Wrap Technologies Receives Order for 20 MERLIN-1 Systems
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 10 2026
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Should l Buy WRAP?
Wrap Technologies announced it has received a purchase order from Advanced Blast & Ballistic Systems Group for a pre-order of 20 MERLIN-1 Counter-UAS drone systems for the U.K. public safety market. The order represents an important commercial milestone for Wrap's expanding drone portfolio and a step toward broader market entry within the United Kingdom and Europe. The MERLIN-1 platform is being developed to address a growing operational gap in C-UAS defense. MERLIN-1 is a modular, non-lethal drone-mounted payload designed to entangle and neutralize hostile drones mid-flight with the goal of preventing the prohibitive cost and collateral risk often associated with missiles, fragmentation-based interceptors, or other legacy solutions.
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Analyst Views on WRAP
About WRAP
Wrap Technologies, Inc. is a global public safety technology and services company that delivers policing solutions to law enforcement and security personnel worldwide. Its products, services and solutions include BolaWrap Remote Restraint Device, Wrap Reality, and Wrap Intrensic. The BolaWrap Remote Restraint Device is a hand-held remote restraint device that discharges a seven and half-foot Kevlar tether to entangle an individual at a range of 10-25 feet. BolaWrap assists law enforcement to control encounters early without resorting to painful force options. Wrap Reality is a law enforcement three-dimensional training system employing computer graphics virtual reality (VR) with software-enabled content. Wrap Intrensic is a Body-Worn Camera (BWC) and Digital Evidence Management (DEM) solutions provider. BWC and DEM are engaged in capturing, storing, and managing digital evidence for various purposes, including criminal investigations and maintaining transparency in public interactions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wrap Technologies Reports Q1 Revenue of $1.1M with Strong Bookings
- Revenue Growth: Wrap Technologies reported Q1 revenue of $1.1 million with total bookings of $3.2 million, including approximately $1.1 million from domestic sales and $2.1 million from international sales, reflecting sustained global demand for the company's non-lethal response solutions.
- Surge in Product Sales: Product sales soared 186% to $0.9 million compared to $0.3 million in the prior-year quarter, driven by increased domestic and international demand for the BolaWrap 150 product line, indicating strong market traction.
- Widening Operating Loss: The company experienced an operating loss of $(4.8) million, up from $(3.9) million in the prior-year period, primarily due to total operating expenses rising to $5.5 million, largely attributed to higher non-cash share-based compensation expenses.
- Cash Flow Improvement: As of March 31, 2026, cash and cash equivalents stood at $7.3 million, up from $3.5 million at December 31, 2025, with cash used in operating activities improving by 59% to $(1.2) million, demonstrating positive progress in cash flow management.
See More
Wrap Technologies Reports 45% Revenue Growth in Q1 2026
- Significant Revenue Growth: Wrap Technologies reported $1.1 million in revenue for Q1 2026, marking a 45% year-over-year increase, which indicates strong market performance, particularly in product sales.
- Surge in Product Sales: Core product sales skyrocketed by 186% to $0.9 million, driven by robust demand for the BolaWrap 150 product line, further solidifying the company's market position.
- Accelerated International Expansion: The company has expanded its footprint in India, Panama, Brazil, Malta, and the U.K., enhancing its competitive edge in the global market and laying the groundwork for future growth.
- Increased Financing Flexibility: Management emphasized that ongoing operational execution is expected to yield more financing options, although external risks such as competition and government funding decisions remain.
See More
Pentagon Unveils Largest Counter-Drone Budget in History
- Historic Counter-Drone Budget: The Pentagon's request for over $70 billion in its fiscal 2027 budget for drone platforms and counter-UAS systems marks a historic investment that is expected to significantly enhance market opportunities for companies in the defense and security sectors.
- AI Surveillance Network Expansion: The Department of Homeland Security is constructing 890 AI-powered autonomous surveillance towers along the southern border, integrating detection, tracking, and interdiction capabilities, which will enhance border security and operational efficiency, benefiting technology firms in this space.
- Surge in Market Demand: Global government spending on counter-UAS systems surpassed $29 billion in publicly announced contracts during Q1 2026, indicating a pressing demand for autonomous interceptor drones, particularly across NATO's eastern flank and Gulf states, driving rapid procurement of related technologies.
- Patent Application Strengthens Position: VisionWave Holdings has filed a provisional patent for its xCalibre™ visual intelligence platform, designed to convert conventional camera feeds into intelligent sensor data, which is expected to bolster its competitive edge in AI-driven computer vision and edge intelligence, positioning the company for future growth.
