Wrap Technologies partners with K-Form for US manufacturing expansion

MIAMI - Wrap Technologies, Inc. (NASDAQ:WRAP) announced Friday a strategic partnership with K-Form Inc. to expand its supply chain and support production of non-lethal technology solutions. The company, currently valued at $110.23 million in market capitalization, has seen its stock climb 42.67% over the past six months despite facing revenue challenges.

Under the agreement, K-Form will provide precision design, prototyping, and production support for Wrap’s product ecosystem, including the BolaWrap 150, MERLIN-Interdictor, WrapReality Immersive VR Training, and WrapVision body-worn camera system. According to InvestingPro data, Wrap maintains a strong financial position with liquid assets exceeding short-term obligations, reflected in its robust current ratio of 5.65.

The partnership aims to reinforce Wrap’s initiative to onshore its supply chain and strengthen manufacturing within the United States, particularly at the company’s Southwestern Virginia manufacturing hub.

K-Form’s capabilities include rapid prototyping, circuit board printing, component assembly, and custom fabrication that complies with U.S. defense and government sourcing requirements.

"This partnership underscores Wrap’s expanding presence at the intersection of non-lethal response, human centered policy, public safety, robotics, and defense innovation," said the company in its press release statement.

Wrap Technologies develops and manufactures non-lethal public safety technologies, including the BolaWrap 150 device, which deploys a restraint to help law enforcement manage non-compliant subjects before resorting to higher-force options.

The company reports its BolaWrap technology is currently used by over 1,000 agencies across the U.S. and in 60 countries. Wrap’s product portfolio also includes virtual reality training platforms and body-worn camera systems.

The announcement comes as part of Wrap’s broader strategy to establish domestic manufacturing capabilities for its public safety and defense technology products.

In other recent news, Wrap Technologies reported its third-quarter earnings for 2025, showing a net loss with an earnings per share (EPS) of -$0.06 and revenue totaling $2 million. This performance reflects a challenging period for the company, despite efforts to introduce new products and expand strategically. The earnings results have contributed to a cautious outlook among investors, as the company did not provide clear future guidance. Analysts and investors are closely watching these developments, particularly given the negative earnings. While Wrap Technologies continues to innovate, the financial results have raised questions about its near-term prospects.

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