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. (Nasdaq: WRAP) generates news centered on non-lethal public safety technology, law enforcement adoption, and the evolution of its integrated product ecosystem. As a manufacturer of the BolaWrap 150 non-lethal restraint device, WrapReality immersive VR training, WrapVision body-worn camera and evidence management system, WrapTactics training programs, and CUAS platforms like PAN-DA, MERLIN-Interdictor, and the 1KC Kinetic Anti-Drone Cassette, the company’s announcements often highlight how these offerings are being deployed and expanded.
Investors and public safety professionals following WRAP news will see regular updates on agency deployments and training programs. Recent releases describe Glenwood Springs Police Department, Alliance Police Department, and Rio Grande City Police Department integrating BolaWrap 150 into structured non-lethal response frameworks that combine equipment, policy, and recurring training. These stories provide insight into how agencies position BolaWrap as an early intervention option within their use-of-force policies, especially in encounters involving behavioral-health crises and non-compliant but non-violent individuals.
Wrap also issues news about product development and intellectual property, such as filings for next-generation, shoulder-mounted multi-shot non-lethal response platforms with optional directional sound, high-intensity light, advanced sighting, and selectable engagement modes. Other coverage includes milestones in counter-UAS development, like air-to-air interdiction tests using MERLIN-Interdictor payloads on drone platforms, and partnerships with manufacturing and policy organizations such as K-Form and LETAC.
Financial and corporate governance updates appear through earnings releases and SEC-related announcements, including revenue trends, subscription growth tied to programs like WrapReady and WrapPlus, and capital structure decisions involving preferred stock and warrants. For a consolidated view of these developments, the WRAP news page offers a chronological feed of company press releases and related disclosures that reflect Wrap’s focus on non-lethal response, training, evidence management, and modern defense applications.
Wrap Technologies (WRAP) released new bodycam footage demonstrating a successful deployment of their BolaWrap® device by the Northern York County Regional Police on April 15, 2021. The incident involved a disruptive motel guest, where the BolaWrap effectively de-escalated the situation without causing injury to the subject or officers. Chief David Lash emphasized that the BolaWrap serves as a remote restraint tool, introduced before any use-of-force measures. This marks the first indoor deployment captured on bodycam, showcasing the device's versatility.
Wrap Technologies (Nasdaq: WRAP) announced that BolaWrap has achieved an over 80% effectiveness rate in real-world law enforcement applications based on the first 50 uses reported. This device allows police to detain individuals safely without excessive force, thereby reducing potential injuries and civil liabilities. Officials from various police departments praised BolaWrap’s utility and its role in enhancing community trust. The company aims to leverage the positive outcomes to expand its market presence in public safety technologies.
On May 4, 2021, Wrap Technologies, Inc. (WRAP) announced the approval of a one-year extension for its BolaWrap Pilot Program by the Los Angeles Board of Police Commissioners. The extension follows a report highlighting the need for further evaluation due to an insufficient sample size from the initial program. The BolaWrap device aims to assist law enforcement in safely detaining individuals without injury. The pilot will continue in LAPD's Hollywood and Central divisions, where the BolaWrap may be most beneficial.
Wrap Technologies reported a remarkable 123% year-over-year revenue growth, reaching $1.5 million for Q1 2021. Despite challenges from the pandemic, the company saw a 222% increase in trained agencies, totaling 628, and a 172% rise in certified officer instructors, now at 1,961. Gross margin improved to 39%, up from 33% in Q4 2020. However, SG&A expenses surged to $5 million, primarily due to increased compensation and public reporting costs. The company aims to address market demands with its training platform while navigating expected near-term growth challenges.
Wrap Technologies (Nasdaq: WRAP) announced a collaboration with Wheaton College to utilize the WRAP Reality training platform for de-escalation training. This partnership, led by Professor David C. Iglesias, aims to align training programs with community values and enhance policing practices. CEO Tom Smith emphasized the collaboration's potential to improve officer preparedness in real-life situations. The company continues to innovate in public safety technologies, notably with its BolaWrap device and immersive training solutions.
Wrap Technologies (NASDAQ: WRAP) announced a successful BolaWrap deployment during a police response in Mountlake Terrace, Washington, on April 15, 2021. The device was effectively used to restrain a violent suspect without injury, showcasing its potential to enhance public safety. Chief Strategy Officer Mike Rothans highlighted the importance of BolaWrap in de-escalating dangerous situations, providing law enforcement with a safer approach. The company continues to focus on innovative public safety solutions, including the BolaWrap and its immersive WRAP Reality training system.
Wrap Technologies, Inc. (WRAP) announced the addition of four independent members to its Board of Directors, strengthening its governance and expertise in public safety technologies. New members include Jeff Kukowski, CEO of Cloudbolt Software; Kimberly Sentovich, a veteran executive from Walmart; Kevin Sherman, Interim CEO of Tractor Beverages; and TJ Kennedy, former CEO of Qumu, Inc. The Board now consists of nine members, with seven being independent. This strategic move aims to enhance the company's growth trajectory and operational capabilities as it serves the law enforcement sector.
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Wrap Technologies, Inc. (WRAP) reported nine new BolaWrap deployments across eight states in March and April 2021. The BolaWrap, a remote restraint device, was effectively used by law enforcement, including Fruitland Police Department in Maryland and Mountain View Police Department in California, to safely manage crisis situations without escalating violence. The company highlights that many deployments go unreported as agencies view them as low use of force. This trend signals growing adoption of WRAP's safety technologies in public safety operations.
Wrap Technologies, Inc. (WRAP) will host a Zoom webcast on April 29, 2021, at 4:30 p.m. Eastern Time, to discuss its financial and operational results for Q1 2021. A press release containing these results will precede the webcast. The presentation will include a Q&A session, and interested participants can RSVP via a provided link. WRAP, known for its BolaWrap® Remote Restraint device and WRAP Reality training platform, focuses on innovative public safety technologies. More details can be found on the company's website.