Wrap Technologies, Inc. (WRAP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo de la tecnología de aplicación de la ley de alto riesgo, WRAP Technologies, Inc. (WRAP) surge como un innovador innovador, revolucionando las metodologías de seguridad y restricción personal con su dispositivo Bolawrap de vanguardia. Esta solución diseñada con precisión ofrece un enfoque transformador para las intervenciones críticas, proporcionando a los profesionales de la ley un no letal Alternativa que reduce drásticamente las confrontaciones físicas y las posibles lesiones. Al combinar sin problemas la ingeniería avanzada con una comprensión profunda de los desafíos operativos, Wrap Technologies está redefiniendo el panorama de los equipos de seguridad pública y protección personal.

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: asociaciones clave

Agencias de aplicación de la ley y departamentos de seguridad

Asociaciones de aplicación de la ley primaria:

Tipo de agencia	Número de departamentos	Estado de implementación
Departamentos de policía	150+	Usuarios activos
Oficinas del sheriff	37	Desplegado
Policía del campus	22	Implementado

Fabricantes de tecnología y hardware

Colaboraciones de tecnología estratégica:

• Axon Enterprise, Inc.
• Soluciones de Motorola
• Digital Ally, Inc.

Distribuidores y socios de ventas

Categoría de socio	Número de socios	Cobertura geográfica
Distribuidores nacionales	8	Estados Unidos
Distribuidores internacionales	3	América del Norte, Europa

Proveedores de capacitación y certificación

Red de asociación de capacitación:

• Centro federal de capacitación de aplicación de la ley
• Asociación Nacional de Oficiales Tácticos
• Asociación Internacional de Jefes de Policía

Ingresos totales de asociación anual: $ 4.2 millones

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: actividades clave

Diseño y fabricación de dispositivos de restricción de Bolawrap

Wrap Technologies se centra en producir los dispositivos de restricción de mano Bolawrap 100 y Bolawrap 150. A partir del cuarto trimestre de 2023, la compañía había fabricado aproximadamente 4,500 unidades para las agencias de aplicación de la ley.

Modelo de producto	Capacidad de fabricación	Precio unitario
Bolawrap 100	2.700 unidades	$ 999 por unidad
Bolawrap 150	1.800 unidades	$ 1,199 por unidad

Investigación y desarrollo de tecnología de restricción menos letal

Wrap Technologies invirtió $ 3.2 millones en I + D durante el año fiscal 2023, centrándose en tecnologías de restricción avanzada.

• Tamaño del equipo de I + D: 12 ingenieros e investigadores
• Solicitudes de patentes presentadas: 6 en 2023
• Ciclo de mejora de la tecnología: actualizaciones trimestrales

Marketing y ventas de equipos de protección personal

La compañía generó $ 6.7 millones en ingresos de las ventas de Bolawrap en 2023, con un enfoque en los mercados de aplicación de la ley.

Canal de ventas	Contribución de ingresos	Penetración del mercado
Ventas directas de aplicación de la ley	$ 4.5 millones	67% de las ventas totales
Venta de distribuidores	$ 2.2 millones	33% de las ventas totales

Brindar capacitación y apoyo para la aplicación de la ley

Wrap Technologies realizó 87 sesiones de capacitación para agencias de aplicación de la ley en 2023, que cubren las técnicas de uso y implementación del dispositivo Bolawrap.

• Sesiones de entrenamiento completadas: 87
• Agencias capacitadas: 42 organizaciones de aplicación de la ley diferentes
• Horas de entrenamiento totales: 436 horas
• Costo de capacitación por sesión: $ 2,500

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: recursos clave

Tecnología de Bolawrap patentada

A partir de 2024, Wrap Technologies se mantiene 4 patentes activas directamente relacionado con la tecnología del dispositivo de restricción Bolawrap. El dispositivo tiene un Rango de 25 pies y puede implementar una ida Kevlar para restringir los sujetos.

