Wrap Technologies, Inc. (WRAP) Income Statement
WRAP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWRAP revenue and net income
Where WRAP's revenue goes
2025Each bar shows an amount and its share of revenue. WRAP kept −221.2% of revenue as net income.
WRAP profit margins
WRAP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.7% | −16.6% | +3.4% | — |
| Gross profit | +9.5% | −10.3% | +15.0% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WRAP quarterly EPS vs estimates
Wrap Technologies beat the analyst EPS estimate in 0 of the last 4 quarters. Next report: November 11, 2026.
WRAP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M | $4.5M | $6.1M | $8.0M | $7.7M | $3.9M | $696,790 | $23,150 | $0 | $0 |
| Cost of revenue | $2.0M | $2.0M | $3.2M | $4.3M | $5.0M | $2.6M | $420,016 | $18,611 | $6,661 | $0 |
| Gross profit | $2.7M | $2.5M | $2.9M | $3.7M | $2.7M | $1.3M | $276,774 | $4,539 | −$6,661 | $0 |
| Research & development | $56,000 | $2.3M | $3.3M | $5.1M | $6.2M | $2.8M | $2.2M | $734,776 | $311,335 | $260,693 |
| Sales, general & admin | $15.5M | $14.1M | $18.4M | $16.4M | $20.3M | $11.6M | $6.7M | $2.6M | $522,210 | $20,534 |
| Total operating expenses | $16.2M | $18.0M | $24.9M | $21.5M | $27.2M | $14.4M | $8.9M | $3.3M | $833,545 | $281,227 |
| Operating income | −$13.5M | −$15.6M | −$18.7M | −$17.7M | −$24.5M | −$13.1M | −$8.6M | −$3.3M | −$833,545 | −$281,227 |
| Interest income | $7,000 | $156,000 | $375,000 | $52,000 | — | $83,272 | $291,494 | $2,912 | — | — |
| Interest expense | — | — | — | $224,000 | $46,000 | $0 | $0 | $1,304 | $0 | $0 |
| Income before taxes | −$10.3M | −$5.9M | −$30.2M | −$17.6M | −$24.4M | −$12.6M | −$8.3M | −$3.3M | −$833,545 | −$281,227 |
| Income taxes | — | −$1.2M | — | −$224,000 | −$31,000 | −$83,000 | −$3,306 | $895 | −$5 | $0 |
| Net income | −$10.3M | −$5.9M | −$30.2M | −$17.6M | −$24.4M | −$12.6M | −$8.3M | −$3.3M | −$833,545 | −$281,227 |
| EBITDA | −$9.7M | −$12.8M | −$17.9M | −$16.8M | −$23.2M | −$12.9M | −$8.3M | −$3.3M | −$826,884 | −$279,653 |
| EPS (diluted) | −$0.22 | −$0.14 | −$0.71 | −$0.37 | −$0.60 | −$0.38 | −$0.29 | −$0.14 | −$0.04 | −$0.02 |
| Gross margin | 57.8% | 54.7% | 47.4% | 46.4% | 35.5% | 34.1% | 39.7% | 19.6% | — | — |
| Operating margin | −288.6% | −345.4% | −305.3% | −220.3% | −316.9% | −331.6% | −1,236.2% | −14,417.4% | — | — |
| Net margin | −221.2% | −130.4% | −492.7% | −218.9% | −316.3% | −319.0% | −1,194.8% | −14,412.2% | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $1.1M | $1.4M | $1.5M | $1.0M | $765,000 | $865,000 | $593,000 | $1.5M | $1.5M | $589,000 | $3.6M |
| Cost of revenue | $507,000 | $420,000 | $670,000 | $608,000 | $525,000 | $170,000 | $455,000 | $358,000 | $640,000 | $640,000 | $880,000 | $1.5M |
| Gross profit | $1.5M | $691,000 | $734,000 | $883,000 | $487,000 | $595,000 | $410,000 | $235,000 | $836,000 | $836,000 | −$291,000 | $2.2M |
| Research & development | $152,000 | $105,000 | $563,000 | $167,000 | $162,000 | $378,000 | $384,000 | $527,000 | $755,000 | $755,000 | $584,000 | $610,000 |
| Sales, general & admin | $3.6M | $5.4M | $4.4M | $3.5M | $3.2M | $4.1M | $4.7M | $3.3M | $4.2M | $4.2M | $5.8M | $4.3M |
