Quarterly ResultMay 13, 2026, 04:27 PM
Wrap Technologies Q1 Revenue +45% to $1.1M; Bookings $3.2M
AI Summary
Wrap Technologies reported a 45% increase in Q1 2026 revenue to $1.1 million, with bookings totaling $3.2 million. Product sales surged by 186% to $0.9 million, driven by demand for BolaWrap 150. The company secured a DHS contract and significant drone/counter-UAS pre-orders, expanding its international presence. Despite an increased net loss, cash used in operating activities improved by 59%, and cash reserves strengthened. Wrap targets 100% revenue growth for 2026.
Key Highlights
- Revenue increased 45% to $1.1 million in Q1 2026 compared to the prior year.
- Bookings totaled $3.2 million, with $1.1 million domestic and $2.1 million international sales.
- Product sales grew 186% to $0.9 million, driven by BolaWrap 150 demand.
- Received a purchase order for BolaWrap technology from the U.S. Department of Homeland Security.
- Secured a binding pre-order for drone and counter-drone systems for the UK and Europe.
- Net loss was $(4.5) million, compared to net income of $0.1 million in the prior-year period.
- Cash used in operating activities improved 59% to $(1.2) million.
- Cash and cash equivalents were $7.3 million at March 31, 2026.
Price Impact
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