Wrap Technologies, Inc. (WRAP): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo da tecnologia de alto risco, a Wrap Technologies, Inc. (WRAP) surge como um inovador inovador, revolucionando as metodologias de segurança e restrição pessoal com seu dispositivo de bolawrap de ponta. Esta solução de engenharia de precisão oferece uma abordagem transformadora para intervenções críticas, fornecendo aos profissionais de aplicação da lei um não letal Alternativa que reduz drasticamente os confrontos físicos e possíveis lesões. Ao misturar perfeitamente a engenharia avançada com um profundo entendimento dos desafios operacionais, a Wrap Technologies está redefinindo o cenário de segurança pública e equipamentos de proteção pessoal.

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: Parcerias -chave

Agências policiais e departamentos de segurança

Parcerias de aplicação da lei primária:

Tipo de agência	Número de departamentos	Status de implantação
Departamentos de polícia	150+	Usuários ativos
Escritórios do xerife	37	Implantado
Polícia do campus	22	Implementado

Fabricantes de tecnologia e hardware

Colaborações de tecnologia estratégica:

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

Distribuidores e parceiros de vendas

Categoria de parceiro	Número de parceiros	Cobertura geográfica
Distribuidores nacionais	8	Estados Unidos
Distribuidores internacionais	3	América do Norte, Europa

Provedores de treinamento e certificação

Rede de Parceria de Treinamento:

• Centro de Treinamento Federal para Aplicação da Lei
• Associação Nacional de Oficiais Táticos
• Associação Internacional de Chefes de Polícia

Receita anual de parceria anual: US $ 4,2 milhões

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: Atividades -chave

Projetar e fabricar dispositivos de restrição Bolawrap

A Wrap Technologies se concentra na produção de dispositivos de restrição portátil Bolawrap 100 e Bolawrap 150. A partir do quarto trimestre de 2023, a empresa fabricou aproximadamente 4.500 unidades para agências policiais.

Modelo de produto	Capacidade de fabricação	Preço unitário
Bolawrap 100	2.700 unidades	US $ 999 por unidade
Bolawrap 150	1.800 unidades	US $ 1.199 por unidade

Pesquisa e desenvolvimento de tecnologia de restrição menos letal

A Wrap Technologies investiu US $ 3,2 milhões em P&D durante o ano fiscal de 2023, com foco em tecnologias avançadas de restrição.

• Tamanho da equipe de P&D: 12 engenheiros e pesquisadores
• Pedidos de patente arquivados: 6 em 2023
• Ciclo de melhoria da tecnologia: atualizações trimestrais

Marketing e vendas de equipamentos de proteção pessoal

A empresa gerou US $ 6,7 milhões em receita com as vendas da Bolawrap em 2023, com foco nos mercados de aplicação da lei.

Canal de vendas	Contribuição da receita	Penetração de mercado
Vendas diretas de aplicação da lei	US $ 4,5 milhões	67% do total de vendas
Vendas de distribuidores	US $ 2,2 milhões	33% do total de vendas

Fornecendo treinamento e apoio à aplicação da lei

A Wrap Technologies realizou 87 sessões de treinamento para agências policiais em 2023, cobrindo as técnicas de uso e implantação do uso de dispositivos Bolawrap.

• Sessões de treinamento concluídas: 87
• Agências treinadas: 42 diferentes organizações policiais
• Horário total de treinamento: 436 horas
• Custo de treinamento por sessão: US $ 2.500

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de Bolawrap

A partir de 2024, a Wrap Technologies detém 4 patentes ativas diretamente relacionado à tecnologia do dispositivo de restrição de Bolawrap. O dispositivo tem um Intervalo de 25 pés e pode implantar uma tecla Kevlar para restringir os sujeitos.

Portfólio de patentes para design de dispositivos de restrição

Categoria de patentes	Número de patentes	Status
Mecanismos de dispositivo de restrição	7	Ativo
Sistema de implantação	3	Ativo
Composição do material	2	Pendente

Engenharia e experiência técnica

A partir do quarto trimestre 2023, as tecnologias de envoltório empregadas 42 Profissionais de Engenharia e Técnico, com uma experiência média de 8,5 anos em campos relacionados.

Capacidades de fabricação

• Instalação de fabricação primária localizada em Las Vegas, Nevada
• Capacidade de produção anual de 10.000 unidades de Bolawrap
• ISO 9001: 2015 Sistema de Gerenciamento da Qualidade

Direitos de Propriedade Intelectual

O portfólio de propriedade intelectual total inclui 12 patentes ativas e 6 pedidos de patente pendente Em janeiro de 2024. Avaliação estimada de IP: US $ 4,2 milhões.

Tipo de ativo IP	Quantidade	Valor estimado
Patentes emitidas	12	US $ 3,1 milhões
Aplicações de patentes pendentes	6	US $ 1,1 milhão

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: proposições de valor

Alternativa não letal aos métodos de restrição tradicionais

A Wrap Technologies oferece o dispositivo Bolawrap 150, um dispositivo de restrição remota patenteada Isso lança um Kevlar Tether para envolver as pernas de um sujeito a até 25 pés de distância.

