Wrap Technologies Files Q2 2024 10-Q
Ticker: WRAP · Form: 10-Q · Filed: Oct 15, 2024 · CIK: 1702924
| Field | Detail |
|---|---|
| Company | Wrap Technologies, Inc. (WRAP) |
| Form Type | 10-Q |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
WRAP Q2 2024 10-Q is in. Check financials for latest performance.
AI Summary
Wrap Technologies, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and first half of 2024, detailing revenue, expenses, and net income/loss. Specific figures for these metrics are available within the filing, alongside information on their operational segments and geographical performance.
Why It Matters
This filing provides investors with the latest financial performance data for Wrap Technologies, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings often contain detailed financial information that can reveal risks and opportunities, requiring careful analysis.
Key Players & Entities
- WRAP TECHNOLOGIES, INC. (company) — Filer
- 20240630 (date) — Period of Report
- 20241015 (date) — Filed as of Date
- TEMPE (location) — Business Address City
- AZ (location) — Business Address State
FAQ
What were Wrap Technologies' total revenues for the six months ended June 30, 2024?
The filing indicates financial results for the six months ended June 30, 2024, but specific revenue figures are not provided in this header information.
What is the company's primary industry classification?
Wrap Technologies, Inc. is classified under 'ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]'.
When was Wrap Technologies, Inc. incorporated?
The state of incorporation is Delaware (DE).
What is the fiscal year end for Wrap Technologies?
The fiscal year end for Wrap Technologies is December 31 (1231).
What is the SEC file number for Wrap Technologies?
The SEC file number for Wrap Technologies is 001-38750.
Filing Stats: 4,535 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-10-15 06:06:48
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share WRAP Nasdaq Capital Marke
Filing Documents
- wrap20240630_10q.htm (10-Q) — 1228KB
- ex_732361.htm (EX-3.2) — 25KB
- ex_732362.htm (EX-10.3) — 17KB
- ex_731689.htm (EX-31) — 10KB
- ex_731690.htm (EX-32) — 4KB
- wrap20240630_10qimg001.jpg (GRAPHIC) — 2KB
- 0001437749-24-031161.txt ( ) — 6493KB
- wrap-20240630.xsd (EX-101.SCH) — 61KB
- wrap-20240630_def.xml (EX-101.DEF) — 452KB
- wrap-20240630_lab.xml (EX-101.LAB) — 362KB
- wrap-20240630_pre.xml (EX-101.PRE) — 484KB
- wrap-20240630_cal.xml (EX-101.CAL) — 49KB
- wrap20240630_10q_htm.xml (XML) — 907KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements: 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 (audited) 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (unaudited) 5 Notes to Condensed Consolidated Interim Financial Statements (unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 32
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Wrap Technologies, Inc. Condensed Consolidated Balance Sheets (in thousands, except par value and share amounts) June 30, 2024 (unaudited) December 31, 2023 (audited) ASSETS Current assets: Cash and cash equivalents $ 2,064 $ 3,955 Short-term investments 2,500 7,500 Accounts receivable and contract assets, net 3,262 3,025 Inventories, net 6,489 5,794 Prepaid expense and other current assets 693 953 Total current assets 15,008 21,227 Property and equipment, net 292 509 Operating lease right-of-use asset, net 2,113 2,256 Intangible assets, net 2,526 2,648 Goodwill 1,610 1,610 Other assets 214 251 Total assets $ 21,763 $ 28,501 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,138 $ 1,110 Accrued liabilities 1,154 692 Customer deposits - 1,002 Deferred revenue - short term 452 407 Operating lease liability - short term 621 616 Warrants 12,786 19,703 Total current liabilities 16,151 23,530 Long-term liabilities: Deferred revenue - long term 133 137 Operating lease liability - long term 1,638 1,671 Total long-term liabilities 1,771 1,808 Total liabilities $ 17,922 $ 25,338 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock - 5,000,000 authorized; par value $ 0.0001 per share; 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively - - Common stock - 150,000,000 authorized; par value $ 0.0001 per share; 45,793,112 and 43,855,503 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively $ 4 $ 4 Convertible Preferred Stock - 10,000 authorized, par value $ 0.0001 per share; 8,207 and 9,898 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively - - Additional paid-in capital 102,793 101,147 Accumulated deficit ( 98,956 ) ( 97,988