WRAP Technologies (WRAP) Misses Q3 EPS by 1c

WRAP Technologies (NASDAQ: WRAP) reported Q3 EPS of ($0.15), $0.01 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $1.8 million versus the consensus estimate of $2.35 million.

“During the third quarter, we continued to build the foundation for the future of law enforcement worldwide. This foundation was further solidified recently with the launch of the first major upgrade to our flagship product – the BolaWrap 150. This is a significant advancement as we incorporated specific feedback from officers using our product in the field. We believe our newest model will be attractive to new agencies and those who have already invested in safer policing with the original BolaWrap 100. We also believe the transition to the new model impacted our revenue growth in the third quarter as some agencies may have delayed purchasing decisions pending the 150’s launch. However, as we demonstrate the BolaWrap 150, we anticipate that demand will grow. The recent international order demonstrates continued progress on our long-term growth plan.”

For earnings history and earnings-related data on WRAP Technologies (WRAP) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Robinhood prices $2B convertible notes offering due 2029
• Morgan Stanley sees little room left in steel rally, cuts Cleveland-Cliffs rating