Overview

• Wrap Technologies Q3 revenue jumps to $1.5 mln vs $593,000 yr ago, driven by BolaWrap sales and services

• Company's Q3 gross margin expanded to 59% from 40%

• Wrap Technologies reported Q3 net loss with EPS of -$0.06

Outlook

• Company did not provide specific financial guidance for future quarters or full year in its press release

Result Drivers

• BOLAWrap SALES - Stronger BolaWrap product sales drove revenue growth, contributing to a 241% increase in gross revenue

• RECURRING SUBSCRIPTIONS - Growth in WrapReady, WrapPlus, and managed service subscriptions supported recurring revenue model

• MARGIN EXPANSION - Improved pricing discipline and operational efficiencies expanded gross margin to 59%

Key Details

Press Release: ID:nGNX23Q729

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)