Wrap Technologies, Inc. sees financial success with 22% reduction in operating expenses and revenue growth.

From GlobeNewswire: 2024-11-14 17:29:00

Wrap Technologies, Inc. (NASDAQ: WRAP) announced key financial achievements for Q3 2024, including a 22% reduction in operating expenses, a $25 million inventory monetization, and an increase in subscription services through 2027. Cash flow improved significantly, and revenue hit $593 thousand in Q3, showcasing financial stability and efficiency.

Wrap continues to invest in research and development, with a focus on innovation and market expansion. The company is developing integrated technology solutions, such as next-gen cassettes and enhanced device integration with body cameras. Efforts are underway to meet unmet market needs by offering affordable, end-to-end solutions for public safety agencies.

In Q1 2025, Wrap plans to launch a trusted service provider solution through a global go-to-market plan. The company is expanding its product campaign with a more integrated training approach, anticipating broad adoption of the BolaWrap. These efforts aim to address public safety demands, enhance operational efficiency, and drive maximum impact for customers.

Wrap Technologies, Inc. is a global leader in public safety solutions, offering products like BolaWrap® and Wrap Reality™. The company’s solutions focus on de-escalating conflicts and enhancing evidence collection and management for law enforcement agencies. Wrap is committed to empowering communities and improving public safety outcomes through innovative technology and comprehensive services.



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