Benzinga | Oct 29, 2021 09:10AM EDT

Wrap Technologies Reports Received Largest Single Int'l. Order For 500 BolaWrap 100 Devices, 50K Cartridges, Related Accessories, No Terms Disclosed

Wrap Technologies, Inc. (the "Company" or "WRAP") (NASDAQ:WRAP), a global leader in innovative public safety technologies and services, announced that the Company received a new repeat order from an International distributor for 500 BolaWrap 100 devices, 50,000 cartridges, and related accessories.

"Our distributor is working with a national police agency that is representative of the exact type of agency we are best situated to help," said Tom Smith, CEO and President of WRAP. "This agency values preventing escalation and is working to equip large groups of officers on its force with the BolaWrap device and training. We look forward to continuing to support our distributor and this forward-thinking agency."

WRAP received the order in late October and the revenue is expected to be recognized in Q4 2021 and Q1 2022. The BolaWrap has already been shipped to 50 countries.

Smith continued, "Our international distributors continue to expand BolaWrap programs despite the challenges presented by the global pandemic. The international market is 12 times the US market size, but order processing can be complicated. I am heartened by our continued expansion and training overseas as the BolaWrap program broadens its reach. Our long-term plan is on target and we are well-positioned for success."