WRAP TECHNOLOGIES, INC. Q1 FY26 Results

Summary

Wrap Technologies, Inc. announced strong financial and operating results for the first quarter ended March 31, 2026, with revenue increasing 45% year-over-year to $1.1 million. The company reported total bookings of $3.2 million and a significant 186% rise in product sales to $0.9 million, driven by demand for its BolaWrap 150. Despite a decrease in gross margin to 62% from 78% in the prior year, cash used in operating activities improved by 59% to $(1.2) million. Management expressed confidence in achieving approximately 100% revenue growth for 2026, citing accelerating customer adoption and strategic advancements in drone and counter-UAS technologies.

Key Highlights

1. 1

   Wrap Technologies reported a 45% increase in revenue, reaching $1.1 million for the first quarter ended March 31, 2026, compared to $0.8 million in the prior-year period.

2. 2

   Total bookings for Q1 2026 amounted to $3.2 million, including approximately $1.1 million from domestic sales and $2.1 million from international sales.

3. 3

   Product sales surged by 186% to $0.9 million in the first quarter, driven by increased domestic and international demand for the BolaWrap 150 product line.

4. 4

   The company secured a significant federal adoption milestone by receiving a purchase order for BolaWrap technology from the U.S. Department of Homeland Security.

5. 5

   Gross margin for the quarter was 62%, a decrease from 78% in the prior-year period, while gross profit increased 16% to $0.7 million.

6. 6

   Cash used in operating activities improved substantially by 59% to $(1.2) million, compared to $(3.1) million in the prior-year period.

7. 7

   Wrap secured a binding pre-order for drone and counter-drone systems, supporting expansion across the United Kingdom and Europe, and continues to target approximately 100% revenue growth in 2026.