WRAP TECHNOLOGIES, INC. WRAP
We are a global public safety technology and services company focused on delivering integrated non-lethal solutions for law enforcement, corrections, defense, and other public safety organizations worldwide. Our mission is to enable safer outcomes by providing officers and agencies with the tools, training, and tactics to gain proactive, lawful control of encounters, reducing risk to both officers and subjects, while preserving tactical advantage.
We began sales of our first public safety product, the BolaWrap® 100 device, in late 2018. In the first quarter of 2022, we introduced the BolaWrap® 150, a next‑generation, electronically deployed device that is more robust, smaller, lighter, and simpler to deploy than the BolaWrap 100, which has since been phased out. In December 2020, we acquired NSENA Inc. ("NSENA"), a provider of immersive virtual reality training for law enforcement utilizing proprietary software-enabled content and computer graphics simulation. This acquisition provided the foundation for Wrap Reality™, our virtual reality ("virtual reality" or "VR") training platform designed for law enforcement simulation training and correctional reentry scenarios.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M | $4.5M | $5.3M | $7.5M | $7.4M | $3.9M | $696.8K | $23.1K | $0 | — |
| Cost of revenue | $2.0M | $2.0M | $3.2M | $4.3M | $5.7M | $2.6M | $420.0K | $18.6K | $0 | — |
| Gross profit | $2.7M | $2.5M | $2.9M | $3.7M | $2.0M | $1.3M | $276.8K | $4.5K | $0 | — |
| R&D | $56.0K | $2.3M | $3.3M | $5.1M | $6.2M | $2.8M | $2.2M | $734.8K | $311.3K | — |
| SG&A | $16.1M | $15.7M | $18.4M | $16.4M | $20.3M | $11.6M | $6.7M | $2.6M | $522.2K | — |
| Total operating expenses | $16.2M | $18.0M | $21.6M | $21.5M | $26.5M | $14.4M | $8.9M | $3.3M | $833.5K | — |
| Operating income | -$13.5M | -$15.6M | -$18.7M | -$17.7M | -$24.5M | -$13.1M | -$8.6M | -$3.3M | -$833.5K | — |
| Interest expense | — | — | — | — | $0 | $2.0K | $288.2K | $1.3K | $0 | — |
| Pre-tax income | -$10.3M | -$5.9M | -$30.2M | -$17.6M | -$24.4M | -$12.6M | -$8.3M | -$3.3M | -$833.5K | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$10.3M | -$5.9M | -$30.2M | -$17.6M | -$24.4M | -$12.6M | -$8.3M | -$3.3M | -$833.5K | — |
| EPS, basic | -0.22 | -0.16 | -0.72 | -0.43 | -0.62 | — | — | -0.14 | -0.04 | — |
| EPS, diluted | -0.22 | -0.16 | -0.72 | — | -0.62 | -0.37 | -0.29 | -0.14 | — | — |
| Shares, diluted (wtd. avg.) | 50.4M | 45.6M | 42.3M | 41.2M | 39.3M | — | — | 23.6M | 20.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.5M | $3.6M | $4.0M | $5.3M | $4.9M | $16.6M | $17.0M | $12.4M | $3.1M | — |
| Short-term investments | — | — | $7.5M | $13.9M | $30.0M | $25.0M | $0 | — | — | — |
| Receivables | $2.8M | $513.0K | $3.0M | $2.8M | $3.9M | $1.9M | $195.3K | $4.4K | $0 | — |
| Inventory | $5.0M | $6.2M | $5.8M | $4.0M | $1.6M | $2.7M | $2.2M | $158.3K | $131.2K | $0 |
| Total current assets | $11.4M | $10.5M | $21.2M | $26.9M | $41.2M | $46.9M | $19.7M | $12.6M | $3.2M | $283.4K |
| Property, plant and equipment | $123.0K | $146.0K | $509.0K | $758.0K | $976.0K | $357.0K | $242.9K | $30.4K | $36.7K | $8.2K |
| Goodwill | $0 | $0 | $1.6M | $0 | — | — | — | — | — | — |
| Other intangibles | $1.6M | $2.4M | $2.6M | $2.6M | $2.0M | $1.4M | $230.3K | $118.7K | $0 | — |
| Total assets | $15.4M | $15.1M | $28.5M | $30.6M | $44.2M | $48.8M | $20.4M | $12.8M | $3.3M | $293.1K |
| Accounts payable | $620.0K | $609.0K | $1.1M | $1.4M | $1.8M | $1.2M | $407.0K | $232.9K | $36.2K | $12.1K |
| Total current liabilities | $1.8M | $13.2M | $23.5M | $3.2M | $2.9M | $2.3M | $1.1M | $397.4K | $192.5K | $85.0K |
| Total liabilities | $3.9M | $14.9M | $25.3M | $3.5M | $3.0M | $2.4M | $1.2M | $397.4K | — | — |
| Retained earnings | -$116.3M | -$105.1M | -$98.0M | -$67.4M | -$49.8M | -$25.3M | -$12.7M | -$4.4M | -$1.1M | -$234.4K |
| Total equity | $11.5M | $250.0K | $3.2M | $27.1M | $41.3M | $46.4M | $19.2M | $12.4M | $3.1M | $208.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.3M | -$8.1M | -$16.7M | -$14.6M | -$18.2M | -$12.2M | -$8.5M | -$2.7M | -$833.7K | — |
| Depreciation and amortisation | $113.0K | $377.0K | $479.0K | $762.0K | $478.0K | $163.0K | $46.9K | $21.9K | $6.7K | — |
| Stock-based compensation | $4.1M | $2.4M | $2.0M | $3.2M | $5.4M | $2.2M | $1.5M | $513.0K | $0 | — |
| Capital expenditure | $100.0K | $12.0K | $230.0K | $256.0K | $995.0K | $249.0K | $256.7K | $14.2K | $35.1K | — |
| Investing cash flow | -$387.0K | $7.3M | $5.2M | $14.9M | -$6.9M | -$26.1M | -$382.2K | -$134.3K | -$35.1K | — |
| Financing cash flow | $10.5M | $468.0K | $10.2M | $83.0K | $13.4M | $38.0M | $13.5M | $12.1M | $3.7M | — |
| Dividends paid | $0 | $120.0K | $58.0K | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-011401.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $23.1K | $696.8K | $3.9M | $7.4M | $7.5M | $5.3M | $4.5M | $4.7M |
| Gross profit | — | $0 | $4.5K | $276.8K | $1.3M | $2.0M | $3.7M | $2.9M | $2.5M | $2.7M |
| Net income | — | -$833.5K | -$3.3M | -$8.3M | -$12.6M | -$24.4M | -$17.6M | -$30.2M | -$5.9M | -$10.3M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed Item 1.01
- Other event Item 8.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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