Wrap Technologies Inc. (NASDAQ: WRAP) reported fourth-quarter 2025 revenue of $1.4 million, representing a 62% increase from the prior-year period, according to the company's earnings statement released March 26, 2026.

The Miami-based non-lethal response technology company said product sales more than doubled to $1.2 million in the fourth quarter, compared to $600,000 in the same period of 2024. Full-year 2025 revenue reached $5.2 million, up 15% from $4.5 million in 2024.

Gross profit for the fourth quarter increased 79% to $700,000, while gross margin expanded from 47% to 52%. Operating expenses decreased 7% to $4.7 million in the quarter, resulting in an operating loss of $3.9 million, an improvement from the $4.6 million loss in the prior-year quarter.

The company's net loss for the fourth quarter was $3.9 million, compared to $7.6 million in the same period of 2024. For the full year, net loss was $10.3 million versus $5.9 million in 2024, which the company attributed to a $6.4 million reduction in non-cash income from warrant fair value adjustments.

Technology-enabled services revenue grew 85% to $1.7 million in 2025, reflecting the acquisition of W1 in early 2025 and expansion of training and software subscription services.

Wrap Technologies said more than 10,000 active BolaWrap units are deployed domestically, with over 76% using the current-generation BolaWrap 150 platform. The company reported that average deal size increased nearly sixfold from the first half to the fourth quarter of 2025.

The company announced plans to target approximately 100% revenue growth in 2026, focusing on agency-wide deployments, federal market entry through its Wrap Federal division, and expansion of subscription-based services including its WrapTactics digital training platform and WrapVision body-worn camera system.