WRAP - Earnings call transcript Q2 2022

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Paul Manley

Good afternoon, and welcome to the Wrap Technologies Second Quarter 2022 Earnings Conference Call. My name is Paul Manley, and I'm Vice President of Investor Relations. Today, our reconstituted management team will discuss this past first quarter performance and provide updates on its business assessment and our new multiyear strategic road map. On today's call, I'm joined by Wrap's Chief Executive Officer, TJ Kennedy; Wrap's President, Kevin Mullins; and Wrap's newly-appointed Chief Financial Officer, Chris DeAlmeida. I'd like to take -- remind you that 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. subject could known differ cause such are and unknown materially statements statements. that uncertainties actual forward-looking to and both risks from Such results to and in and earnings are risks filings described These press the uncertainties release in SEC. our with our today statements the of we made call, to update date any not undertake are obligation this the and forward-looking The of do forward-looking statements. the call Kennedy. over TJ turn to now will I

TJ Kennedy

and as activities over to overview Kevin of days. strong the view and our value going and company. invested are stepping Paul. Chris role, to Kevin everyone. using begin road of to deal assessment XX a that a strategic And set a the immense detailing to a providing of financials I map. we I our have you, long-term new QX Thank our multiyear that bottoms-up After strategic creation new are by We're road high-level results. discuss DeAlmeida, foundation a management a the past the profitability conduct CFO, Mullins year good priorities among by we It's our then transitional targets a note multiyear success. map the Developing conclude afternoon, will and before great top important for for into time one Wrap, recently XXXX growth,

partners improving growth improve. distributors optimizing a We we're and and team to opportunities accelerating have margins for with had correctable needs to and our has process This cost understand what and helped conversations of the customers, members, well what us number issues structures, trajectory. exhaustive working identify

the expense the a address our issues, million implementing as operational is I Briefly expected map emphasis decrease reflecting Despite on market. and organization's to capture producing to future that we to and going opportunities year-over-year. had lingering on BolaWrap customers new to BolaWrap work restrictions, was shutdown XX% our line in in was efficiency. Revenue gross to in $X.X sales thanks production delays new cost next-generation our forward, representing of to $X.X operating accelerate effective prior the of getting resulting impact significant revenue from highlight product Going XXX greater execution were first achieve reduction device, transitioning the of COVID-XX challenges, to want on cost devices touching the able and headwinds containment reflects higher-margin XXX results. XXX. QX, maturation. larger million, margin we XXX. the the transition a BolaWrap efforts The first and road legacy the The due impact to to controls QX, in half XX% management's early-stage a achieving guide BolaWrap to transition

train more from areas. Certified officer grew grew During the the in quarter, continued we law XX% than more in than XXXX. X,XXX to brand awareness QX, build instructors in XX% to quarter, enforcement representing We agencies X,XXX to up important also year-over-year growth. more

to Our data-driven law is have officers across use of safer, deliver affecting work. service brand that uniquely to globe validates effective on positioned minimal our and the best-in-class traction with enforcement more encounters Wrap technologies

New and over management position. distinct to like turn on to urgency is that said, With the acting purpose to Chris. with capitalize I'd this call

road Chris as we have We are forward on him very to execute look excited team map. working with to strategic closely on the and our

Chris DeAlmeida

quarter. agree had joining, new to we in of for everyone. take a with be results our team, you, about future to what the us. at road for discuss the on look financial business drive strategic helping this input to management opportunity said clear Since like forward I'd look our opportunity I've part model Good TJ. the and a Wrap. the of I'm second I excited Thank front an close provide afternoon, now growth and TJ map. to

generated prior-year XXXX, revenues includes during During $X.X to XXXX XXXX, BolaWrap revenues $X.X million before $X.X XXX. the to the discounts compared such for million Gross for and primarily of This related customers to incentives we approximately QX period. QX net million. $XXX,XXX converting quarter second the of in promotional discounts were

