Wrap Q3 net revenue $1.70M, net loss $(3.87)M; record 54% gross margin; $1.5M EMEA order

WRAP TECHNOLOGIES, INC.

Net revenue $1.70M (-6% YoY); Americas sales grew 36% to $1.48M (company record).
Gross margin 54% (record), up from 39% in prior year; net loss $(3.87)M vs $(5.99)M.
Cash & equivalents $23.69M; reiterates cash flow break-even by end 2023, profitability by end 2024.
October: largest BolaWrap 150 order ever ($1.5M) from EMEA police agency; initial South America order for 120 devices.
Trained agencies >1,300 (+39% YoY); certified instructors ~4,400 (+36% YoY).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WRAP TECHNOLOGIES, INC. reported third fiscal quarter ended September 30, 2022 results: revenue $1.70 million. Guidance reaffirmed.

Period: third fiscal quarter ended September 30, 2022
Revenue: $1.70 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

end was $0.03 million which excludes the new significant EMEA order signed in October 2022 for $1.5 million. Third Quarter 2022 Financial Results ● Net revenue decreased 6% to $1.70 million from $1.81 million in the prior year period. The moderate decrease in net revenue was the result of differences in the timing of international orders. However, Americas sales

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WRAP TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001851734-22-000678

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