Wrap Technologies, Inc. (WRAP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining RAP's Q1 2025 call. In attendance this morning is Scott Cohen, Chief Executive Officer, and Jared Novick, President and Chief Operating Officer. At this time, I want to remind you that certain statements and assumptions in this conference call contain or are based upon forward-looking information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Such forward-looking statements are subject to numerous assumptions, uncertainties, and known or unknown risks, which could cause actual results to differ materially from those anticipated. These factors are more fully discussed in the company's filings with the Securities and Exchange Commission. The forward-looking statements included in this conference call are only made as of the data of this call. and the company is not obligated to publicly update or revise them. Statements are made during this call do not constitute an offer to sell or solicitation of any offer to buy any securities. Securities will not be offered only by means of a registration statement and prospectus, which can be found at www.sec.gov. Unless otherwise stated, all reported results discussed in this call compare the first quarter 2025 earnings. RAPS Q1 2025 financial results are as follows. Cash increased to $6.2 million up from $3.6 million in Q1 2024. Margins increased over 21 points from 56.6% in Q1 2024 to 77.8% in Q1 2025, with cost of revenues decreasing 73.4% from 640,000 to 170,000 respectively. Operating loss improved 5.2% from negative 4.1 million in Q1 2024 to negative 3.9 million in Q1 2025. Q1 2025 revenue was $765,000. Net income was $109,000 in Q1 2025 as compared to $117,000 in Q1 2024. I will now hand it over to Scott. Thanks, Lou. Good morni...