law enforcement. Its commitment to certification, extensive global partnerships, and continuous improvement through user feedback all contribute to an operational model that prioritizes safety, efficiency, and accountability. With an unwavering focus on empowering the professionals who protect our communities, Wrap Technologies continues to redefine public safety standards through practical innovations and rigorous training, ensuring that law enforcement agencies are equipped with the best tools to manage critical situations with precision and care.
Wrap Technologies (NASDAQ: WRAP) has appointed Robert Heuchling as Managing Director, bringing over 15 years of FBI experience to enhance the company's managed services offering. Heuchling, who previously supervised foreign corruption and money laundering investigations in New York City, will work alongside former FBI colleague and current Chief Executive Officer of Managed Services, Bill McMurry.
Together, they led the landmark 1MDB investigation, which recovered over $4.5 billion in stolen assets - the largest recovery in U.S. Department of Justice history. The company plans to leverage their expertise to develop technology solutions for complex financial crimes, cyber threats, and transnational law enforcement challenges.
Heuchling's background includes service as an engineer and communications officer in the U.S. Navy. His accolades include the Assistant Attorney General's Exceptional Service Award, FBI Medal of Excellence, and Naval Commendation Medal.
Wrap Technologies (NASDAQ: WRAP) has appointed Stephen M. Renna as Strategic Advisor to spearhead international growth and financing strategy. Renna, former Chief Banking Officer at U.S. Export-Import Bank (EXIM), brings over 35 years of executive experience and will focus on expanding Made-in-USA exports through government resources.
At EXIM, Renna managed a $50 billion portfolio and $40 billion pipeline. His previous role as Head of The Advocacy Center at U.S. Department of Commerce resulted in wins on over 200 projects valued at $147 billion. At Wrap, he will leverage programs like EXIM Bank and Department of Defense Office of Strategic Capital to expand the company's international reach for BolaWrap and Managed Safety and Response (MSR) services.
The appointment aligns with the China and Transformational Exports Program (CTEP), aiming to counter Chinese influence in emerging markets through competitive financing in strategic sectors including public safety, AI, and communications.
Wrap Technologies (NASDAQ: WRAP) has scheduled its fourth quarter and full year 2024 financial results conference call for Monday, March 31, 2025, at 4:30 p.m. Eastern Time. The company's management will host the presentation followed by a Q&A session.
Shareholders and interested parties can submit questions to ir@wrap.com by March 28, 2025, at 5:00 p.m. Eastern Time. Questions will be selected based on relevance to company strategy, execution, stockholder base, and public disclosure requirements.
The earnings press release and related materials will be available in the Investors section of Wrap's website.
Wrap Technologies (NASDAQ: WRAP) has appointed Joseph R. Bonavolonta as Domestic Head of Managed Services, bringing 27 years of FBI experience to the company. Bonavolonta, former Special Agent in Charge of the FBI's Boston Field Office, will assist in driving growth and expanding Wrap's global law enforcement network.
His extensive background includes overseeing high-profile criminal and national security investigations, managing Joint Terrorism Task Forces, and directing the New England Region's Domestic Director of National Intelligence Program. Prior to joining Wrap, he served as Managing Partner at a global security firm.
This strategic appointment follows Wrap's recent W1 Global, acquisition and complements the expertise of James DeStefano, a retired FBI executive. The combined experience is expected to enhance Wrap's delivery of technology security solutions to law enforcement agencies, commercial clients, and high-net-worth individuals globally.
Wrap Technologies (NASDAQ: WRAP) has appointed Jared Novick as President and Chief Operating Officer, marking a strategic shift in the company's direction. The announcement comes following Wrap's relocation of its manufacturing headquarters to Virginia and plans to establish offices near Washington, D.C., positioning the company to pursue U.S. Federal government contracts.
Novick, who recently made a significant investment of 275,000 shares and warrants through an affiliated partnership, aims to lead Wrap's expansion into efficiency-driven public safety offerings. The company plans to focus on technology consolidation in public safety, leveraging its recent W1 Global acquisition to help federal agencies optimize strategies and reduce costs.
