MIAMI, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in non-lethal response and public-safety technology solutions, today announced that the Alliance Police Department (“Alliance PD”) has partnered with Wrap to purchase and deploy BolaWrap® 150 devices across the department and is expected to become the first reported municipal police department in the State of Nebraska to equip every sworn officer with an immediate non-lethal response op ...

Core Viewpoint - Wrap Technologies, Inc. has announced that the Rio Grande City Police Department in Texas will implement the BolaWrap® 150 device and the WrapReady™ program to enhance non-lethal response capabilities amid increasing operational pressures along the U.S.–Mexico border [1][4]. Group 1: Agreement Details - The agreement includes full WrapReady onboarding for 12 officers, covering equipment, multi-year support, and instructor-level certification, marking the first deployment in a Texas border community [2]. - The WrapReady program aims to reduce friction in deployment, training, and long-term utilization of the BolaWrap® ecosystem, focusing on safer engagements and continuous development of agency tactics and policy [4][5]. Group 2: Operational Context - Rio Grande City is located in a high-traffic area of the U.S.-Mexico border, where local agencies frequently engage in multi-jurisdictional operations related to narcotics interdiction, human smuggling, and mental health crises, necessitating non-lethal response tools [3]. - The adoption of the WrapReady program reflects a national trend among law enforcement agencies re-evaluating pain-compliance tools and opting for non-lethal options like BolaWrap as first-resort tools in complex encounters [4]. Group 3: Product Overview - Wrap Technologies offers a comprehensive public safety portfolio, including the BolaWrap 150 device, WrapReality™ training platform, and WrapVision™ body-worn camera system, all designed to enhance public safety and operational efficiency [6][7]. - The BolaWrap 150 is a non-pain-based compliance tool that helps officers manage non-compliant subjects without resorting to higher-force options, thereby reducing injury risks [9].

Group 1 - Wall Street anticipates Zoom Communications Inc (NASDAQ:ZM) to report quarterly earnings of $1.44 per share on revenue of $1.21 billion [2] - Lee Enterprises, Inc. (NYSE:LEE) announced the resignation of CFO Tim Millage, effective February 28, 2026, with shares gaining 1.6% to close at $4.56 [2] - Keysight Technologies Inc (NYSE:KEYS) is expected to post quarterly earnings of $1.83 per share on revenue of $1.38 billion, with shares gaining 1.8% to close at $172.71 [2] - Wrap Technologies Inc (NASDAQ:WRAP) filed for a mixed shelf offering of up to $200 million, with shares gaining 6.6% to close at $2.11 [2] - Agilent Technologies Inc (NYSE:A) is expected to report quarterly earnings of $1.58 per share on revenue of $1.83 billion, with shares gaining 4.3% to close at $151.25 [2]

Core Insights - Wrap Technologies, Inc. has announced a strategic partnership with K-Form Inc. to enhance its supply chain and support scalable production of non-lethal tools and future autonomous platforms [1][2][3] Group 1: Partnership Details - K-Form will provide precision design, prototyping, and production support for Wrap's product ecosystem, including the BolaWrap® 150 and WrapVision body-worn camera system [2][4] - The partnership aims to strengthen Wrap's manufacturing base in the U.S. and expand the capacity of its new manufacturing hub in Southwestern Virginia [3][4] Group 2: Product Offerings - Wrap's product portfolio includes the BolaWrap 150, WrapReality immersive training platform, and WrapVision body-worn camera system, all designed to enhance public safety and defense applications [5][6] - The BolaWrap 150 is a non-lethal device that aids law enforcement in managing non-compliant subjects without resorting to higher-force options, currently used by over 1,000 agencies in the U.S. and 60 countries [6] Group 3: Technological Advancements - WrapReality™ is a VR training simulator that provides first responders with realistic scenarios to improve decision-making under pressure [7][8] - WrapVision is designed for efficiency and security, capturing and managing digital evidence while ensuring compliance with modern law enforcement demands [9][10]

