Wrap Technologies Inc
NASDAQ:WRAP
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Wrap Technologies Inc
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Wrap Technologies Inc
Wrap Technologies makes public-safety tools designed to help officers restrain people without using a gun, baton, or chemical spray. Its main product is the BolaWrap, a handheld device that shoots a Kevlar tether to briefly entangle a person from a distance. The company also sells related training, accessories, and software used by police and security teams to learn and document how the tools are deployed. Its customers are mainly police departments, sheriffs’ offices, corrections agencies, and some private security groups. Wrap earns money by selling the devices, consumable parts, and training services, and by supporting agencies that want a less-lethal option for close encounters. In practice, it sits in the public-safety equipment market as a specialist supplier rather than a broad law-enforcement vendor. What makes the business different is that it is focused on one specific job: giving officers a fast way to control a situation at a distance while reducing the need for hands-on struggle. That narrows its market, but it also gives Wrap a clear role in the less-lethal category, where agencies look for tools that fit their use-of-force policies and training standards.
Wrap Technologies makes public-safety tools designed to help officers restrain people without using a gun, baton, or chemical spray. Its main product is the BolaWrap, a handheld device that shoots a Kevlar tether to briefly entangle a person from a distance. The company also sells related training, accessories, and software used by police and security teams to learn and document how the tools are deployed.
Its customers are mainly police departments, sheriffs’ offices, corrections agencies, and some private security groups. Wrap earns money by selling the devices, consumable parts, and training services, and by supporting agencies that want a less-lethal option for close encounters. In practice, it sits in the public-safety equipment market as a specialist supplier rather than a broad law-enforcement vendor.
What makes the business different is that it is focused on one specific job: giving officers a fast way to control a situation at a distance while reducing the need for hands-on struggle. That narrows its market, but it also gives Wrap a clear role in the less-lethal category, where agencies look for tools that fit their use-of-force policies and training standards.
Revenue growth: First-quarter revenue rose 45% year over year to $1.1 million, with product sales up 186% as BolaWrap demand and reorders increased.
Pipeline confidence: Management said its conviction in its 100% full-year revenue growth target strengthened after seeing Q1 momentum continue into Q2.
Mix shift: Gross margin fell to 62% from 78% because hardware sales made up more of the quarter; management expects margins to improve as subscriptions and services grow.
Bookings: Bookings reached $3.2 million, which management pointed to as evidence that the pipeline is starting to convert.
Capital plans: In Q&A, the CEO said the company is looking to access better-quality financing options as fundamentals improve and confirmed it is searching for a CFO.
