Q1 2025 Financial Results:

* Cash increased to $6.2 million, up from $3.6 million in Q1 2024.

* Margins increased over 21 points from 56.6% in Q1 2024 to 77.8% in Q1 2025, with cost of revenue decreasing 73.4%, from $640 thousand to $170 thousand, respectively.

* Operating loss improved 5.2%, from $(4.1) million in Q1 2024 to $(3.9) million in Q1 2025.

* Q1 2025 revenue was $765 thousand.

* Net income was $109 thousand in Q1 2025 compared to $117 thousand in Q1 2024.

Recent Operational Highlights:

* Wrap’s revamped training and learning management system is expected to launch soon.

* Customer reports show increased BolaWrap deployments and shifts in policies regarding costly effects of higher uses of force.

* Departments with dedicated Crisis Intervention Teams report increased usage in mental health crises and response to Medical Behavioral Emergencies.

* The company signed and executed a sales and marketing partnership that provides coverage in the U.S. public safety market and federal government.

* Wrap’s move to the Virginia manufacturing facility is complete and operations are substantially ready.

* Wrap completed the acquisition of W1 Global, LLC, adding a managed services and consulting firm led by former law enforcement and intelligence professionals.

* The company expanded its leadership with the addition of Joseph Bonavolonta and Rob Heuchling to scale managed services.

* The company appointed Stephen M. Renna to lead international growth and financing strategy.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions combining non‑lethal tools, training and technology. Its BolaWrap® device provides officers with a safer way to restrain individuals by deploying light, sound and a Kevlar tether. Wrap Reality™ VR is an immersive training simulator, and Wrap’s Intrensic solution is an advanced body‑worn camera and evidence management platform.