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 (NASDAQ: WRAP) announced the relocation of its manufacturing and distribution facility to Virginia, marking a strategic expansion of its public safety solutions business. The new 20,000-square-foot facility will centralize production of BolaWrap® and Wrap Reality™ platforms, while housing R&D zones for AR, VR, and integrated public safety devices. The $4.1 million project, supported by Virginia's government, aims to create over 120 new jobs and establish a professional services division focused on training and customer support. The company currently partners with over 40 agencies in Virginia, including major law enforcement departments.
Wrap Technologies (NASDAQ: WRAP) reported significant financial improvements in Q3 2024, with operating expenses reduced by 22% year-over-year to $3.9 million from $4.9 million. The company achieved major cash flow improvements, with net cash used in operations decreasing by $6.0 million to $6.9 million for the nine months ended September 30, 2024. Q3 revenue was $593 thousand, with year-to-date revenue at $3.6 million. The company is focusing on monetizing $25 million in finished goods inventory and developing an integrated technology-as-a-service solution, anticipated to launch in Q1 2025.
Wrap Technologies, Inc. (NASDAQ: WRAP), a global leader in innovative public safety solutions, has regained compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic reporting. The company received written notice from Nasdaq confirming this compliance, and the matter is now considered closed.
Importantly, the Form 10-Q financial disclosures contain no "Going Concern" opinion, indicating improved financial stability. Additionally, the company's 2025 Plan is fully funded, suggesting a solid financial foundation for future operations.
Wrap Technologies plans to provide details of its restructuring, vision, and new go-to-market strategy during the upcoming Third Quarter Earnings call, offering investors insight into the company's future direction and operational plans.
Wrap Technologies (NASDAQ: WRAP) has received a notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Q2 2024 Form 10-Q. This follows previous notices for late filings of the 2023 Annual Report and Q1 2024 Form 10-Q. Nasdaq has granted an exception until August 30, 2024, to file the delinquent reports. The company must submit an updated compliance plan by September 3, 2024. Nasdaq may extend the compliance period to October 14, 2024. While there's no immediate effect on WRAP's listing, failure to comply could result in delisting from Nasdaq.
Wrap Technologies (Nasdaq: WRAP) has announced a significant pilot program with the San Francisco Police Department (SFPD). The SFPD will deploy 60 BolaWrap devices to its Field Training/Force Options Unit, joining 50 other California-based law enforcement agencies in adopting this innovative de-escalation tool. The BolaWrap is designed to safely restrain non-compliant individuals using a Kevlar cord, potentially reducing the need for more forceful interventions.
SFPD officers will undergo comprehensive training in July 2024 to effectively integrate the BolaWrap into their operations. This initiative aims to address the increasing number of mental health-related calls and support the advancement of community policing tactics. Wrap Technologies currently supports over 1,000 agencies across the US and more than 60 countries worldwide with its BolaWrap device.
Wrap Technologies, a leader in de-escalation tools, has addressed its audit and NASDAQ compliance issues, engaging HTL as new auditors and submitting a compliance plan to NASDAQ. The company has reduced operational expenses significantly, from $2.5 million to $700,000 per month by the end of 2024, a 72% reduction. Wrap is refocusing on customer engagement, product delivery, and use of force data capture. Their key product, the BolaWrap, is positioned to meet law enforcement's de-escalation needs amid increasing public scrutiny. The company aims to transform public safety with its non-lethal devices and training programs.
Wrap Technologies (Nasdaq: WRAP) announced it has received a non-compliance notice from Nasdaq for failing to file its Quarterly Report on Form 10-Q for Q1 2024 and its Annual Report on Form 10-K for 2023. The company has until June 17, 2024, to submit a compliance plan to Nasdaq. If accepted, Wrap Technologies may be granted up to 180 days to file both reports. Failure to comply could result in delisting from Nasdaq. The notification currently has no immediate impact on WRAP's stock listing.
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