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. (WRAP) delivers innovative public safety solutions through its BolaWrap remote restraint system, VR training platforms, and AI-powered evidence management tools. This news hub provides investors and public safety professionals with essential updates on the company’s operational milestones and technological advancements.
Access real-time updates on earnings reports, product certifications, and strategic partnerships. Track developments in WRAP’s law enforcement solutions including new market expansions, training program launches, and enhancements to its WrapAI evidence management platform.
Key content includes quarterly financial results, regulatory filings, product deployment announcements, and executive leadership updates. All press releases are sourced directly from official corporate communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to WRAP’s latest developments in de-escalation technologies and digital policing solutions. Check regularly for updates on patents, international distribution agreements, and field implementation case studies.
Wrap Technologies (Nasdaq: WRAP) announced the appointment of Kevin Mullins as CEO, effective immediately, following the resignation of TJ Kennedy. Mullins, who has been with the company since April 2022, aims to enhance operational efficiency and accelerate profitable growth.
The preliminary estimated revenue for Q1 2023 is between $0.60 million and $0.70 million, a significant decline from $1.6 million in the same quarter last year, attributed to delayed customer orders. However, operating expenses are projected to decrease to between $4.0 million and $4.5 million from $6.1 million, reflecting successful cost-cutting initiatives. Despite a net loss estimate of $3.7 million to $4.3 million, improved gross margins are expected.
The company plans to implement better operational efficiencies and may achieve a quarterly reduction in operating expenses of $1.5 million, aiming for sustained profitability.
Wrap Technologies, Inc (Nasdaq: WRAP) is set to host its third Investor Insights webcast on March 23, 2023, at 10:00 AM ET. The event will recap the Company's participation in the World Police Summit and will include a Q&A session where investors can submit questions until 8:00 PM ET on March 22, 2023.
Wrap Technologies specializes in innovative public safety solutions, featuring products like the BolaWrap® Remote Restraint Device and Wrap Reality™. Investors can join the webcast 5-10 minutes early through the Company’s investor relations website or via the provided registration link.
Wrap Technologies, Inc. reported record revenues for Q4 2022, achieving $3.59 million, a 47% increase year-over-year. This growth was primarily driven by substantial sales of the BolaWrap 150, including a historic $1.5 million order. The company improved gross profit by 130% to $1.70 million, aided by enhanced pricing and production efficiencies. Wrap plans to achieve quarterly adjusted EBITDA break-even by the end of 2023 and profitability by 2024. However, it anticipates a Q1 revenue decline, influenced by seasonal procurement cycles. As of the end of 2022, cash reserves stood at $19.28 million.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a video webcast on March 1, 2023, at 5:00 p.m. ET, to discuss its financial and operational results for Q4 and the full year ending December 31, 2022. The results will be released prior to the call. Interested participants can submit questions until February 24, 2023, at 8:00 p.m. ET. Wrap is known for its innovative public safety solutions, including the BolaWrap® Remote Restraint Device and Wrap Reality™, a VR training platform for law enforcement. The company aims to provide safer policing tools, focusing on non-pain compliance and effective training for first responders.
Wrap Technologies, Inc. (Nasdaq: WRAP) released body-worn camera footage from the Alton, Texas Police Department, showcasing the effective use of their BolaWrap® Remote Restraint device during a domestic dispute. The device enabled officers to safely apprehend an unarmed suspect without injury. Alton Police praised the BolaWrap® for preventing further escalation, emphasizing its potential in high-stress situations. CEO TJ Kennedy highlighted this incident as evidence of the BolaWrap®’s capacity to enhance public safety and reduce the need for forceful tactics. Wrap continues to lead in innovative solutions for law enforcement and public safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) has introduced its Use of Force Reduction Guarantee, an industry first aimed at decreasing law enforcement's use of force. The program promises that its BolaWrap® device will result in a 10% or greater reduction in force used by agencies, or the company will buy back the devices. This initiative aligns with the recent push for safer policing methods highlighted by President Biden. Wrap's CEO, TJ Kennedy, emphasized the program's aim to foster safer policing outcomes and change law enforcement dynamics. The BolaWrap® device is designed to enable safe detentions without pain or injury.
Wrap Technologies, Inc. (Nasdaq: WRAP) will host its second Investor Insights webcast on February 15, 2023, at 3:00 p.m. Eastern time. The event will cover recent outcomes from the use of the company's BolaWrap® body camera. Investors can submit questions related to the webinar until 8:00 p.m. Eastern time on February 14, 2023. Interested participants are encouraged to join the webcast 5-10 minutes early using the webcast link. A recording will be available post-event on the company's investor relations site.
Wrap Technologies (Nasdaq: WRAP) reported a successful deployment of its BolaWrap® Remote Restraint device by the Columbia Missouri Police Department. The incident involved a suspect in a behavioral health crisis who was safely taken into custody without harm. Assistant Chief Brian Richenberger praised the BolaWrap® for allowing officers to manage the situation without pain-inducing methods. CEO TJ Kennedy commended the officers for their professional response, highlighting the device's potential to de-escalate situations. Wrap is committed to providing innovative solutions for safer policing, enhancing public safety through its products and immersive training programs.
TEMPE, Ariz., Jan. 31, 2023 – Wrap Technologies (Nasdaq: WRAP) will conduct an investor webinar on February 1, 2023 at 5:00 p.m. Eastern time, focusing on its BolaWrap® tool. The session will discuss its role in non-pain compliance and review a body camera video. Management will present for 30 minutes, followed by a Q&A session. Participants can submit questions in advance until 8:00 p.m. Eastern time on January 31. The webinar can be accessed here.
Wrap Technologies, Inc. (Nasdaq: WRAP) has been invited to present at Lake Street’s Take Aim Conference, taking place virtually on January 25-26, 2023. Management will conduct one-on-one and group calls with investors on January 26. The conference aims to showcase investment opportunities in consumer spaces, allowing institutional investors to engage with executives from various companies.
Wrap is recognized for its innovative public safety technologies, including the BolaWrap Remote Restraint Device and WRAP Reality, a virtual reality training system for law enforcement. These products promote non-pain compliance solutions to enhance public safety practices.
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