$WRAP
WRAP TECHNOLOGIES, INC.

2021 Q3 Form 10-Q Financial Statement

#000165495421008322 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $1.805M $1.934M $833.0K
YoY Change 79.25% 132.17% 1288.33%
Cost Of Revenue $1.094M $1.994M $565.0K
YoY Change 59.01% 252.92% 1312.5%
Gross Profit $711.0K -$60.00K $268.0K
YoY Change 122.88% -122.39% 1240.0%
Gross Profit Margin 39.39% -3.1% 32.17%
Selling, General & Admin $4.654M $6.579M $2.538M
YoY Change 42.98% 159.22% 71.49%
% of Gross Profit 654.57% 947.01%
Research & Development $2.076M $1.162M $577.0K
YoY Change 123.95% 101.39% 10.96%
% of Gross Profit 291.98% 215.3%
Depreciation & Amortization $69.00K $66.00K $25.00K
YoY Change 97.14% 164.0%
% of Gross Profit 9.7% 9.33%
Operating Expenses $6.730M $7.741M $3.115M
YoY Change 60.93% 148.51% 56.53%
Operating Profit -$6.019M -$7.801M -$2.847M
YoY Change 55.81% 174.01% 44.52%
Interest Expense $13.00K $8.000K $30.00K
YoY Change 30.0% -73.33% -50.0%
% of Operating Profit
Other Income/Expense, Net $28.00K $2.000K $31.00K
YoY Change 2700.0% -93.55%
Pretax Income -$5.991M -$7.799M -$2.820M
YoY Change 55.21% 176.56% 47.64%
Income Tax
% Of Pretax Income
Net Earnings -$5.991M -$7.799M -$2.816M
YoY Change 55.13% 176.95% 47.43%
Net Earnings / Revenue -331.91% -403.26% -338.06%
Basic Earnings Per Share -$0.15 -$0.20 -$0.09
Diluted Earnings Per Share -$148.2K -$204.4K -$90.27K
COMMON SHARES
Basic Shares Outstanding 40.48M shares 38.16M 31.24M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.86M $43.05M $35.39M
YoY Change -11.61% 21.65% 65.53%
Cash & Equivalents $9.858M $13.05M $35.39M
Short-Term Investments $30.00M $30.00M
Other Short-Term Assets $529.0K $824.0K $280.0K
YoY Change 76.33% 194.29% 47.37%
Inventory $2.284M $2.837M $2.090M
Prepaid Expenses
Receivables $3.257M $2.623M $490.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $45.93M $49.34M $38.24M
YoY Change -5.35% 29.02% 67.35%
LONG-TERM ASSETS
Property, Plant & Equipment $888.0K $508.0K $470.0K
YoY Change 67.55% 8.09% 4.44%
Goodwill
YoY Change
Intangibles $1.772M
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.000K $9.000K $10.00K
YoY Change -20.0% -10.0% 0.0%
Total Long-Term Assets $2.741M $2.005M $790.0K
YoY Change 215.06% 153.8% 21.54%
TOTAL ASSETS
Total Short-Term Assets $45.93M $49.34M $38.24M
Total Long-Term Assets $2.741M $2.005M $790.0K
Total Assets $48.67M $51.34M $39.03M
YoY Change -1.47% 31.54% 66.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.503M $1.280M $780.0K
YoY Change 97.76% 64.1% 85.71%
Accrued Expenses $1.366M $910.0K $460.0K
YoY Change 139.65% 97.83% 39.39%
Deferred Revenue $94.00K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $160.0K
YoY Change
Total Short-Term Liabilities $3.063M $2.577M $1.590M
YoY Change 81.24% 62.08% 112.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $260.0K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $146.0K $8.000K $100.0K
YoY Change 82.5% -92.0% -54.55%
Total Long-Term Liabilities $146.0K $8.000K $360.0K
YoY Change -45.93% -97.78% 63.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.063M $2.577M $1.590M
Total Long-Term Liabilities $146.0K $8.000K $360.0K
Total Liabilities $3.209M $2.585M $1.950M
YoY Change 63.72% 32.56% 101.03%
SHAREHOLDERS EQUITY
Retained Earnings -$44.53M -$38.54M
YoY Change
Common Stock $4.000K $4.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $45.46M $48.76M $37.08M
YoY Change
Total Liabilities & Shareholders Equity $48.67M $51.34M $39.03M
YoY Change -1.47% 31.54% 66.09%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$5.991M -$7.799M -$2.816M
YoY Change 55.13% 176.95% 47.43%
Depreciation, Depletion And Amortization $69.00K $66.00K $25.00K
YoY Change 97.14% 164.0%
Cash From Operating Activities -$3.475M -$5.814M -$1.660M
YoY Change -8.31% 250.24% -22.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.038M -$243.0K -$100.0K
YoY Change 592.0% 143.0% -9.09%
Acquisitions
YoY Change
Other Investing Activities -$4.000K $4.994M $0.00
YoY Change -99.98% -100.0%
Cash From Investing Activities -$1.042M $4.751M -$100.0K
YoY Change -95.85% -4851.0% -9.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.325M 12.12M 21.65M
YoY Change -90.3% -44.04% 67.44%
NET CHANGE
Cash From Operating Activities -3.475M -5.814M -1.660M
Cash From Investing Activities -1.042M 4.751M -100.0K
Cash From Financing Activities 1.325M 12.12M 21.65M
Net Change In Cash -3.192M 11.05M 19.89M
YoY Change -79.08% -44.43% 86.24%
FREE CASH FLOW
Cash From Operating Activities -$3.475M -$5.814M -$1.660M
Capital Expenditures -$1.038M -$243.0K -$100.0K
Free Cash Flow -$2.437M -$5.571M -$1.560M
YoY Change -33.05% 257.12% -23.15%

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wrap Common Shares Issued Upon Exercise Of Warrants At500 Per Share Net Of Issuance Costs Amount
CommonSharesIssuedUponExerciseOfWarrantsAt500PerShareNetOfIssuanceCostsAmount
8868000 USD
wrap Common Shares Issued Upon Exercise Of Warrants At650 Per Share Amount
CommonSharesIssuedUponExerciseOfWarrantsAt650PerShareAmount
544000 USD
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515000 USD
wrap Stock Issued During Period Value Restricted Stock Units Vested
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0 USD
wrap Share Based Compensation Expense
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1016000 USD
wrap Net Unrealized Gain On Short Term Investments
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0 USD
us-gaap Profit Loss
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-5162000 USD
CY2020Q2 us-gaap Stockholders Equity
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37084000 USD
us-gaap Net Income Loss
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-13228000 USD
us-gaap Net Income Loss
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-5162000 USD
us-gaap Depreciation And Amortization
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219000 USD
