22% Year-Over-Year Operating Expense Reduction Positions Wrap Technologies for Growth and Profitability in 2025
Wrap Technologies, Inc. (WRAP)
NASDAQ:AMEX Investor Relations:
wrapmail.com/aboutus.html
Company Research
Source: GlobeNewswire
TEMPE, Ariz., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in innovative public safety solutions, today announced key financial and operational achievements for the third quarter ended September 30, 2024. Key Highlights: Significant Cost Reductions: Operating expenses slashed by 22% year-over-year, falling to $3.9 million from $4.9 million in Q3 2023, reflecting efficiency gains.Monetizing Inventory: Ongoing cost-saving measures and paused manufacturing have allowed the Company to focus on monetizing a $25 million finished goods inventory and reinforce a leaner operational model.Increase in Reported Subscription Services: Subscription services provide customers with technology through 2027.Major Cash Flow Improvements: Net cash used in operations dropped dramatically by $6.0 million during the nine months ended September 30, 2024, down to $6.9 million compared to $12.9 million in the same period in 2023, showca
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News
- Policereports.ai Announces New Partnership with Kevin Mullins, Former CEO of Wrap Technologies, to Revolutionize Law Enforcement Reporting [Yahoo! Finance]Yahoo! Finance
- Wrap Technologies regains Nasdaq listing requirements compliance [Seeking Alpha]Seeking Alpha
- Wrap Technologies, Inc. Regains Nasdaq Listing Requirements ComplianceGlobeNewswire
- Wrap Technologies Second Quarter 2024 Earnings: US$0.02 loss per share (vs US$0.12 loss in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
- Investors in Wrap Technologies (NASDAQ:WRAP) have unfortunately lost 78% over the last three years [Yahoo! Finance]Yahoo! Finance
WRAP
Sec Filings
- 11/15/24 - Form 8-K
- 11/14/24 - Form 10-Q
- 11/12/24 - Form ARS
- WRAP's page on the SEC website