Wrap Technologies Earnings Reports

Wrap Technologies announced a 22% year-over-year reduction in operating expenses, alongside efforts to monetize its $25 million finished goods inventory. Revenue for the quarter was $593 thousand. The company is focused on developing integrated solutions and expanding its market reach.

Wrap Technologies reported record quarterly revenue in Q3 2023, driven by strong international demand, particularly from the North African region, and a large-scale deployment order for BolaWrap 150 in the domestic Mid-Atlantic sector. The company also saw a second consecutive record quarter for Wrap Reality sales and integrated Wrap Intrensic into its Body-Worn Camera and Digital Evidence Management portfolio.

Wrap Technologies reported a 3% increase in net revenue to $1.20 million, with gross profit increasing by 46% to $0.67 million. The company also announced the acquisition of Intrensic, a digital evidence management and body-worn camera company, to expand its solutions portfolio.

Wrap Technologies reported a 47% increase in net revenue to $3.59 million for Q4 2022, driven by record deals in the Americas and EMEA region. Gross profit improved to $1.70 million, and the net loss improved by 33% to $(3.54) million. The company is targeting quarterly adjusted EBITDA break-even by the end of 2023 and profitability by the end of 2024.

Wrap Technologies reported a 6% decrease in net revenue to $1.70 million compared to the prior year period, but Americas sales grew 36% to $1.48 million. Gross profit improved to $0.91 million with a gross margin of 54%. The company's net loss improved 35% to $(3.87) million, and operating expenses decreased by $1.91 million.

Wrap Technologies reported net revenues of $1.2 million for Q2 2022, a decrease compared to $1.9 million in Q2 2021. Gross profit was $0.5 million, resulting in a 39% gross margin. Net loss per share was ($0.12), compared to ($0.20) in Q2 2021. The company is focused on a multi-year strategic roadmap for growth, profitability, and enhanced value creation.

Wrap Technologies announced Q3 2021 results, featuring a 79% increase in revenue compared to Q3 2020. The company launched an upgraded BolaWrap 150 and collaborated with Amazon Web Services. They also reported increases in both trained agencies and certified officer instructors.

Wrap Technologies reported a strong fourth quarter with a 464% increase in net sales compared to the same period last year, driven by global expansion and increased adoption of its de-escalation solutions. The company also completed the acquisition of NSENA, Inc. to enhance its training capabilities.