We industry, expect phased which discounts, are to as upgrade customer growth. we out conversion decline customary product QX after our in to have

where through this move due transition our slow by This the to quarter from It partially to As the the geographies. to noted, a sales processes agencies time device is and training in takes international to new generation. approval device also the new BolaWrap formally time to agencies, to were introduce XXX. work impacted it's to essentially it especially largely takes historic

to Additionally, pandemic especially us reiterate restrictions growth, that be lumpy. chain leads internationally, This have near-term sales disruptions may lingered. and supply

Fortunately, a expected silver pursued that is this international complete are future the quarters. pending order quarter in lining in in to second

full-year our robust expect to and our XXXX revenue to orders international from continue We pipeline. due growth sales domestic will increase in

compared building the XX% XX% XXXX, XXX in Our related excluding was onetime BolaWrap $XXX,XXX change line to of to of transition for margin and QX QX quarter to gross a approximately second expenses of in to XXXX.

before, stated this goal gross is our achieve to year. XX% margins have we As

to prior-year XXXX and costs testing of cost XXX $X.X agencies consulting in our a in period. is quarter result of million improve to enhancements costs, This period. of costs respect the that as XXXX. come quarters. law BolaWrap of While discounts headcount and enforcement this was the as or to the our we last an over well R&D software. $X.X down to delivered to for distributors. expense promotional as $XXX,XXX R&D increased prior-year promotional was quarter this anticipate quarter was million investments as quarter increase and products compared a next demonstrations was the from decline promotional virtual training in volumes in $XXX,XXX second by year, as second costs the incurred well will impacted the With improvement reflects slower we the This margin gross over few This and reality related finalizing sales for cost warranty in

be have was the SG&A a representing Going million in in cost expense to compared to initiatives containment forward, period line as $X.X $X due for quarter new stock from to R&D as Share-based prior-year reducing million our focused containment reduction certain spending. in as decreased due overall million, to stock with period. expense in reduce $XXX,XXX SG&A compensation sales. well issuances $X.X significant enacted of more to QX cost efforts XXXX the in to QX the second we on prior-year the XXXX price

the balance XXXX share or QX per to our million $X.X Overall, for a million compared SG&A the net quarter $X.XX expect due of We loss XXXX loss share. cost expense net second containment to of remain or per a active $X.XX efforts. was the $X.X for prior-year for below XXXX to of loss

discuss sheet over turn our balance and to $XX.X to approximately of Kevin I the remains support go-to-market recent our Our that, improvements cash investments short-term with With to call million strategy. growing will strong the to need.

Kevin Mullins

Chris. Thanks,

past and this, to As Wrap XXX begun both assessing model, TJ facets noted at across sales To focus business began a is goal to predictable improvement inside of the identified sales several a dedicated moving for our domestic Wrap have working that repeatable to sales which results. of To customer areas improved spent sales With already new start of go-to-market expand do key the believe achieve also developed foster achieve and of to with our we function key increasing XX we We the driving have XXX and also making more overall The focusing international BolaWrap predictable adjustments. are drive will and BolaWrap and this, we We've approach. the function more days Reality. robust, have are distributors, aligned for implement to call, quotas and all with while aggressive the we relationships strategy market. sales, leads we better respect we are our a results. incentives regionalized commission with stronger on better success follow-ups. how

initiated sales we've management commit transparency our weekly sales Additionally, new created level operations. structure call. of This pipeline accountability throughout has and and

expanding decision road in existing was be key map a laser-focused success customer and relationships. customer team, strategic which to this on will create Another retaining new

a focus our on have maintaining especially and marginal efficient, base, our a law We existing approach rate to now will expansion. faster of in operating over at enforcement determined agencies dedicated are We and to deployment. predictable team more in plan customers. are clear come. Expansion agencies, customer-obsessed, while only partner quarters sales percentage a customer existing and to with driver be be landing sustainable our that new During at full growth want this occurred existing growing the vertical, sales safety we a believe assessment, we of who public

