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), 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.
Wrap Technologies (Nasdaq: WRAP) will host a Zoom video webcast on October 28, 2021, at 4:30 p.m. Eastern to discuss its third-quarter financial results for the period ending September 30, 2021. The webcast will feature CEO Tom Smith, CFO Jim Barnes, and VP of Investor Relations Paul Manley. A question-and-answer session will follow the presentation. Interested participants can register via the registration link.
Wrap Technologies, Inc. (WRAP), a leader in public safety technology, launched the BolaWrap 150 Remote Restraint device on October 12, 2021. This new device, an upgrade from the BolaWrap 100, features electronic deployment, significantly improved battery life, and enhanced user safety mechanisms. Over 600 agencies globally currently utilize BolaWrap devices. The BolaWrap 150 is designed to facilitate safer law enforcement practices by allowing officers to restrain subjects from a distance without causing injury, further establishing WRAP's position in the public safety market.
WRAP Technologies will present its BolaWrap remote restraint device and virtual reality training technology on October 7, 2021, at 11:15 AM ET during Benzinga’s ‘All Access’ Show. The company, recognized as one of eight 'Rising Stars', aims to showcase its innovative approach to public safety. CEO Tom Smith will discuss how the BolaWrap aids law enforcement in safely detaining suspects, reducing injury risks. The presentation can be accessed via this webcast link.
Wrap Technologies, Inc. (WRAP) will host a live webcast on October 12, 2021, at 1:00 PM ET to unveil its next-generation BolaWrap device. CEO Tom Smith and VP of Training Mario Knapp will present the latest developments in the BolaWrap product family. Interested parties can register for the event. Prior to the webcast, WRAP will provide early information about the new device through its website and social media channels. Wrap Technologies focuses on public safety technologies and aims to enhance community protection through innovation.
Wrap Technologies (WRAP) announced ongoing success with its BolaWrap device used in law enforcement. Recent deployments by the Glenwood Springs Police Department and LaGrange Police Department showcased effective outcomes in real situations, enhancing officer safety and compliance from subjects. Over 600 agencies in the U.S. and 44 countries now utilize BolaWrap, demonstrating increased confidence in its ability to minimize the need for higher force levels. CEO Tom Smith highlighted the growing adoption and positive impact of the device on public safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) will participate in two investor conferences in October 2021. CEO Tom Smith will present at the Lytham Partners Fall Investor Conference on October 5 from 2:20-2:25 PM ET. Interested parties can register via the provided webcast link. Additionally, WRAP will be present at the LD Micro Main Event on October 12 from 12:00-12:30 PM PT. For registration, visit this link.