Wrap Technologies, Inc. (Wrap): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde à enjeux élevés de la technologie des forces de l'ordre, Wrap Technologies, Inc. (WRAP) émerge comme un innovateur révolutionnaire, révolutionnant des méthodologies de sécurité personnelle et de retenue avec son dispositif de bolawrap à pointe. Cette solution de précision de précision offre une approche transformatrice des interventions critiques, offrant aux professionnels de l'application des lois un non létal Alternative qui réduit considérablement les confrontations physiques et les blessures potentielles. En mélangeant de manière transparente l'ingénierie avancée avec une compréhension approfondie des défis opérationnels, Wrap Technologies redéfinit le paysage des équipements de sécurité publique et de protection personnelle.

Wrap Technologies, Inc. (Wrap) - Modèle commercial: partenariats clés

Organismes d'application de la loi et services de sécurité

Partenariats principaux d'application de la loi:

Type d'agence	Nombre de départements	Statut de déploiement
Services de police	150+	Utilisateurs actifs
Bureaux du shérif	37	Déployé
Police du campus	22	Mis en œuvre

Fabricants de technologies et de matériel

Collaborations technologiques stratégiques:

• Axon Enterprise, Inc.
• Solutions Motorola
• Digital Ally, Inc.

Distributeurs et partenaires de vente

Catégorie de partenaire	Nombre de partenaires	Couverture géographique
Distributeurs nationaux	8	États-Unis
Distributeurs internationaux	3	Amérique du Nord, Europe

Fournisseurs de formation et de certification

Réseau de partenariat de formation:

• Centre fédéral de formation des forces de l'ordre
• Association nationale des officiers tactiques
• Association internationale des chefs de police

Revenus de partenariat annuel total: 4,2 millions de dollars

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: Activités clés

Conception et fabrication de dispositifs de retenue bolawrap

Les technologies Wrap se concentrent sur la production des dispositifs de retenue portatifs de Bolawrap 100 et Bolawrap 150. Au quatrième trimestre 2023, la société avait fabriqué environ 4 500 unités pour les organismes d'application de la loi.

Modèle de produit	Capacité de fabrication	Prix ​​unitaire
Bolawrap 100	2 700 unités	999 $ par unité
Bolawrap 150	1 800 unités	1 199 $ par unité

Recherche et développement d'une technologie de retenue moins létale

Wrap Technologies a investi 3,2 millions de dollars en R&D au cours de l'exercice 2023, en se concentrant sur les technologies de retenue avancées.

• Taille de l'équipe R&D: 12 ingénieurs et chercheurs
• Demandes de brevet déposées: 6 en 2023
• Cycle d'amélioration de la technologie: mises à jour trimestrielles

Marketing et ventes d'équipements de protection personnelle

La société a généré 6,7 millions de dollars de revenus à partir des ventes de Bolawrap en 2023, en mettant l'accent sur les marchés de l'application des lois.

Canal de vente	Contribution des revenus	Pénétration du marché
Ventes directes de l'application de la loi	4,5 millions de dollars	67% du total des ventes
Ventes de distributeurs	2,2 millions de dollars	33% du total des ventes

Fournir une formation et un soutien aux forces de l'ordre

Les technologies de Wrap ont organisé 87 sessions de formation pour les agences d'application de la loi en 2023, couvrant les techniques d'utilisation et de déploiement des appareils BoLawrap.

• Sessions de formation terminées: 87
• Agences formées: 42 organisations de forces de l'ordre différentes
• Total des heures de formation: 436 heures
• Coût de formation par session: 2 500 $

Wrap Technologies, Inc. (Wrap) - Modèle commercial: Ressources clés

Technologie de bolawrap propriétaire

En 2024, les technologies de Wrap sont 4 brevets actifs directement lié à la technologie de dispositif de retenue de bolawrap. L'appareil a un Range de 25 pieds et peut déployer une attache Kevlar pour restreindre les sujets.

Portefeuille de brevet pour la conception du périphérique de retenue

Catégorie de brevet	Nombre de brevets	Statut
Mécanismes de dispositif de retenue	7	Actif
Système de déploiement	3	Actif
Composition des matériaux	2	En attente

Ingénierie et expertise technique

Depuis le quatrième trimestre 2023, les technologies enveloppement utilisées 42 professionnels de l'ingénierie et techniques, avec une expérience moyenne de 8,5 ans Dans les champs connexes.

Capacités de fabrication

• Installation de fabrication primaire située à Las Vegas, Nevada
• Capacité de production annuelle de 10 000 unités de bolawrap
• Système de gestion de la qualité certifié ISO 9001: 2015

Droits de propriété intellectuelle

Le portefeuille total de propriété intellectuelle comprend 12 brevets actifs et 6 demandes de brevet en instance En janvier 2024. Évaluation IP estimée: 4,2 millions de dollars.