us-gaap Depreciation And Amortization
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52000 USD
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747000 USD
wrap Product Line Exit Expense
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0 USD
us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gain Loss On Disposition Of Assets
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0 USD
us-gaap Provision For Other Losses
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10000 USD
us-gaap Provision For Other Losses
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19000 USD
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us-gaap Inventory Write Down
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46000 USD
wrap Noncash Lease Expense
NoncashLeaseExpense
60000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
206000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-65000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-29000 USD
us-gaap Increase Decrease In Accounts Payable
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48000 USD
us-gaap Increase Decrease In Accounts Payable
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376000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-48000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Deposits
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8000 USD
us-gaap Increase Decrease In Deferred Revenue
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170000 USD
us-gaap Increase Decrease In Deferred Revenue
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0 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Repayments Of Debt
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0 USD
us-gaap Net Cash Provided By Used In Financing Activities
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12126000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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22449000 USD
us-gaap Cash Period Increase Decrease
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-3597000 USD
us-gaap Payments To Acquire Investments
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us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
18401000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16647000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16984000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13050000 USD
us-gaap Payments To Acquire Investments
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CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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wrap Change In Unrealized Gain On Short Term Investments
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-2000 USD
wrap Change In Unrealized Gain On Short Term Investments
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0 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-193000 USD
us-gaap Increase Decrease In Accrued Liabilities
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53000 USD
us-gaap Increase Decrease In Accrued Liabilities
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165000 USD
wrap Increase Decrease In Warranty Settlement
IncreaseDecreaseInWarrantySettlement
16000 USD
wrap Increase Decrease In Warranty Settlement
IncreaseDecreaseInWarrantySettlement
0 USD
wrap Proceeds From Maturities Of Short Term Investments
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20000000 USD
wrap Proceeds From Maturities Of Short Term Investments
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
367000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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69000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
96000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
82000 USD
us-gaap Proceeds From Other Deposits
ProceedsFromOtherDeposits
3000 USD
us-gaap Proceeds From Other Deposits
ProceedsFromOtherDeposits
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-5469000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-151000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
12400000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-733000 USD
us-gaap Proceeds From Warrant Exercises
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12048000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
10251000 USD
wrap Offering Costs Paid On Exercise Of Warrants
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0 USD
wrap Offering Costs Paid On Exercise Of Warrants
OfferingCostsPaidOnExerciseOfWarrants
398000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
278000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
515000 USD
wrap Proceeds From Bank Note
ProceedsFromBankNote
0 USD
wrap Proceeds From Bank Note
ProceedsFromBankNote
414000 USD
us-gaap Proceeds From Repayments Of Debt
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-200000 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 30px; text-align:justify;">The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and the rules and regulations of the Securities and Exchange Commission (“<em>SEC</em>”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles <em>(“U.S. GAAP”</em>) have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying financial statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 4, 2021. The accompanying condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated balance sheet at December 31, 2020 contained in the above referenced Form 10-K. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 30px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 30px; text-align:justify;">Where necessary, the prior year’s information has been reclassified to conform to the current year presentation.</p>