Product Development and Innovation - The company launched WrapVision, a North American-made body-worn camera and digital evidence management platform, in August 2025[133]. - The company expanded its product portfolio with the introduction of WrapTactics, a digital pre-escalation training platform, and advanced several counter-unmanned aircraft system initiatives[119]. - The company focuses significant resources on research and development to enhance its products and introduce new offerings[129]. - The company anticipates continued innovation in public safety technology and the development of new products to meet diverse customer requirements[155]. Market Presence and Sales - The company has shipped restraint products to 62 countries and has distribution agreements with 22 international distributors covering 43 countries[128]. - BolaWrap is currently in use by over 900 U.S. law enforcement agencies and in 62 countries, demonstrating significant market penetration[145]. - Successful outcomes reported by officers using BolaWrap are at 85%, which is higher than typical outcomes for less lethal tools[146]. - As of September 30, 2025, over 1,590 agencies have received BolaWrap training, with a 4% increase in agencies and a 3% increase in trained officers compared to the previous year[149]. - The company plans to increase product demonstrations and training sessions, particularly in international markets, to drive sales growth[152]. Financial Performance - Gross revenue for the three months ended September 30, 2025, was $2.0 million, a 241% increase compared to $593 thousand for the same period in 2024[178]. - Net revenue for the three months ended September 30, 2025, was $1.5 million, reflecting a 151% increase from $593 thousand in the prior year[178]. - Gross profit for the three months ended September 30, 2025, was $0.9 million, representing a gross margin of 59%, up from 40% in the same period of 2024[179]. - Operating loss for the nine months ended September 30, 2025, was $9.5 million, a decrease of $1.4 million from $10.9 million for the same period in 2024[199]. - The net loss from operations for the three months ended September 30, 2025, was $2.8 million, down from $3.6 million in the same period of 2024[154]. Cash Flow and Liquidity - The company had $6.0 million in cash and cash equivalents as of September 30, 2025, compared to $3.6 million as of December 31, 2024, indicating improved liquidity[156]. - The Company reported net cash provided by financing activities of $10.2 million during the nine months ended September 30, 2025, primarily from Private Placements[232]. - During the nine months ended September 30, 2025, the net cash used in operating activities was $7.6 million, with a net loss of $6.4 million[229]. - The company expects future liquidity to be primarily from product sales, exercise of stock options and warrants, and potential equity or debt financing[200]. Strategic Initiatives and Leadership - The company appointed key leadership positions in 2025 to strengthen its management team, including a Chief Revenue Officer and a Chief Commercial Officer[130]. - The company is exploring opportunities to increase its presence in adjacent markets such as military and private security[120]. - The Company plans to hold a special meeting on December 12, 2025, to obtain Series B Stockholder Approval for the issuance of shares exceeding 19.99% of its outstanding shares[220]. Challenges and Risks - Geopolitical tensions and macroeconomic challenges may impact future results, but the company believes it is well-positioned to provide lifesaving technologies[151]. - The Company experienced increased costs in labor and materials due to inflation, impacting operating expenses throughout 2025[235]. - The company has experienced net losses and negative cash flows from operations since inception, indicating ongoing financial challenges[201].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Data and Key Metrics Changes - The third quarter of 2025 marked the strongest performance in the past two years, with gross revenue reaching $2 million, of which 12% was derived from subscription-based sales, indicating a significant improvement in core fundamentals [3][4] - The shift towards recurring and integrated systems revenue is driving margin expansion and positioning the company for profitability [9] Business Line Data and Key Metrics Changes - The adoption of BolaWrap is increasing, with a reported 92% field success rate and zero reported deaths or serious injuries, showcasing its effectiveness compared to traditional tools like Tasers and pepper spray [5][6] - The company has expanded its product family to include Wrap Vision and Wrap Reality, enhancing its offerings beyond just hardware sales to a multi-year subscription model [8][9] Market Data and Key Metrics Changes - The U.S. law enforcement market consists of approximately 18,000 agencies and about 1 million officers, presenting a substantial opportunity for growth [10] - The counter-UAS market, which the company is targeting with its Merlin and Panda programs, is projected to exceed $15 billion globally by 2030 [10][11] Company Strategy and Development Direction - The company is transitioning from a device manufacturer to a provider of non-lethal response subscription solutions, focusing on training, policy alignment, and integrated systems [3][6] - The establishment of Wrap Federal aims to expand into defense and homeland security markets, aligning with federal procurement standards [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing adoption of non-lethal tools, driven by tighter policies and increasing demand for safer law enforcement practices [4][21] - The company is optimistic about its future capital needs and plans to approach capital markets for potential public secondary offerings [15] Other Important Information - The company opened a new manufacturing and training facility in Norton, Virginia, to support its Made in America production strategy and enhance R&D capabilities [12][13] - The focus on integrated training and policy discussions is seen as crucial for the successful deployment of non-lethal tools [34] Q&A Session Summary Question: Future capital needs and public secondary offerings - Management indicated that they see the potential to tap into capital markets and will continue to evaluate financial options [15] Question: Difference between non-lethal and less-lethal - The company clarified that its device is classified as non-lethal, distinguishing it from other less-lethal products in the market [16][17] Question: Confidence in adoption and movement away from other tools - Management cited documented deployment data showing significant adoption of BolaWrap, with usage outpacing traditional tools like Tasers [21][22] Question: Updates on the potential Chile deal - The company is actively engaging with Chile and anticipates real business opportunities in the near future [32][33] Question: Plans to obtain sales and sales force description - The company has ramped up its sales and marketing team significantly, indicating a strong push to capitalize on current market opportunities [45][46]