full termination our line production As sales. BolaWrap sales BolaWrap of the Difficulties this and distribution product slow previously a ramp-up channel a slow Momentum to XXX the partners with a impact the from to QX. negative through the year. was noted, XXX caused on in created disruptions transition with

production units staff our resources partners BolaWrap operation, model. revenue on to provided. collateral multiple solutions of which delivered, training and and generation was are we marketing the in new from XXX have proper faster Thankfully, to new experienced material branded the caused were XXX -- sales BolaWrap As our market channel the delays now were BolaWrap drive to transition The the growth. partner the new XXX, supply the disruptions, trained chain

have we to mitigate any are actively future issues, working that we identified Now delays. these

of parts lead backup expand suppliers to number of and reserve components. stock long to continue We begun have key for the

gaining on see traction international sales XXX QX. focusing QX to significant to also BolaWrap and revenue expect to are improvements in We international our and

our maximizing our about back is component detail. we raise review, strategic a strategic sales in key in for the with our have with and TJ immense to given partners This provides decision discuss map, for go-to-market fundamental consistent standards part as is our strategy our to Based it services. our industry agencies who did and training not now focus to road agency been decided And concerns I'll value to validated road our processes from consider and our programs strategic further has turn each partners. begin and charge. to over Lastly, of charging review on map this discussion success. we analyze decisions training we our of future Building

TJ Kennedy

creation. in forward. drive begun Thanks, and have will we various innovation the enhanced executing long-term right we team support on confident product plan value plan road that Management map diversification that has am I right sales, and believe to strategic place Kevin. the already and initiatives increased

implement with a building plan stronger includes also being number revenue, a as the initially map to qualified pursuing growing BolaWrap to our is ramping a and agencies revenue price these of support higher-margin our the comprehensive To product. made profitability, BolaWrap We're long-run to is XXX sustainably and support priorities, increase decision We and growth, future as implementing road valuable and function This achieve recurring cassettes leads to is for into function To Our XXX to the long-run improved additional for centered sales product adjusted to started the which new not supporting and XXX. our of on of in the the did down stronger pricing services. expand accounts continue distributor margins and relationships. driving for success sales double key profitability. the us have releases. deployment. on sales on the devices well increases upgrades road our term significant monetizing sustained margins the new we full and in driving on we up BolaWrap structure help incremental Kevin XXX BolaWrap inside mentioned In pricing customer BolaWrap as improve a U.S., XXX, than strategic BolaWrap drive immediate existing internationally training patrol-wide added map focused partner

charging On begin will services the have importance training these the front, accordingly. proven of and we

of models yet had Wrap resulting going SaaS new the our wins, how reviewed we implementation much at We solidified which model around captured. various and also Wrap and have made look has to sales Reality, improvements Reality offering and sell support the forward. virtual now reality We identified closely a sales be as to in that

have a a place detailed SaaS We operate and leadership sales developed key in business. to Reality successfully have put plan Wrap for

changes made many urgency of purpose. and have above the with We referenced

from initiatives become strategic in to new road come. increasingly map are will the quarters our We the confident that evident

our and for reducing and action cash evidenced remains be Rightsizing to expect strategic to for in future on earlier. reduction cost focus expenses road commitment continue the priority in operating quarter operating expenses the Our map achieved major burn to by we the XX% should quarters. management, a in reduction second referenced

on to consultants leaner and accelerate have across and improvements us long-term expenses to to significant our travel hand We allow becoming partners. made to close our success cash our journey contractors, our us keep to structure profitable nimble, will our a and employees, customers be business. ensure preserve to This and

changes. the of the I've important I to In addition some initiatives highlight other to touched on, already want

have values. our We mission, vision and core implemented

the give made our BolaWrap to the deliver the to our the five decision marketplace have next certainty to XX We to and XXX distributors. years to for customers

occurred We it to our but issues efforts, through be revenue products BolaWrap be replace avoid and into sustainable model longevity map to and positive new have XXX believe long-term these additive organization. that will any business not with We our decisions drive the or the these BolaWrap to transition. new R&D throughout for change a road innovating strategic will will XXX XXX created getting Wrap

the assessment Wrap for map. strategic reiterate of our to So outcome road

and demand We that safety. market a stable non-injurious solutions are for has nonlethal restrained public business for in a

to not capital and believe fund our operations reduce need OpEx to significantly for We raise long-term. to the expect ongoing to to cash burn additional We we do continue continue improve.

