Wrap Technologies Inc Stock Price, News & Analysis

Wrap Technologies, Inc. (Nasdaq: WRAP) released body-worn camera footage from the Alton, Texas Police Department, showcasing the effective use of their BolaWrap® Remote Restraint device during a domestic dispute. The device enabled officers to safely apprehend an unarmed suspect without injury. Alton Police praised the BolaWrap® for preventing further escalation, emphasizing its potential in high-stress situations. CEO TJ Kennedy highlighted this incident as evidence of the BolaWrap®’s capacity to enhance public safety and reduce the need for forceful tactics. Wrap continues to lead in innovative solutions for law enforcement and public safety.

Wrap Technologies, Inc. (Nasdaq: WRAP) has introduced its Use of Force Reduction Guarantee, an industry first aimed at decreasing law enforcement's use of force. The program promises that its BolaWrap® device will result in a 10% or greater reduction in force used by agencies, or the company will buy back the devices. This initiative aligns with the recent push for safer policing methods highlighted by President Biden. Wrap's CEO, TJ Kennedy, emphasized the program's aim to foster safer policing outcomes and change law enforcement dynamics. The BolaWrap® device is designed to enable safe detentions without pain or injury.

Wrap Technologies, Inc. (Nasdaq: WRAP) will host its second Investor Insights webcast on February 15, 2023, at 3:00 p.m. Eastern time. The event will cover recent outcomes from the use of the company's BolaWrap^® body camera. Investors can submit questions related to the webinar until 8:00 p.m. Eastern time on February 14, 2023. Interested participants are encouraged to join the webcast 5-10 minutes early using the webcast link. A recording will be available post-event on the company's investor relations site.

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.