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. (WRAP), a leader in public safety technologies, released bodycam footage on March 17, 2021, exhibiting the effective use of its BolaWrap device. The Glenwood Springs Police Department utilized the BolaWrap to safely restrain an individual in crisis, preventing harm to the subject and others. This instance underscores the value of innovative tools in law enforcement. The BolaWrap, designed to restrain without injury, sees growing adoption among agencies. The company emphasizes its commitment to providing effective solutions in public safety.
TEMPE, Ariz., March 23, 2021 - Wrap Technologies (Nasdaq: WRAP) announced that CEO Tom Smith will present at the Q1 Virtual Investor Summit today at 12 pm ET. The event features presentations from CEOs of small and mid-cap companies and opportunities for one-on-one meetings with accredited investors. Smith will discuss the Company’s innovative products, including the BolaWrap® and WRAP Reality™, which aim to enhance public safety. Interested participants can register online to join this immersive investor conference.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced its participation in the 2021 ILEETA Expo, showcasing the BolaWrap and WRAP Reality training platform. The event, held March 23-24, marks a significant return for law enforcement training conferences post-COVID. Attendees will have hands-on opportunities with the BolaWrap and can certify as BolaWrap Instructors through a Train the Trainer Course. The company will exhibit at booth #414, highlighting its commitment to innovative public safety solutions.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced its participation in the Inaugural Emerging Growth Virtual Conference on March 17-18, 2021. CEO Tom Smith will present on March 18, showcasing the company's innovative public safety technologies, including the BolaWrap device designed to safely restrain individuals. Additionally, Smith will engage in a fireside chat with analyst Allen Klee on March 19. WRAP is recognized for its commitment to improving public safety through advanced solutions and comprehensive training platforms.
WRAP Technologies (NASDAQ: WRAP) will join the 4th Annual D.A. Davidson Consumer Growth Conference virtually on March 11, 2021. CEO Tom Smith is set to present at 2:45 PM ET in a fireside chat format led by Managing Director Linda Bolton Weiser. Investors interested in attending can contact their D.A. Davidson representative for more details. WRAP is known for its innovative public safety solutions, including the BolaWrap Remote Restraint device and WRAP Reality training system, aimed at reducing escalation in law enforcement situations.
WRAP Technologies Appoints New CEO and Announces Board Enhancements
On March 8, 2021, WRAP Technologies (NASDAQ: WRAP) appointed Tom Smith as its CEO, moving from interim status. Smith, previously President, boosted sales by 460% in 2020, selling devices to 36 countries. The company plans to add two independent directors within 45 days, reflecting ongoing dialogue with shareholders. Co-founder Scot Cohen praised Smith's experience in public safety. The management change aims to enhance corporate governance and align with WRAP's mission to improve community safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) reported a significant financial performance for 2020. Fourth-quarter net sales reached $1.4 million, a staggering 464% increase year-over-year, with a gross margin of 33%. For the full year, net sales totaled $3.9 million, up 466%, as the company expanded its international presence, selling products to 36 countries. Despite these gains, the company incurred a net loss of $12.6 million for the year. Wrap also highlighted a strong cash position of $41.6 million. The acquisition of NSENA aims to enhance training solutions for law enforcement.
Wrap Technologies (WRAP) announced the deployment of seven new BolaWrap devices by law enforcement agencies in New York, California, Texas, and South Carolina. These deployments, informed to the company in the last two weeks, reflect growing acceptance of BolaWrap as a low-level force option. The President of WRAP, Tom Smith, expressed satisfaction with this trend, noting that many deployments may not be reported to the company. The BolaWrap 100 is designed for safe apprehension of suspects from a distance, aiming to improve policing methods.
Wrap Technologies, Inc. (WRAP) will host a Zoom webcast on March 4, 2021, at 4:30 p.m. Eastern time to discuss its financial and operational results for Q4 and the full year ending December 31, 2020. A press release with these results will be issued before the event. The BolaWrap 100, a product of WRAP, is a patented device designed for modern policing solutions, aiding in safely apprehending individuals from a distance. The device has been used in various cities across the U.S. for de-escalating encounters.
Wrap Technologies, Inc. (WRAP) announced the appointment of Kathleen O’Toole and Sylvia Moir to enhance its public safety technology initiatives. Both retired police chiefs will collaborate on developing a virtual reality training simulator focused on de-escalation, use of force, and officer wellness. O’Toole and Moir bring decades of law enforcement experience and will support research, development, and community engagement. This initiative aligns with WRAP's commitment to innovation in policing and aims to improve officer decision-making and overall public safety.