| Total operating expenses | $3.8M | $5.5M | $4.7M | $3.6M | $3.3M | $4.5M | $5.0M | $3.9M | $5.0M | $5.6M | $7.2M | $4.9M |
| Operating income | −$2.3M | −$4.8M | −$3.9M | −$2.8M | −$2.9M | −$3.9M | −$4.6M | −$3.6M | −$4.1M | −$4.1M | −$6.6M | −$2.8M |
| Interest income | $2,000 | $1,000 | $1,000 | $2,000 | $2,000 | $2,000 | $2,000 | $21,000 | $55,000 | $78,000 | $38,000 | $90,000 |
| Interest expense | — | — | — | — | — | — | — | — | $232,000 | — | — | — |
| Income before taxes | −$2.3M | −$4.5M | −$3.9M | −$2.8M | −$3.7M | $109,000 | −$7.6M | $2.0M | $117,000 | $117,000 | −$18.4M | −$2.8M |
| Income taxes | — | — | — | — | — | — | $4.3M | $1.7M | −$4.3M | — | — | −$272,000 |
| Net income | −$2.3M | −$4.5M | −$3.9M | −$2.8M | −$3.7M | $109,000 | −$7.6M | $2.0M | $117,000 | $117,000 | −$18.4M | −$2.8M |
| EBITDA | −$2.2M | −$4.5M | −$3.2M | −$2.6M | −$3.6M | $264,000 | −$7.4M | $2.2M | $340,000 | — | — | −$2.5M |
| EPS (diluted) | −$0.04 | −$0.09 | −$0.08 | −$0.06 | −$0.08 | −$0.00 | −$0.16 | $0.04 | −$0.02 | −$0.00 | −$0.42 | −$0.07 |
| Gross margin | 75.3% | 62.2% | 52.3% | 59.2% | 48.1% | 77.8% | 47.4% | 39.6% | 56.6% | 56.6% | −49.4% | 60.0% |
| Operating margin | −109.7% | −429.3% | −280.9% | −185.2% | −282.2% | −512.7% | −535.6% | −611.5% | −280.4% | −280.4% | −1,126.0% | −75.7% |
| Net margin | −110.0% | −408.6% | −280.9% | −186.0% | −368.3% | 14.2% | −878.3% | 335.6% | 7.9% | 7.9% | −3,124.1% | −76.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WRAP's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WRAP financial results
In fiscal year 2025 (ended December 31, 2025), Wrap Technologies reported revenue of $4.7 million, up 3.7% from the year before. It had a net loss of $10.3 million, a net profit margin of −221.2%. Diluted earnings per share came to −$0.22. Over five years revenue grew at an average rate of 3.4% a year.
See the WRAP stock overview for the latest quote and news, or the WRAP chart for price history and technical indicators.
WRAP income statement FAQ
What is Wrap Technologies's annual revenue?
Wrap Technologies reported total revenue of $4.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 3.7% from $4.5 million the previous year.
Is Wrap Technologies profitable?
No. Wrap Technologies reported a net loss of $10.3 million in fiscal 2025, a net profit margin of −221.2%; its operating margin was −288.6%.
What is Wrap Technologies's gross margin?
Wrap Technologies's gross margin was 57.8% in fiscal 2025: for every $100 of revenue, Wrap Technologies kept $58 after the direct cost of its products and services.
How much does Wrap Technologies spend on research and development?
Wrap Technologies spent $0.1 million on research and development in fiscal 2025, 1.2% of revenue.
How fast is Wrap Technologies growing?
Revenue grew 3.4% a year on average over the last five fiscal years, from $3.9 million to $4.7 million.
What are Wrap Technologies's earnings per share?
Wrap Technologies earned $-0.22 per diluted share in fiscal 2025, compared with $-0.14 a year earlier.
When will Wrap Technologies report its next earnings?
Wrap Technologies is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Wrap Technologies's fiscal year end?
Wrap Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.