With Novick's extensive background in U.S. Intelligence Agencies and defense contracting, Wrap is positioning itself to expand internationally through Beltway networks and plans to work with U.S. government organizations facilitating global exports. The company's strategy includes aligning its offerings with government contracting requirements and pursuing prime and sub-contracts.
Wrap Technologies (NASDAQ: WRAP) has secured a $5.8 million private placement through the sale of securities to affiliated investment partnerships and institutional investors. The deal includes 3,216,666 shares of common stock at $1.80 per share and accompanying warrants to purchase an equal number of shares, exercisable at $1.80 per share with a five-year expiration.
The private placement, expected to close around February 28, 2025, will primarily fund working capital and general corporate purposes. The proceeds will support the company's go-to-market strategy for BolaWrap and Managed Safety and Response (MSR) Connected Ecosystem, strengthen its Made-in-America initiatives, establish a Washington, DC presence, and enhance training and customer support programs.
The majority investment comes from insiders and existing investors, with the securities being offered under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, exempt from registration requirements.
Wrap Technologies (NASDAQ: WRAP) has completed the acquisition of W1 Global, a professional services firm led by former law enforcement and U.S. Intelligence Community professionals. The acquisition aims to expand Wrap's Managed Safety and Response (MSR) Connected Ecosystem and enhance its professional services offerings.
The merged leadership team includes notable figures: Bill McMurry, a retired FBI Supervisory Special Agent, will lead Professional Services; Jim DeStefano, former Assistant Special Agent, will head Managed Safety and Response; and Ric Bachour, a former DEA leader, will support Investigative services.
The acquisition is expected to drive immediate revenue growth, be accretive, and create synergies with Wrap's existing business, including the BolaWrap program. The merger creates an end-to-end ecosystem combining W1's investigative expertise with Wrap's technology solutions, positioning the company for international expansion through W1's global network.
Wrap Technologies (NASDAQ: WRAP) has launched its Managed Safety and Response (MSR) Connected Ecosystem in Virginia, introducing an integrated approach to law enforcement training and safety solutions. The initiative, supported by Governor Glenn Youngkin, positions Virginia as an early adopter of next-generation policing solutions.
The MSR Connected Ecosystem features several key components:
- TAA-compliant, non-Chinese body cameras
- AI-powered reporting system for incident documentation
- Drone as First Responder (DFR) program
- Advanced defensive tactics training
- Connected training with in-person instruction
- Comprehensive VR training expansion
The system aims to consolidate fragmented technologies into a cohesive solution, addressing agencies' challenges in adopting new technologies and ensuring proper training integration. The initiative follows Wrap's facility relocation to Southwest Virginia, demonstrating the company's commitment to enhancing public safety through innovative technology solutions.
Wrap Technologies (NASDAQ: WRAP) announced the relocation of its manufacturing and distribution to a new 20,000-square-foot facility in Virginia. The $4.1 million project, supported by Governor Youngkin and VEDP, will create over 120 new jobs and centralize production of BolaWrap® and Wrap Reality™. The facility will include R&D zones for AR/VR and integrated public safety devices, alongside a professional services division focused on training and customer support. With over 40 partner agencies in Virginia, Wrap aims to expand its 'Made-in-America' partnerships and advance end-to-end public safety solutions.
Wrap Technologies has issued a notice to disregard their previously released news about their go-forward strategy and new Virginia facility. The original press release titled 'Wrap Technologies Unveils Go-Forward Strategy, Pioneering End-to-End Public Safety and Defense Solutions with New Virginia Facility' from November 22, 2024, should be disregarded by journalists and readers.
FAQ
What is the current stock price of Wrap Technologies (WRAP)?
What is the market cap of Wrap Technologies (WRAP)?
What does Wrap Technologies Inc specialize in?
How does the BolaWrap device work?
What is Wrap Reality and how is it used?
How does Wrap Technologies integrate AI into its solutions?
What kind of training support does Wrap Technologies provide?
In which global regions does Wrap Technologies operate?
How does Wrap ensure the reliability of its evidence management systems?
What distinguishes Wrap Technologies from its competitors?