See More
Pentagon Unveils Largest Counter-Drone Budget in History
- Record Counter-Drone Budget: The Pentagon's request for over $70 billion in its fiscal 2027 budget for drone platforms and counter-UAS systems marks a historic investment that is expected to significantly enhance national security capabilities and create substantial market opportunities for related companies.
- AI Surveillance Network Expansion: The Department of Homeland Security is constructing 890 AI-powered autonomous surveillance towers along the southern border, integrating detection, tracking, and interdiction, which is anticipated to improve border security and law enforcement efficiency, thereby driving growth for technology firms.
- Surge in Market Demand: Global government spending on counter-UAS systems exceeded $29 billion in publicly announced contracts during the first quarter of 2026, indicating a strong demand for layered defense programs that presents significant market opportunities for companies like VisionWave.
- Patent Application Strengthens Position: VisionWave Holdings has filed a provisional patent application for its xCalibre™ visual intelligence platform, designed to transform conventional camera feeds into intelligent sensor data, thereby enhancing its competitive position in AI-driven computer vision and edge intelligence markets.
See More
Wrap Technologies Renews VR Training Agreement with LVMPD
- Contract Renewal: Wrap Technologies has renewed a five-year agreement with the Las Vegas Metropolitan Police Department (LVMPD) for the WrapReality™ virtual reality training platform, indicating the department's ongoing reliance on immersive training to enhance officers' decision-making and tactical judgment.
- Onsite Evaluation: The renewal follows an onsite engagement in January 2026, where Wrap leadership collaborated with LVMPD Academy leaders and training staff to assess system performance and discuss curriculum integration, ensuring alignment on future training priorities.
- Enhanced Training Outcomes: The WrapReality platform is designed to deliver repeatable virtual reality experiences that help officers improve situational awareness and de-escalation skills in a controlled environment, thereby boosting their confidence and competence when facing real-world scenarios.
- Strategic Implications: Through its long-term partnership with LVMPD, Wrap Technologies solidifies its influence in the public safety sector, driving the modernization of training ecosystems to address increasingly complex law enforcement challenges.
See More
Wrap Technologies Q4 Net Loss Improves 48%
- Net Loss Improvement: Wrap Technologies reported a 48% improvement in Q4 net loss, reducing it to $3.9 million from $7.6 million in the prior year, indicating effective revenue growth and cost control measures.
- Significant Revenue Growth: The company achieved $1.4 million in revenue for Q4, a 55.6% year-over-year increase, suggesting that its market expansion and new product investment strategies are yielding positive results and enhancing future growth potential.
- Operating Expense Control: Total operating expenses decreased by 7% to $4.7 million compared to $5.0 million in the prior year, reflecting the company's ability to maintain cost discipline while investing in new products, which aids in improving overall profitability.
- Operational Loss Improvement: The operational loss improved by 15%, down to $3.9 million from $4.6 million in the previous year, demonstrating the company's ongoing efforts in operational efficiency and cost management, which boosts investor confidence.
See More
Wrap Technologies Reports Q1 Revenue of $1.1M with Strong Bookings
- Revenue Growth: Wrap Technologies reported Q1 revenue of $1.1 million with total bookings of $3.2 million, including approximately $1.1 million from domestic sales and $2.1 million from international sales, reflecting sustained global demand for the company's non-lethal response solutions.
- Surge in Product Sales: Product sales soared 186% to $0.9 million compared to $0.3 million in the prior-year quarter, driven by increased domestic and international demand for the BolaWrap 150 product line, indicating strong market traction.
- Widening Operating Loss: The company experienced an operating loss of $(4.8) million, up from $(3.9) million in the prior-year period, primarily due to total operating expenses rising to $5.5 million, largely attributed to higher non-cash share-based compensation expenses.
- Cash Flow Improvement: As of March 31, 2026, cash and cash equivalents stood at $7.3 million, up from $3.5 million at December 31, 2025, with cash used in operating activities improving by 59% to $(1.2) million, demonstrating positive progress in cash flow management.
See More
Wrap Technologies Reports 45% Revenue Growth in Q1 2026
- Significant Revenue Growth: Wrap Technologies reported $1.1 million in revenue for Q1 2026, marking a 45% year-over-year increase, which indicates strong market performance, particularly in product sales.
- Surge in Product Sales: Core product sales skyrocketed by 186% to $0.9 million, driven by robust demand for the BolaWrap 150 product line, further solidifying the company's market position.