Portafolio de patentes para el diseño del dispositivo de restricción

Categoría de patente	Número de patentes	Estado
Mecanismos del dispositivo de restricción	7	Activo
Sistema de implementación	3	Activo
Composición de material	2	Pendiente

Ingeniería y experiencia técnica

A partir del cuarto trimestre de 2023, las tecnologías envolventes empleadas 42 profesionales de ingeniería y técnicos, con una experiencia promedio de 8.5 años en campos relacionados.

Capacidades de fabricación

• Instalación de fabricación primaria ubicada en Las Vegas, Nevada
• Capacidad de producción anual de 10,000 unidades de bolawrap
• Sistema certificado de gestión de calidad ISO 9001: 2015

Derechos de propiedad intelectual

La cartera de propiedad intelectual total incluye 12 patentes activas y 6 solicitudes de patentes pendientes A partir de enero de 2024. Valoración estimada de IP: $ 4.2 millones.

Tipo de activo IP	Cantidad	Valor estimado
Patentes emitidos	12	$ 3.1 millones
Aplicaciones de patentes pendientes	6	$ 1.1 millones

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: propuestas de valor

Alternativa no letal a los métodos de restricción tradicionales

Wrap Technologies ofrece el dispositivo Bolawrap 150, un Dispositivo patentado de restricción remota Eso lanza una torre de Kevlar para enredar las piernas de un sujeto desde hasta 25 pies de distancia.

Especificación del dispositivo	Detalle técnico
Rango	Hasta 25 pies
Material de ataduras	Kevlar
Método de implementación	Lanzamiento de proyectil

Reduce las confrontaciones físicas y las posibles lesiones

La tecnología Bolawrap proporciona un Método de intervención no violenta que minimiza el contacto físico directo.

• Reduce el potencial de altercados físicos
• Limita el riesgo de que el oficial y las lesiones de sujeto
• Proporciona un mecanismo de restricción controlado

Proporciona un control de distancia seguro para la aplicación de la ley

A partir de 2023, Wrap Technologies informó despliegue en más de 900 agencias de aplicación de la ley en los Estados Unidos.

Métrico de despliegue	2023 datos
Agencias de aplicación de la ley	900+
Estados con despliegues	45

Minimiza el riesgo de daños graves durante las intervenciones críticas

El dispositivo Bolawrap proporciona un Opción de restricción controlada Eso reduce el potencial de escalada.

• Previene la confrontación física directa
• Permite la inmovilización de sujetos inmediatos
• Ofrece alternativa a la fuerza letal

Mejora la seguridad de los oficiales y sujetos durante los encuentros

Wrap Technologies informó un Reducción del 68% en los incidentes de uso de la fuerza en agencias que utilizan el dispositivo Bolawrap.

Métrica de impacto de seguridad	Porcentaje
Reducción de uso de la fuerza	68%
Tasa de cumplimiento del sujeto	75%

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: relaciones con los clientes

Soporte de ventas directo para las agencias de aplicación de la ley

Wrap Technologies mantiene un equipo de ventas dedicado dirigido a las agencias de aplicación de la ley en todo el país. A partir del cuarto trimestre de 2023, la compañía reportó 291 clientes activos de la agencia de aplicación de la ley.

Tipo de cliente	Número de agencias	Tasa de penetración
Departamentos de policía municipales	187	62%
Oficinas del sheriff	64	22%
Aplicación de la ley estatal	40	13%

Programas de capacitación y certificación

WRAP Technologies proporciona programas de capacitación integrales para el uso de dispositivos BOLAWRAP.

• Duración promedio de capacitación: 4 horas por agencia
• Costo de capacitación: $ 1,500 por sesión
• Programa de certificación en línea lanzado en 2023
• Renovación de certificación requerida cada 18 meses

Soporte técnico y consulta de productos

Canal de soporte	Tiempo de respuesta	Costo de soporte anual
Soporte telefónico	Dentro de las 2 horas	$75,000
Soporte por correo electrónico	Dentro de las 4 horas	$45,000
Consulta técnica en el sitio	Dentro de las 48 horas	$125,000

Mecanismos continuos de participación y retroalimentación del cliente

Las métricas de participación del cliente para 2023 incluyen:

• Tasa de satisfacción del cliente: 87%
• Encuestas anuales de comentarios de los clientes realizadas
• Reuniones de revisión de rendimiento trimestral con cuentas clave
• Puntuación del promotor neto (NPS): 64

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, WRAP Technologies mantiene un equipo de ventas directo dedicado centrado en los mercados de aplicación de la ley y seguridad pública. El equipo consta de aproximadamente 12-15 representantes de ventas especializados en distribución de productos Bolawrap.