Revenue Growth - Total gross revenue for Q3 2025 was $2.0 million, a 241% increase from $0.6 million in Q3 2024, driven by stronger BolaWrap® product sales and managed services revenue[3] - Total revenues for the three months ended September 30, 2025, were $2,022 million, a significant increase from $593 million in the same period of 2024, representing a growth of 241%[23] - Product sales reached $1,743 million for the three months ended September 30, 2025, compared to $434 million in the same period of 2024, marking a 302% increase[23] Profitability and Loss - Operating loss improved by 24% to $2.8 million in Q3 2025, and by 13% to $9.5 million for the nine-month period, indicating progress towards profitability[9] - The net loss attributable to common stockholders for the three months ended September 30, 2025, was $2,937 million, compared to a net income of $1,673 million in the same period of 2024[23] - The change in fair value of warrant liabilities resulted in a loss of $3,158 million for the nine months ended September 30, 2025, compared to a loss of $12,517 million in the same period of 2024[25] Expenses Management - Operating expenses decreased by 6% to $3.6 million in Q3 2025, while for the nine-month period, they fell 11% to $11.5 million[7] - Operating expenses totaled $3,644 million for the three months ended September 30, 2025, slightly down from $3,861 million in the same period of 2024[23] - Research and development expenses decreased to $167 million for the three months ended September 30, 2025, from $527 million in the same period of 2024, a reduction of 68%[23] Cash and Assets - Cash and cash equivalents increased to $5.965 million as of September 30, 2025, up from $3.610 million at the end of 2024[21] - Cash and cash equivalents at the end of the period were $5,965 million, up from $4,867 million at the end of the same period in 2024[25] - Total assets rose to $18.237 million from $15.121 million at the end of 2024, reflecting growth in current assets[21] Strategic Initiatives - The company has expanded its salesforce and established a presence in Washington, D.C. to accelerate federal market expansion[8] - Wrap Technologies launched new products including the WrapTactics™ digital training platform and next-generation drone solutions, enhancing its public safety technology portfolio[12][13] - Wrap's BolaWrap® is now used by over 1,000 agencies across the U.S. and in 60 countries, reinforcing its market presence and commitment to public safety[12] Subscription Revenue - Recurring subscription sales reached $236,000, accounting for approximately 12% of total gross revenue, reflecting the transition towards a recurring revenue model[5] Shareholder Information - The weighted average common shares used to compute net loss per basic and diluted shares of common stock increased to 51,096,292 for the three months ended September 30, 2025, from 45,861,208 in the same period of 2024[23] Fundraising - The company raised $4,500 million from the issuance of Series B convertible preferred stock during the nine months ended September 30, 2025[25]

