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MIAMI - Wrap Technologies, Inc. (NASDAQ:WRAP), a $79 million market cap company whose stock has declined 26% year-to-date, announced Tuesday the appointment of Gerald "Jerry" Ratigan as its new Chief Financial Officer. Ratigan brings over 20 years of financial leadership experience across public companies, capital markets, and investment banking.
Most recently, Ratigan served as Senior Vice President of Accounting and Controls and later as Acting Chief Financial Officer at The Gearbox Entertainment Company, where he led financial operations through an acquisition by Take-Two Interactive.
His previous roles include senior financial positions at Entertainment Benefits Group (a Creative Artists Agency company), MoneyOnMobile, Inc. (MOMT), Prestige Cruise Holdings, and Cooper Industries. Ratigan began his career at KPMG and Grant Thornton.
"We believe Jerry’s operational experience in capital markets and public accounting make him the right choice to align Wrap’s financial operations with its long-term strategy," said Scot Cohen, Chief Executive Officer of Wrap, according to the press release.
The company also announced the promotion of Louis Springer to Vice President of Finance. Springer previously served in Corporate Development and has been instrumental in implementing cost-cutting initiatives over the past 18 months.
Wrap Technologies, which develops non-lethal tools for law enforcement, including its flagship BolaWrap® 150 device, stated that these appointments come as the company positions itself for "accelerating adoption and growing market interest." While the company maintains a strong balance sheet with more cash than debt, InvestingPro analysis indicates a WEAK overall Financial Health Score of 1.36, suggesting significant room for operational improvement. Investors can access the complete financial health analysis and 6 additional ProTips through InvestingPro’s comprehensive research report.
Ratigan holds a Bachelor of Business Administration in Accounting and Finance from the University of Miami and an MBA in Data Analytics from Louisiana State University-Shreveport. He is a Certified Public Accountant in Texas and holds several other professional certifications.
The information in this article is based on a press release statement from Wrap Technologies.
In other recent news, Wrap Technologies Inc. reported its Q1 2025 financial results, showcasing strategic growth and financial improvements. The company achieved a revenue of $765,000, although it saw a slight decrease in net income to $109,000 compared to $117,000 in the same quarter last year. Notably, Wrap Technologies increased its cash reserves to $6.2 million, while margins improved significantly to 77.8%. The company is also focusing on international expansion, with plans underway in Chile. Wrap Technologies is addressing operational efficiency by moving to a new manufacturing facility in Virginia. Additionally, the company is scaling its programs, including WrapPlus and WrapTactics training, to meet growing demand for its BolaWrap device. In light of these developments, Wrap Technologies is positioning itself as a leader in law enforcement technology.
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