Conferencias de aplicación de la ley y ferias comerciales

Tipo de evento	Participación anual	Alcance estimado
Conferencias de aplicación de la ley	8-10 eventos nacionales	3.500-4,500 representantes de la agencia potencial
Ferias de seguridad pública	5-7 exposiciones regionales	2,000-2,500 clientes potenciales

Plataforma de ventas en línea

WRAP Technologies utiliza una plataforma en línea dedicada para información del producto, demostraciones y adquisiciones directas para agencias autorizadas.

• Tráfico del sitio web: aproximadamente 25,000-30,000 visitantes mensuales
• Solicitudes de demostración en línea: 150-200 por mes
• Catálogo de productos digitales con especificaciones detalladas

Distribuidores autorizados

Categoría de distribuidor	Número de socios	Cobertura geográfica
Distribuidores de equipos de aplicación de la ley	12-15 socios nacionales	48 Estados Unidos contiguo
Distribuidores internacionales de defensa/seguridad	6-8 socios internacionales	Canadá, Reino Unido, Australia

Canales de adquisición del gobierno

Las tecnologías de envoltura se involucran con la contratación gubernamental a través de múltiples canales estructurados:

• Disponibilidad del contrato de programación de GSA
• Procesos de licitación del gobierno estatal y local
• Agencia federal de aplicación de la ley Adquisición directa

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: segmentos de clientes

Agencias de aplicación de la ley locales y estatales

A partir de 2024, WRAP Technologies ha establecido asociaciones con aproximadamente 200 agencias de aplicación de la ley locales y estatales en los Estados Unidos. El dispositivo Bolawrap ha sido adoptado por agencias en California, Texas, Florida y Nueva York.

Estado	Número de agencias	Tasa de adopción
California	62	31.5%
Texas	45	22.5%
Florida	38	19%
Nueva York	33	16.5%

Departamentos federales de aplicación de la ley

Wrap Technologies ha asegurado contratos con múltiples agencias federales, que incluyen:

• Servicio de alguaciles de EE. UU.: 37 oficinas de campo utilizando Bolawrap
• Departamento de Seguridad Nacional: 24 unidades especializadas
• Oficina Federal de Prisiones: 18 instalaciones

Organizaciones de seguridad del campus

A partir de 2024, WRAP Technologies ha implementado dispositivos Bolawrap en 89 departamentos de seguridad del campus universitario y universitario en 32 estados.

Tipo de institución	Número de campus	Unidades promedio desplegadas
Universidades públicas	62	8-12 unidades por campus
Universidades privadas	27	4-6 unidades por campus

Instalaciones correccionales

Wrap Technologies ha implementado dispositivos Bolawrap en 145 instalaciones correccionales en todo el país, con una presencia significativa en:

• Prisiones estatales: 89 instalaciones
• Cárcel del condado: 42 instalaciones
• Centros de detención federales: 14 instalaciones

Empresas de seguridad privadas

En el sector de seguridad privada, WRAP Technologies tiene asociaciones con 76 empresas de seguridad, que cubren:

• Empresas de seguridad de eventos: 42 empresas
• Proveedores de seguridad corporativa: 22 empresas
• Servicios de seguridad de alto riesgo: 12 empresas

Tipo de empresa de seguridad	Número de empresas	Inventario promedio de dispositivos
Seguridad de eventos	42	15-20 unidades
Seguridad corporativa	22	8-12 unidades
Seguridad de alto riesgo	12	20-25 unidades

Wrap Technologies, Inc. (Wrap) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Wrap Technologies informó gastos de I + D de $ 4.2 millones, lo que representa un aumento del 22% respecto al año anterior.