Core Insights - Wrap Technologies, Inc. reported a significant increase in gross revenue, with a 241% rise to $2.0 million for Q3 2025 compared to $0.6 million in Q3 2024, driven by strong sales of the BolaWrap product and managed services revenue [2][3] - The company is transitioning to a more sustainable, service-oriented model, as indicated by a net revenue of $1.5 million for the quarter, up 151% from the previous year [2][4] Revenue Growth - Total gross revenue for Q3 2025 was $2.0 million, a 241% increase from $0.6 million in Q3 2024, primarily due to stronger BolaWrap product sales and managed services [2] - For the nine months ended September 30, 2025, gross revenue totaled $3.8 million, slightly up from $3.6 million in 2024, while net revenue was $3.3 million compared to $3.6 million in the prior year [2] Recurring Subscription Growth - Recurring subscription sales reached $236,000 in Q3 2025, accounting for approximately 12% of total gross revenue, reflecting the company's shift towards a recurring revenue model [4] Margin Expansion - Gross profit for Q3 2025 increased by 276% to $0.9 million, with gross margin expanding to 59% from 40% due to improved pricing discipline and operational efficiencies [5] Reduced Operating Expenses - Operating expenses for Q3 2025 were $3.6 million, a 6% improvement from $3.9 million in the same period last year, while for the nine months ended September 30, 2025, operating expenses decreased by 11% to $11.5 million [6] Spending on Growth and Innovation - The company has shifted its spending towards growth and innovation, focusing on sales, marketing, and R&D to support future revenue generation [7] Improved Operating Results - Operating loss improved by 24% to $2.8 million for Q3 2025 compared to $3.6 million in Q3 2024, indicating progress towards profitability [8] Recent Highlights - Wrap Technologies has made significant advancements in its product offerings and partnerships, enhancing its position in the public safety technology market [14]

Core Insights - Wrap Technologies, Inc. is expanding its partnership with the Law Enforcement Training and Advisory Council (LETAC) to address public concerns regarding humanoid and robotic systems in public safety [1][5] - The company aims to develop human-centered non-lethal response frameworks that ensure ethical control and accountability as autonomous systems evolve [2][4] - Wrap and LETAC are proactively defining ethical standards for the future integration of autonomous systems in public safety, emphasizing human judgment as the ultimate authority [3][4] Group 1: Partnership and Framework Development - The partnership with LETAC is focused on creating comprehensive policies for the responsible use of robotic systems in public safety [5][6] - Wrap is committed to ensuring that emerging technologies reinforce human values in policing rather than replace them [4][6] - The initiative aims to establish Wrap and LETAC as global leaders in defining ethical autonomy for public safety [6] Group 2: Non-Lethal Tools and Training - Wrap's portfolio includes innovative non-lethal tools such as the BolaWrap® 150 device, WrapReality™ training platform, and WrapVision™ body-worn camera [8][10] - The BolaWrap® 150 is designed to provide law enforcement with a safer choice for managing non-compliant subjects, reducing the risk of injury [10] - Wrap Reality™ offers immersive training scenarios to enhance decision-making under pressure for first responders [11] Group 3: Ethical Standards and Accountability - The frameworks being developed include ethical use-of-force thresholds, man-in-the-loop oversight, data integrity, and non-lethal intervention standards [9] - These standards prioritize life preservation and ensure that human decision-making remains central to the use of autonomous systems [9] - The collaboration aims to maintain public trust and accountability through transparency in the deployment of new technologies [9]