Wrap Technologies Inc (NAS:WRAP)

Q1 2026 Wrap Technologies Inc Earnings Call Transcript

May 13, 2026 / 08:30 PM GMT

Release Date Price: $1.44 (+0.70%)

Transcript 10-Q8-K

Key Points

Positve

Wrap Technologies Inc (WRAP) reported a 45% year-over-year increase in total revenue for the first quarter, reaching $1.1 million.
Product sales surged by 186%, driven by increased domestic and international demand for the Bolerap 150 product line.
The company is expanding its international footprint, with growth in markets such as India, Panama, Brazil, Malta, and the UK.
Recurring revenue from subscription services like Rap Reality, Rap Tactics, and Rap Vision is steadily growing, contributing to a more stable revenue base.
Early commercial traction in drone and counter-drone solutions suggests potential for new market opportunities beyond the core handheld Bolerap platform.

Negative

Gross margin declined from 78% to 62% year-over-year, primarily due to the growth in lower-margin hardware product sales.
Technology-enabled services revenue decreased from $0.5 million to $0.2 million, reflecting a shift away from certain advisory and investigative services.
Operating expenses increased to $5.5 million from $4.5 million in the prior year, driven by investments in sales and market expansion.
The company continues to rely on higher diluted financing structures, which may affect shareholder value.
There is ongoing C-suite turnover, and the company is still in search of a CFO to strengthen its financial leadership.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WRAP.OQ - Wrap Technologies Inc
Q1 2026 Wrap Technologies Inc Earnings Call
May 13, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, and thank you for standing by.

Welcome to the RAP Technologies, Inc. First Quarter 2026 Earnings Conference Call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

Webcast viewers can type questions in at any time via the webcast Q&A function.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Lou Springer. Please go ahead.

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Unidentified_2 [2]
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