Type d'actif IP	Quantité	Valeur estimée
Brevets délivrés	12	3,1 millions de dollars
Demandes de brevet en instance	6	1,1 million de dollars

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: propositions de valeur

Alternative non létale aux méthodes de retenue traditionnelles

Wrap Technologies propose le dispositif Bolawrap 150, un dispositif de retenue à distance breveté Cela lance une attache de Kevlar pour enchevêtrer les jambes d'un sujet jusqu'à 25 pieds de distance.

Spécification de l'appareil	Détails techniques
Gamme	Jusqu'à 25 pieds
Matériau d'attache	Kevlar
Méthode de déploiement	Lancement de projectile

Réduit les confrontations physiques et les blessures potentielles

La technologie Bolawrap fournit un Méthode d'intervention non violente qui minimise le contact physique direct.

• Réduit le potentiel d'altercations physiques
• Limite le risque de blessure aux officiers et aux sujets
• Fournit un mécanisme de retenue contrôlé

Fournit un contrôle de la distance sûr pour l'application des lois

En 2023, Wrap Technologies a déclaré un déploiement dans plus de 900 organismes d'application de la loi aux États-Unis.

Métrique de déploiement	2023 données
Organismes d'application de la loi	900+
États avec déploiements	45

Minimise le risque de préjudice grave pendant les interventions critiques

Le dispositif bolawrap fournit un Option de retenue contrôlée Cela réduit le potentiel d'escalade.

• Empêche la confrontation physique directe
• Permet l'immobilisation du sujet immédiat
• Offre une alternative à la force mortelle

Améliore la sécurité des officiers et des sujets lors des rencontres

Les technologies enveloppement ont rapporté un Réduction de 68% des incidents d'utilisation de force dans les agences utilisant le dispositif de bolawrap.

Métrique d'impact de sécurité	Pourcentage
Réduction de l'utilisation de la force	68%
Taux de conformité du sujet	75%

Wrap Technologies, Inc. (WRAP) - Modèle d'entreprise: relations avec les clients

Aide aux ventes directes pour les organismes d'application de la loi

Wrap Technologies maintient une équipe de vente dédiée ciblant les organismes d'application de la loi à l'échelle nationale. Au quatrième trimestre 2023, la société a signalé 291 clients actifs de l'agence d'application de la loi.

Type de client	Nombre d'agences	Taux de pénétration
Services de police municipaux	187	62%
Bureaux du shérif	64	22%
Application de la loi de l'État	40	13%

Programmes de formation et de certification

Wrap Technologies offre des programmes de formation complets pour l'utilisation des appareils Bolawrap.

• Durée de formation moyenne: 4 heures par agence
• Coût de formation: 1 500 $ par session
• Programme de certification en ligne lancé en 2023
• Le renouvellement de la certification requis tous les 18 mois

Support technique et consultation de produits

Canal de support	Temps de réponse	Coût de soutien annuel
Support téléphonique	Dans les 2 heures	$75,000
Assistance par e-mail	Dans les 4 heures	$45,000
Consultation technique sur place	Dans les 48 heures	$125,000

Mécanismes d'engagement et de rétroaction des clients en cours

Les mesures d'engagement client pour 2023 incluent:

• Taux de satisfaction client: 87%
• Enquêtes de rétroaction des clients annuels menés
• Réunions de révision des performances trimestrielles avec des comptes clés
• Score du promoteur net (NPS): 64

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2024, Wrap Technologies maintient une équipe de vente directe dédiée axée sur les marchés de l'application des lois et de la sécurité publique. L'équipe se compose d'environ 12 à 15 représentants commerciaux spécialisés dans la distribution de produits Bolawrap.

Conférences d'application de la loi et salons commerciaux

Type d'événement	Participation annuelle	Portée estimée
Conférences d'application de la loi	8-10 événements nationaux	3 500 à 4 500 représentants de l'agence potentielle
Salon de la sécurité publique.	5-7 expositions régionales	2 000 à 2 500 clients potentiels

Plateforme de vente en ligne

Wrap Technologies utilise une plate-forme en ligne dédiée pour les informations sur les produits, les démonstrations et les achats directs pour les agences autorisées.

• Trafic de site Web: environ 25 000 à 30 000 visiteurs mensuels
• Demandes de démonstration en ligne: 150-200 par mois
• Catalogue de produits numériques avec des spécifications détaillées

Distributeurs autorisés

Catégorie de distributeur	Nombre de partenaires	Couverture géographique
Distributeurs d'équipements d'application de la loi	12-15 partenaires nationaux	48 États-Unis contigus
Distributeurs internationaux de défense / de sécurité	6-8 partenaires internationaux	Canada, Royaume-Uni, Australie

Canaux d'approvisionnement du gouvernement

Les technologies Wrap s'engage avec les achats gouvernementaux à travers de multiples canaux structurés:

• GSA Planifier la disponibilité du contrat
• Processus d'appel d'offres des États et du gouvernement local
• Agence fédérale d'application de la loi

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: segments de clientèle

Agences d'application de la loi locales et étatiques

En 2024, Wrap Technologies a établi des partenariats avec environ 200 organismes locaux et des États de l'application des lois à travers les États-Unis. Le dispositif de bolawrap a été adopté par les agences Californie, Texas, Floride et New York.

