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MIAMI - Wrap Technologies, Inc. (NASDAQ:WRAP), a $79.5 million market cap company whose stock has surged over 22% in the past week, introduced its new 1KC: Kinetic Anti-Drone Cassette on Thursday, expanding its product line beyond law enforcement tools into the counter-unmanned aerial systems (C-UAS) market. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.65.
The 1KC builds on the company's existing BolaWrap technology, using tether systems designed to disable drones in flight. According to the company, the cassette can be deployed from handheld launchers or integrated with unmanned aerial systems (UAS) and ground vehicles.
The device is designed to offer multiple deployment options across air-to-air and surface-to-air scenarios. Wrap Technologies claims a single UAS equipped with multiple 1KC cassettes could potentially neutralize several adversarial drones during a mission.
"By extending our patented BolaWrap technology platform, we believe Wrap may be positioned to pursue new market opportunities," said Jared Novick, President and Chief Operating Officer of Wrap, in a press release statement.
The company indicated the 1KC aligns with the Department of Defense's framework for drone defense and could provide a kinetic defeat layer at squad, patrol, or base-defense levels.
Wrap Technologies highlighted several potential advantages of the new product, including platform-agnostic deployment, expanded area of effect with adjustable entanglement coverage, multi-target capability, and a compact design.
The company noted that the cassette is designed to retroactively fit and be deployed from existing BW150 devices, potentially giving users interchangeable options based on specific use cases.
Wrap Technologies currently offers several public safety products including the BolaWrap 150, a non-lethal restraint device used by law enforcement agencies in the U.S. and internationally, as well as virtual reality training systems and body-worn cameras. While the company appears overvalued according to InvestingPro's Fair Value analysis, investors can access detailed valuation metrics and 7 additional ProTips through an InvestingPro subscription, including comprehensive analysis of the company's growth potential and financial health.
In other recent news, Wrap Technologies reported its Q2 2025 earnings, revealing a negative earnings per share of -0.07 USD and revenue of 1,000,000 USD. The company emphasized a strategic shift towards new product offerings and cost reductions, which contributed to improvements in operating efficiency and liquidity. Additionally, Wrap Technologies announced a $4.5 million private placement with institutional investors to support its counter-drone technology programs and expand law enforcement offerings. This private placement includes 4,500 shares of Series B Preferred Stock, convertible into 3 million common shares, and warrants to purchase an additional 3 million shares.
Wrap Technologies also introduced a new digital training platform called WrapTactics, aimed at addressing skill degradation among law enforcement officers. The platform offers short-form training modules focused on maintaining critical policing skills. Moreover, the company created a new Series B Convertible Preferred Stock following a private placement agreement with accredited investors. This agreement allows for the conversion of preferred stock into common shares and includes warrants for additional stock purchases, pending stockholder approval. These developments indicate Wrap Technologies' ongoing efforts to innovate and expand its market presence.
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