Wrap Technologies Reports Decline in Q1 Revenues

Wrap Technologies, Inc. ( (WRAP) ) has released its Q1 earnings. Here is a breakdown of the information Wrap Technologies, Inc. presented to its investors.

Wrap Technologies, Inc. is a Delaware-based company specializing in developing and supplying public safety products and training services, primarily for law enforcement and security personnel, with its flagship product being the BolaWrap® remote restraint device. In its latest earnings report for the quarter ended March 31, 2025, Wrap Technologies reported a decrease in total revenues to $765,000 from $1.476 million in the same quarter of the previous year, reflecting a significant drop in product sales. Despite this, the company managed to achieve a net income of $109,000, slightly down from $117,000 in the previous year, due to a reduction in operating expenses and a favorable change in the fair value of warrant liabilities. Key financial highlights include a substantial increase in cash and cash equivalents to $6.17 million, up from $3.61 million at the end of 2024, driven by proceeds from a private placement. The company also reported a decrease in operating expenses to $4.517 million from $4.975 million, with a notable reduction in research and development costs. Looking ahead, Wrap Technologies remains focused on expanding its market presence and enhancing its product offerings, as indicated by its ongoing investments in patents and technology. The management’s outlook suggests a cautious yet optimistic approach to navigating market challenges and capitalizing on growth opportunities in the public safety sector.