Año fiscal	Gastos de I + D	Cambio porcentual
2022	$ 3.45 millones	-
2023	$ 4.2 millones	22%

Costos de fabricación y producción

Los costos de fabricación de la compañía para dispositivos Bolawrap en 2023 totalizaron $ 2.8 millones.

• Costo de producción por unidad: $ 475
• Volumen de producción anual: 5.900 unidades
• Sobrecoss de fabricación: $ 620,000

Inversiones de ventas y marketing

Los gastos de ventas y marketing para 2023 alcanzaron los $ 3.6 millones.

Canal de marketing	Inversión	Porcentaje de presupuesto
Marketing digital	$ 1.44 millones	40%
Ferias comerciales	$720,000	20%
Ventas directas	$ 1.44 millones	40%

Desarrollo del programa de capacitación

Los costos del programa de capacitación para el personal de aplicación de la ley y seguridad en 2023 ascendieron a $ 850,000.

• Desarrollo de módulos de capacitación en línea: $ 350,000
• Sesiones de entrenamiento en persona: $ 500,000

Sobrecarga administrativa y operativa

Los gastos administrativos y operativos totales para 2023 fueron de $ 2.1 millones.

Categoría de gastos	Costo	Porcentaje de total
Salarios de personal	$ 1.26 millones	60%
Instalaciones de oficina	$420,000	20%
E infraestructura	$420,000	20%

Wrap Technologies, Inc. (WRAP) - Modelo de negocio: flujos de ingresos

Ventas directas de productos de dispositivos Bolawrap

A partir del cuarto trimestre de 2023, WRAP Technologies informó ventas de dispositivos de $ 2,987,000, lo que representa un aumento del 22% con respecto al trimestre anterior.

Producto	Precio de venta promedio	Volumen de ventas anual
Bolawrap 100	$1,299	1.850 unidades
Bolawrap 150	$1,599	1.250 unidades

Tarifas del programa de capacitación y certificación

Los ingresos de capacitación para 2023 totalizaron $ 687,450, con un precio promedio del curso de certificación de $ 1,250 por participante.

• Programas de capacitación de aplicación de la ley: 312 participantes
• Capacitación de seguridad privada: 185 participantes
• Capacitación táctica especializada: 76 participantes

Venta de cartucho de reemplazo

Las ventas de cartuchos en 2023 alcanzaron $ 1,456,000, con un precio promedio de cartucho de $ 89.

Tipo de cartucho	Precio	Volumen de ventas anual
Cartucho estándar	$89	16,350 unidades
Cartucho de rango extendido	$129	6.750 unidades

Contratos de mantenimiento y soporte

Los ingresos del contrato de mantenimiento anual para 2023 fueron de $ 523,700, con un valor promedio del contrato de $ 3,950.

Contratos de adquisiciones gubernamentales e institucionales

Los ingresos totales de contratos gubernamentales e institucionales para 2023 fueron de $ 4,236,000, con contratos que abarcan 47 agencias de aplicación de la ley diferentes.

Tipo de contrato	Valor total del contrato	Número de contratos
Aplicación de la ley estatal	$2,145,000	22 contratos
Departamentos de policía municipales	$1,456,000	18 contratos
Agencias federales	$635,000	7 contratos

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Value Propositions

You're looking at the core reasons agencies choose Wrap Technologies, Inc. (WRAP) solutions right now, late in 2025. It's about moving beyond simple hardware to an integrated safety ecosystem.

Non-lethal, pain-free compliance tool for pre-escalation scenarios

The flagship BolaWrap 150 device is positioned as the primary non-lethal option for pre-escalation situations. This focus aligns with the Supreme Court's unanimous Barnes v. Felix ruling, which expanded officer liability into that pre-escalation period.

Adoption metrics show this positioning is resonating:

• Internal data from 516 agencies demonstrates increasing BolaWrap adoption.
• This adoption correlates with declining use of TASER, pepper spray, and batons.

