Wrap Technologies, Inc. (WRAP) reported a net loss of $4.5 million for the first quarter of 2026, translating to a loss of 9 cents per share, compared to a net income of $0.1 million in the prior-year period. Revenue reached $1.1 million, a 45% increase from $0.8 million year-over-year, primarily driven by a 186% surge in product sales, totaling $0.9 million.
Operating expenses rose by 21% to $5.5 million, largely due to increased share-based compensation costs. The company ended the quarter with $7.3 million in cash and cash equivalents, up from $3.5 million at the end of 2025. Despite operating losses widening to $4.8 million, Wrap Technologies maintained its goal of achieving 100% revenue growth in 2026, buoyed by an improving sales pipeline and expansion into international markets.
Key bookings amounted to $3.2 million during the quarter, reflecting strong order momentum and growing adoption of non-lethal public safety solutions. The company is focusing on advancing its product offerings, including the BolaWrap devices and subscription-based software revenues.
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