Especificação do dispositivo	Detalhes técnicos
Faixa	Até 25 pés
Material da corda	Kevlar
Método de implantação	Lançamento do projétil

Reduz confrontos físicos e lesões em potencial

A tecnologia Bolawrap fornece um Método de intervenção não violento isso minimiza o contato físico direto.

• Reduz o potencial de altercações físicas
• Limita o risco de lesão de oficial e sujeito
• Fornece mecanismo de restrição controlado

Fornece controle de distância segura para a aplicação da lei

A partir de 2023, a Wrap Technologies relatou implantação em mais de 900 agências policiais nos Estados Unidos.

Métrica de implantação	2023 dados
Agências de aplicação da lei	900+
Estados com implantações	45

Minimiza o risco de danos graves durante intervenções críticas

O dispositivo Bolawrap fornece um opção de restrição controlada Isso reduz o potencial de escalada.

• Evita o confronto físico direto
• Permite imobilização imediata do sujeito
• Oferece alternativa à força letal

Aprimora o oficial e a segurança do assunto durante os encontros

Tecnologias de envoltório relataram um Redução de 68% nos incidentes de uso da força nas agências utilizando o dispositivo Bolawrap.

Métrica de impacto de segurança	Percentagem
Redução de uso da força	68%
Taxa de conformidade de sujeitos	75%

Wrap Technologies, Inc. (WRAP) - Modelo de Negócios: Relacionamentos do Cliente

Suporte de vendas diretas para agências policiais

A Wrap Technologies mantém uma equipe de vendas dedicada direcionada às agências policiais em todo o país. A partir do quarto trimestre 2023, a empresa relatou 291 clientes da agência de aplicação da lei ativa.

Tipo de cliente	Número de agências	Taxa de penetração
Departamentos de Polícia Municipal	187	62%
Escritórios do xerife	64	22%
Aplicação da lei estadual	40	13%

Programas de treinamento e certificação

A Wrap Technologies fornece programas de treinamento abrangentes para o uso do dispositivo Bolawrap.

• Duração média do treinamento: 4 horas por agência
• Custo de treinamento: US $ 1.500 por sessão
• Programa de certificação online lançado em 2023
• Renovação de certificação necessária a cada 18 meses

Suporte técnico e consulta do produto

Canal de suporte	Tempo de resposta	Custo de suporte anual
Suporte telefônico	Dentro de 2 horas	$75,000
Suporte por e -mail	Dentro de 4 horas	$45,000
Consulta técnica no local	Dentro de 48 horas	$125,000

Mecanismos de envolvimento e feedback em andamento

As métricas de engajamento do cliente para 2023 incluem:

• Taxa de satisfação do cliente: 87%
• Pesquisas anuais de feedback do cliente conduzidas
• Reuniões trimestrais de revisão de desempenho com as principais contas
• Pontuação do promotor líquido (NPS): 64

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: canais

Equipe de vendas diretas

A partir de 2024, a Wrap Technologies mantém uma equipe de vendas direta dedicada focada nos mercados de aplicação da lei e segurança pública. A equipe consiste em aproximadamente 12 a 15 representantes de vendas especializados na distribuição de produtos Bolawrap.

Conferências e feiras de aplicação da lei

Tipo de evento	Participação anual	Alcance estimado
Conferências de aplicação da lei	8-10 eventos nacionais	3.500-4.500 representantes de agência em potencial
Feiras de segurança pública	5-7 exposições regionais	2.000-2.500 clientes em potencial

Plataforma de vendas on -line

A WRAP Technologies utiliza uma plataforma on -line dedicada para informações, demonstrações e compras diretas para agências autorizadas.

• Tráfego do site: aproximadamente 25.000 a 30.000 visitantes mensais
• Solicitações de demonstração online: 150-200 por mês
• Catálogo de produtos digitais com especificações detalhadas

Distribuidores autorizados

Categoria de distribuidor	Número de parceiros	Cobertura geográfica
Distribuidores de equipamentos de aplicação da lei	12-15 Parceiros nacionais	48 Estados Unidos contíguos
Distribuidores internacionais de defesa/segurança	6-8 Parceiros Internacionais	Canadá, Reino Unido, Austrália

Canais de compras governamentais

As tecnologias de envoltório se envolvem com as compras governamentais por meio de vários canais estruturados:

• Disponibilidade do contrato de cronograma da GSA
• Processos de licitação do governo estadual e local
• Agência Federal de Aplicação da Lei Compras Diretas

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

Agências policiais locais e estaduais

A partir de 2024, a Wrap Technologies estabeleceu parcerias com aproximadamente 200 agências de aplicação da lei local e estadual nos Estados Unidos. O dispositivo Bolawrap foi adotado por agências em Califórnia, Texas, Flórida e Nova York.

