Wrap Technologies Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-38750 Wrap Technologies, Inc.(Exact name of registrant as specified in its charter) Delaware98-0551945(State or other jurisdiction of(I.R.S. Employer 3350 Virginia Street, Suite 200Miami, Florida 33133(Address of principal executive offices) (Zip Code) (800) 583-2652(Registrant’s Telephone Number, Including Area Code) N/A(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated FilerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 11,2026 a total of 55,738,250shares of the Registrant’s common stock, par value $0.0001 per share (“Common Stock”),were issued and outstanding. WRAP TECHNOLOGIES, INC. INDEX PART I. FINANCIAL INFORMATION Item 1.Legal Proceedings25Item 1A.Risk Factors25Item 2.Unregistered Sales of Equity Securities and Use of Proceeds25Item 3.Defaults Upon Senior Securities25Item 4.Mine Safety Disclosures25Item 5.Other Information25Item 6.Exhibits26 SIGNATURES27 Wrap Technologies, Inc.Condensed Consolidated Balance Sheets(in thousands, except par value and share amounts)(unaudited) March 31,2026December31, 2025 LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities: Stockholders' EquityPreferred stock - 5,000,000 authorized; par value $0.0001 per share; 11,707 and 12,707 shares issued and outstanding at March 31, 2026, and December 31, 2025, respectively.--Common stock - 200,000,000 authorized; par value $0.0001 per share; 55,506,692 and 51,733,217shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively55Series A convertible preferred stock - 10,000 authorized, par value $0.0001 per share; 8,107 and 8,207shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively--Series B convertible preferred stock - 4,500 authorized, par value $0.0001 per share, 3,600 and 4,500shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively--Additional paid-in capital135,537127,804Accumulated deficit(121,108)(116,319)Total Stockholders' Equity14,43411,490Total Liabilities and Stockholders' Equity$16,722$15,418 The accompanying notes are an integral part of these financial statements. Wrap Technologies, Inc.Condensed Consolidated Statements of Operations and Comprehensive Loss(in thousands, except share and per share amounts)(unaudited) Wrap Technologies, Inc.Condensed Consolidated Statements of Stockholders’ Equity(in thousands, except share amounts)(unaudited) Wrap Technologies, Inc.Condensed Consolidated Statements of Stockholders’ Equity(in thousands, except share amounts)(unaudited) Wrap Technologies, Inc.Notes to Condensed Consolidated Interim Financial Statements(in thousands, except per share and share amounts)(unaudited) 1. ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS Organization and Business Description Wrap Technologies, Inc., a Delaware corporation (the “Company”, “we”, “us”, and “our”), is a publicly traded company with itscommon stock, par value $0.0001 per share (“Common Stock”), listed on the Nasdaq Capital Market (“Nasdaq”) under the tradingsymbol “WRAP.” The Company is a developer and supplier of public safety products and training services for law enforcement andsecurity personnel. The Company's produc