Wrap Technologies, Inc. income statement
In fiscal 2025, Wrap Technologies, Inc. reported revenue of $4.7m, up 3.7% on the year before, operating income of −$13.5m (a -288.6% margin) and net income of −$10.3m, or −$0.22 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 1 | 4 | 8 | 8 | 6 | 5 | 5 | 6 |
| Cost of revenue | 0 | 0 | 0 | 3 | 6 | 4 | 3 | 2 | 2 | 2 |
| Gross profit | 0 | 0 | 0 | 1 | 2 | 4 | 3 | 2 | 3 | 4 |
| Research and development | 0 | 1 | 2 | 3 | 6 | 5 | 3 | 2 | 0 | −0 |
| Selling, general and administrative | 1 | 3 | 7 | 12 | 20 | 16 | 18 | 16 | 16 | 18 |
| Operating income | −1 | −3 | −9 | −13 | −24 | −18 | −19 | −16 | −13 | −14 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | — | — | — | — | — |
| Net interest income | 0 | 0 | 0 | 0 | — | — | — | — | — | — |
| Income before tax | — | — | — | — | — | — | — | — | −10 | — |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net income | −1 | −3 | −8 | −13 | −24 | −18 | −30 | −6 | −10 | −14 |
| Diluted EPS | — | −$0.14 | −$0.29 | −$0.37 | −$0.62 | — | −$0.72 | −$0.16 | −$0.22 | −$0.25 |
| Diluted shares (average) | 20m | 24m | 29m | 34m | 39m | 41m | 42m | 46m | 50m | 53m |
| EBITDA | −1 | −3 | −9 | −13 | −24 | −17 | −18 | −15 | −13 | −13 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 593 | 865 | 765 | 1,012 | 1,491 | 1,404 | 1,111 | 2,052 |
| Cost of revenue | 358 | 455 | 170 | 525 | 608 | 670 | 420 | 507 |
| Gross profit | 235 | 410 | 595 | 487 | 883 | 734 | 691 | 1,545 |
| Research and development | 527 | 384 | 378 | 162 | 167 | −563 | 105 | 152 |
| Selling, general and administrative | 3,334 | 4,659 | 4,139 | 3,181 | 3,477 | 5,241 | 5,355 | 3,644 |
| Operating income | −3,626 | −4,633 | −3,922 | −2,856 | −2,761 | −3,944 | −4,769 | −2,251 |
| Net income | 1,990 | −7,597 | 109 | −3,727 | −2,773 | −3,944 | −4,540 | −2,257 |
| Diluted EPS | $0.04 | −$0.18 | $0.00 | −$0.07 | −$0.06 | −$0.08 | −$0.09 | −$0.04 |
| EBITDA | −3,544 | −4,452 | −3,767 | −2,829 | −2,736 | −3,805 | −4,713 | −2,229 |
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