Wrap Technologies’ CEO’s comments on the outlook in the previous earnings call suggest that revenues will decline next quarter, especially international.
The LAPD extended their pilot program, and the BolaWrap was unbelievably only used ONCE during the first 180-day extension (from 8/11/20 to 1/31/21).
Facing lower backlogs, WRAP dropped the backlog number from its last two earnings announcements.
Wrap Reality, WRAP’s police virtual reality training, isn’t ready and already has a lot of established competition, including from Axon.
WRAP will likely be dropped from the Russell indexes later this month causing funds that track Russell indexes to sell the stock.
Read the full report on Seeking Alpha here.