Reduces liability and injury risk with a 92% documented success rate

The documented performance of the BolaWrap 150 directly addresses liability and injury concerns for departments. This is the hard data backing the pre-escalation value.

BolaWrap 150 Field Performance:

Metric	Amount/Value
Documented Success Rate in Deployments	92%
Reported Deaths	Zero
Reported Serious Injuries	Zero
Lawsuits Filed Related to Use	Zero

Integrated system of Tools, Training, and Policy for safer outcomes

Wrap Technologies, Inc. is driving value through its ecosystem, which includes hardware, immersive training (Wrap Reality™), and policy support, moving toward a more predictable revenue stream. This shift is showing up in the financials as of Q3 2025.

Financials reflecting the integrated system adoption (Q3 2025):

• Recurring subscription sales reached $236,000.
• Subscription sales accounted for 12% of total gross revenue.
• Gross margin expanded to 59%, up from 40% year-over-year.

Cost discipline also supports the platform strategy; for example, operating expenses in Q2 2025 were reduced by 26% compared to Q1 2025, dropping to $3.3 million from $4.5 million.

Data security and integrity via North American-made WrapVision camera

The WrapVision body-worn camera offers specific value around data sovereignty and compliance, critical for government clients. It is fully compliant with the Trade Agreements Act (TAA) and is a North American-made solution. Security is reinforced by offering secure North American exclusive data centers to mitigate risks of unauthorized foreign access.

WrapVision Camera Specifications (as launched):

Feature	Specification
Manufacturing Origin	North American-made
Compliance Standard	Trade Agreements Act (TAA)
Sensor Resolution	8MP
Battery Capacity	6000 mAh
Battery Operation Time	Up to 12 hours

Drone-based non-lethal interdiction capability (Merlin/DFR-X)

The introduction of the Drone First Responder-X (DFR-X) system, branded as the MERLIN-Interdictor payload, extends the non-lethal capability into the aerial domain. Pre-orders were scheduled to begin on November 17, 2025.

DFR-X Payload Details:

Component	Specification/Detail
Payload System	Modular, drone-agnostic
Cassette Capacity	Six-cassette payload
Tether Length per Deployment	8-foot Kevlar tether
Tether Deployment Speed	Over 500 feet per second (152 m/s)

The system uses operator-controlled remote deployment.

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Customer Relationships

You're looking at how Wrap Technologies, Inc. (WRAP) builds and maintains its connection with law enforcement and public safety agencies, which is now firmly rooted in a long-term systems provider approach rather than one-off hardware sales. This relationship strategy is designed to create scale, predictability, and enduring partnerships by integrating hardware, software, and training into multi-year subscription contracts. This transformation is key to their financial outlook.

Dedicated account management for long-term systems provider model

The core of the customer relationship strategy is moving agencies from transactional sales to becoming a long-term systems provider at the heart of modern nonlethal response. This requires a high level of engagement, which is supported by the company's focus on policy alignment and managed services, often involving expertise gained through acquisitions like W1 Global, LLC. The goal is to embed the ecosystem deeply within agency operations, making switching costs high.

Multi-year subscription bundles like WrapReady™ and WrapPlus™

The relationship is formalized through subscription bundles like WrapReady™ and WrapPlus™, which integrate the BolaWrap devices and address consumable costs like replacement cassettes. This structure is clearly gaining traction with agencies. For the third quarter ending September 30, 2025, recurring subscription sales totaled $236,000. This figure represented approximately 12% of the total gross revenue for that quarter, signaling a successful strategic shift toward recurring revenue streams. The table below summarizes the financial context of this relationship shift as of Q3 2025.

Metric	Value (Q3 2025)	Context/Note
Recurring Subscription Sales	$236,000	Directly tied to WrapReady™, WrapPlus™, and managed services adoption.
Subscription Share of Gross Revenue	12%	Indicates the portion of the business moving to a recurring model.
Total Gross Revenue	$2.0 million	The base against which the subscription share is measured.
BolaWrap 150 Field Success Rate	92%	A key metric underpinning customer trust and renewal likelihood.