us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 30px; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions (e.g., stock-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued expense and recognition and measurement of contingencies) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6146636 shares
wrap Exit Activity Expensespolicytextblock
ExitActivityExpensespolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 30px; text-align:justify;">During the second quarter ended June 30, 2021 the Company recorded $747 of product line exit costs related to the planned wind down and closure of the BolaWrap 100 product line related to a shift in production efforts to a new generation product requiring continued development, new tooling, new production equipment and processes and additional licensing. These non-cash inventory costs included end of life raw material write offs of $531 and tooling retirement costs of $106. An additional $110 has been recorded in accrued liabilities as a reserve for estimated non-cancelable raw material purchase commitments. These cost were recorded as a component of cost of revenues. There was no such expense recorded during the three and six months ended June 30, 2020. Development and start-up expense of new products are expensed as incurred except for capitalized equipment and tooling.</p>
wrap Product Line Exit Expense
ProductLineExitExpense
747000 USD
wrap Write Off Inventory Cost
WriteOffInventoryCost
531000 USD
wrap Retiring Cost
RetiringCost
106000 USD
CY2021Q2 wrap Raw Material Purchase Reserve
RawMaterialPurchaseReserve
110000 USD
CY2021Q2 us-gaap Deferred Revenue
DeferredRevenue
186000 USD
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
16000 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
13000 USD
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2190000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1249000 USD
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
152000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
64000 USD
CY2021Q2 us-gaap Inventory Raw Materials
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495000 USD
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1342000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
2837000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
2655000 USD
wrap Write Off Inventory Cost
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531000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
774000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
574000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
266000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
217000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
508000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
357000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
66000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
122000 USD
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47000 USD
us-gaap Production Costs
ProductionCosts
106000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1170000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1076000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
119000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
23000 USD
CY2021Q2 wrap Finite Lived Intangible Assets Gross Other
FiniteLivedIntangibleAssetsGrossOther
1051000 USD
CY2020Q4 wrap Finite Lived Intangible Assets Gross Other
FiniteLivedIntangibleAssetsGrossOther
1053000 USD
CY2021Q2 wrap Indefinite Lived Intangible Assets Gross
IndefiniteLivedIntangibleAssetsGross
344000 USD
CY2020Q4 wrap Indefinite Lived Intangible Assets Gross
IndefiniteLivedIntangibleAssetsGross
344000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1395000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1397000 USD
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
49000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
97000 USD
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
90000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
151000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
146000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
146000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
146000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
372000 USD
CY2021Q2 wrap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
1051000 USD
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RawMaterialPurchaseReserve
0 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
74000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
48000 USD
CY2021Q2 wrap Accrued Consulting Costs
AccruedConsultingCosts
0 USD
CY2020Q4 wrap Accrued Consulting Costs
AccruedConsultingCosts
2000 USD
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22000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
43000 USD
CY2021Q2 us-gaap Accrued Liabilities Current
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910000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
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721000 USD
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110000 USD
CY2021Q2 wrap Accrued Patent And Legal Costs
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89000 USD
CY2020Q4 wrap Accrued Patent And Legal Costs
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65000 USD
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
615000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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563000 USD
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110000 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
20000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
46000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
30000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
60000 USD
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
23000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
50000 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
34000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
