China smartphone shipments slumped in June on inventory overhang: Jefferies
MIAMI - Wrap Technologies, Inc. (NASDAQ: WRAP), a developer of public safety technologies with a market capitalization of $73 million, has highlighted the potential of its BolaWrap device in light of a recent Supreme Court ruling that could change the landscape of law enforcement liability. The company’s stock, currently trading at $1.45, has seen a challenging year with a decline of nearly 32% year-to-date, according to InvestingPro data. The court’s decision in Barnes v. Felix broadens the scope of officer accountability by including the totality of circumstances in use-of-force cases, particularly focusing on actions taken during the pre-escalation period.
The BolaWrap 150, a non-lethal tool designed to restrain individuals without pain before a situation escalates, is cited by Wrap Technologies as a solution that aligns with the court’s expanded analysis. The device deploys a Kevlar tether to safely immobilize a subject from a distance, aiming to provide law enforcement officers with an alternative to higher-force options.
Wrap Technologies’ CEO, Scot Cohen, issued a letter to stockholders claiming that the BolaWrap has become the most-used tool on the belt in agencies that have fully integrated it with proper training and policy. Cohen suggests that the BolaWrap 150 offers a safer and constitutionally sound option for officers, in line with the Supreme Court’s decision.
The company has filed federal trademark applications for the terms "Pre-Escalation" and "WrapWindow," which define a new phase in the use-of-force continuum and a crucial time frame for intervention, respectively. These concepts are part of Wrap Technologies’ strategy to establish a new standard in use-of-force decision-making. InvestingPro analysis indicates that while the company maintains a strong balance sheet with more cash than debt, its overall financial health score remains in the weak category, suggesting challenges ahead in executing its strategic initiatives.
Wrap Technologies is preparing to scale its programs, including WrapPlus, WrapTactics training, and WrapReady, to meet growing demand and drive deployments of the BolaWrap. The company asserts that existing BolaWrap programs will get priority access to this enhanced level of support.
The BolaWrap is part of Wrap Technologies’ portfolio of public safety solutions, which also includes Wrap Reality, a virtual reality training simulator, and Wrap Intrensic, an advanced body-worn camera and evidence management system.
The information in this article is based on a press release statement from Wrap Technologies, Inc. and does not include any speculative content or endorsements of the company’s claims.
In other recent news, Wrap Technologies Inc. reported its Q1 2025 earnings, showing a revenue of $765,000 and a net income of $109,000, slightly down from $117,000 in the same quarter last year. The company highlighted a significant improvement in margins, increasing to 77.8%, and a notable decrease in the cost of revenues by 73.4%. Cash reserves also grew to $6.2 million. Wrap Technologies is actively pursuing international expansion, with a focus on the Chilean market, where they anticipate full deployment with the Chilean Carabineros. The company’s strategic initiatives include a move to a new manufacturing facility in Virginia and efforts to engage with political and community leaders to drive sales. Additionally, Wrap Technologies is exploring financing solutions through the Ex-Im Bank to support its international sales strategy. Despite facing challenges in LAPD testing, the company is optimistic about its international opportunities, with multiple pilots underway in different countries.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.