Wrap Technologies, Inc. reported a total revenue of $5.2 million for the fiscal year ending December 31, 2025, marking a 15.4% increase from $4.5 million in 2024. This growth was primarily driven by a significant rise in technology-enabled services revenue, which surged by 85% to $1.7 million, while product sales slightly declined by 2.3% to $3.5 million. The company experienced a net loss of approximately $10.3 million, an increase from a loss of $5.9 million in the previous year, attributed to lower non-cash income related to changes in the fair value of warrant liabilities and ongoing investments in product development and commercialization.
In terms of operational developments, Wrap Technologies has expanded its product offerings and market reach. The company launched WrapTactics™, a digital training platform, and WrapVision™, a body-worn camera solution, both aimed at enhancing law enforcement capabilities. Additionally, the acquisition of Intrensic in August 2023 added digital evidence management capabilities to its portfolio. The company also formed a new subsidiary, Wrap Federal, to better serve U.S. federal government clients, indicating a strategic shift towards federal contracts and defense markets.
Wrap Technologies reported a total employee count of approximately 25 as of December 31, 2025, reflecting a 32% increase from the previous year, with new hires concentrated in research and development, sales, and marketing. The company has shipped products to over 60 countries, with international sales expected to grow, although they remain subject to the timing of large orders and centralized procurement processes. The company’s backlog as of December 31, 2025, was approximately $209,000, primarily related to larger agency orders.
Looking ahead, Wrap Technologies anticipates continued demand for its integrated non-lethal solutions, driven by public expectations for accountability and proportional use of force in law enforcement. The company aims to expand agency-wide deployments of its products, particularly the BolaWrap device, while also increasing utilization of its training and subscription-based offerings. However, the company expects to continue incurring operating losses until it achieves sufficient scale and margin improvement to offset fixed costs. The outlook remains cautious, with revenue growth dependent on government budget cycles, procurement processes, and the availability of grant funding.
About WRAP TECHNOLOGIES, INC.
Wrap Technologies, Inc. develops public safety solutions including non-lethal restraint devices, virtual reality training platforms, and digital evidence management systems for law enforcement and security agencies worldwide. Its core products—BolaWrap remote restraint, Wrap Reality VR training, and Wrap Intrensic body-worn cameras—enhance safety, de-escalation, and accountability. Serving global police forces and correctional facilities, the company emphasizes innovation, training, and strategic partnerships to maintain competitive advantages in the public safety technology market.
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