have transition by growth, achieving but expect to losses pricing continued success to optimizing by we we drive of We potentially end the the go-to-market approach drive our By XXXX. in sales end containing and by of and year, sustaining We path expect costs, breakeven profitability breakeven we to repeatability, and improved have viable to improve a a of end and believe to cash XXXX. position are a reaching reduce XXXX the flow.

developed, training service competition. the that of white take market has have a is forest Reality using rewarded level It the Wrap fills of sense by BolaWrap Reality use is usage the of higher and enforcement. the prevention. lethal In different and initiatives through avoidance through law BolaWrap of firearms. officers commands efforts not of BolaWrap less forced The simulation future in and prevention the addition is portion BolaWrap of the training most verbal run virtual multiple the as of for is calls and leveraging Wrap to of to force area the where level everyday working considered departments now de-escalation use or we space policing to continue. simulations through as place. all now also The and little the emergency the many by handcuffs of to excels specific elevating gamut use around up the clearer of way a of force, Wrap the reality

uniquely here law I the best-in-class services that a reinforces market enforcement, can and you of to market across Wrap. are virtual am lead in this place, map over the that can opportunity training about We turn optimistic to facilitate in and change enormous transformative strategic This more I With period our success. a determined I positioned leader back road establish proud through a world. societal the deliver to months, tell for call I'm few for long-term excited technologies, and Q&A. the and foundation will reality and help the be Paul reentry. to now a the corrections further for After future software we for enforcement being are improve of law us

Paul Manley

Thank you, TJ.

covering our now will three take questions analysts. We from

Greg Northland go Greg. Capital Please from ahead, with Gibas start will Markets. We

Gregory Gibas

Kevin. the strategic questions. Hey, TJ, commentary and taking on of on road could If Chris, first. I and Thanks of the Also, outlook. good thanks kind for afternoon kind map for follow-up new that the

the You milestones sales end to 'XX, what of your 'XX. would kind profitability mentioned need end the achieve I you expecting of Wondering, of estimate those breakeven of cash breakeven by flow guess, would two maybe the by be?

TJ Kennedy

ahead answer I'll and Sure. go that.

of to continuing operating move element. to quarter better expenses keeping reduce million go year, getting the a much that greatly are believe forward, focused million expenses, mark to are as or below get slightly very operating that to help our at we that around $X in we sales We're As going forward. breakeven we end us next $X

million we're we for. the good a and end but company of as So as move XXXX now. quarterly think we're us give we're we under our that, $X where that's future will by margins target. not revenue a will this annualized believe place forward, profitable certainly $X putting would Obviously, guidance, be And out to what to with right good million that striving size it's grow better or driving that of of the we

Gregory Gibas

to the understood. on fully helpful. Very you wanted new Yes, congratulate international Great. And sales. I

got of Wondering Middle You maybe the well, as additional size whether in you there customer size customer? the that think you base order, comment the East. new that of could sales press release relative if from on be the maybe and organization will

TJ Kennedy

day, in to believe volume the of of a nationwide, a and has it had at Definitely, question. be a great the very Yes, customer, But large the end sales we lot six-figure a sale. large that very it's future. agency

the initial So was this rollout.

to One of XXth get contract, often these got really But very to international we're contract us compared with international grow U.S. for become customers, out agencies once customer in in gives most our to with are future they're -- to able they being this some slow we police expanding long-term large here large these under going point growth. a to things of that departments to runway them under customer things extremely on the there. and of of the focus to the is the are lot one that

Gregory Gibas

timing? there. Great, being do How that in recognize that and you thinking that kind QX? are you expect guess would Would Or that? sale just follow-up you all -- a I about a multi-quarter of delivery

TJ Kennedy

being We QX, be think about as in would future in and go we future quarters that sales one forward.

