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Wrap Technologies Inc - WRAP STOCK NEWS

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.

Rhea-AI Summary

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.

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Wrap Technologies (NASDAQ: WRAP) announced the relocation of its manufacturing and distribution facility to Virginia, marking a strategic expansion of its public safety solutions business. The new 20,000-square-foot facility will centralize production of BolaWrap® and Wrap Reality™ platforms, while housing R&D zones for AR, VR, and integrated public safety devices. The $4.1 million project, supported by Virginia's government, aims to create over 120 new jobs and establish a professional services division focused on training and customer support. The company currently partners with over 40 agencies in Virginia, including major law enforcement departments.

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Wrap Technologies (NASDAQ: WRAP) reported significant financial improvements in Q3 2024, with operating expenses reduced by 22% year-over-year to $3.9 million from $4.9 million. The company achieved major cash flow improvements, with net cash used in operations decreasing by $6.0 million to $6.9 million for the nine months ended September 30, 2024. Q3 revenue was $593 thousand, with year-to-date revenue at $3.6 million. The company is focusing on monetizing $25 million in finished goods inventory and developing an integrated technology-as-a-service solution, anticipated to launch in Q1 2025.

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Wrap Technologies, Inc. (NASDAQ: WRAP), a global leader in innovative public safety solutions, has regained compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic reporting. The company received written notice from Nasdaq confirming this compliance, and the matter is now considered closed.

Importantly, the Form 10-Q financial disclosures contain no "Going Concern" opinion, indicating improved financial stability. Additionally, the company's 2025 Plan is fully funded, suggesting a solid financial foundation for future operations.

Wrap Technologies plans to provide details of its restructuring, vision, and new go-to-market strategy during the upcoming Third Quarter Earnings call, offering investors insight into the company's future direction and operational plans.

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Wrap Technologies (NASDAQ: WRAP) has received a notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Q2 2024 Form 10-Q. This follows previous notices for late filings of the 2023 Annual Report and Q1 2024 Form 10-Q. Nasdaq has granted an exception until August 30, 2024, to file the delinquent reports. The company must submit an updated compliance plan by September 3, 2024. Nasdaq may extend the compliance period to October 14, 2024. While there's no immediate effect on WRAP's listing, failure to comply could result in delisting from Nasdaq.

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Wrap Technologies (Nasdaq: WRAP) has announced a significant pilot program with the San Francisco Police Department (SFPD). The SFPD will deploy 60 BolaWrap devices to its Field Training/Force Options Unit, joining 50 other California-based law enforcement agencies in adopting this innovative de-escalation tool. The BolaWrap is designed to safely restrain non-compliant individuals using a Kevlar cord, potentially reducing the need for more forceful interventions.

SFPD officers will undergo comprehensive training in July 2024 to effectively integrate the BolaWrap into their operations. This initiative aims to address the increasing number of mental health-related calls and support the advancement of community policing tactics. Wrap Technologies currently supports over 1,000 agencies across the US and more than 60 countries worldwide with its BolaWrap device.

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Wrap Technologies, a leader in de-escalation tools, has addressed its audit and NASDAQ compliance issues, engaging HTL as new auditors and submitting a compliance plan to NASDAQ. The company has reduced operational expenses significantly, from $2.5 million to $700,000 per month by the end of 2024, a 72% reduction. Wrap is refocusing on customer engagement, product delivery, and use of force data capture. Their key product, the BolaWrap, is positioned to meet law enforcement's de-escalation needs amid increasing public scrutiny. The company aims to transform public safety with its non-lethal devices and training programs.

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Wrap Technologies (Nasdaq: WRAP) announced it has received a non-compliance notice from Nasdaq for failing to file its Quarterly Report on Form 10-Q for Q1 2024 and its Annual Report on Form 10-K for 2023. The company has until June 17, 2024, to submit a compliance plan to Nasdaq. If accepted, Wrap Technologies may be granted up to 180 days to file both reports. Failure to comply could result in delisting from Nasdaq. The notification currently has no immediate impact on WRAP's stock listing.

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Wrap Technologies, Inc. (NASDAQ: WRAP) announces a strategic distribution partnership with Kokusai Security Service in the Asia-Pacific region. This collaboration aims to bring advanced public safety solutions, including the BolaWrap remote restraint device and Wrap Reality VR Training system, to law enforcement agencies and security professionals. Leveraging Kokusai Security's expertise, the partnership is expected to drive adoption of Wrap Technologies' products in the region.

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Wrap Technologies, Inc. (Nasdaq: WRAP) has received a notification from the Nasdaq Stock Market stating non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The company has 60 days to submit a compliance plan to Nasdaq or face potential delisting. The notification does not impact the immediate listing of the company's common stock.
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FAQ

What is the current stock price of Wrap Technologies (WRAP)?

The current stock price of Wrap Technologies (WRAP) is $1.62 as of April 1, 2025.

What is the market cap of Wrap Technologies (WRAP)?

The market cap of Wrap Technologies (WRAP) is approximately 81.4M.

What does Wrap Technologies Inc specialize in?

Wrap Technologies Inc specializes in advanced public safety solutions for law enforcement, including remote restraint devices, VR training systems, and digital evidence management.

How does the BolaWrap device work?

The BolaWrap is a patented hand-held remote restraint device that safely deploys a Kevlar cord to restrain noncompliant individuals from a distance, facilitating early intervention and de-escalation.

What is Wrap Reality and how is it used?

Wrap Reality is an immersive virtual reality training platform designed to simulate real-life law enforcement scenarios, helping officers practice de-escalation, crisis intervention, and tactical operations.

How does Wrap Technologies integrate AI into its solutions?

Wrap Technologies integrates AI through its WrapAI suite, which includes auto-tagging functionality to automatically categorize and analyze video evidence, reducing manual tagging and enhancing data management efficiency.

What kind of training support does Wrap Technologies provide?

Wrap offers extensive training programs certified by established law enforcement bodies, ensuring that officers gain expert knowledge in using products like the BolaWrap and VR training systems for optimal operational performance.

In which global regions does Wrap Technologies operate?

Wrap Technologies operates globally, serving law enforcement agencies across the Americas, Europe, the Middle East, Africa, and the Asia Pacific, with strategic partnerships enhancing regional support.

How does Wrap ensure the reliability of its evidence management systems?

Through its Intrensic solution, Wrap provides a secure and efficient body worn camera system with comprehensive digital evidence management, ensuring transparency, proper storage, and effective evidence tracking.

What distinguishes Wrap Technologies from its competitors?

Wrap Technologies stands out due to its integrated approach that combines innovative hardware, immersive software training, and AI-powered evidence solutions, all underpinned by a no-harm operational philosophy and rigorous certification standards.
Wrap Technologies Inc

Nasdaq:WRAP

WRAP Rankings

WRAP Stock Data

81.43M
29.87M
30.73%
9.78%
11.03%
Scientific & Technical Instruments
Ordnance & Accessories, (no Vehicles/guided Missiles)
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United States
MIAMI