Wrap Technologies, Inc. Reports Fourth Quarter and Full Year 2024 Results
Wrap Technologies (NASDAQ: WRAP) reported mixed Q4 and full-year 2024 results. Q4 revenue increased 47% to $0.9M, with improved gross profit of $0.4M. However, full-year 2024 revenue declined 27% to $4.5M.
Despite revenue decline, the company showed significant financial improvements: gross margin increased to 54%, operating loss improved 17% to $(15.6M), and net loss decreased 81% to $(5.9M). Monthly cash burn reduced to $600,000.
Key developments include: regaining Nasdaq compliance, establishing a new manufacturing facility in Virginia, introducing Managed Safety and Response ecosystem, acquiring W1 Global , and closing a $5.8M private placement. The company expanded leadership with former FBI veterans and strengthened its international growth strategy.
The company's focus remains on scaling integrated solutions beyond BolaWrap, expanding globally through U.S. government partnerships, and pursuing federal funding opportunities.
Wrap Technologies (NASDAQ: WRAP) ha riportato risultati misti per il quarto trimestre e per l'intero anno 2024. I ricavi del quarto trimestre sono aumentati del 47% a 0,9 milioni di dollari, con un miglioramento del profitto lordo a 0,4 milioni di dollari. Tuttavia, i ricavi dell'intero anno 2024 sono diminuiti del 27% a 4,5 milioni di dollari.
Nonostante la diminuzione dei ricavi, l'azienda ha mostrato significativi miglioramenti finanziari: il margine lordo è aumentato al 54%, la perdita operativa è migliorata del 17% a $(15,6 milioni), e la perdita netta è diminuita dell'81% a $(5,9 milioni). Il consumo mensile di liquidità è stato ridotto a 600.000 dollari.
Tra i principali sviluppi ci sono: il ripristino della conformità con il Nasdaq, l'istituzione di un nuovo impianto di produzione in Virginia, l'introduzione dell'ecosistema Managed Safety and Response, l'acquisizione di W1 Global e la chiusura di un collocamento privato da 5,8 milioni di dollari. L'azienda ha ampliato la leadership con ex veterani dell'FBI e ha rafforzato la sua strategia di crescita internazionale.
Il focus dell'azienda rimane sull'espansione di soluzioni integrate oltre BolaWrap, sull'espansione globale attraverso partnership con il governo degli Stati Uniti e sulla ricerca di opportunità di finanziamento federale.
Wrap Technologies (NASDAQ: WRAP) informó resultados mixtos para el cuarto trimestre y el año completo 2024. Los ingresos del cuarto trimestre aumentaron un 47% a $0.9 millones, con una mejora en la ganancia bruta de $0.4 millones. Sin embargo, los ingresos del año completo 2024 disminuyeron un 27% a $4.5 millones.
A pesar de la disminución de ingresos, la compañía mostró mejoras financieras significativas: el margen bruto aumentó al 54%, la pérdida operativa mejoró un 17% a $(15.6 millones), y la pérdida neta disminuyó un 81% a $(5.9 millones). La quema mensual de efectivo se redujo a $600,000.
Los desarrollos clave incluyen: recuperar la conformidad con Nasdaq, establecer una nueva instalación de fabricación en Virginia, introducir el ecosistema de Seguridad y Respuesta Administrada, adquirir W1 Global y cerrar un colocación privada de $5.8 millones. La compañía amplió su liderazgo con ex veteranos del FBI y fortaleció su estrategia de crecimiento internacional.
El enfoque de la compañía sigue siendo escalar soluciones integradas más allá de BolaWrap, expandiéndose globalmente a través de asociaciones con el gobierno de EE. UU. y buscando oportunidades de financiamiento federal.
랩 테크놀로지스 (NASDAQ: WRAP)는 2024년 4분기 및 연간 실적을 발표했습니다. 4분기 매출은 47% 증가하여 90만 달러에 달했으며, 총 이익은 40만 달러로 개선되었습니다. 그러나 2024년 전체 매출은 27% 감소하여 450만 달러에 그쳤습니다.
매출 감소에도 불구하고 회사는 상당한 재무 개선을 보여주었습니다: 총 마진이 54%로 증가하고, 운영 손실이 17% 개선되어 $(1560만)으로 줄어들었으며, 순손실이 81% 감소하여 $(590만)으로 나타났습니다. 월간 현금 소모는 60만 달러로 줄어들었습니다.
주요 개발 사항으로는: 나스닥 규정 준수 회복, 버지니아에 새로운 제조 시설 설립, 관리 안전 및 대응 생태계 도입, W1 글로벌 인수, 580만 달러의 사모 배급 마감이 포함됩니다. 회사는 전 FBI 출신의 리더십을 확대하고 국제 성장 전략을 강화했습니다.
회사의 초점은 볼라랩을 넘어 통합 솔루션을 확장하고, 미국 정부와의 파트너십을 통해 글로벌로 확장하며, 연방 자금 조달 기회를 추구하는 것입니다.
Wrap Technologies (NASDAQ: WRAP) a annoncé des résultats mitigés pour le quatrième trimestre et l'année complète 2024. Les revenus du quatrième trimestre ont augmenté de 47 % pour atteindre 0,9 million de dollars, avec une amélioration du bénéfice brut à 0,4 million de dollars. Cependant, les revenus de l'année 2024 ont diminué de 27 % pour atteindre 4,5 millions de dollars.
Malgré cette baisse des revenus, l'entreprise a montré des améliorations financières significatives : la marge brute a augmenté à 54 %, la perte d'exploitation s'est améliorée de 17 % pour atteindre $(15,6 millions), et la perte nette a diminué de 81 % pour atteindre $(5,9 millions). La consommation mensuelle de liquidités a été réduite à 600 000 dollars.
Les développements clés incluent : le rétablissement de la conformité avec le Nasdaq, l'établissement d'une nouvelle installation de fabrication en Virginie, l'introduction de l'écosystème Managed Safety and Response, l'acquisition de W1 Global et la clôture d'un placement privé de 5,8 millions de dollars. L'entreprise a élargi sa direction avec d'anciens vétérans du FBI et a renforcé sa stratégie de croissance internationale.
Le focus de l'entreprise reste sur l'expansion de solutions intégrées au-delà de BolaWrap, l'expansion mondiale par le biais de partenariats avec le gouvernement américain et la recherche d'opportunités de financement fédéral.
Wrap Technologies (NASDAQ: WRAP) hat gemischte Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Die Einnahmen im vierten Quartal stiegen um 47% auf 0,9 Millionen Dollar, während der Bruttogewinn auf 0,4 Millionen Dollar verbessert wurde. Die Einnahmen für das gesamte Jahr 2024 sanken jedoch um 27% auf 4,5 Millionen Dollar.
Trotz des Rückgangs der Einnahmen zeigte das Unternehmen erhebliche finanzielle Verbesserungen: Die Bruttomarge stieg auf 54%, der operative Verlust verbesserte sich um 17% auf $(15,6 Millionen), und der Nettoverlust verringerte sich um 81% auf $(5,9 Millionen). Der monatliche Geldverbrauch wurde auf 600.000 Dollar reduziert.
Zu den wichtigsten Entwicklungen gehören: die Wiederherstellung der Nasdaq-Konformität, die Einrichtung einer neuen Produktionsstätte in Virginia, die Einführung des Managed Safety and Response-Ökosystems, die Übernahme von W1 Global und der Abschluss einer Privatplatzierung über 5,8 Millionen Dollar. Das Unternehmen hat die Führung mit ehemaligen FBI-Veteranen erweitert und seine internationale Wachstumsstrategie gestärkt.
Der Fokus des Unternehmens bleibt auf der Skalierung integrierter Lösungen über BolaWrap hinaus, der globalen Expansion durch Partnerschaften mit der US-Regierung und der Verfolgung von Möglichkeiten zur Bundesfinanzierung.
- 81% reduction in net loss from $(30.2M) to $(5.9M)
- Gross margin improved by 7 percentage points to 54%
- Q4 revenue grew 47% year-over-year
- Monthly cash burn reduced to $600,000
- Secured $5.8M through private placement
- Regained Nasdaq compliance
- Full-year revenue declined 27% to $4.5M
- Operating loss remains high at $(15.6M)
- Still operating at a significant net loss of $(5.9M)
Insights
Wrap's Q4 results signal a potential turnaround in progress after a challenging restructuring year. The quarterly 47% revenue growth to $0.9M and dramatic $10.8M improvement in operating losses demonstrate the effectiveness of their cost-cutting initiatives, even as annual revenue declined 27% to $4.5M.
The financial discipline is impressive - 81% reduction in net losses (from $30.2M to $5.9M), 37% decrease in cost of revenue, and 7 percentage point gross margin improvement to over 54%. Monthly cash burn has been reduced to approximately $600,000 on an annualized basis.
The $5.8M private placement closed in February provides runway to execute their strategic pivot from a single-product company to an integrated public safety ecosystem. Their acquisition of W1 Global strengthens capabilities and opens doors to defense and federal markets.
Despite these improvements, Wrap remains unprofitable with a $15.6M operating loss for 2024. The key question is whether the Q4 revenue acceleration represents a genuine inflection point or a temporary uptick. Their strategic shift toward recurring revenue and integrated solutions could significantly improve economics if successful, but execution risks remain substantial as they attempt to scale beyond their core BolaWrap product.
Wrap Technologies’ Strategic Reset and Outlook
MIAMI, March 31, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announced financial and operating results for the fourth quarter and full year ended December 31, 2024.
