Wrap Technologies outlines platform shift toward AI-driven public safety

Wrap Technologies, Inc. (Nasdaq: WRAP) issued a letter to stockholders on July 10, 2026, from Founder, Chairman, and Chief Executive Officer Scot Cohen, outlining the company's strategic shift from a single-product company to a broader public safety technology platform.

The letter identified three areas of focus. The first is a ruling from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) that classified the BolaWrap 150 as an instrument of restraint rather than a firearm or "any other weapon" under federal law. The company said it believes this decision removes regulatory uncertainty and may simplify procurement across law enforcement and other sectors including corrections, healthcare, and private security.

The second area involves the company's investment in Frenel Imaging Ltd. and exclusive commercialization rights for its thermal-polarimetric sensing technology across the United States and NATO markets. Wrap said it believes this technology, combined with artificial intelligence and edge computing, may support threat detection for cities, borders, and infrastructure.

The third area centers on WrapShield, described as a platform designed to integrate detection, classification, decision support, and proportionate response into a deployable system. The company said WrapShield is intended to operate across six layers — detect, identify, classify, direct, respond, and escalate — with human oversight retained throughout.

Cohen cited expanding customer adoption, international partnerships, and increased bookings as indicators of operational progress, while noting that targeted investments in new technologies are ongoing. He did not provide specific financial figures in the letter.

Wrap said it views its addressable market as having expanded to include artificial intelligence, autonomous sensing, counter-drone systems, critical infrastructure protection, and public safety modernization, though it acknowledged being early in executing this strategy.

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