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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.
Wrap Technologies (Nasdaq: WRAP) reported a successful deployment of its BolaWrap® Remote Restraint device by the Columbia Missouri Police Department. The incident involved a suspect in a behavioral health crisis who was safely taken into custody without harm. Assistant Chief Brian Richenberger praised the BolaWrap® for allowing officers to manage the situation without pain-inducing methods. CEO TJ Kennedy commended the officers for their professional response, highlighting the device's potential to de-escalate situations. Wrap is committed to providing innovative solutions for safer policing, enhancing public safety through its products and immersive training programs.
TEMPE, Ariz., Jan. 31, 2023 – Wrap Technologies (Nasdaq: WRAP) will conduct an investor webinar on February 1, 2023 at 5:00 p.m. Eastern time, focusing on its BolaWrap® tool. The session will discuss its role in non-pain compliance and review a body camera video. Management will present for 30 minutes, followed by a Q&A session. Participants can submit questions in advance until 8:00 p.m. Eastern time on January 31. The webinar can be accessed here.
Wrap Technologies, Inc. (Nasdaq: WRAP) has been invited to present at Lake Street’s Take Aim Conference, taking place virtually on January 25-26, 2023. Management will conduct one-on-one and group calls with investors on January 26. The conference aims to showcase investment opportunities in consumer spaces, allowing institutional investors to engage with executives from various companies.
Wrap is recognized for its innovative public safety technologies, including the BolaWrap Remote Restraint Device and WRAP Reality, a virtual reality training system for law enforcement. These products promote non-pain compliance solutions to enhance public safety practices.
Wrap Technologies, Inc. (Nasdaq: WRAP) has announced a significant deployment of its BolaWrap 150® remote restraint devices across multiple law enforcement agencies in Montgomery County, Texas. This initiative, funded by a grant from the Court of Commissioners of Montgomery County, aims to enhance public safety by equipping the Montgomery County Sheriff’s Office, Constable Offices, and Fire Marshal’s Office with innovative restraint technology. The BolaWrap 150 enables officers to safely subdue individuals from a distance without causing pain, thereby improving safety for both officers and the community.
Wrap Technologies (Nasdaq: WRAP) announced a Professional Services and Technology Acquisition Agreement with Lumeto, Inc. to develop a cloud-based virtual reality training platform. This collaboration aims to enhance the Wrap Reality training platform, allowing for more flexible and cost-effective training solutions for law enforcement agencies. Lumeto will provide technology and licenses, expediting the development of new training scenarios. CEO TJ Kennedy emphasized that this partnership will significantly improve training methods and customer experiences in law enforcement.
Wrap Technologies, Inc. (Nasdaq: WRAP) reported its third quarter 2022 results, with significant improvements in profitability metrics. The company achieved a record 54% gross margin and $1.70 million in net revenue, despite a 6% year-over-year decline. A historic $1.5 million order for the BolaWrap 150 was received in October, indicating strong demand. Operational expenses were reduced by 28%, contributing to a 35% improvement in net loss. Wrap aims for cash flow break-even by the end of 2023 and profitability by 2024.
Wrap Technologies (Nasdaq: WRAP) announced significant international orders for its BolaWrap 150 remote restraint devices on November 9, 2022. The company secured an initial order from a large law enforcement agency in South America for 120 devices and related training services. Furthermore, an order from a new EMEA customer is valued at over $1.5 million, marking the largest single order in WRAP's history. These developments are expected to enhance WRAP’s revenue growth in Q4 2022, indicating strong momentum in international markets.
Wrap Technologies, Inc. (Nasdaq: WRAP) will host a video webcast on November 9, 2022, at 5:00 p.m. Eastern to discuss its financial results for Q3 ending September 30, 2022. A press release with results will precede the call. The event will feature management presentations and a Q&A segment, with questions submitted by November 4. Wrap specializes in public safety technologies, including its BolaWrap device and Wrap Reality training system, designed to enhance law enforcement capabilities.
Wrap Technologies (Nasdaq: WRAP) has introduced the Wrap Reality ADAPT, an advanced virtual training software for law enforcement, featuring over 6,000 customizable scenarios. This upgrade enhances immersive training by allowing real-world situations to be tailored, providing a highly engaging experience with virtually unlimited scripting. According to CEO TJ Kennedy, this innovation aims to meet the evolving needs of public safety officials, offering a cost-effective solution that ensures ongoing adaptability and significant returns on investment.
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.
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