Wrap Technologies, Inc. (WRAP): History, Ownership, Mission, How It Works & Makes Money

In today's landscape of public safety, how does Wrap Technologies, Inc. (NASDAQ: WRAP) stand out as a global leader with its innovative solutions? With a focus on non-lethal tools and advanced technologies, Wrap aims to transform how agencies train, equip, and respond to modern challenges. Keep reading to explore Wrap's journey, its core offerings like BolaWrap® and Wrap Reality™, and how it's strategically positioning itself for future growth, including a 22% year-over-year reduction in operating expenses and a focus on monetizing its $25 million finished goods inventory.

Wrap Technologies, Inc. (WRAP) History

Founding Timeline

Year established

The company was established in 2016.

Original location

The company was originally located in Tempe, Arizona.

Founding team members

The founding team members included:

• David Norris
• Scot Cohen

Initial capital/funding

The initial capital and funding details are not readily available in the provided search results.

Evolution Milestones

Transformative Moments

Several transformative moments have shaped the trajectory of the company:

• Focus on Non-Lethal Solutions: The company's core mission to provide law enforcement with non-lethal tools has driven its product development and market strategy.
• Product Innovation: The development and launch of the BolaWrap 100 marked a significant shift in remote restraint technology.
• Public Market Entry: The IPO provided capital for expansion but also brought increased scrutiny and expectations for growth.
• Global Expansion: Entering international markets has broadened the company's reach and impact.

For insights into the company's financial health, explore: Breaking Down Wrap Technologies, Inc. (WRAP) Financial Health: Key Insights for Investors

Wrap Technologies, Inc. (WRAP) Ownership Structure

Wrap Technologies, Inc. has a mix of institutional and individual ownership, reflecting a blend of investment strategies and stakeholder interests. Understanding this structure provides insights into the company's governance and potential influences on its strategic direction. For more insights, check out: Breaking Down Wrap Technologies, Inc. (WRAP) Financial Health: Key Insights for Investors

Wrap Technologies, Inc.'s Current Status

Wrap Technologies, Inc. is a publicly traded company, meaning its shares are available for purchase on the open market. This allows a wide range of investors, from individuals to large institutions, to own a stake in the company. As a publicly traded entity, WRAP is subject to regulatory requirements, including financial reporting and corporate governance standards.

Wrap Technologies, Inc.'s Ownership Breakdown

The ownership of Wrap Technologies, Inc. is distributed among various shareholders, including institutional investors, individual shareholders, and company insiders. The following table summarizes the ownership breakdown:

Wrap Technologies, Inc.'s Leadership

The leadership team at Wrap Technologies, Inc. is responsible for setting the strategic direction and managing the day-to-day operations of the company. Key members of the leadership team include:

• Kevin Mullins serves as the Chief Executive Officer.
• Clinton Roberts serves as the Chief Financial Officer.

Wrap Technologies, Inc. (WRAP) Mission and Values

Wrap Technologies, Inc. aims to modernize policing through innovative technology and training solutions. Their focus extends to enhancing safety for both law enforcement officers and the communities they serve.

Wrap Technologies, Inc. Core Purpose

Official mission statement

Wrap Technologies' official mission statement is: To provide law enforcement agencies with the safest, most effective tools and training to better protect our communities and those who serve.

Vision statement

While a specific formal vision statement may not be explicitly publicized, the vision of Wrap Technologies can be inferred from their actions and goals:

• To be the leading provider of non-lethal de-escalation solutions for law enforcement.
• To significantly reduce the number of injuries and fatalities resulting from police encounters.
• To foster greater trust and transparency between law enforcement and the communities they serve.

Company slogan/tagline

Wrap Technologies uses the tagline 'Protect and Preserve,' encapsulating the dual focus on safeguarding both law enforcement personnel and the individuals they encounter.

To gain more in-depth knowledge about the company's investors, read this article: Exploring Wrap Technologies, Inc. (WRAP) Investor Profile: Who’s Buying and Why?

Wrap Technologies, Inc. (WRAP) How It Works

Wrap Technologies, Inc. focuses on developing and marketing innovative law enforcement solutions designed to safely detain individuals without causing serious injury, primarily through its flagship product, the BolaWrap.

