WRAP TECHNOLOGIES, INC.

Wrap Technologies, Inc. announced plans to expand its drone payload and autonomous response initiatives, developing directional light, laser dazzler, and sensory deterrence capabilities for unmanned systems. This strategic move aims to integrate advanced sensory, restraint, and escalation-management technologies into public safety systems. The company believes these drone-enabled solutions will support early intervention, perimeter control, and crowd management, potentially alongside its BolaWrap remote restraint technology, to reduce escalation and minimize injury risks. This expansion builds upon WRAP's existing investments in non-lethal restraint systems, virtual reality training, and counter-UAS initiatives.

Wrap Technologies announced the development of a new low-light training expansion for its WrapReality® virtual reality platform. This enhancement aims to provide more realistic training for officers in nighttime decision-making, directional light use, communication, and force-option judgment. The expansion will include 15 to 20 day-to-night conversions of existing scenarios, a new handheld directional light accessory, and expanded support for weapon-mounted lights. The company believes this addresses a critical training gap in public safety.

Wrap Technologies announced that William Paterson University (WPU) purchased its WrapReality virtual reality training system. This acquisition will support WPU's Criminology and Criminal Justice Program by providing students with immersive scenarios to practice communication, de-escalation, and ethical reasoning. This sale marks a strategic expansion for Wrap, moving WrapReality adoption beyond traditional law enforcement into adjacent markets like higher education, where safety and preparedness training are critical.

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.

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.

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.

Wrap Technologies, Inc. announced its participation in a European law enforcement event in Italy on May 13-14, 2026. Hosted by Italian partner Defcon Services, the event will introduce public safety leaders to Wrap's Non-Lethal Response ecosystem, including BolaWrap and WrapReality. The company views Europe as a key strategic market for modernizing response models and reducing reliance on higher levels of force, with approximately 200 attendees expected.

Wrap Technologies, Inc. announced an expanded strategic partnership with WOFT, LLC to develop a new category of proprietary directional light-based safety products and associated training programs. This collaboration aims to broaden Wrap's addressable market beyond traditional law enforcement into consumer, private security, healthcare, and personal safety environments. The initiative supports Wrap's strategy of building a scalable Non-Lethal Response (NLR) ecosystem centered on tools, training, and policy, with a focus on early intervention and awareness through a hybrid training model.

Wrap Technologies, Inc. announced the renewal of a five-year contract with the Las Vegas Metropolitan Police Department (LVMPD) Academy. The agreement ensures continued deployment and lifecycle support for Wrap's WrapReality virtual reality training platform, including hardware and software assurance services. This renewal signifies LVMPD's strategic recommitment to immersive scenario-based training for enhancing decision-making, de-escalation, and tactical judgment.

Wrap Technologies, Inc. announced that the University of Pittsburgh Medical Center (UPMC) Healthcare System has deployed its WrapReality™ virtual reality training systems. This multi-site program, initiated in Q1 2026, spans facilities across Pennsylvania and aims to enhance security training for UPMC's over 800 security professionals. This deployment marks a significant expansion for Wrap into the hospital and healthcare sector, a market facing growing demand for advanced security training platforms.