Le Sueur police department adopts BolaWrap technology in two-year study

MINNESOTA - The Le Sueur Police Department in Minnesota has entered a two-year partnership with Wrap Technologies, Inc. (NASDAQ:WRAP) to deploy the company’s BolaWrap 150 devices and WrapTactics training program, according to a press release issued Monday. The announcement comes as Wrap Technologies’ stock demonstrates strong momentum, with InvestingPro data showing a remarkable 21% gain in the past week and trading near its 52-week high of $2.87.

The agreement, part of Wrap’s WrapReady subscription-based platform, includes a structured research initiative focused on measuring the impact of the technology on line-of-duty injuries, use-of-force metrics, and operational costs. With a market capitalization of approximately $141 million and a healthy current ratio of 5.65, InvestingPro analysis indicates the company maintains strong liquidity to support its expansion initiatives.

Le Sueur, a city of approximately 4,000 residents, has invested in acquiring the devices, cassettes, and instructor training to integrate the tools into daily operations.

"Our department is committed to proactive community policing and officer safety," said Chief of Police Pilar Stier. "Participating in this study with WrapReady allows us to both serve our residents with innovative tools and contribute to national knowledge on what works best in the field."

The BolaWrap 150 is designed as a pre-escalation tool that deploys a restraint to help manage non-compliant subjects without causing pain. Unlike devices that shock or incapacitate, it aims to provide officers with alternatives before resorting to higher-force options.

Jared Novick, President of Wrap, stated that the partnership would "generate valuable data that demonstrates how pre-escalation technology and training can reduce injuries, lower costs, and ultimately improve community trust."

The Le Sueur Police Department joins over 1,000 agencies across the United States and 60 countries worldwide that have adopted the BolaWrap technology, according to the company.

The partnership represents part of Wrap’s strategy to expand adoption while collecting real-world data on the effectiveness of its products in law enforcement settings. While the company reported $3.24 million in revenue over the last twelve months, InvestingPro analysis suggests the stock is currently trading above its Fair Value. Investors can access 12 additional exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research report, available among 1,400+ top stocks covered by the platform.

In other recent news, Wrap Technologies has made several strategic moves to bolster its position in the public safety sector. The company announced a partnership with Carahsoft Technology Corp. to distribute its public safety solutions to government agencies through Carahsoft’s reseller network and procurement contracts. This agreement will allow Wrap Technologies’ WrapPlus subscription to be accessible to the public sector via various contract vehicles. Additionally, Wrap Technologies has appointed Braden Frame as Chief Commercial Officer and Joseph Cameron as Chief Revenue Officer, both bringing extensive experience in public safety and technology to their respective roles. These appointments are part of the company’s strategy to expand beyond its BolaWrap device to include subscription-based services and counter-drone solutions.

Moreover, Wrap Technologies has submitted its counter-drone system, Project Merlin-1KC, for the U.S. Army’s xTechCounter Strike competition. This system is designed to physically disable small hostile drones without relying on electronic warfare. Lastly, the company has partnered with STORM Training Group to integrate defensive tactics training with its BolaWrap device deployment. This collaboration aims to enhance the training available through Wrap’s digital learning platform, WrapTactics, providing law enforcement officers with techniques to manage subjects safely.

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