Wrap Technologies, Inc. (WRAP) Stock

Wrap Technologies, Inc. (WRAP) is a Industrials stock trading at $1.55 (as of 2026-08-20), with a market capitalization of $86.39M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Wrap Technologies, Inc., a public safety technology and services company, develops policing solutions to law enforcement and security personnel. The company develops BolaWrap 150, a hand-held remote restraint device that discharges a Kevlar cord to restrain noncompliant individuals from a range of 10-25 feet. It operates in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 2016 and is based in Tempe, Arizona.

Understand Wrap Technologies, Inc.: how it makes money

Wrap Technologies builds a hand-held remote restraint device (BolaWrap 150) and related policing solutions, selling to law enforcement and security personnel, and generating revenue tied to deployments and technology-enabled services.

The company appears to translate an installed base of Active BolaWrap Units Deployed into ongoing Technology-Enabled Services Revenue, with continued adoption signaled by the share of active units on BolaWrap 150 and measured operational performance (for example, BolaWrap 150 Field Success Rate).

Business quality (Weak): Operational execution shows measurable traction in deployments and field success, but reported profitability is still very weak (Operating margin_pct -429.3) despite a positive gross margin_pct of 62.2 for the latest period.

Bull case

Growing deployed footprint: The company reports 10,000 Active BolaWrap Units Deployed and 516 Law Enforcement Agencies Providing Data.
Strong field performance signal: BolaWrap 150 Field Success Rate is reported at 92 percent, and the Los Angeles Police Department pilot includes 500 BolaWrap 150 Devices.
Adoption of the newer device model: Percentage of Active BolaWrap Units on BolaWrap 150 is reported at 76 percent.
Training and enablement activity: Officers Certified to Train Their Departments is reported at 3,250, and United States Agencies Trained is reported at 800.

Bear case

Very large operating losses: Operating margin_pct is reported at -429.3, indicating substantial ongoing operating expense relative to revenue for the latest period.
Go-to-market effort may be costly: The company reports 240,000 Number of Promotional Discounts and Incentives and 1,000 Outbound Sales Calls, which can imply higher customer acquisition and commercial support costs.
Near-term sales visibility may be limited: BolaWrap Order Value is reported at 0.0B in the provided metrics set, which can indicate timing uncertainty in orders versus longer-cycle deployments and training.

Valuation — source: SEC EDGAR (first-party)
Price	$1.55
Market Cap	$86.39M
Price / Book	6.47
Price / Sales	15.22
FCF Yield	-10.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$4.67M
Net Margin	-221.2%
Revenue Growth (YoY)	102.8%
EPS Growth (YoY)	-42.9%
FCF Growth (YoY)	89.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	0.74 (distress)

Valuation vs Sector & Industry
Sector P/E (Industrials)	25.9
Industry P/E (Defense)	53.3

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($4.11M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Defense
CEO	Scot Jason Cohen
Employees	19
Country	US
IPO Date	2018-05-29

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.