Wrap Technologies, Inc. ( (WRAP) ) has released its Q4 earnings. Here is a breakdown of the information Wrap Technologies, Inc. presented to its investors.
Wrap Technologies, Inc. is a global leader in public safety solutions, specializing in non-lethal tools and technologies designed to address modern public safety challenges. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting a strategic reset and improved financial discipline.
In the fourth quarter of 2024, Wrap Technologies saw a 47% increase in revenue and a significant improvement in gross profit, while reducing total operating expenses by 21%. Despite a 27% decline in annual revenue, the company achieved an 81% reduction in net losses, reflecting the success of its restructuring strategy. Key operational highlights include regaining Nasdaq compliance, launching a new manufacturing facility, and introducing the Managed Safety and Response ecosystem.
The company also made strategic acquisitions and leadership appointments to enhance its capabilities and expand its market presence. Notably, Wrap acquired W1 Global, LLC, and appointed experienced leaders to drive international growth and federal engagements. These moves are part of Wrap’s broader strategy to scale its integrated solutions and capitalize on global growth opportunities.
Looking ahead to 2025, Wrap Technologies aims to build on its transformation efforts by expanding its ecosystem of de-escalation tools and leveraging U.S. government partnerships for international expansion. The company is focused on innovation, performance, and accountability, with a commitment to providing non-lethal policing solutions that meet the evolving needs of public safety agencies worldwide.