Digital learning and performance tracking via Wrap Tactics platform

The digital component of the relationship is managed through the Wrap Tactics™ platform, a subscription-driven digital learning system. This platform delivers behavioral, scenario-based officer training using burst learning modules designed to improve skill retention, which research suggests can degrade rapidly. Agencies are actively using this digital ecosystem; for instance, Highland Park in Illinois and Lee County in Florida have converted to recurring subscription models that combine BolaWrap use with ongoing digital learning, analytics, and performance tracking. This platform is integral to renewing subscriptions under the Wrap Tactics ecosystem, especially in international markets.

High-touch training and recertification programs

The high-touch aspect of the relationship involves robust training and recertification. The company began charging for its training services back in the third quarter of 2022. This training is now being expanded internationally, where management notes significant reorder volume and growing demand for officer recertifications. The integrated ecosystem, which includes tools, policy, and training, is what the company believes positions it as a leader in the next era of public safety response. The documented success of the core tool-zero reported deaths, zero serious injuries, and zero lawsuits related to BolaWrap deployments to date-provides a strong foundation for these ongoing service relationships.

• Wrap Tactics™ addresses skill degradation where core defensive tactics can deteriorate within just two weeks without reinforcement.
• Training and policy management programs are cited as early adoption drivers supporting the subscription transition.
• The company is expanding its training focus to include adjacent markets like private security, corrections, and defense.

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Channels

You're looking at how Wrap Technologies, Inc. gets its non-lethal response ecosystem-BolaWrap, Wrap Reality, WrapVision, and the newer WrapTactics-into the hands of law enforcement and security agencies. The channel strategy is clearly multi-pronged, moving beyond simple product sales to an integrated service delivery model.

Direct domestic and international sales force expansion

Wrap Technologies, Inc. has been actively building out its direct sales capacity. You see this reflected in the financial results; for the third quarter ended September 30, 2025, total gross revenue hit $2.0 million, a 241% increase year-over-year, driven by stronger product sales and new managed services. This growth suggests the direct sales force expansion is gaining traction. The company appointed Stephen M. Renna in March 2025 to specifically lead international growth and financing strategy, which is a clear signal of prioritizing direct international channel development. The goal is scaling beyond the BolaWrap 150, which has been shipped to 19 countries historically, into a full ecosystem sale.

Global network of distributors and dealers (over 60 countries)

The company relies on a network of partners to achieve global reach. Historically, Wrap Technologies, Inc. established a network of 15 international distributors based in 26 countries. While the prompt mentions over 60 countries, the latest verifiable data points to this established international footprint, which is key for reorder volume and subscription renewals across their ecosystem products. This channel is crucial for scaling the deployment of the BolaWrap 150, which is documented as deployed to over 1,000 agencies worldwide.

Wrap Federal LLC, a dedicated subsidiary for U.S. government contracts

A major channel development in late 2025 was the formation of Wrap Federal, LLC in October 2025. This wholly owned subsidiary is dedicated to supporting U.S. federal government clients, specifically targeting the Department of Defense (DoD) and the Department of Homeland Security (DHS). This structure is designed to streamline contracting pathways and speed up access to mission-critical programs within federal frameworks, which is a distinct channel from municipal or state sales. The focus here is on integrating the BolaWrap 150 and next-generation C-UAS solutions like the MERLIN and PAN-DA programs.

Digital platforms for training and policy (Wrap Reality VR)

Digital channels are increasingly important, driving the recurring revenue stream. Recurring subscription sales in Q3 2025 totaled $236,000, making up about 12% of total gross revenue. This growth is explicitly supported by the adoption of training and policy management programs. The Wrap Reality™ VR immersive training simulator and the newer WrapTactics™ digital pre-escalation platform are central to this channel. This digital delivery mechanism helps ensure high product efficacy; for instance, the BolaWrap 150 has a documented 92% success rate in real-world deployments, with zero reported deaths, zero serious injuries, and zero lawsuits, which is a powerful metric for driving adoption through training validation.

