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About Wrap Technologies Inc.
Wrap Technologies Inc. (NASDAQ: WRAP) is a leading innovator in public safety solutions, specializing in advanced tools and technologies designed to enhance law enforcement and security operations globally. Headquartered in Tempe, Arizona, Wrap Technologies focuses on providing non-lethal, de-escalation tools and training systems to address the evolving challenges faced by public safety agencies. By integrating cutting-edge hardware, immersive training platforms, and AI-driven evidence management systems, the company empowers law enforcement professionals to perform their duties safely and effectively while fostering trust within the communities they serve.
Core Offerings
Wrap Technologies' flagship product, the BolaWrap®, is a patented, hand-held remote restraint device that deploys a Kevlar® tether to safely immobilize non-compliant individuals from a distance of 10-25 feet. This innovative tool is specifically engineered to minimize escalation and reduce the risk of injury during confrontations, making it an essential resource for modern policing. The BolaWrap® aligns with the company's guiding principle of 'no-harm,' providing officers with an early intervention option to prevent the need for more forceful measures.
Complementing its hardware solutions, Wrap Technologies offers Wrap Reality™, an advanced virtual reality training system that immerses law enforcement personnel in realistic scenarios to practice de-escalation, conflict resolution, and tactical decision-making. This platform addresses the dynamic nature of public safety situations, equipping first responders with the skills and discipline necessary to achieve safer outcomes. The training programs are certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), further underscoring their credibility and effectiveness.
Additionally, Wrap's Intrensic solution provides a comprehensive body-worn camera and evidence management system. Designed to streamline the capture, storage, and analysis of digital evidence, Intrensic enhances transparency and accountability within law enforcement operations. Features like AI-powered auto-tagging further optimize evidence management, ensuring compliance with retention policies and reducing administrative burdens.
Market Position and Industry Relevance
Operating across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific, Wrap Technologies serves over 1,000 law enforcement agencies in more than 60 countries. Its solutions address critical issues in modern policing, including the need for non-lethal alternatives, advanced training methodologies, and efficient evidence management systems. The company's focus on de-escalation and transparency aligns with global trends demanding accountability and reform in law enforcement practices.
Wrap Technologies differentiates itself through its holistic approach, combining innovative hardware, immersive training, and AI-driven software into an integrated ecosystem. This strategy not only enhances operational effectiveness but also fosters stronger relationships between law enforcement agencies and the communities they serve.
Competitive Landscape
In the competitive public safety technology market, Wrap Technologies faces rivals offering body cameras, training systems, and non-lethal tools. However, its unique emphasis on de-escalation and early intervention, coupled with its comprehensive product ecosystem, positions it as a distinct player. By addressing multiple facets of law enforcement—from field operations to training and evidence management—Wrap provides a cohesive solution that meets the complex demands of modern policing.
Challenges and Opportunities
Wrap Technologies operates in a challenging environment characterized by lengthy sales cycles, regulatory compliance requirements, and the need for widespread adoption among law enforcement agencies. However, the rising demand for non-lethal tools and advanced training solutions presents significant growth opportunities. The company's commitment to innovation, as evidenced by its continuous product development and strategic partnerships, positions it well to capitalize on these trends.
Conclusion
Wrap Technologies Inc. is at the forefront of transforming public safety through its innovative solutions. By equipping law enforcement agencies with tools like the BolaWrap®, immersive VR training platforms, and AI-driven evidence management systems, the company is setting new standards in community policing. Its dedication to fostering safer interactions and building trust underscores its mission to create safer communities worldwide.
Wrap Technologies, Inc. (Nasdaq: WRAP) has partnered with the Emergency Response Training & Certification Association (ERTCA) and Mansfield University Public Safety Training Institute to launch a Mobile Virtual Reality Experience (MVRE) for law enforcement training in Pennsylvania and New York. Starting in March 2022, the program will provide 36 credentialed VR training modules for free, with a focus on enhancing skills like de-escalation and conflict resolution. This initiative aims to empower first responders and improve community safety through innovative training methods.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced the first international shipment of its BolaWrap 150® remote restraint device on December 27, 2021. This shipment follows successful live demonstrations held in October 2021, highlighting the device's innovative features for public safety. Jags Gill, VP of International Sales, emphasized the growing demand for the technology despite international travel challenges. The BolaWrap 150 is designed to safely restrain individuals from a distance, marking a significant step in public safety technology.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the Arizona Municipal Risk Retention Pool (AMRRP) has unanimously approved funding to help member police agencies procure BolaWrap devices, covering 50% of the purchase price. AMRRP represents over 60 agencies with over 1,800 police officers. The Board believes that BolaWrap's technology could reduce risks and liability in police operations. CEO Tom Smith highlighted the growing demand for alternative policing methods and improved training solutions, emphasizing WRAP's commitment to innovative public safety solutions.
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.
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