Quarterly ResultMay 13, 2026, 05:12 PM
WRAP Q1 Revenue +45% to $1.11M; Net Loss Widens to $4.54M
AI Summary
WRAP Technologies reported a significant increase in total revenues for the first quarter of 2026, rising 45.2% to $1.11 million, primarily driven by a 185.8% surge in product sales. Despite this revenue growth and an improved operating cash flow, the company's net loss widened substantially to $4.54 million, compared to a net income of $109 thousand in the prior year, largely due to increased operating expenses and the absence of a large warrant liability gain. The company's cash position improved to $7.26 million, bolstered by $5.10 million in financing activities, including a $5.00 million private placement.
Key Highlights
- Total revenues increased 45.2% to $1.11 million for the three months ended March 31, 2026.
- Product sales surged 185.8% to $883 thousand in Q1 2026 compared to Q1 2025.
- Net loss widened to $4.54 million in Q1 2026 from a net income of $109 thousand in Q1 2025.
- Net loss per basic and diluted share was $(0.09) for the first quarter of 2026.
- Cash and cash equivalents rose to $7.26 million as of March 31, 2026, from $3.47 million at December 31, 2025.
- Net cash used in operating activities decreased to $(1.25) million in Q1 2026 from $(3.07) million in Q1 2025.
- The company received $5.00 million from a private placement in Q1 2026.
- A gain on lease termination of $227 thousand was recognized in Q1 2026.
Price Impact
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