Wrap Technologies, Inc.'s Product/Service Portfolio

Wrap Technologies, Inc.'s Operational Framework

Wrap Technologies, Inc. operates through a direct sales force and distribution partners to reach its target markets. The company emphasizes training and support to ensure proper use and understanding of its products. Here are key aspects of its operational framework:

• Product Development and Innovation: Continuous investment in research and development to enhance existing products and create new solutions for law enforcement and security.
• Sales and Marketing: Direct sales team focused on demonstrating and selling BolaWrap and Wrap Reality to law enforcement agencies, along with participation in industry trade shows and conferences.
• Training and Support: Comprehensive training programs for law enforcement officers on the safe and effective use of BolaWrap and Wrap Reality.
• Distribution Network: Partnerships with distributors to expand market reach, both domestically and internationally.
• Manufacturing and Supply Chain: Outsourcing manufacturing to ensure scalability and cost-effectiveness, while maintaining quality control.

Wrap Technologies, Inc.'s Strategic Advantages

Wrap Technologies, Inc. aims to maintain a competitive edge through several key strategies:

• Innovative Product Portfolio: Offering unique, non-lethal tools like BolaWrap and virtual reality training to address the growing need for safer law enforcement methods.
• Strong Intellectual Property: Maintaining patents and trademarks to protect its proprietary technology and market position.
• Focus on De-escalation: Aligning products with the increasing emphasis on de-escalation and minimizing the use of force in law enforcement.
• Training and Education: Providing extensive training programs to ensure proper and safe use of its products, building trust and credibility with law enforcement agencies.
• Strategic Partnerships: Collaborating with key distributors and technology partners to expand market reach and enhance product offerings.

For more in-depth information, you might find this resource helpful: Mission Statement, Vision, & Core Values of Wrap Technologies, Inc. (WRAP).

Wrap Technologies, Inc. (WRAP) How It Makes Money

Wrap Technologies, Inc. primarily generates revenue through the sale of its public safety solutions, mainly the BolaWrap device and related services.

Wrap Technologies, Inc.'s Revenue Breakdown

Wrap Technologies, Inc. generates revenue primarily through product sales and services. A detailed breakdown reveals the contribution of each stream to the total revenue.

Wrap Technologies, Inc.'s Business Economics

The business economics of Wrap Technologies, Inc. are shaped by several key factors:

• Pricing Strategy: The BolaWrap device is priced to be accessible to law enforcement agencies, balancing cost with the value it provides in de-escalation scenarios.
• Cost of Goods Sold (COGS): Managing production costs is crucial. Efficiencies in manufacturing and supply chain management directly impact profitability.
• Operating Expenses: These include sales and marketing, research and development, and administrative costs. Strategic investments in these areas are essential for growth and market penetration.
• Gross Margin: The difference between revenue and COGS, reflecting production efficiency.
• Market Demand: The increasing focus on non-lethal policing solutions drives demand for BolaWrap, influencing sales volume and revenue.

Wrap Technologies, Inc.'s Financial Performance

Key aspects of Wrap Technologies, Inc.'s financial performance include:

• Revenue Growth: The company has demonstrated substantial revenue growth, driven by increased adoption of BolaWrap by law enforcement agencies. In 2024, Wrap Technologies reported total revenue of $11.9 million, representing an increase of 43% compared to $8.3 million in 2023.
• Gross Profit: The company’s gross profit increased to $5.9 million in 2024, up from $4.1 million in 2023.
• Operating Expenses: Operating expenses in 2024 totaled $28.3 million, compared to $29.4 million in 2023.
• Net Loss: Despite revenue growth, Wrap Technologies continues to experience a net loss. The net loss for 2024 was $22.3 million, an improvement from the $25.3 million net loss in 2023.
• Cash Position: Maintaining a strong cash position is vital for funding operations and growth initiatives. As of December 31, 2024, cash and cash equivalents totaled $23.7 million.

To gain more insight into the company's values, explore: Mission Statement, Vision, & Core Values of Wrap Technologies, Inc. (WRAP).

Wrap Technologies, Inc. (WRAP) Market Position & Future Outlook

As of April 2025, Wrap Technologies, Inc. is navigating a competitive landscape in the law enforcement technology sector, with a focus on de-escalation tools. The company aims to solidify its position by capitalizing on market opportunities while mitigating potential risks.

Competitive Landscape

Opportunities & Challenges

Industry Position

Wrap Technologies, Inc. holds a unique position within the law enforcement technology industry, primarily due to its focus on remote incapacitation and de-escalation. The company's standing can be further understood through the following points:

• Niche Focus: Specializes in de-escalation tools, setting it apart from competitors with broader offerings.
• Technological Innovation: Relies on technological advancements to maintain a competitive edge.
• Market Penetration: Aims to increase market share through strategic sales and marketing efforts.

To gain more insight into the company's core values and long-term objectives, explore the Mission Statement, Vision, & Core Values of Wrap Technologies, Inc. (WRAP).