État	Nombre d'agences	Taux d'adoption
Californie	62	31.5%
Texas	45	22.5%
Floride	38	19%
New York	33	16.5%

Services fédéraux d'application de la loi

Wrap Technologies a obtenu des contrats avec plusieurs agences fédérales, notamment:

• Service des maréchaux américains: 37 bureaux sur le terrain utilisant Bolawrap
• Département de la sécurité intérieure: 24 unités spécialisées
• Bureau fédéral des prisons: 18 installations

Organisations de sécurité du campus

En 2024, Wrap Technologies a mis en œuvre des appareils Bolawrap dans 89 services de sécurité des collèges et universitaires dans 32 États.

Type d'institution	Nombre de campus	Unités moyennes déployées
Universités publiques	62	8 à 12 unités par campus
Collèges privés	27	4-6 unités par campus

Installations correctionnelles

Wrap Technologies a déployé des dispositifs de bolawrap dans 145 installations correctionnelles à l'échelle nationale, avec une présence significative dans:

• Prusons d'État: 89 installations
• Prises de comté: 42 installations
• Centres de détention fédéraux: 14 installations

Entreprises de sécurité privées

Dans le secteur de la sécurité privée, Wrap Technologies a des partenariats avec 76 entreprises de sécurité, couvrant:

• Sociétés de sécurité des événements: 42 entreprises
• Fournisseurs de sécurité d'entreprise: 22 entreprises
• Services de sécurité à haut risque: 12 entreprises

Type de l'entreprise de sécurité	Nombre d'entreprises	Inventaire moyen des périphériques
Sécurité de l'événement	42	15-20 unités
Sécurité des entreprises	22	8 à 12 unités
Sécurité à haut risque	12	20-25 unités

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Wrap Technologies a déclaré des dépenses de R&D de 4,2 millions de dollars, ce qui représente une augmentation de 22% par rapport à l'année précédente.

Exercice fiscal	Dépenses de R&D	Pourcentage de variation
2022	3,45 millions de dollars	-
2023	4,2 millions de dollars	22%

Coûts de fabrication et de production

Les coûts de fabrication de l'entreprise pour les appareils Bolawrap en 2023 ont totalisé 2,8 millions de dollars.

• Coût de production par unité: 475 $
• Volume de production annuel: 5 900 unités
• Fabrication des frais généraux: 620 000 $

Investissements de vente et de marketing

Les dépenses de vente et de marketing pour 2023 ont atteint 3,6 millions de dollars.

Canal de marketing	Investissement	Pourcentage de budget
Marketing numérique	1,44 million de dollars	40%
Salons du commerce	$720,000	20%
Ventes directes	1,44 million de dollars	40%

Développement du programme de formation

Les coûts du programme de formation pour l'application des lois et le personnel de sécurité en 2023 s'élevaient à 850 000 $.

• Développement des modules de formation en ligne: 350 000 $
• Sessions de formation en personne: 500 000 $

Surfaçon administratives et opérationnelles

Les dépenses administratives et opérationnelles totales pour 2023 étaient de 2,1 millions de dollars.

Catégorie de dépenses	Coût	Pourcentage du total
Salaires du personnel	1,26 million de dollars	60%
Installations de bureau	$420,000	20%
It et infrastructure	$420,000	20%

Wrap Technologies, Inc. (Wrap) - Modèle d'entreprise: Strots de revenus

Ventes directes de produits des appareils Bolawrap

Au quatrième trimestre 2023, Wrap Technologies a déclaré des ventes d'appareils de 2 987 000 $, ce qui représente une augmentation de 22% par rapport au trimestre précédent.

Produit	Prix ​​de vente moyen	Volume des ventes annuelles
Bolawrap 100	$1,299	1 850 unités
Bolawrap 150	$1,599	1 250 unités

Frais de formation et de certification

Les revenus de formation pour 2023 ont totalisé 687 450 $, avec un prix moyen du cours de certification de 1 250 $ par participant.

• Programmes de formation aux forces de l'ordre: 312 participants
• Formation à la sécurité privée: 185 participants
• Formation tactique spécialisée: 76 participants

Ventes de cartouches de remplacement

Les ventes de cartouches en 2023 ont atteint 1 456 000 $, avec un prix de cartouche moyen de 89 $.

Type de cartouche	Prix	Volume des ventes annuelles
Cartouche standard	$89	16 350 unités
Cartouche à gamme étendue	$129	6 750 unités

Contrats de maintenance et de soutien

Les revenus annuels du contrat de maintenance pour 2023 étaient de 523 700 $, avec une valeur de contrat moyenne de 3 950 $.

Contrats d'approvisionnement gouvernementaux et institutionnels

Les revenus totaux du gouvernement et des contrats institutionnels pour 2023 étaient de 4 236 000 $, avec des contrats couvrant 47 agences différentes de l'application des lois.

Type de contrat	Valeur totale du contrat	Nombre de contrats
Application de la loi de l'État	$2,145,000	22 contrats
Services de police municipaux	$1,456,000	18 contrats
Agences fédérales	$635,000	7 contrats

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.