WRAP TECHNOLOGIES Business Summary

Wrap Technologies, Inc. (WRAP) operates as a global public safety technology firm specializing in non-lethal law enforcement solutions. The company has strategically pivoted from a hardware-centric sales model to a recurring, subscription-based ecosystem known as the WrapReady platform. Revenue is generated through three primary segments: Product Sales, comprising the patented BolaWrap 150 remote restraint device and high-margin single-use cassettes; Technology-Enabled Services, which includes the WrapReality virtual reality training simulator and WrapVision body-worn camera solutions; and Managed Services, bolstered by the 2025 acquisition of W1 Global to provide comprehensive technology deployment and consulting. Wrap positions itself as a disruptive, "no-harm" alternative to industry titan Axon Enterprise, Inc., as well as competitors like Outdoor (POWW) and AMMO, Inc. (POWWP), by focusing on pre-escalation and de-escalation tools that avoid the pain-based compliance associated with traditional electronic control devices. The company was founded by Scot Cohen, Elwood "Woody" Norris, and James A. Barnes. Leadership is currently spearheaded by CEO and Executive Chairman Scot Cohen, a veteran of institutional asset management and capital markets who has led over $90 million in financing for the firm. Jared Novick serves as President and Chief Operating Officer, overseeing the company's 2025 manufacturing relocation to Virginia and its expansion into federal government contracting. The board of directors features high-profile figures including John D. Shulman, founder of Juggernaut Capital Partners and a substantial investor; Vice Admiral (Ret.) Timothy Szymanski, a former Navy SEAL commander; and Rajiv Srinivasan, a technology executive with a background in cybersecurity and military service. This leadership team is focused on scaling domestic production and advancing R&D programs through strategic private placements, including a $5 million raise in early 2026.