Estado	Número de agências	Taxa de adoção
Califórnia	62	31.5%
Texas	45	22.5%
Flórida	38	19%
Nova Iorque	33	16.5%

Departamentos federais de aplicação da lei

A Wrap Technologies garantiu contratos com várias agências federais, incluindo:

• Serviço de marechais dos EUA: 37 escritórios de campo usando Bolawrap
• Departamento de Segurança Interna: 24 unidades especializadas
• Federal Bureau of Prisons: 18 instalações

Organizações de segurança do campus

A partir de 2024, a Wrap Technologies implementou dispositivos Bolawrap em 89 departamentos de segurança do campus da faculdade e da universidade em 32 estados.

Tipo de instituição	Número de campi	Unidades médias implantadas
Universidades públicas	62	8-12 unidades por campus
Faculdades particulares	27	4-6 unidades por campus

Instalações correcionais

A Wrap Technologies implantou dispositivos Bolawrap em 145 instalações correcionais em todo o país, com presença significativa em:

• Prisões estaduais: 89 instalações
• Prisões do condado: 42 instalações
• Centros de detenção federais: 14 instalações

Empresas de segurança privada

No setor de segurança privada, a Wrap Technologies tem parcerias com 76 empresas de segurança, cobrindo:

• Empresas de segurança de eventos: 42 empresas
• Provedores de segurança corporativa: 22 empresas
• Serviços de segurança de alto risco: 12 empresas

Tipo de empresa de segurança	Número de empresas	Inventário médio de dispositivo
Segurança de eventos	42	15-20 unidades
Segurança corporativa	22	8-12 unidades
Segurança de alto risco	12	20-25 unidades

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Wrap Technologies relatou despesas de P&D de US $ 4,2 milhões, representando um aumento de 22% em relação ao ano anterior.

Ano fiscal	Despesas de P&D	Variação percentual
2022	US $ 3,45 milhões	-
2023	US $ 4,2 milhões	22%

Custos de fabricação e produção

Os custos de fabricação da empresa para dispositivos Bolawrap em 2023 totalizaram US $ 2,8 milhões.

• Custo de produção por unidade: US $ 475
• Volume anual de produção: 5.900 unidades
• Manufatura de sobrecarga: US $ 620.000

Investimentos de vendas e marketing

As despesas de vendas e marketing para 2023 atingiram US $ 3,6 milhões.

Canal de marketing	Investimento	Porcentagem de orçamento
Marketing digital	US $ 1,44 milhão	40%
Feiras	$720,000	20%
Vendas diretas	US $ 1,44 milhão	40%

Desenvolvimento do Programa de Treinamento

Os custos do programa de treinamento para o pessoal de aplicação e segurança da lei em 2023 totalizaram US $ 850.000.

• Desenvolvimento de módulos de treinamento on -line: US $ 350.000
• Sessões de treinamento pessoalmente: US $ 500.000

Overhead administrativo e operacional

As despesas administrativas e operacionais totais para 2023 foram de US $ 2,1 milhões.

Categoria de despesa	Custo	Porcentagem de total
Salários de pessoal	US $ 1,26 milhão	60%
Instalações de escritório	$420,000	20%
TI e infraestrutura	$420,000	20%

Wrap Technologies, Inc. (WRAP) - Modelo de negócios: fluxos de receita

Vendas diretas de produtos de dispositivos Bolawrap

No quarto trimestre 2023, a Wrap Technologies relatou vendas de dispositivos de US $ 2.987.000, representando um aumento de 22% em relação ao trimestre anterior.

Produto	Preço médio de venda	Volume anual de vendas
Bolawrap 100	$1,299	1.850 unidades
Bolawrap 150	$1,599	1.250 unidades

Taxas do programa de treinamento e certificação

A receita de treinamento para 2023 totalizou US $ 687.450, com um preço médio do curso de certificação de US $ 1.250 por participante.

• Programas de treinamento para aplicação da lei: 312 participantes
• Treinamento de segurança privada: 185 participantes
• Treinamento tático especializado: 76 participantes

Vendas de cartucho de substituição

As vendas de cartucho em 2023 atingiram US $ 1.456.000, com um preço médio de US $ 89.

Tipo de cartucho	Preço	Volume anual de vendas
Cartucho padrão	$89	16.350 unidades
Cartucho de alcance estendido	$129	6.750 unidades

Contratos de manutenção e suporte

A receita anual do contrato de manutenção para 2023 foi de US $ 523.700, com um valor médio de contrato de US $ 3.950.

Contratos de compras do governo e institucional

A receita total do contrato governamental e institucional para 2023 foi de US $ 4.236.000, com contratos abrangendo 47 agências policiais diferentes.

Tipo de contrato	Valor total do contrato	Número de contratos
Aplicação da lei estadual	$2,145,000	22 contratos
Departamentos de Polícia Municipal	$1,456,000	18 contratos
Agências federais	$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.