Gregory Gibas

just no penetration there. the front mind sense kind maybe I'm in get of -- domestic just understanding to a that departments of me. one maybe BolaWrap share to maybe have introduced focus exact gotten maybe last and that your an I or or policing for you've know Okay. been of of to turn date. towards of there's but to I get percentage the trying guess of wanted at Great, number, least departments maybe kind I the

TJ Kennedy

that when BolaWrap Yes, are that another, XX,XXX we're currently at deployed using you department. police so look in have today, domestic over police agencies about agencies. -- fashion There's U.S. or XXX the we one

that, have we currently look product if X.X% it's you So just at that under in.

As Xx presented it is the far probably as we ones beyond number. that that, to

So XX% we presented the or probably XX%. end the to of at day,

these buying a in process. of Some are still

to to more. we thorough them with are international, more days think U.S. to low-hanging a the a officers that typically field of or process faster say, department on officers more on patrol in top into. be we're the in do have a big full or of process expand And expansion able the addressable the deployment job do across field. for the the But both with can of I to to of is map a in the the from, think out Although XXX-plus, one lengthy be that moving and that, today, BolaWrap XX% determined market bit a XX to road all that to things them or than even continue working device. do still expand very all much fruit can need go where deployment, buying for happens the XX% that, broader in it equipped strategic agencies have of to is to we in department a a we XXX U.S., we little the department that's full

Gregory Gibas

Thanks Appreciate makes it. it Okay, guys. sense.

Paul Manley

Maxim from move now Group. much, very the Klee go ahead, to We'll on Allen you Greg. Allen. Please Thank

Allen Klee

me still are something to in get Yes, And thought there? the you trying you're steps talk this to XX% the of about to going that? Are get are year. margin I that of you so by you confident Could gross mention what hi. that you kind to heard end -- I

TJ Kennedy

Good Allen. question,

because the the will We lead year. margins BolaWrap better are the the XXX us that by percent on have confident that be end of to that XX-plus believe we we in

to significant we We At comes end actually are most have off, the program trade-ins QX. impact those but been it to hit that. ended on related when certainly amount part. trade-ins, and the discounts still definitely think the a work significant on day, at the of those of we've of do the I will in Trade-ins margins a for discount had end trade-ins believe will we of our the that think QX, We number that trade-in diminish. have QX once trade-ins

those front trade-in. honored QX into to had have We some proposals of them already do in that

to product So have we know but we be we'll that when QX, in believe producing higher-margin And they subside. XX% here trade-ins more the do, should going plus. are

we confidence why that's have So in some that.

Our cost produce and it is less, that a to is higher-margin product.

Allen Klee

any U.S. us in agencies penetrating Great, the the of them? what can of give is commentary status larger you on the

TJ Kennedy

Association, added in Two additional of cities the Chiefs added, The is was City another quarter. Yes, we Department what's here added we notable in the we've where U.S. QX. had kind County Police to in here MCCA metro in that the measure we've penetrate a U.S. ones continued large and major then agency Major one past Fairfax here

departments we'll certainly continue to sizes initial growing have. drive to from And the those that in are we of we we at that departments some add top So the larger even U.S. how that greater to the certainly police continue XX-type to do deployment in deployment look and

So reality Wrap continue a able as them family virtual for these come to to also Reality it's more well. we're with as us of exciting the deploy to an where time on in BolaWrap and departments

Allen Klee

trial? on the LAPD follow-up that on a is, update any Maybe

TJ Kennedy

that LAPD distant be very up. will trial interactions positive but them on too will with and not and the trial coming future the next continues, phase more been we'll that, of I hopefully LAPD that that, in have supporting for say in

