Wrap Technologies, Inc. (NASDAQ:WRAP) Q3 2023 Earnings Call Transcript
Wrap Technologies, Inc. (NASDAQ:WRAP) Q3 2023 Earnings Call Transcript November 9, 2023
Unidentified Company Representative : Good afternoon and welcome to the Wrap Technologies Third Quarter 2023 Earnings Conference Call. My name is [JD Mafasso] and I'm the Director and Strategy and Communications for Wrap Technologies. Joining me today is our Wrap Technologies, Chief Executive Officer, Kevin Mullins; and our Chief Financial Officer, Chris DeAlmeida. Following their prepared remarks, we will have a few questions submitted from shareholders. I would like to remind everyone that this call will be recorded and made available for replay via a link in the Investor Relations section of the company's website at ir.wrap.com. Additionally, the company asks that, all interested parties register on the investor relations website at ir.wrap.com to continue to receive alerts and stock information.
As a reminder to listeners, certain statements made during the call today constitute forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are described in our earnings release and more fully in our filings with the SEC. The forward-looking statements today are made as of the date of this call, and we do not undertake any obligation to update the forward-looking statements. Now, I would like to turn the call over to our CEO, Kevin Mullins.
A technician in a deep-water treatment facility, ensuring clean water for public safety.
Kevin Mullins: Good afternoon, and thank you for joining us. It is an honor to shed light on Wrap's commendable strides and achievements throughout the third quarter of 2023. The past quarter stands as a testament of our relentless dedication to excellence and our pursuit of innovation. Our third quarter performance brims with milestones, not merely in financial terms, but as a clear indication of our expanding go global influence, significant demand from international avenues, particularly the African continent, coupled with a robust deployment order from the Northeast sector of the United States, sentiments are dominant market stature. In our ongoing endeavor to consistently elevate the standards, Wrap Reality continues to see significant demand, leading to the second consecutive quarter of record sales.
This success stems from our content focus of our training platform, enrolling out new scenarios monthly, reinforcing the unparalleled caliber of our product ensemble. Furthermore, we are enthusiastically embarking on an officer, mental health and wellness initiative, which we will continue to develop over the coming months. We are also seeing good progress with sales for the recently acquired Intrensic platform in the third quarter. Early feedback shows the solution integrates well into our market and product set, which promises steady growth for us. With today's focus on clear transparency and strong responsibility, our improved products, meet the changing needs of today's market and transform Wrap as a complete solutions provider. Our achievements in Q3 highlight the strong plans we have, our dedication to being the best and the bright future we see ahead.
As we move throughout this year, we are optimistic about our earnings in the coming months, thanks to great results from Wrap's products. This quarter shows how hard we work to grow our presence in the market. With strong demand, our Q3 sales are a testament to our reach, both locally and internationally. We have had another record sales period with Wrap Reality, and we are starting to see good success from our new Intrensic platform as well. We are heading into the last full quarter with hope and excitement. We have made some updates to our sales process to better meet our customer growing needs. Looking ahead, Wrap is set for strong growth. Our commitment to constant innovation and understanding the needs of international law enforcement positions us as a top choice for public safety tech worldwide.
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