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Sep 30, 2024
Wrap Technologies Q3 2024 Earnings Report
Wrap Technologies reported a decrease in operating expenses and focused on monetizing inventory.
Key Takeaways
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.
Operating expenses decreased by 22% year-over-year to $3.9 million.
The company is focused on monetizing a $25 million finished goods inventory.
Net cash used in operations decreased by $6.0 million for the nine months ended September 30, 2024.
Revenue was $593 thousand for the quarter ended September 30, 2024.
Wrap Technologies
Wrap Technologies
Forward Guidance
Wrap Technologies anticipates launching a trusted service provider solution in Q1 2025 and is developing a global go-to-market plan.
Positive Outlook
- Integrated technology-as-a-service solutions tailored to the needs of public safety agencies.
- Commitment to innovation and market expansion.
- Emphasis on a “Made in America” supply chain.
- Focus on data security and compliance to meet federal standards and requirements.
- Developing a trusted service provider solution anticipated to launch in Q1 2025.