So forward to except I next for or more the moving month in announce lot have have don't it's should a so. today and

Allen Klee

international. question Great, my last is

to the able an But really up. timing? just you how general, current I in -- the has to in today. sell picking about order terms that material of places? Do that this anything the And up do you you quarter. didn't of feel most think just travel opened announced of in mean market timing being You the international

TJ Kennedy

of the of transitioning transition. believe XXX, BolaWrap has those on do XXX I BolaWrap also us international travel The travel Also, Definitely, question. fruition XXX to New with the those side. in lot of QX. QX Australia XXX coming Many of was Zealand, the opened just more some past agencies that others end to here up especially restrictions. weeks did time. a hurt some see up in APAC in were so open and Yes, we'll in to has and XXXX. later because difficult, QX, few the having taken good were XXXX on travel

So some up just that of for that, to face-to-face opened to to longer be take get them. present will and able us

it's other them team the as have So been we that have far two is continues gone workforce, as have staying by sales that hit times even thing weeks. not home the headwinds members impacted happens. at one our COVID we last and around COVID-related travel, had in when to It

so do small we have workforce. And a

So I folks road. the do up. that the travel long-term, happens, for But us that we has off when opened have back believe international some

the we'll to East. strong EMEA, as seeing quite additional for You're sales overall. and that as into That's continue us, the push area Middle well that's an

Allen Klee

you much. thank Great, so

Paul Manley

Thank you very much, Allen.

Please Ladenburg ahead, might from final Jon. Jon, check phone? Can be you analyst Hickman Our Jon is your you Thalmann. think muted. go I

Jon Hickman

now? Can hear me you

Paul Manley

Please Thank Yes. you. ahead. go

Jon Hickman

Okay.

leads? So was about going the been my a on Can follow-up how to you could you little are please if of sales force, say elaborate? guys but that's these have work. inside questions most I to Or do bit wondering talk answered, going you

TJ Kennedy

Kevin. Yes. going just Mullins to kind of ahead, Kevin what talk Go there. I'm we've have about done

Kevin Mullins

inside the kind doing inbound, managing and really the well sales outbound lead process. building done of we've really as so as structure, what And

out group marry that our sales that we with regional there. are leaders So

make those we more able had mean a run there, And and how at making the that process channel leads we -- process, to we us was and they kind these perform very horizontal allowing the being funnel. partner with build also more distributors, and working to kind a done -- transition able easier, we've looking how being side, sales a and be that, to I out then to that vertical. them It so through as properly the into And in, something able as so at are of lot on metrics, can never smoother we scale. looking channel ultimately of partners really scalability it coming directly before. of those now

Jon Hickman

are who to So an they talking agency? at

Kevin Mullins

out can different agency, typically, So and leads that it coming demographics from there, in. are those agency size vary

to We We've lot being never the all able and drive that through had sales just a really have coming a of the to lead leads in. funnel way able It's lead follow-up being [indiscernible]. problem.

from do, officer our maybe has webinars, we lot leads that we're types from the anywhere types outreaches from we an through an So coming that that have of inquiry, events getting different of coming different a inbound of website.

we vary. problems will don't So it But any again, have with [indiscernible].

TJ Kennedy

was Jon, actually it example, have that place, and his to that news recently, One quote is to definitely week equip we just could department. local who purchased this budget that, he a excited part and was was add that about chief week, some agency. another get earlier to embrace He And from out called. department to who I had if reach had a seen and this had in himself chief him BolaWrap the had driving be call BolaWrap, their it of

everyone focused that's in than it's to making on hands down chief so of weapons an individual is less-than-lethal in that officers sure the department officer. it's not, And of on the More often the and the the specifically field. right from equipment part

Jon Hickman

sales you Or statistics purchases cartridges? bit? with down question Okay. around cartridge My of little any there break Can repeat has do devices. is to versus a that last

Chris DeAlmeida

Sure.