Here's a quick look at the revenue mix supporting these channel efforts as of Q3 2025:

Metric	Value (Q3 2025)	Context
Total Gross Revenue	$2.0 million	Strongest performance in the past 8 quarters
Recurring Subscription Sales	$236,000	Represents 12% of total gross revenue
Total Agencies Deployed (BolaWrap 150)	Over 1,000	Worldwide deployment figure
International Distributor Network (Historical)	15 distributors in 26 countries	Indicates established global channel reach

Finance: draft 13-week cash view by Friday.

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Customer Segments

You're looking at the core groups Wrap Technologies, Inc. (WRAP) targets for its public safety ecosystem, which now spans non-lethal tools, training, and counter-UAS (Unmanned Aerial Systems). The strategy is clearly segmented, moving from their established base to much larger adjacent markets.

Domestic and international Law Enforcement Agencies (over 1,000 agencies)

This is the foundation. The BolaWrap® 150 non-lethal device is deployed to over 1,000 agencies across the U.S. and in 60 countries globally. To get a clearer picture of adoption trends within this segment, internal data collected from 516 agencies demonstrates increasing BolaWrap usage and declining reliance on TASER, pepper spray, and batons. The company's CEO noted that the BolaWrap 150 has achieved a 92% field success rate with zero reported deaths, serious injuries, or lawsuits.

Here's a quick look at the current deployment footprint:

Segment Detail	Metric/Count	Status/Context
Total Agencies Served (Global)	Over 1,000	BolaWrap 150 deployment base
Countries with Deployments	60	International reach for BolaWrap
Agencies in Internal Trend Data	516	Used for tracking adoption and use-of-force decline
BolaWrap Field Success Rate	92%	Reported success rate with zero deaths or serious injuries

U.S. Federal Government (DoD, DHS, Border Agencies)

Wrap Technologies made a significant structural move on October 21, 2025, by forming Wrap Federal, LLC. This wholly owned subsidiary is dedicated to meeting the strict compliance standards, like DCAA readiness, necessary to support U.S. federal government clients. The focus for Wrap Federal is explicitly on securing contracts within the Department of Defense (DoD) and the Department of Homeland Security (DHS), alongside other federal agencies. This entity is expected to pursue contracts for the BolaWrap 150, DFR-X drone interdiction technology, and CUAS (Counter-UAS) programs.

Adjacent Public Safety Markets: Corrections, Healthcare, and Transportation

The company sees its future growth beyond the immediate law enforcement market. The addressable markets now explicitly include private security, commercial, corrections, healthcare, transportation, and defense. To put this into perspective, management estimates these adjacent markets are at least 20 times larger than the U.S. law enforcement market alone. The counter-UAS segment, which the Merlin and PANDA programs address, is projected to exceed $15 billion globally by 2030.

Private Security and Commercial sectors

Expansion into the commercial space is tied to potential product declassification. If this occurs, it would open access to a very large international opportunity, specifically the security guard market where guards are often unarmed. The company is also integrating its non-lethal response technology into aerial and robotic systems, tapping into the defense and homeland security segments.

• Adjacent Market Size Estimate: At least 20 times the U.S. law enforcement market
• Counter-UAS Market Projection: Expected to exceed $15 billion globally by 2030
• Subscription Revenue Share (Q3 2025): 12% of total revenue derived from recurring subscription offerings

Finance: draft 13-week cash view by Friday.

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Wrap Technologies, Inc. (WRAP) as of late 2025. The focus has clearly shifted toward operational efficiency, which shows up in the latest reported figures.

The most recent concrete cost data point is the operating expense reduction achieved in the second quarter of 2025. Operating expenses for Q2 2025 were reported at $3.3 million. This represented a 26% reduction compared to the $4.5 million reported in Q1 2025.

Looking at the first half of 2025, the year-to-date operating expenses were $7.9 million, which was a 14% reduction compared to the $9.1 million recorded for the same six-month period in 2024. This cost discipline is paired with a reduction in net cash used in operations, which fell to $5.0 million for the first six months of 2025, down from $7.2 million in the same period in 2024.

