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, Inc. (Nasdaq: WRAP) reported its Q2 2022 results, highlighting a net revenue of $1.2 million, down from $1.9 million year-over-year. The company achieved a gross profit of $0.5 million, reflecting a 39% gross margin, compared to a loss in Q2 2021. Operating expenses decreased by 32% to $5.2 million. Trained law enforcement agencies grew by 41% to over 1,130. CEO TJ Kennedy emphasized a strategic roadmap targeting profitability by late 2024 and a break-even cash flow by the end of 2023, leveraging the new BolaWrap 150 product.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a successful deployment of its BolaWrap remote restraint device by the Columbia County Sheriff’s Office on January 3, 2022. Officers used the device to safely detain a noncompliant subject during adverse weather conditions without injuries to staff or the subject. Sheriff Brian Pixley praised the BolaWrap for aiding in de-escalation, while CEO TJ Kennedy emphasized its role in supporting law enforcement. This incident reinforces BolaWrap's effectiveness as a non-lethal tool in public safety operations.
Wrap Technologies, Inc. (Nasdaq: WRAP) will host a Zoom webcast on August 10, 2022, at 5:00 p.m. Eastern time to discuss its Q2 financial and operational results for the period ending June 30, 2022. The results will be released shortly after market close that day. The call will feature CEO TJ Kennedy, President Kevin Mullins, CFO Chris DeAlmeida, and VP of Investor Relations Paul Manley. Investors can join the event via the provided webcast link or the company's investor relations website.
Wrap Technologies, Inc. (Nasdaq: WRAP) has announced Chris DeAlmeida as the new Chief Financial Officer, succeeding Jim Barnes, who is retiring. DeAlmeida brings extensive experience in financial planning, M&A, and improving profit margins, having previously served as CFO at Encore and Orion Group Holdings. His leadership is expected to enhance Wrap's strategic roadmap as the company continues to innovate in public safety technologies. CEO TJ Kennedy expressed optimism about DeAlmeida's contributions to the company's future growth.
Wrap Technologies, Inc. (Nasdaq: WRAP) announced a sale of its Societal Reentry Virtual Reality Enterprise Platform to the Pennsylvania Department of Corrections. This innovative software aims to assist incarcerated parents in preparing for reunification with their children through immersive VR training. The platform offers customizable scenarios in a 360-degree VR environment, potentially enhancing traditional training methods. Pennsylvania State University will evaluate the effectiveness of this program. CEO TJ Kennedy emphasized the positive impact on reentry and societal issues.
Wrap Technologies, Inc. (Nasdaq: WRAP) has released new body cam footage showcasing the effective use of its BolaWrap 150 device by Avon Police in a knife-related incident. On June 30, 2022, officers were able to safely detain a threatening individual without injury using the BolaWrap, which prevented the need for higher levels of force. Chief Greg Daly highlighted the device's role in de-escalating potentially violent situations. CEO TJ Kennedy praised law enforcement's commitment to innovative safety solutions, emphasizing the BolaWrap's effectiveness in public safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) has announced the sale of its Societal Reentry Virtual Reality Software to a corrections agency in Ohio, marking a milestone in its expansion into virtual reality software markets. This software aims to teach coping skills to incarcerated individuals through immersive training. CEO TJ Kennedy expressed optimism about increased adoption by corrections agencies, highlighting the program's potential in aiding re-integration into society.
Wrap Technologies, Inc. (Nasdaq: WRAP) highlights a successful deployment of its BolaWrap Remote Restraint device on June 3, 2022. In a domestic dispute, officers from Northern York County Regional Police utilized the BolaWrap to safely detain a volatile subject without physical confrontation. The incident showcased the effectiveness of the BolaWrap, with no injuries reported to either the officers or the subject. Chief David Lash praised the device's capacity for de-escalation, emphasizing the importance of training and proper usage. The footage of the incident is available for viewing online.
Wrap Technologies, Inc. (Nasdaq: WRAP) will hold its virtual-only 2022 annual meeting of stockholders on June 23, 2022, at 9:00 A.M. PT. Stockholders of record as of April 25, 2022, can attend and participate via a provided link or by phone. The company encourages early voting by today's 5:00 P.M. PT deadline. Additional details are available in the definitive proxy statement filed on April 30, 2022. Wrap specializes in public safety technologies, offering products like the BolaWrap® Remote Restraint device and the Wrap Reality training system, aimed at enhancing law enforcement operations.
Wrap Technologies (Nasdaq: WRAP) has received an official endorsement from the National De-escalation Training Center (NDTC) for its BolaWrap Remote Restraint technology. The NDTC, a leader in law enforcement training, recognizes BolaWrap as a significant advancement in safe de-escalation practices. This endorsement highlights Wrap's commitment to innovation in public safety, as BolaWrap helps law enforcement officers safely restrain individuals from a distance, reducing the necessity for force. Wrap’s CEO, TJ Kennedy, expressed pride in the endorsement by the top source for de-escalation training.
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