Wrap Technologies, Inc. (NASDAQ: WRAP) is a public safety technology and services company dedicated to providing advanced solutions for law enforcement, corrections, and security agencies. The company's core product, the BolaWrap 150, is a hand-held remote restraint device that deploys a Kevlar cord to temporarily restrain a subject from a ...Wrap Technologies, Inc. (NASDAQ: WRAP) is a public safety technology and services company dedicated to providing advanced solutions for law enforcement, corrections, and security agencies. The company's core product, the BolaWrap 150, is a hand-held remote restraint device that deploys a Kevlar cord to temporarily restrain a subject from a distance of 10-25 feet, reducing the need for physical force. This tool aims to de-escalate confrontations and improve safety for both officers and civilians. The company operates globally, serving customers across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. As of the latest data, Wrap Technologies has 25 full-time employees and is headquartered in Miami, Florida, with an office in Tempe, Arizona. Financially, the company has a market capitalization of approximately $104 million and generates revenue of around $6.1 million TTM, though it is currently unprofitable with negative EBITDA and net margins. Key financial metrics show a gross profit margin of 63.6%, but high operating expenses (SG&A at 282.8% of revenue) and R&D investments (16.3% of revenue) contribute to significant net losses. The company maintains a strong balance sheet with $8.6 million in cash and a current ratio of 8.04. Under the leadership of founder and CEO Scot Cohen, who has raised over $100 million in financing, Wrap is transitioning from a single-product company to a platform provider, integrating tools, training, and policy through its Non-Lethal Response™ system and the WrapShield™ autonomous platform. Despite financial challenges, the company remains committed to expanding its product line and market reach, aiming to empower public safety professionals with effective, less-lethal options.
Operator: Good day, and thank you for standing by. Welcome to the Wrap Technologies, Inc. Q2 2026 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Louis Springer.
Louis Springer: Thank you. Good afternoon, and welcome to Wrap Technologies Second Quarter 2026 Earnings Conference Call. I'm Louis Springer, Vice President of Finance. Joining me today is Scot Cohen, Chief Executive Officer; and Jared Novick, President and Chief Operating Officer. We appreciate your time and continued interest in Wrap. Before we begin, I want to remind you that certain statements and assumptions in this conference call contain or are based upon forward-looking information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the federal securities regulations. Please review the forward-looking and cautionary statements section at the end of our second quarter 2026 earnings release for various factors that could cause actual results to differ materially from forward-looking statements made during our call today. Such forward-looking statements are subject to numerous assumptions, uncertainties and known or unknown risks, which could cause actual results to differ materially from those anticipated. These factors are more fully discussed in the company's filings with the Securities and Exchange Commission. The forward-looking statements included in this conference call are only made as of the date of this call, and the company is not obligated to publicly update or revise them. Statements made during this call do not constitute an offer to sell or a solicitation of an offer to buy any securities. Securities will be offered only by means of a registration statement and prospectus, which can be found at www.sec.gov. Also, during today's call, we will discuss certain non-GAAP financial measures, which we believe can be useful in evaluating the company's financial performance. Descriptions of those non-GAAP financial measures that we use and reconciliations of these measures to our results as reported in accordance with GAAP are detailed in our earnings release. Unless otherwise stated, all reported results discussed in this call will compare the second quarter ended June 30, 2026, to second quarter ended June 30, 2025. The earnings release will be available on the Financial Information section of our website at ir.wrap.com. In addition, a replay of this earnings call will be posted to our website after the call. I will now hand it over to Scot.
Scot Cohen: Thanks, Lou, and thank you, everybody, for joining the call today. We're coming off our best quarter in years. Revenue doubled quarter-over-quarter and we doubled compared to the second quarter last year. Operations continue to become more efficient. We're expanding sales. We productize our training. We're growing our BolaWrap …
