Wrap Technologies, Inc.
WRAP Technology Scientific & Technical Instruments
Wrap Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 million, up 3.66% from fiscal 2024. In the quarter to June 2026, revenue grew 102.8%, EPS grew 42.9% and free cash flow fell 21.3%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Wrap Technologies, Inc. (WRAP) Beneish M-score
Wrap Technologies, Inc.'s Beneish M-score for fiscal 2025 is 1.64; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | 1.64 | 4.41 |
| FY2024 | −2.77 | 3.58 |
| FY2023 | −6.35 | (3.19) |
| FY2022 | −3.17 | (1.18) |
| FY2021 | −1.98 | (4.55) |
| FY2020 | 2.57 | (21.82) |
| FY2019 | 24.39 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 5.24 | — | 4.82 | |
| Gross margin index | 0.95 | — | 0.50 | |
| Asset quality index | 0.84 | — | 0.34 | |
| Sales growth index | 1.04 | — | 0.92 | |
| Depreciation index | 1.03 | — | 0.12 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | 0.00 | — | −0.01 | |
| Leverage index | 0.13 | — | −0.04 | |
| Beneish M-score | Flagged by the model | 1.64 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ODYS Odysight.ai Inc. compare | −4.2× |
| ACFN Acorn Energy Inc. compare | −2.8× |
| MIND MIND Technology, Inc. compare | −2.6× |
| SOTK Sono-Tek Corporation compare | −2.5× |
| GNSS Genasys Inc. compare | −2.5× |
| LGL LGL Group, Inc. (The) compare | −2.2× |
| WRAP Wrap Technologies, Inc. | 1.6× |
| USBC USBC, INC. compare | — |
| ARBE Arbe Robotics Ltd. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI