Wrap Technologies Inc Financials

WRAP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Wrap Technologies Inc (WRAP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 2/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Wrap Technologies Inc has an operating margin of -345.4%, meaning the company retains $-345 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -305.3% the prior year.

Growth

Wrap Technologies Inc's revenue declined 26.5% year-over-year, from $6.1M to $4.5M. This contraction results in a growth score of 0/100.

Leverage

Wrap Technologies Inc has elevated debt relative to equity (D/E of 59.48), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Wrap Technologies Inc's current ratio of 0.79 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 12/100, which could limit financial flexibility.

Cash Flow

While Wrap Technologies Inc generated -$8.1M in operating cash flow, capex of $12K consumed most of it, leaving -$8.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

Wrap Technologies Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

1.38x

For every $1 of reported earnings, Wrap Technologies Inc generates $1.38 in operating cash flow (-$8.1M OCF vs -$5.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$4.5M

YoY-26.5%

5Y CAGR+45.3%

Wrap Technologies Inc generated $4.5M in revenue in fiscal year 2024. This represents a decrease of 26.5% from the prior year.

EBITDA

-$14.7M

YoY+17.6%

Wrap Technologies Inc's EBITDA was -$14.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.6% from the prior year.

Free Cash Flow

-$8.1M

YoY+51.9%

Wrap Technologies Inc generated -$8.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 51.9% from the prior year.

Net Income

-$5.9M

YoY+80.6%

Wrap Technologies Inc reported -$5.9M in net income in fiscal year 2024. This represents an increase of 80.6% from the prior year.

EPS (Diluted)

$-0.16

YoY+77.8%

Wrap Technologies Inc earned $-0.16 per diluted share (EPS) in fiscal year 2024. This represents an increase of 77.8% from the prior year.

Cash & Debt

$3.6M

YoY-8.7%

5Y CAGR-26.6%

Wrap Technologies Inc held $3.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

47M

YoY+7.4%

5Y CAGR+9.6%

Wrap Technologies Inc had 47M shares outstanding in fiscal year 2024. This represents an increase of 7.4% from the prior year.

Gross Margin

54.7%

YoY+7.3pp

5Y CAGR+15.0pp

Wrap Technologies Inc's gross margin was 54.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 7.3 percentage points from the prior year.

Operating Margin

-345.4%

YoY-40.1pp

5Y CAGR+890.8pp

Wrap Technologies Inc's operating margin was -345.4% in fiscal year 2024, reflecting core business profitability. This is down 40.1 percentage points from the prior year.

Net Margin

-130.4%

YoY+362.4pp

5Y CAGR+1064.5pp

Wrap Technologies Inc's net profit margin was -130.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 362.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$2.3M

YoY-28.3%

5Y CAGR+0.9%

Wrap Technologies Inc invested $2.3M in research and development in fiscal year 2024. This represents a decrease of 28.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$12K

YoY-94.8%

5Y CAGR-45.8%

Wrap Technologies Inc invested $12K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 94.8% from the prior year.

WRAP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$4.5M-26.5%	$6.1M-23.8%	$8.0M+4.1%	$7.7M+96.0%	$3.9M+466.0%	$697K
Cost of Revenue	$2.0M-36.7%	$3.2M-25.2%	$4.3M-13.5%	$5.0M+91.7%	$2.6M+519.3%	$420K
Gross Profit	$2.5M-15.2%	$2.9M-22.2%	$3.7M+87.2%	$2.0M+48.5%	$1.3M+385.2%	$277K
R&D Expenses	$2.3M-28.3%	$3.3M-35.7%	$5.1M-18.3%	$6.2M+122.8%	$2.8M+24.7%	$2.2M
SG&A Expenses	$15.7M-14.6%	$18.4M+12.1%	$16.4M-19.2%	$20.3M+74.3%	$11.6M+74.8%	$6.7M
Operating Income	-$15.6M+16.9%	-$18.7M-5.6%	-$17.7M+27.6%	-$24.5M-87.3%	-$13.1M-51.8%	-$8.6M
Interest Expense	N/A	N/A	N/A	$0-100.0%	$2K	$0
Income Tax	N/A	$0	$0	$0	$0	$0
Net Income	-$5.9M+80.6%	-$30.2M-71.5%	-$17.6M+27.9%	-$24.4M-94.3%	-$12.6M-51.1%	-$8.3M
EPS (Diluted)	$-0.16+77.8%	$-0.72	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$1.5M+47.3%	$1.0M+32.3%	$765K+29.9%	$589K-83.8%	$3.6M+202.1%	$1.2M+69.1%	$711K-80.2%	$3.6M
Cost of Revenue	$608K+15.8%	$525K+208.8%	$170K-80.7%	$880K-39.5%	$1.5M+172.3%	$534K+48.7%	$359K-81.0%	$1.9M
Gross Profit	$883K+81.3%	$487K-18.2%	$595K+304.5%	-$291K-113.4%	$2.2M+225.9%	$668K+89.8%	$352K-79.3%	$1.7M
R&D Expenses	$167K+3.1%	$162K-57.1%	$378K-35.2%	$583K-4.4%	$610K-39.1%	$1.0M-6.5%	$1.1M+23.1%	$871K
SG&A Expenses	$3.5M+9.3%	$3.2M-23.1%	$4.1M-28.1%	$5.8M+33.4%	$4.3M-9.0%	$4.7M+34.0%	$3.5M-20.1%	$4.4M
Operating Income	-$2.8M+3.3%	-$2.9M+27.2%	-$3.9M+40.9%	-$6.6M-141.2%	-$2.8M+45.9%	-$5.1M-19.2%	-$4.3M-18.3%	-$3.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.8M+25.6%	-$3.7M-3519.3%	$109K+100.6%	-$18.4M-561.2%	-$2.8M+44.4%	-$5.0M-24.3%	-$4.0M-13.9%	-$3.5M
EPS (Diluted)	$-0.06+14.3%	$-0.07	N/A	N/A	N/A	N/A	N/A	N/A

WRAP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$15.1M-46.9%	$28.5M-6.8%	$30.6M-30.9%	$44.2M-9.4%	$48.8M+139.1%	$20.4M
Current Assets	$10.5M-50.7%	$21.2M-21.0%	$26.9M-34.8%	$41.2M-12.2%	$46.9M+138.5%	$19.7M
Cash & Equivalents	$3.6M-8.7%	$4.0M-25.8%	$5.3M+8.0%	$4.9M-70.3%	$16.6M-2.0%	$17.0M
Inventory	$6.2M+6.5%	$5.8M+45.8%	$4.0M+153.8%	$1.6M-41.0%	$2.7M+18.3%	$2.2M
Accounts Receivable	$513K-83.0%	$3.0M+6.9%	$2.8M-26.7%	$3.9M+106.3%	$1.9M+857.8%	$195K
Goodwill	N/A	$1.6M	$0	N/A	N/A	N/A
Total Liabilities	$14.9M-41.3%	$25.3M+620.6%	$3.5M+18.5%	$3.0M+22.7%	$2.4M+97.3%	$1.2M
Current Liabilities	$13.2M-43.9%	$23.5M+645.6%	$3.2M+10.5%	$2.9M+22.1%	$2.3M+117.5%	$1.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$250K-92.1%	$3.2M-88.3%	$27.1M-34.4%	$41.3M-11.1%	$46.4M+141.8%	$19.2M
Retained Earnings	-$105.1M-7.2%	-$98.0M-45.4%	-$67.4M-35.4%	-$49.8M-96.6%	-$25.3M-98.8%	-$12.7M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$18.2M+16.8%	$15.6M-13.1%	$18.0M-36.9%	$28.5M-10.0%	$31.7M+2.6%	$30.9M+13.3%	$27.2M-10.9%	$30.6M
Current Assets	$13.6M+20.0%	$11.3M-16.1%	$13.5M-36.4%	$21.2M-17.8%	$25.8M-5.6%	$27.4M+15.8%	$23.6M-12.0%	$26.9M
Cash & Equivalents	$6.0M+42.8%	$4.2M-32.3%	$6.2M+56.0%	$4.0M-19.8%	$4.9M-57.8%	$11.7M+23.0%	$9.5M+78.3%	$5.3M
Inventory	$5.5M-7.5%	$5.9M-2.9%	$6.1M+5.0%	$5.8M-0.4%	$5.8M-10.8%	$6.5M+15.9%	$5.6M+41.5%	$4.0M
Accounts Receivable	$1.8M+101.1%	$906K+37.3%	$660K-78.2%	$3.0M-30.0%	$4.3M+121.7%	$1.9M+69.3%	$1.2M-59.3%	$2.8M
Goodwill	$1.6M+1.8%	$1.6M0.0%	$1.6M0.0%	$1.6M-0.1%	$1.6M	N/A	N/A	$0
Total Liabilities	$4.1M+6.8%	$3.9M-75.0%	$15.4M-39.2%	$25.3M+128.4%	$11.1M+0.1%	$11.1M+201.2%	$3.7M+4.6%	$3.5M
Current Liabilities	$1.9M-4.7%	$2.0M-85.5%	$13.8M-41.2%	$23.5M+117.6%	$10.8M0.0%	$10.8M+218.8%	$3.4M+7.5%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$14.1M+20.1%	$11.8M+358.2%	$2.6M-18.8%	$3.2M-84.6%	$20.6M+4.0%	$19.8M-16.1%	$23.6M-12.9%	$27.1M
Retained Earnings	-$112.0M-2.7%	-$109.0M-3.7%	-$105.1M-7.3%	-$98.0M-23.4%	-$79.4M-3.9%	-$76.4M-7.0%	-$71.4M-6.0%	-$67.4M

WRAP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$8.1M+51.4%	-$16.7M-14.4%	-$14.6M+19.9%	-$18.2M-49.5%	-$12.2M-43.6%	-$8.5M
Capital Expenditures	$12K-94.8%	$230K-10.2%	$256K-74.3%	$995K+299.6%	$249K-3.0%	$257K
Free Cash Flow	-$8.1M+51.9%	-$16.9M-14.0%	-$14.9M+22.7%	-$19.2M-54.5%	-$12.4M-42.2%	-$8.7M
Investing Cash Flow	$7.3M+41.2%	$5.2M-65.3%	$14.9M+315.0%	-$6.9M+73.4%	-$26.1M-6732.0%	-$382K
Financing Cash Flow	$468K-95.4%	$10.2M+12128.9%	$83K-99.4%	$13.4M-64.6%	$38.0M+181.3%	$13.5M
Dividends Paid	$120K+106.9%	$58K	$0	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	-$2.6M-34.8%	-$1.9M+36.8%	-$3.1M+18.9%	-$3.8M+68.8%	-$12.1M-630.0%	$2.3M+174.7%	-$3.1M+14.0%	-$3.6M
Capital Expenditures	$85K+1316.7%	$6K+200.0%	$2K-97.9%	$97K+44.8%	$67K+31.4%	$51K+240.0%	$15K-72.7%	$55K
Free Cash Flow	-$2.7M-38.7%	-$1.9M+36.6%	-$3.1M+20.9%	-$3.9M+68.2%	-$12.2M-645.0%	$2.2M+172.7%	-$3.1M+14.9%	-$3.6M
Investing Cash Flow	-$96K-81.1%	-$53K+47.0%	-$100K-104.1%	$2.4M+155.2%	-$4.4M-4018.9%	-$106K-101.5%	$7.2M+42.8%	$5.1M
Financing Cash Flow	$4.5M	$0-100.0%	$5.7M+1346.7%	$396K-95.9%	$9.8M	$0	$0	$0
Dividends Paid	$0-100.0%	$500K+733.3%	$60K+3.4%	$58K-69.9%	$193K	$0	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WRAP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	54.7%+7.3pp	47.4%+1.0pp	46.4%+20.6pp	25.8%-8.2pp	34.1%-5.7pp	39.7%
Operating Margin	-345.4%-40.1pp	-305.3%-85.0pp	-220.3%+96.6pp	-316.9%+14.7pp	-331.6%+904.6pp	-1236.2%
Net Margin	-130.4%+362.4pp	-492.7%-273.9pp	-218.9%+97.5pp	-316.3%+2.6pp	-319.0%+875.9pp	-1194.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-38.9%+67.2pp	-106.0%-48.4pp	-57.6%-2.4pp	-55.3%-29.5pp	-25.8%+15.0pp	-40.8%
Current Ratio	0.79-0.1	0.90-7.6	8.51-5.9	14.43-5.6	20.05+1.8	18.29
Debt-to-Equity	59.48+51.5	8.01+7.9	0.13+0.1	0.07+0.0	0.05-0.0	0.06
FCF Margin	-180.5%+95.6pp	-276.1%-91.5pp	-184.6%+64.0pp	-248.7%+66.7pp	-315.3%+939.3pp	-1254.7%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	59.2%+11.1pp	48.1%-29.7pp	77.8%+127.2pp	-49.4%-109.4pp	60.0%+4.4pp	55.6%+6.1pp	49.5%+2.1pp	47.4%
Operating Margin	-185.2%+97.0pp	-282.2%+230.5pp	-512.7%+613.5pp	-1126.2%-1050.4pp	-75.7%+346.8pp	-422.6%+176.6pp	-599.2%-498.7pp	-100.5%
Net Margin	-186.0%+182.3pp	-368.3%-382.5pp	14.2%+3138.5pp	-3124.3%-3047.6pp	-76.6%+339.9pp	-416.6%+150.0pp	-566.5%-467.9pp	-98.6%
Return on Equity	31.1%	N/A	4.3%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-15.2%+8.7pp	-23.9%-24.5pp	0.6%+65.2pp	-64.6%-55.8pp	-8.8%+7.4pp	-16.2%-1.4pp	-14.8%-3.2pp	-11.6%
Current Ratio	7.12+1.5	5.65+4.7	0.98+0.1	0.90-1.5	2.39-0.1	2.53-4.4	6.97-1.5	8.51
Debt-to-Equity	0.29-0.0	0.33-5.7	6.00-2.0	8.01+7.5	0.54-0.0	0.56+0.4	0.16+0.0	0.13
FCF Margin	-181.1%+11.2pp	-192.3%+209.1pp	-401.4%+257.6pp	-659.1%-322.8pp	-336.2%-522.6pp	186.4%+619.8pp	-433.5%-332.4pp	-101.1%

Note: The current ratio is below 1.0 (0.79), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Wrap Technologies Inc's annual revenue?

Wrap Technologies Inc (WRAP) reported $4.5M in total revenue for fiscal year 2024. This represents a -26.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Wrap Technologies Inc's revenue growing?

Wrap Technologies Inc (WRAP) revenue declined by 26.5% year-over-year, from $6.1M to $4.5M in fiscal year 2024.

Is Wrap Technologies Inc profitable?

No, Wrap Technologies Inc (WRAP) reported a net income of -$5.9M in fiscal year 2024, with a net profit margin of -130.4%.

What is Wrap Technologies Inc's earnings per share (EPS)?

Wrap Technologies Inc (WRAP) reported diluted earnings per share of $-0.16 for fiscal year 2024. This represents a 77.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Wrap Technologies Inc's EBITDA?

Wrap Technologies Inc (WRAP) had EBITDA of -$14.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Wrap Technologies Inc's gross margin?

Wrap Technologies Inc (WRAP) had a gross margin of 54.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Wrap Technologies Inc's operating margin?

Wrap Technologies Inc (WRAP) had an operating margin of -345.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Wrap Technologies Inc's net profit margin?

Wrap Technologies Inc (WRAP) had a net profit margin of -130.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Wrap Technologies Inc's free cash flow?

Wrap Technologies Inc (WRAP) generated -$8.1M in free cash flow during fiscal year 2024. This represents a 51.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Wrap Technologies Inc's operating cash flow?

Wrap Technologies Inc (WRAP) generated -$8.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Wrap Technologies Inc's total assets?

Wrap Technologies Inc (WRAP) had $15.1M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Wrap Technologies Inc's capital expenditures?

Wrap Technologies Inc (WRAP) invested $12K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Wrap Technologies Inc spend on research and development?

Wrap Technologies Inc (WRAP) invested $2.3M in research and development during fiscal year 2024.

How many shares does Wrap Technologies Inc have outstanding?

Wrap Technologies Inc (WRAP) had 47M shares outstanding as of fiscal year 2024.

What is Wrap Technologies Inc's current ratio?

Wrap Technologies Inc (WRAP) had a current ratio of 0.79 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Wrap Technologies Inc's debt-to-equity ratio?

Wrap Technologies Inc (WRAP) had a debt-to-equity ratio of 59.48 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Wrap Technologies Inc's return on assets (ROA)?

Wrap Technologies Inc (WRAP) had a return on assets of -38.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Wrap Technologies Inc's cash runway?

Based on fiscal year 2024 data, Wrap Technologies Inc (WRAP) had $3.6M in cash against an annual operating cash burn of $8.1M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Wrap Technologies Inc's Piotroski F-Score?

Wrap Technologies Inc (WRAP) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Wrap Technologies Inc's earnings high quality?

Wrap Technologies Inc (WRAP) has an earnings quality ratio of 1.38x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Wrap Technologies Inc?

Wrap Technologies Inc (WRAP) scores 2 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.