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Sep 30, 2021
Wrap Technologies Q3 2021 Earnings Report
Wrap Technologies reported a 79% revenue increase compared to the prior year's third quarter, along with the launch of the BolaWrap 150.
Key Takeaways
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.
Net Revenues of $1.8 million, growth of 79% over prior year Q3
Gross Margin of 39% compared with 32% for prior year Q3
Launched upgraded version of flagship remote restraint product – the BolaWrap 150
Trained agencies increased to 940, growth of 109% from December 31, 2020
Wrap Technologies
Wrap Technologies
Forward Guidance
The company anticipates near-term headwinds to growth due to limited international travel and the market's awareness and acceptance of the BolaWrap 150.