Q4 2024 Financial Results:
- Revenue increased
47% , from$0.6 million in 2023 to$0.9 million in 2024. - Gross Profit improved by
$0.7 million , rising from$(0.3) million in 2023 to$0.4million in 2024 - Total Operating Expenses decreased
21% , from$6.3million in 2023 to$5.0million in 2024 - Sales, General & Administrative (SG&A) Expenses declined
19% , from$5.8million in 2023 to$4.7million in 2024 - Net Loss from Operations improved by
$10.8million , decreasing from$(18.4) million in 2023 to$(7.6) million in 2024
2024 Financial Results:
- Revenue was
$4.5 million in 2024, down27% from$6.1million in 2023. - Cost of Revenue decreased
37% , from$3.2million in 2023 to$2.0million in 2024. - Gross Margin increased by over 7 percentage points, rising from
47% to over54% . - Operating Loss improved
17% , decreasing from$(18.7) million in 2023 to$(15.6) million in 2024, - Net Loss improved
81% , from$(30.2) million in 2023 to$(5.9) million in 2024,
Recent Operational Highlights:
- October 2024: Wrap regained compliance with Nasdaq’s continued listing requirements.
- November 2024: announced Wrap’s Go-Forward Strategy, including a new advanced manufacturing facility in Wise, Virginia, focused on innovation, job creation, and expanding Wrap’s presence in defense, education and public safety markets.
- February 2025: introduced Wrap’s Managed Safety and Response (MSR) connected ecosystem, bringing together tools, technology and training to deliver real-time, integrated public safety support.
- February 2025: acquired W1 Global, LLC, integrating former FBI, DEA, and DoD leadership into Wrap’s organization and enhancing its ability to deliver Made-in-America, end-to-end public safety and defense solutions.
- February 2025: closed a
$5.8 million private placement of the Company’s securities to support the execution of its go-forward strategy. - March 2025: expanded Wrap’s leadership in managed services with the addition of Joseph Bonavolonta, a 27-year FBI veteran, and Rob Heuchling, a 15-year FBI career, to scale the Company’s support offerings.
- March 2025: appointed Stephen M. Renna, former Executive at the Export-Import Bank of the United States, to lead Wrap’s international growth and financing strategy, strengthening its global expansion efforts.
2024 Management Commentary Summary:
2024 was a transformational year for Wrap. The Company made a deliberate choice to restructure. This reset led to a significant reduction in monthly cash burn to approximately
Despite a
The Company’s BolaWrap remains as an entry-point into a broader public safety platform. Usage data collected by the Company shows officers deploy the device more frequently than any other on their belt when Wrap provides full support. Demand is expanding, both domestically and internationally, as restrictive use-of-force policies create a market need for early-stage de-escalation tools paired with robust training.
Wrap’s product roadmap is evolving into an integrated, end-to-end solution, with agencies requesting complementary tools such as VR training, body cameras and additional services. The Company has begun to engage with U.S. government resources like EXIM Bank and the DoD’s Office of Strategic Capital to scale international expansion and support "Made in USA" public safety initiatives.
Wrap revitalized every leadership role, assembling what we believe to be a high-caliber team with backgrounds across elite public and private sector institutions. The acquisition of W1 Global, LLC has already yielded new opportunities and expanded the Company’s reach into critical law enforcement networks, both domestic and global.
Outlook:
As we enter 2025, we believe Wrap is well positioned to capitalize on the groundwork laid during its transformation year. We anticipate measurable progress each quarter as we execute our strategy and scale operations.
Key priorities for 2025 include:
- Scaling Integrated Solutions: we expect to continue expanding beyond the BolaWrap into a full ecosystem of de-escalation tools, including training, VR simulation, and more.
- Global Growth: we are leveraging U.S. government partnerships and resources (e.g., EXIM Bank, DoD) to support our international strategy. Several late-stage international deals are in motion, and we anticipate converting those into significant revenue opportunities.
- Federal and Strategic Engagements: our recent additions to the team opens the door to U.S. federal funding programs and public safety initiatives, which we believe enables Wrap to serve as a trusted vendor for government-backed public safety efforts globally.
- Innovation: the expanded talent bench is expected to provide new capabilities in high-trust, high-security sectors. We plan to productize and monetize these capabilities through partnerships, contracts and services.
- Performance and Accountability: we are building a culture that rewards execution with compensation structures dependent upon results. We expect KPIs around product deployment, training efficacy, customer satisfaction and recurring revenue will guide our actions and investments.
We believe the public safety market is at an inflection point, and believe that Wrap is positioned to lead a new era of non-lethal policing solutions. We believe our value proposition is more relevant than ever—officers and agencies need tools that de-escalate situations without force and communities are demanding safer outcomes.
Our confidence is not theoretical—it's reflected in the capital, commitment, and conviction of our leadership team.
About Wrap Technologies, Inc.
Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.
Wrap’s BolaWrap® solution is a safer way to gain compliance—without pain. This innovative, patented device deploys light, sound, and a Kevlar® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.
Wrap Reality™ VR is an advanced, fully immersive training simulator designed to enhance decision-making under pressure. As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.
Wrap’s Intrensic solution is an advanced body-worn camera and evidence management system built for efficiency, security, and transparency. Designed to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.
Trademark Information
Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
Investor Relations Contact:
(800) 583-2652
ir@wrap.com
FAQ
What was Wrap Technologies (WRAP) revenue performance in Q4 2024?
How much did Wrap Technologies reduce its net loss in 2024?
What was the size of WRAP's private placement in February 2025?
What is WRAP's current monthly cash burn rate after restructuring?
What strategic acquisition did WRAP complete in February 2025?
