Wrap Technologies announced a new WrapReady subscription agreement with the Rio Grande City Police Department (RGCPD) in Texas. The deal equips 12 officers with the company’s BolaWrap 150 device, includes multi‑year support, and provides instructor‑level certification and training.
The contract marks Wrap’s first deployment of the WrapReady program in a Texas border community, a high‑complexity, resource‑intensive market that the company has identified as a key growth area. By embedding its non‑lethal restraint technology into a frontline law‑enforcement agency, Wrap demonstrates the scalability of its subscription model and strengthens its foothold in a segment that can drive recurring revenue through training and support services.
Wrap’s Q3 2025 financial results provide context for the significance of the new contract. Revenue rose 241% year‑over‑year to $2.02 million, driven by a 59% gross margin that expanded from 40% in the prior year. Despite the revenue growth, the company posted a net loss of $2.77 million, reflecting higher operating expenses and cost pressures that have been a focus of its restructuring effort. The company’s CEO, Scot Cohen, described the quarter as the “strongest in the past two years,” highlighting the shift from a device manufacturer to a provider of non‑lethal response subscription solutions.
Cohen emphasized that the BolaWrap 150 has achieved a 92% field success rate with no reported deaths, serious injuries, or lawsuits, underscoring the product’s safety profile and market acceptance. The company’s COO, Jared Novick, noted that the WrapReady program is a strategic pivot toward recurring revenue, which is expected to improve cash flow stability and support future investments in defense and counter‑UAS markets.
Looking ahead, Wrap plans to expand the WrapReady program beyond border communities into federal, defense, and homeland‑security agencies. The company’s recent partnership with Carahsoft and the launch of Wrap Federal signal a broader strategy to capture high‑margin government contracts. While the company remains in a net‑loss phase, the combination of growing revenue, improving margins, and a subscription model positions Wrap to achieve profitability as the program scales.
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