69000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
94000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
102000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
48000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
58000 USD
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
106000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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4000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
102000 USD
wrap Weighted Average Remaining Lease Term
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P1Y29D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070 pure
CY2021Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
97000 USD
CY2021Q2 wrap Contingent Consideration
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23000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
298000 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
275000 USD
CY2020Q4 wrap Contingent Consideration
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23000 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
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150000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
wrap Shares Purchasable Under Outstanding Warrants At December312020 Beginning
SharesPurchasableUnderOutstandingWarrantsAtDecember312020Beginning
3206910 shares
wrap Average Purchase Price Per Share Outstanding Beginning
AveragePurchasePricePerShareOutstandingBeginning
6.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1815012 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageGrantDateFairValue
6.64
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231 shares
wrap Expired Price Per Share
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7.58
wrap Shares Purchasable Under Outstanding Warrants At March312021 Ending
SharesPurchasableUnderOutstandingWarrantsAtMarch312021Ending
1391667 shares
wrap Average Purchase Price Per Share Outstanding Ending
AveragePurchasePricePerShareOutstandingEnding
6.00
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NumberOfOptionsOutstandingBeginning
3931586 shares
wrap Weighted Average Exercise Price Outstanding Beginning
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4.41
wrap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
P4Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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847500 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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5.34
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-157066 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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1.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
209799 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.95
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NumberOfOptionsOutstandingEnding
4412221 shares
wrap Weighted Average Exercise Price Outstanding Ending
WeightedAverageExercisePriceOutstandingEnding
4.66
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y29D
wrap Aggregate Intrinsic Value Outstanding Ending
AggregateIntrinsicValueOutstandingEnding
16765000 USD
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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2316429 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.13
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y3M7D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
11780000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.50 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45 pure
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2148000 USD
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
549000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3007000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0092 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0042 pure
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0 pure
us-gaap Share Based Compensation
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1016000 USD
CY2021Q2 wrap Total Stock Option Granted And Outstanding But Not Yet Vested
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4983000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.46
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.86
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
428006 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
342274 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
5.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
6.10
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
342748 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P1Y10M24D
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y4M24D
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1759000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
wrap Description Of Commitment And Contengencies
DescriptionOfCommitmentAndContengencies
royalty payments of 4% of revenue from products employing the licensed ensnarement device technology up to an aggregate of $1,000,000 in royalties or until September 30, 2026
CY2021Q2 us-gaap Royalty Expense
RoyaltyExpense
68000 USD
CY2020Q2 us-gaap Royalty Expense
RoyaltyExpense
119000 USD
us-gaap Royalty Expense
RoyaltyExpense
28000 USD
us-gaap Royalty Expense
RoyaltyExpense
53000 USD
CY2021Q2 us-gaap Contractual Obligation
ContractualObligation
1005000 USD
us-gaap Revenues
Revenues
1522000 USD
CY2021Q2 us-gaap Revenues
Revenues
1934000 USD
CY2020Q2 us-gaap Revenues
Revenues
833000 USD
us-gaap Revenues
Revenues
3476000 USD

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0001654954-21-008322.txt Edgar Link pending
0001654954-21-008322-xbrl.zip Edgar Link pending
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wrap-20210630.xsd Edgar Link pending
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