Wrap Technologies Q1 Revenue Up 45% to $1.1M, Product Sales Surge 186%
Wrap Technologies posted Q1 revenue of $1.1 million, up 45% year-over-year, driven by a 186% surge in BolaWrap 150 sales. It secured $3.2 million in bookings, cut cash burn by 59%, reaffirmed a 100% revenue growth goal for 2026 and expanded deployments in India, Panama, Brazil, Malta and the UK.
1. Q1 Financial Results
Wrap Technologies reported Q1 2026 revenue of $1.1 million, a 45% year-over-year increase, spearheaded by a 186% surge in BolaWrap 150 device sales. The period also saw $3.2 million in bookings and a 59% reduction in cash burn, reflecting improved operational efficiency.
2. Growth Targets and Outlook
Management reaffirmed its goal to double annual revenue in 2026, citing strengthened pipeline visibility and robust sales momentum. Leadership emphasized continued sales force expansion and targeting of high-value contracts to sustain growth.
3. International Expansion
International adoption accelerated with new deployments of BolaWrap 150 devices across India, Panama, Brazil, Malta and the UK. These strategic market entries are expected to diversify revenue streams and bolster global brand recognition.
4. Federal and Technology Initiatives
The company is pursuing federal market opportunities, aiming to secure contracts with U.S. agencies, and is developing drone counter-drone solutions to complement its non-lethal offerings. This technology push could open new defense and security verticals in the coming quarters.