And they over and cartridges six those a deploy use. that cartridges recommend then, we when be replaced they purchased device, to for device they grow and to XX the continue infilled cartridge As training, typically to sales over we purchase would the for at sales department new XX time, six of look have course, time. cartridges or

as going look of always are we from the sheer number always to to standpoint. standpoint, way actually from device -- a be cassettes cartridges out are way So going

then particularly with through relatively we higher as the QX. as those some domestic to all making We side at throughout it of continue continue focuses on was the year, to the drive that will we're would that go that, QX, the flat As And international with grow we move sales look we compared stuff. to do anticipate XXXX.

Jon Hickman

Anything have I mean, -- in release -- getting all that? case do agency give you So how out a weekly on you'll you many cases use you press send on have occasionally, the a any Do at any from somewhere states. they're us know basis? I an a statistics with use like

TJ Kennedy

We one to the for do that's there's things. body-worn do Yes, other provide no for used how prosecution delayed Often, purposes in hard field. this some that us. is or is video us mandatory to things reporting often the device a or of is to evidence have departments

recent, Sometimes especially But more also with from protective regulations it's those a all don't a and Everybody they're dealing criminal, crisis. if we a different it's departments. event. individual has custody And not get in them rules necessarily reports. it's an around little

Some an use being of try going just our not. are share others cases Without we agencies is are different to mostly do to notification being know used, electronic We those very self-reporting. ways utilized. show proactive, often device to that the some how and of agency are it's off

good legs, where have the BolaWraps we've think in been bad the that seen you've We put and have around done I arms, the done ones and past weeks, been and share try the have around done ones weather torso that can. out been few to we weather.

we help amount cases to the different really are use we training a but also videos in with are, what just seeing understand the of have them We deployment. use officers broad

of BolaWrap call to you just One discussed serious. because I our it a the push of interaction. of use noticed, first to in something today, seeing it one, deployed we're minutes or three and what was into prevent the things escalating actually Many in they're earlier a trying gets today, from more two interactions for departments the

use I usage more think so going And see these that going B, from hopefully the it as in interactions escalates, road. happened usage other into to we in that of earlier before see: any the it see going A, force we're prevents and further of more to down general; we're interaction

this is for important us. So super

Jon Hickman

your for answers. Okay, sharing thanks

Paul Manley

really we are over his appreciate you, each All going comments. reading call And your support. right. again analysts, closing TJ the us, that, turn research on With for Jon. to Thank I'm to of and back you thanks that one to

TJ Kennedy

across and sitting time that and the the distributors, few move the to great the over and our a in partners lot the have the the well how in rolled already think And to ahead, team the road in go as also next this April week. for implemented want I I on exciting around went be as team our customers, we first have I of Chris will changes in to company Wrap. our quarters. and an just that believe of place ever and because be spent where Kevin when came time dramatic. on excited days been and to final to front and those to than important I going I strategic opportunity look is and our that road I and partners, more am late agencies on to first distributors about it an that as If talking in just transition hours year are key the of this strategic with this eight map, to customers feedback really we forward of back to XXXX us before with have today today's have continue to call management a map employees, XX four board today. just much is of we we And building out of to today It's joining excitement I going here have my It's additional past after really we're listen to as our that our end team. the for and listening we've us months, board going we getting factors that countless impact

we and the that serve not belt the on I the those the preventing are driving they additional and when now having difference only Wrap it such there their to have enforcement public to think Wrap. of in does us tools citizens save this us opportunities the on law options Reality focus injury and and a allows only officers escalation, also ability day. us careers they forward, have situations are on to focus of not for is market that deescalating able seeking such BolaWrap, results make see lives both careers The save that each those but able avoiding impact of who an the help lives, save be of to to safety in

the So and to to opportunity excited we work the saving here, meet is really I'm super law careers. with Wrap and being be with of that, needs lives team saving go I us enforcement to I just as tremendous. of want globally to able think forward, and wrap up excited that the ahead

Wrap (WRAP) 11 Aug 222022 Q2 Earnings call transcript