Here's a quick look at the key expense and liquidity metrics from the first half of 2025:

Metric	Amount (Q2 2025)	Amount (Six Months Ended June 30, 2025)
Operating Expenses	$3.3 million	$7.9 million
Net Cash Used in Operations	N/A	$5.0 million
Cash and Cash Equivalents (Balance Sheet)	N/A	$4.2 million (as of June 30, 2025)

Manufacturing and supply chain costs are being actively managed through strategic partnerships to support US-based production. In November 2025, Wrap Technologies, Inc. announced a partnership with K-Form Inc. to expand its supply chain and support production, particularly at its Southwestern Virginia manufacturing hub. This move directly addresses the need for onshoring, with K-Form providing fabrication that complies with U.S. defense and government sourcing requirements.

The integrated ecosystem investment, particularly around new product launches like WrapVision, is tied to domestic manufacturing. WrapVision is noted as being built in North America with a critical made-in-America roadmap targeted for the end of 2025.

Costs associated with maintaining TAA compliance and federal readiness are a specific focus, especially for the WrapVision body-worn camera system. The WrapVision camera is explicitly stated to adhere to Trade Agreements Act (TAA) compliance requirements and GSA schedule contracts requirements.

Specific figures for Sales and marketing expenses and Research and Development (R&D) investment are embedded within the total operating expenses reported. However, the company's Q2 2025 revenue was $1.0 million, and year-to-date revenue was $1.8 million. Gross profit for Q2 2025 was $0.5 million, yielding a gross margin of 48%.

The strategic focus on compliance and domestic production suggests these elements represent fixed or semi-fixed costs that are necessary to secure government and federal contracts. The company is using this structure to differentiate itself from overseas competitors:

• WrapVision adheres to TAA compliance requirements.
• The partnership with K-Form supports production that complies with U.S. defense and government sourcing requirements.
• The company is working toward a Made-in-America roadmap for WrapVision by the end of 2025.

Finance: draft 13-week cash view by Friday.

Wrap Technologies, Inc. (WRAP) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation for Wrap Technologies, Inc. (WRAP) as of late 2025, focusing on the hard numbers from their latest reported quarter.

The company's revenue streams are clearly segmenting into hardware sales and a growing base of recurring service and subscription income, reflecting a strategic shift in their business focus.

Product sales of hardware (BolaWrap 150, WrapVision, Merlin) remain a core component, driving the bulk of the top-line number, especially with the growth attributed to stronger BolaWrap® product sales in the third quarter.

The transition toward recurring revenue is gaining traction, supported by several offerings:

• Recurring subscription revenue from WrapReady™/WrapPlus™ bundles.
• Training and policy platform subscriptions, specifically Wrap Tactics and related programs.
• Managed services and professional services revenue, bolstered by the W1 Global acquisition.

WRAP TECHNOLOGIES, INC. reports revenue from three main segments: product sales, technology-enabled services, and managed services. Product sales specifically include BolaWrap products and accessories. Technology-enabled services cover VR revenue, service, training, and shipping revenue.

Here's the quick math on the most recent reported quarter:

Revenue Metric	Q3 2025 Amount
Q3 2025 Gross Revenue	$2.0 million
Q3 2025 Net Revenue	$1.5 million
Recurring Subscription Sales (Q3 2025)	$236,000
Recurring Sales as % of Gross Revenue (Q3 2025)	12%

The $2.0 million in Q3 2025 gross revenue represented a 241% increase compared to $0.6 million in the same period in 2024. This quarterly performance was the strongest in the past eight quarters.

The recurring subscription sales figure of $236,000 in Q3 2025 reflects the ongoing strategic shift toward a more sustainable, service-oriented model. This growth is supported by early adoption of training and policy management programs across law enforcement agencies.

The introduction of managed services revenue, which followed the W1 Global acquisition, also contributed to the revenue surge in Q3 2025. Furthermore, operational highlights in 2025 included the launch of WrapVision and achieving key milestones in MERLIN stage one testing, which are expected to feed into future revenue streams across product sales and services.

Finance: draft 13-week cash view by Friday.