Wrap Technologies reports record Q4 revenue of $3.59M, net loss improves 33% YoY

● Net revenue increased 47% to $3.59 million from $2.45 million in the prior year period. The increase in net revenue was primarily due to an increase in sales highlighted by record deals in the Americas and the EMEA region. Americas revenue grew 282% to $2.0 million from $0.5 million in the prior year period, while international revenue decreased 16% to $1.6 million from $1.9 million in the prior year period. ● Gross profit improved to $1.70 million (47% of net revenue), a 130 year-over-year increase from $0.74 million (30% of net revenue) in the prior year period. The increase in gross profit and gross margin was primarily the result of improved traction and improved pricing on the BolaWrap 150 product as well as increased efficiencies in the costs associated with the production of the BolaWrap 150 as compared to the BolaWrap 100 in the prior year period. ● Sales, general and administrative (SG&A) expense increased $0.37 million, or 9%, to $4.43 million from $4.07 million in the prio

Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in innovative public safety technologies and services, today announced financial and operating results for the fourth quarter and full year ended December 31, 2022.