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. (WRAP) delivers innovative public safety solutions through its BolaWrap remote restraint system, VR training platforms, and AI-powered evidence management tools. This news hub provides investors and public safety professionals with essential updates on the company’s operational milestones and technological advancements.
Access real-time updates on earnings reports, product certifications, and strategic partnerships. Track developments in WRAP’s law enforcement solutions including new market expansions, training program launches, and enhancements to its WrapAI evidence management platform.
Key content includes quarterly financial results, regulatory filings, product deployment announcements, and executive leadership updates. All press releases are sourced directly from official corporate communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to WRAP’s latest developments in de-escalation technologies and digital policing solutions. Check regularly for updates on patents, international distribution agreements, and field implementation case studies.
Wrap Technologies, Inc. (WRAP) announced a follow-on international order for 1,500 BolaWrap devices, marking the largest order in its history. This order stems from a prior demonstration conducted virtually through Zoom, illustrating the effective adaptation of sales strategies during the pandemic. The order was received in Q2 2021, with part of it shipped in that quarter and the remainder expected to be fulfilled in the second half of the year. WRAP's BolaWrap technology aims to enhance safety in law enforcement by providing a non-lethal option for restraining individuals.
Wrap Technologies (WRAP) has partnered with Amazon Web Services (AWS) to enhance its Wrap Reality platform using AWS GovCloud (US). This collaboration aims to streamline the development of a Virtual Reality training system for law enforcement, providing consulting services and expert access. The CEO, Tom Smith, emphasized the importance of AWS's extensive support and cloud services for innovative law enforcement training. The partnership is expected to accelerate WRAP's product roadmap and improve experiences for law enforcement agencies.
Wrap Technologies, Inc. (Nasdaq: WRAP) reported a strong second quarter with revenue growth of 132% year-over-year, reaching $1.9 million. The company saw a 27% sequential increase from the previous quarter. Despite a gross loss of $0.1 million due to a one-time expense of $0.7 million, gross profit would have been $0.7 million, or 36%. Trained agencies increased by 85%, and certified instructors grew by 106%. The company generated $12.0 million in cash through warrant exercises. Management remains optimistic despite ongoing international travel restrictions.
Wrap Technologies (Nasdaq: WRAP) commended the House Appropriations Committee for integrating police reform in the FY 2022 appropriations bill. The report emphasizes the review of virtual reality de-escalation training and humane remote restraint devices to decrease lethal force incidents, especially for individuals with mental health issues. CEO Tom Smith praised bipartisan congressional support for this initiative, underpinning the importance of their technology solutions in advancing law enforcement practices.
Wrap Technologies, Inc. (Nasdaq: WRAP) will host a Zoom webcast on July 29, 2021, at 4:30 p.m. Eastern to discuss its financial and operational results for Q2 2021. The call will feature CEO Tom Smith, CFO Jim Barnes, and new COO Glenn Hickman. A Q&A session will follow the prepared remarks. Interested parties can register via the provided link and access the live webcast through the Company's Investor Relations page. Wrap Technologies focuses on public safety technologies, including the BolaWRAP device and WRAP Reality training system, enhancing law enforcement capabilities.
Wrap Technologies, Inc. (WRAP) has been accepted as a signatory member of the United Nations Global Compact, joining over 9,000 companies worldwide. This commitment aligns with WRAP's Environmental, Social, and Governance (ESG) program, showcasing their dedication to public safety through innovative technology solutions. CEO Tom Smith emphasized that the Global Compact’s guidelines resonate with their mission to enhance community safety and integrity. The company's BolaWRAP® device provides an effective, non-injurious means of detaining individuals, reinforcing WRAP's role in law enforcement.
Wrap Technologies, Inc. (WRAP) announced Glenn Hickman as the new Chief Operating Officer, succeeding retiring CTO Woody Norris. Hickman, previously with Axon Enterprises, is tasked with advancing WRAP’s product lines, including the BolaWRAP. His extensive background in R&D and manufacturing is expected to enhance operations. Norris, who has a notable career with over 80 patents, will act as a strategic consultant focusing on innovation. This leadership transition aims to foster growth in public safety technologies.
Wrap Technologies (Nasdaq: WRAP) announced that the Princeton Police Department will utilize its WRAP Reality Virtual Training Platform for law enforcement training. This platform provides immersive training scenarios focusing on skills like de-escalation and community policing. The virtual training market is expected to grow from $204.41 billion in 2019 to $601.85 billion by 2027. The collaboration aims to enhance officer preparedness and improve critical decision-making skills, marking a significant step in modern police training.
Wrap Technologies, Inc. (WRAP) will hold its virtual 2021 annual meeting of stockholders on June 22, 2021, at 9:00 A.M. PT. Stockholders as of April 26, 2021, can attend via a provided link or phone. Voting and proxy submissions are encouraged before the 5:00 P.M. PT deadline on June 21, 2021. The company emphasizes participation and has made details available through its proxy statement filed on April 30, 2021. Wrap Technologies is known for its innovative public safety solutions, including the BolaWrap device and WRAP Reality training system.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the exercise period for warrants from its 2019 offering has expired as of June 18, 2021. Out of 2,076,922 warrants issued, approximately 99.9% were exercised, generating around $12.5 million in proceeds, with $12.05 million received in the current fiscal quarter. CFO James Barnes indicated that the capital will support sales growth, product development, and operational costs. The cancellation of the unexercised warrants will remove future dilutive effects on WRAP's public float.
