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.
Wrap Technologies, Inc. develops public safety technology and non-lethal response products for law enforcement, security and related public safety organizations. Company news commonly covers BolaWrap® remote restraint devices, WrapReality™ immersive training deployments, WrapVision digital evidence capabilities, customer purchase orders, contract renewals, and international partner activity.
Recurring updates also address WRAP's broader Non-Lethal Response™ platform, including training programs, policy-centered implementation, healthcare and campus security applications, and research initiatives tied to drone and counter-drone public safety capabilities. Financial-result announcements and operating updates frame product sales, technology-enabled services, market expansion and cost management.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the Arizona Municipal Risk Retention Pool (AMRRP) has unanimously approved funding to help member police agencies procure BolaWrap devices, covering 50% of the purchase price. AMRRP represents over 60 agencies with over 1,800 police officers. The Board believes that BolaWrap's technology could reduce risks and liability in police operations. CEO Tom Smith highlighted the growing demand for alternative policing methods and improved training solutions, emphasizing WRAP's commitment to innovative public safety solutions.
TEMPE, Ariz., Dec. 06, 2021 - Wrap Technologies, a leader in public safety technologies, announced its President and CEO, Tom Smith, will present at the Benzinga Global Small Cap Conference. The virtual event is scheduled for December 8-9, 2021, with Smith's presentation on December 9 at 11:55 am ET. WRAP management will also conduct one-on-one meetings until December 15. The conference focuses on small cap executives and features educational sessions on various industries. For more information, visit benzinga.com.
Wrap Technologies, Inc. (Nasdaq: WRAP) will present at the virtual Inflection Partners Fall Investment Conference on November 17, 2021, at 2:15 pm ET. CEO Tom Smith and VP of Investor Relations Paul Manley will represent the company. The conference, taking place on November 16-17, features over 25 companies and supports the Travis Manion Foundation, which aids veterans and their families. Attendees can register online and schedule one-on-one meetings with WRAP management. The company specializes in public safety technologies, including the BolaWrap Remote Restraint device and Wrap Reality training system.
Wrap Technologies (Nasdaq: WRAP) announced that the Royal Canadian Mounted Police (RCMP) has exempted the BolaWrap 150 remote restraint device from being classified as a prohibited device or firearm. This classification comes less than a month after the product's launch and follows the earlier exemption of the BolaWrap 100. Canadian law enforcement, including the Sainte-Anne Police, has begun using the BolaWrap for officers. The company aims to meet training requests from law enforcement across Canada.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the Sainte-Anne Police Department in Manitoba has become the first Canadian agency to utilize the BolaWrap remote restraint device. Following a successful training program, this deployment signifies a key milestone in WRAP's efforts to enhance public safety technologies. The event featured a demonstration attended by various police services, showcasing the BolaWrap's efficacy in safely restraining individuals without resorting to greater force. WRAP’s CEO emphasized the significance of this achievement amidst global operational challenges.
Wrap Technologies (Nasdaq: WRAP) has released new bodycam footage highlighting the successful deployment of its BolaWrap device by the Indianapolis Metro Police Department (IMPD). On October 24, 2021, officers utilized the BolaWrap to safely restrain a noncompliant individual without physical confrontation, marking its second use by the IMPD. President and CEO Tom Smith praised the officers for their effective communication and proactive approach to prevent escalation. The BolaWrap aims to enhance public safety through innovative restraint technologies.
Wrap Technologies, Inc. (Nasdaq: WRAP), a leader in public safety technologies, will present at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 3 PM ET. CEO Tom Smith and VP of Investor Relations Paul Manley will lead the presentation. This event will showcase around 50 technology companies, discussing topics like public safety, cybersecurity, and AI. Wrap is known for its innovative products, including the BolaWrap® Remote Restraint device, aimed at helping law enforcement safely detain individuals. One-on-one meetings with Wrap management will also be available.
Wrap Technologies, Inc. (WRAP) announced an international order for 500 BolaWrap devices and 50,000 cartridges from a distributor servicing a national police agency. The revenue from this order is expected to be recognized in Q4 2021 and Q1 2022. The BolaWrap device, designed for public safety, has been shipped to 50 countries. CEO Tom Smith emphasized the agency's commitment to de-escalation and training, noting the expanding international market.
Wrap Technologies reported third-quarter 2021 net revenues of $1.8 million, reflecting a 79% increase year-over-year. The company launched the BolaWrap 150, its upgraded restraint product, and partnered with Amazon Web Services for its VR training platform. The number of trained agencies rose 109% to 940, with certified instructors increasing 139% to 3,250. Despite a net loss of $5.99 million, the cash reserves remained strong at $39.9 million. The company anticipates challenges due to ongoing pandemic impacts but remains optimistic about future growth.
Wrap Technologies has announced the donation of its Wrap Reality de-escalation training platform to the Frankfort Police Department in Indiana. This marks a pivotal moment as Frankfort PD becomes the first agency in Indiana to utilize this innovative virtual reality simulator. The platform aims to enhance officer training effectively, preparing them for real-life encounters through immersive scenarios. Additionally, WRAP is collaborating with Amazon Web Services to leverage cloud services, further improving training delivery for law enforcement.