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.
Wrap Technologies, Inc. (Nasdaq: WRAP) is at the forefront of developing non-lethal public safety technologies. Headquartered in Tempe, Arizona, the company is renowned for creating innovative solutions tailored for law enforcement and security personnel across the globe. One of its flagship products, the BolaWRAP® 150 Remote Restraint Device, is a patented handheld tool that deploys a Kevlar® cord to safely restrain individuals from a distance of 10-25 feet. This device addresses the critical need for non-violent de-escalation in tense situations, making it an essential tool for over 900 agencies in the US and 60 countries worldwide.
Wrap Technologies is committed to creating safer communities through its diverse product lineup. The Wrap Reality™ virtual reality training system offers a fully immersive experience, providing first responders with realistic scenarios to hone their skills and improve decision-making in the field. This innovative platform significantly enhances public safety training by addressing the dynamic nature of modern law enforcement situations.
Adding to its portfolio, Wrap's Intrensic solution is a comprehensive body-worn camera and evidence management system. This platform ensures the accurate capture, secure handling, and reliable storage of evidence, fostering greater trust and transparency in law enforcement procedures. With features like AI Auto-Tagging, which leverages advanced machine learning to streamline video analysis, the Intrensic system supports compliance and reduces operational costs.
Wrap Technologies has established strategic partnerships to expand its reach and impact. Notably, its collaboration with Kokusai Security in the Asia-Pacific region aims to promote the adoption of Wrap's products, bolstering public safety and operational effectiveness across new markets.
Recent achievements of the company include the continued refinement and deployment of its BolaWRAP® device, advancements in virtual reality training through Wrap Reality™, and ongoing enhancements to the Intrensic platform. With a steadfast focus on innovation, Wrap Technologies remains dedicated to equipping law enforcement and security personnel with the tools they need to perform their duties safely and effectively.
For further details, visit wrap.com or contact their Investor Relations at 800.583.2652 or via email at ir@wrap.com.
TEMPE, Ariz., Dec. 06, 2021 - Wrap Technologies, a leader in public safety technologies, announced its President and CEO, Tom Smith, will present at the Benzinga Global Small Cap Conference. The virtual event is scheduled for December 8-9, 2021, with Smith's presentation on December 9 at 11:55 am ET. WRAP management will also conduct one-on-one meetings until December 15. The conference focuses on small cap executives and features educational sessions on various industries. For more information, visit benzinga.com.
Wrap Technologies, Inc. (Nasdaq: WRAP) will present at the virtual Inflection Partners Fall Investment Conference on November 17, 2021, at 2:15 pm ET. CEO Tom Smith and VP of Investor Relations Paul Manley will represent the company. The conference, taking place on November 16-17, features over 25 companies and supports the Travis Manion Foundation, which aids veterans and their families. Attendees can register online and schedule one-on-one meetings with WRAP management. The company specializes in public safety technologies, including the BolaWrap Remote Restraint device and Wrap Reality training system.
Wrap Technologies (Nasdaq: WRAP) announced that the Royal Canadian Mounted Police (RCMP) has exempted the BolaWrap 150 remote restraint device from being classified as a prohibited device or firearm. This classification comes less than a month after the product's launch and follows the earlier exemption of the BolaWrap 100. Canadian law enforcement, including the Sainte-Anne Police, has begun using the BolaWrap for officers. The company aims to meet training requests from law enforcement across Canada.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the Sainte-Anne Police Department in Manitoba has become the first Canadian agency to utilize the BolaWrap remote restraint device. Following a successful training program, this deployment signifies a key milestone in WRAP's efforts to enhance public safety technologies. The event featured a demonstration attended by various police services, showcasing the BolaWrap's efficacy in safely restraining individuals without resorting to greater force. WRAP’s CEO emphasized the significance of this achievement amidst global operational challenges.
Wrap Technologies (Nasdaq: WRAP) has released new bodycam footage highlighting the successful deployment of its BolaWrap device by the Indianapolis Metro Police Department (IMPD). On October 24, 2021, officers utilized the BolaWrap to safely restrain a noncompliant individual without physical confrontation, marking its second use by the IMPD. President and CEO Tom Smith praised the officers for their effective communication and proactive approach to prevent escalation. The BolaWrap aims to enhance public safety through innovative restraint technologies.
Wrap Technologies, Inc. (Nasdaq: WRAP), a leader in public safety technologies, will present at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 3 PM ET. CEO Tom Smith and VP of Investor Relations Paul Manley will lead the presentation. This event will showcase around 50 technology companies, discussing topics like public safety, cybersecurity, and AI. Wrap is known for its innovative products, including the BolaWrap® Remote Restraint device, aimed at helping law enforcement safely detain individuals. One-on-one meetings with Wrap management will also be available.
Wrap Technologies, Inc. (WRAP) announced an international order for 500 BolaWrap devices and 50,000 cartridges from a distributor servicing a national police agency. The revenue from this order is expected to be recognized in Q4 2021 and Q1 2022. The BolaWrap device, designed for public safety, has been shipped to 50 countries. CEO Tom Smith emphasized the agency's commitment to de-escalation and training, noting the expanding international market.
Wrap Technologies reported third-quarter 2021 net revenues of $1.8 million, reflecting a 79% increase year-over-year. The company launched the BolaWrap 150, its upgraded restraint product, and partnered with Amazon Web Services for its VR training platform. The number of trained agencies rose 109% to 940, with certified instructors increasing 139% to 3,250. Despite a net loss of $5.99 million, the cash reserves remained strong at $39.9 million. The company anticipates challenges due to ongoing pandemic impacts but remains optimistic about future growth.
Wrap Technologies has announced the donation of its Wrap Reality de-escalation training platform to the Frankfort Police Department in Indiana. This marks a pivotal moment as Frankfort PD becomes the first agency in Indiana to utilize this innovative virtual reality simulator. The platform aims to enhance officer training effectively, preparing them for real-life encounters through immersive scenarios. Additionally, WRAP is collaborating with Amazon Web Services to leverage cloud services, further improving training delivery for law enforcement.
Wrap Technologies (Nasdaq: WRAP) will host a Zoom video webcast on October 28, 2021, at 4:30 p.m. Eastern to discuss its third-quarter financial results for the period ending September 30, 2021. The webcast will feature CEO Tom Smith, CFO Jim Barnes, and VP of Investor Relations Paul Manley. A question-and-answer session will follow the presentation. Interested participants can register via the registration link.
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. do?
Where is Wrap Technologies headquartered?
What is BolaWRAP® 150?
What is Wrap Reality™?
What is the Intrensic solution?
How many agencies use Wrap Technologies' products?
Who is Wrap Technologies' partner in the Asia-Pacific region?
What is AI Auto-Tagging in the Intrensic system?
How can I contact Wrap Technologies for investor relations?
Where can I find more information about Wrap Technologies?
