Recent news highlights WRAP TECHNOLOGIES’ capital raise to restart manufacturing, ongoing training initiatives, and intellectual property filings for new non-lethal response systems.

• In February 2026, WRAP raised $5 million in a private placement to restart manufacturing operations, supporting production scale-up and supply chain expansion [N1].
• In January 2026, Warren County law enforcement trained using WRAP’s high-repetition virtual reality platform from day one, demonstrating adoption of immersive training solutions [N2].
• WRAP filed an intellectual property application for a next-generation multi-shot non-lethal response system, indicating ongoing product innovation [N3].
• The Glenwood Springs Police Department strengthened non-lethal response capabilities through structured training and policy supported by WRAP’s solutions [N4].

WRAP TECHNOLOGIES has expanded its product portfolio beyond the BolaWrap device to include digital training platforms and body-worn camera solutions, positioning itself as a provider of integrated non-lethal public safety technologies. The company’s recent $5 million capital raise supports restarting manufacturing operations, which may enhance supply capabilities. Its strategic partnership with Carahsoft and the establishment of Wrap Federal demonstrate efforts to deepen penetration into federal and defense markets. The company’s intellectual property assets and ongoing development of counter-UAS technologies represent potential avenues for market expansion. Continued adoption of non-lethal tools and training solutions by law enforcement and correctional agencies, along with growing demand for transparency and accountability technologies, underpin the company’s growth initiatives.

WRAP TECHNOLOGIES faces challenges including lengthy and complex government procurement cycles, budget constraints, and shifting policy priorities that can delay or reduce sales. The company’s expansion into drone and counter-UAS technologies is at an early stage, with uncertain commercial adoption and potential regulatory and liability risks. Manufacturing scale-up and supply chain reliability pose operational risks, especially for new and technically complex products. The company has incurred operating losses and negative net income, reflecting ongoing investments and cost containment efforts. Additionally, dilution risks from preferred stock dividends and warrants may impact shareholder value and complicate future capital raises. Market acceptance and competitive pressures in the non-lethal and public safety technology sectors remain significant hurdles.

WRAP TECHNOLOGIES’ moat derives from its integrated approach combining proprietary non-lethal tether deployment technology with complementary training platforms and digital evidence management solutions. The company’s patented BolaWrap devices address a unique operational gap between verbal commands and pain-compliance tools, offering a distinct non-lethal option that is less injurious and more tactically advantageous. Its intellectual property portfolio, including 93 issued patents and 149 pending applications, supports technological differentiation. The integration of hardware, immersive VR training, digital training subscriptions, and body-worn camera systems creates a comprehensive ecosystem that can deepen customer relationships and generate recurring revenue streams. Additionally, WRAP’s focus on domestic manufacturing and compliance with federal procurement and data sovereignty requirements enhances its competitive positioning in government markets. Strategic partnerships and a dedicated federal subsidiary further strengthen access to complex government procurement channels, contributing to barriers for new entrants.

• Government Procurement and Budget Constraints: WRAP’s business depends heavily on government and law enforcement customers who face lengthy procurement cycles, budget limitations, and shifting priorities, which can delay or reduce demand for the company’s products and services.
• Regulatory and Liability Risks for Drone and C-UAS Technologies: The company’s drone-based and counter-UAS products are subject to evolving regulatory frameworks and potential product liability claims, which could restrict operations or result in costly litigation and reputational harm.
• Manufacturing and Supply Chain Challenges: Scaling production of new and complex technologies requires reliable suppliers and quality control. Disruptions, cost increases, or quality issues could delay deliveries, increase expenses, and impact customer satisfaction.
• Financial and Dilution Risks: Operating losses and negative net income reflect ongoing investments. The presence of Series B preferred stock and warrants with anti-dilution provisions may dilute common stockholders and complicate future capital raising efforts.

• WRAP TECHNOLOGIES, INC. is a global public safety technology and services company focused on integrated non-lethal solutions for law enforcement, corrections, defense, and public safety organizations worldwide.
• The company’s mission is to enable safer outcomes by providing tools, training, and tactics to help officers gain proactive, lawful control of encounters, reducing risk and preserving tactical advantage.
• Primary products include the BolaWrap non-lethal device line, Wrap Reality VR training platform, WrapTactics digital training platform, WrapVision body-worn camera and digital evidence management platform, and counter-unmanned aircraft system (C-UAS) technologies.
• BolaWrap devices deploy a Kevlar tether to entangle subjects, providing a non-pain-compliance option to manage encounters earlier and reduce use-of-force incidents.
• Wrap Reality offers immersive VR training with scenario-based modules for law enforcement, corrections, and societal reentry training.
• WrapTactics is a subscription-based digital training platform launched in 2025, focusing on non-lethal response tactics and decision-making under stress.
• WrapVision, launched in 2025, is a North America assembled body-worn camera solution with a cloud-based digital evidence management platform designed to meet federal procurement and data sovereignty requirements.
• The company expanded into C-UAS and defense applications with the MERLIN program, adapting tether deployment technology for non-lethal drone interdiction; these programs are in development and evaluation stages.
• In 2025, WRAP formed Wrap Federal, a wholly-owned subsidiary to support U.S. federal government clients including Department of Defense and Homeland Security agencies.
• The company’s sales model has evolved from single-product demos to integrated solution engagements combining tools, training, and tactics, targeting federal, state, local, and international law enforcement agencies.
• WRAP sells primarily through an internal sales team supplemented by distributors and strategic partners, with distribution coverage across all 50 U.S. states and over 60 countries internationally.
• The company’s revenue streams include product sales (BolaWrap devices, cassettes, accessories, body-worn cameras, VR hardware) and technology-enabled services (software subscriptions, managed services, policy support, professional training).
• WRAP completed a strategic partnership with Carahsoft Technology Corp. in 2025 to expand access to federal, state, and local government agencies through reseller partners and cooperative purchasing contracts.
• Manufacturing is conducted in the U.S., with a new expanded facility in Norton, Virginia, supporting scalable, Made-in-America production for non-lethal response and C-UAS platforms.
• The company holds 93 issued patents and 149 pending patent applications related to non-lethal systems, tethered deployment technology, and training content.
• For the fiscal year ended December 31, 2025, WRAP reported revenues of $4.672 million, net loss of $10.335 million, and basic and diluted EPS of -$0.22 per share.
• Liquidity as of December 31, 2025 included $3.468 million in cash and cash equivalents, current assets of $11.42 million, current liabilities of $1.817 million, with a current ratio of 6.29 and cash ratio of 1.91.
• Operating expenses in 2025 were $16.128 million for SG&A and $0.056 million for R&D, reflecting cost containment and strategic focus shifts.
• The company raised approximately $5 million in February 2026 through a private placement to restart manufacturing operations.
• WRAP’s addressable markets include U.S. and international law enforcement, correctional facilities, law enforcement training, body-worn cameras and digital evidence management, counter-UAS, private security, and defense/homeland security sectors.
• The company faces risks including lengthy government procurement cycles, regulatory and liability risks related to drone and C-UAS technologies, manufacturing and supply chain challenges, and dilution risks from preferred stock and warrants.