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) generates news centered on non-lethal public safety technology, law enforcement adoption, and the evolution of its integrated product ecosystem. As a manufacturer of the BolaWrap 150 non-lethal restraint device, WrapReality immersive VR training, WrapVision body-worn camera and evidence management system, WrapTactics training programs, and CUAS platforms like PAN-DA, MERLIN-Interdictor, and the 1KC Kinetic Anti-Drone Cassette, the company’s announcements often highlight how these offerings are being deployed and expanded.
Investors and public safety professionals following WRAP news will see regular updates on agency deployments and training programs. Recent releases describe Glenwood Springs Police Department, Alliance Police Department, and Rio Grande City Police Department integrating BolaWrap 150 into structured non-lethal response frameworks that combine equipment, policy, and recurring training. These stories provide insight into how agencies position BolaWrap as an early intervention option within their use-of-force policies, especially in encounters involving behavioral-health crises and non-compliant but non-violent individuals.
Wrap also issues news about product development and intellectual property, such as filings for next-generation, shoulder-mounted multi-shot non-lethal response platforms with optional directional sound, high-intensity light, advanced sighting, and selectable engagement modes. Other coverage includes milestones in counter-UAS development, like air-to-air interdiction tests using MERLIN-Interdictor payloads on drone platforms, and partnerships with manufacturing and policy organizations such as K-Form and LETAC.
Financial and corporate governance updates appear through earnings releases and SEC-related announcements, including revenue trends, subscription growth tied to programs like WrapReady and WrapPlus, and capital structure decisions involving preferred stock and warrants. For a consolidated view of these developments, the WRAP news page offers a chronological feed of company press releases and related disclosures that reflect Wrap’s focus on non-lethal response, training, evidence management, and modern defense applications.
Wrap Technologies, Inc. (Nasdaq: WRAP) showcased effective deployment of its BolaWrap® Remote Restraint device by the LaGrange Police Department in Georgia on September 4, 2022. Officers responded to a call regarding a man acting erratically under the influence of drugs. The BolaWrap was successfully used to de-escalate the situation without force. CEO TJ Kennedy highlighted this success as evidence of the device's potential to enhance public safety and minimize injuries during apprehensions. The footage can be viewed online, showcasing real-world applications of the technology.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a significant advancement in the deployment of its BolaWrap 150 devices with the Los Angeles Police Department (LAPD). The large-scale field deployment involves 500 units across Hollywood and Central divisions, following training conducted in April and May 2022. This initiative aims to enhance officers' ability to de-escalate situations safely without using force, reflecting Wrap's commitment to innovative public safety technology. CEO TJ Kennedy highlighted the partnership's potential to support community policing efforts.
Usio, Inc. has appointed Paul Manley as the new Senior Vice President of Investor Relations, effective August 22, 2022. With over 25 years of experience, including prior roles at Wrap Technologies and leading financial firms, he aims to enhance Usio's investor relations efforts. Louis Hoch, President and CFO, expressed enthusiasm over Manley's expertise, indicating it will help improve stakeholder understanding of the company's strategy and financial performance. Usio specializes in cloud-based integrated payment solutions for various entities, including merchants and banks.
Wrap Technologies (Nasdaq: WRAP) announced a significant international sale of its BolaWrap 150 remote restraint device to a Middle Eastern customer. This marks the agency's first order following a previous purchase from a neighboring state. The company's VP of International Sales highlighted a regional trend towards equipping officers with non-lethal tools, emphasizing the commitment to public safety. Wrap also offers advanced training solutions, including the Wrap Reality virtual training system, aimed at enhancing law enforcement's de-escalation skills.
Wrap Technologies, Inc. (Nasdaq: WRAP) reported its Q2 2022 results, highlighting a net revenue of $1.2 million, down from $1.9 million year-over-year. The company achieved a gross profit of $0.5 million, reflecting a 39% gross margin, compared to a loss in Q2 2021. Operating expenses decreased by 32% to $5.2 million. Trained law enforcement agencies grew by 41% to over 1,130. CEO TJ Kennedy emphasized a strategic roadmap targeting profitability by late 2024 and a break-even cash flow by the end of 2023, leveraging the new BolaWrap 150 product.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a successful deployment of its BolaWrap remote restraint device by the Columbia County Sheriff’s Office on January 3, 2022. Officers used the device to safely detain a noncompliant subject during adverse weather conditions without injuries to staff or the subject. Sheriff Brian Pixley praised the BolaWrap for aiding in de-escalation, while CEO TJ Kennedy emphasized its role in supporting law enforcement. This incident reinforces BolaWrap's effectiveness as a non-lethal tool in public safety operations.
Wrap Technologies, Inc. (Nasdaq: WRAP) will host a Zoom webcast on August 10, 2022, at 5:00 p.m. Eastern time to discuss its Q2 financial and operational results for the period ending June 30, 2022. The results will be released shortly after market close that day. The call will feature CEO TJ Kennedy, President Kevin Mullins, CFO Chris DeAlmeida, and VP of Investor Relations Paul Manley. Investors can join the event via the provided webcast link or the company's investor relations website.
Wrap Technologies, Inc. (Nasdaq: WRAP) has announced Chris DeAlmeida as the new Chief Financial Officer, succeeding Jim Barnes, who is retiring. DeAlmeida brings extensive experience in financial planning, M&A, and improving profit margins, having previously served as CFO at Encore and Orion Group Holdings. His leadership is expected to enhance Wrap's strategic roadmap as the company continues to innovate in public safety technologies. CEO TJ Kennedy expressed optimism about DeAlmeida's contributions to the company's future growth.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a sale of its Societal Reentry Virtual Reality Enterprise Platform to the Pennsylvania Department of Corrections. This innovative software aims to assist incarcerated parents in preparing for reunification with their children through immersive VR training. The platform offers customizable scenarios in a 360-degree VR environment, potentially enhancing traditional training methods. Pennsylvania State University will evaluate the effectiveness of this program. CEO TJ Kennedy emphasized the positive impact on reentry and societal issues.
Wrap Technologies, Inc. (Nasdaq: WRAP) has released new body cam footage showcasing the effective use of its BolaWrap 150 device by Avon Police in a knife-related incident. On June 30, 2022, officers were able to safely detain a threatening individual without injury using the BolaWrap, which prevented the need for higher levels of force. Chief Greg Daly highlighted the device's role in de-escalating potentially violent situations. CEO TJ Kennedy praised law enforcement's commitment to innovative safety solutions, emphasizing the BolaWrap's effectiveness in public safety.