- Accelerated International Expansion: The company has expanded its footprint in India, Panama, Brazil, Malta, and the U.K., enhancing its competitive edge in the global market and laying the groundwork for future growth.
- Increased Financing Flexibility: Management emphasized that ongoing operational execution is expected to yield more financing options, although external risks such as competition and government funding decisions remain.
See More
Pentagon Unveils Largest Counter-Drone Budget in History
- Historic Counter-Drone Budget: The Pentagon's request for over $70 billion in its fiscal 2027 budget for drone platforms and counter-UAS systems marks a historic investment that is expected to significantly enhance market opportunities for companies in the defense and security sectors.
- AI Surveillance Network Expansion: The Department of Homeland Security is constructing 890 AI-powered autonomous surveillance towers along the southern border, integrating detection, tracking, and interdiction capabilities, which will enhance border security and operational efficiency, benefiting technology firms in this space.
- Surge in Market Demand: Global government spending on counter-UAS systems surpassed $29 billion in publicly announced contracts during Q1 2026, indicating a pressing demand for autonomous interceptor drones, particularly across NATO's eastern flank and Gulf states, driving rapid procurement of related technologies.
- Patent Application Strengthens Position: VisionWave Holdings has filed a provisional patent for its xCalibre™ visual intelligence platform, designed to convert conventional camera feeds into intelligent sensor data, which is expected to bolster its competitive edge in AI-driven computer vision and edge intelligence, positioning the company for future growth.
See More
Pentagon Unveils Largest Counter-Drone Budget in History
- Record Counter-Drone Budget: The Pentagon's request for over $70 billion in its fiscal 2027 budget for drone platforms and counter-UAS systems marks a historic investment that is expected to significantly enhance national security capabilities and create substantial market opportunities for related companies.
- AI Surveillance Network Expansion: The Department of Homeland Security is constructing 890 AI-powered autonomous surveillance towers along the southern border, integrating detection, tracking, and interdiction, which is anticipated to improve border security and law enforcement efficiency, thereby driving growth for technology firms.
- Surge in Market Demand: Global government spending on counter-UAS systems exceeded $29 billion in publicly announced contracts during the first quarter of 2026, indicating a strong demand for layered defense programs that presents significant market opportunities for companies like VisionWave.
- Patent Application Strengthens Position: VisionWave Holdings has filed a provisional patent application for its xCalibre™ visual intelligence platform, designed to transform conventional camera feeds into intelligent sensor data, thereby enhancing its competitive position in AI-driven computer vision and edge intelligence markets.
See More
Wrap Technologies Renews VR Training Agreement with LVMPD
- Contract Renewal: Wrap Technologies has renewed a five-year agreement with the Las Vegas Metropolitan Police Department (LVMPD) for the WrapReality™ virtual reality training platform, indicating the department's ongoing reliance on immersive training to enhance officers' decision-making and tactical judgment.
- Onsite Evaluation: The renewal follows an onsite engagement in January 2026, where Wrap leadership collaborated with LVMPD Academy leaders and training staff to assess system performance and discuss curriculum integration, ensuring alignment on future training priorities.
- Enhanced Training Outcomes: The WrapReality platform is designed to deliver repeatable virtual reality experiences that help officers improve situational awareness and de-escalation skills in a controlled environment, thereby boosting their confidence and competence when facing real-world scenarios.
- Strategic Implications: Through its long-term partnership with LVMPD, Wrap Technologies solidifies its influence in the public safety sector, driving the modernization of training ecosystems to address increasingly complex law enforcement challenges.
See More
Wrap Technologies Q4 Net Loss Improves 48%
- Net Loss Improvement: Wrap Technologies reported a 48% improvement in Q4 net loss, reducing it to $3.9 million from $7.6 million in the prior year, indicating effective revenue growth and cost control measures.
- Significant Revenue Growth: The company achieved $1.4 million in revenue for Q4, a 55.6% year-over-year increase, suggesting that its market expansion and new product investment strategies are yielding positive results and enhancing future growth potential.
- Operating Expense Control: Total operating expenses decreased by 7% to $4.7 million compared to $5.0 million in the prior year, reflecting the company's ability to maintain cost discipline while investing in new products, which aids in improving overall profitability.
- Operational Loss Improvement: The operational loss improved by 15%, down to $3.9 million from $4.6 million in the previous year, demonstrating the company's ongoing efforts in operational efficiency and cost management, which boosts investor confidence.
See More
