Quarterly ResultMay 13, 2026, 04:01 PM
Wrap Technologies Q1 Revenue +45% to $1.1M; Product Sales +186%
AI Summary
Wrap Technologies, Inc. announced its first quarter 2026 financial results, reporting a 45% increase in revenue to $1.1 million and a 186% surge in product sales to $0.9 million. Bookings reached $3.2 million, reflecting strong global demand. Despite a net loss of $(4.5) million, the company highlighted strategic milestones including a purchase order from the U.S. Department of Homeland Security, a drone system pre-order for the UK and Europe, and a strategic agreement in India. Wrap Technologies also improved cash used in operating activities by 59% and reiterated its target of approximately 100% revenue growth for 2026.
Key Highlights
- Revenue increased 45% to $1.1 million compared to Q1 2025.
- Product sales grew 186% to $0.9 million, driven by BolaWrap 150 demand.
- Bookings totaled $3.2 million, with $1.1 million domestic and $2.1 million international.
- Net loss was $(4.5) million, compared to net income of $0.1 million in Q1 2025.
- Cash used in operating activities improved 59% to $(1.2) million.
- 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.
- Entered a strategic agreement in India covering BolaWrap, WrapReality, and DFR-X systems.
- Targeting approximately 100% revenue growth in 2026.