Track market-moving stories before they get noisy

Posted by Defense World Staff on Apr 29th, 2026

Comerica Bank raised its stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 36.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,756 shares of the construction company’s stock after buying an additional 12,190 shares during the quarter. Comerica Bank owned about 0.11% of Watsco worth $15,417,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC grew its position in shares of Watsco by 3.8% during the 4th quarter. CWM LLC now owns 710 shares of the construction company’s stock worth $239,000 after buying an additional 26 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Watsco by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,559 shares of the construction company’s stock valued at $525,000 after purchasing an additional 30 shares during the period. Apollon Wealth Management LLC grew its position in shares of Watsco by 6.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 601 shares of the construction company’s stock valued at $243,000 after purchasing an additional 34 shares during the period. Applied Capital LLC FL grew its position in shares of Watsco by 0.5% in the 3rd quarter. Applied Capital LLC FL now owns 6,993 shares of the construction company’s stock valued at $2,827,000 after purchasing an additional 36 shares during the period. Finally, Profund Advisors LLC grew its position in shares of Watsco by 4.7% in the 3rd quarter. Profund Advisors LLC now owns 805 shares of the construction company’s stock valued at $325,000 after purchasing an additional 36 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Performance Shares of WSO opened at $439.99 on Wednesday. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $496.25. The stock has a 50 day simple moving average of $397.51 and a 200 day simple moving average of $376.15. The firm has a market capitalization of $17.86 billion, a PE ratio of 36.33 and a beta of 1.06.

Watsco (NYSE:WSO – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. Watsco had a return on equity of 15.49% and a net margin of 6.87%.The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The business’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that Watsco, Inc. will post 12.53 EPS for the current fiscal year.

Watsco Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be given a dividend of $3.30 per share. This is an increase from Watsco’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $13.20 dividend on an annualized basis and a yield of 3.0%. Watsco’s payout ratio is currently 109.00%.

Trending Headlines about Watsco Here are the key news stories impacting Watsco this week:

Positive Sentiment: Signed definitive agreement to acquire Jackson Supply Company (about $230M of annual sales) to add scale in core Sunbelt markets and advance Watsco’s buy‑and‑build strategy — a clear strategic growth move. Watsco To Acquire Jackson Supply Company Positive Sentiment: Q1 results beat consensus: EPS $1.87 vs. ~$1.70 estimate and revenue $1.53B vs. ~$1.48B; company also raised its dividend — supports cash-return thesis and long‑term shareholder value. Watsco (WSO) Q1 Earnings and Revenues Surpass Estimates Neutral Sentiment: Management emphasized a “digital push” and technology adoption on the earnings call, describing cautious optimism about longer‑term efficiency gains — positive strategically but not an immediate earnings fix. Watsco Earnings Call: Digital Push Drives Cautious Optimism Negative Sentiment: Underlying profitability showed pressure: gross margin dipped slightly (~27.9% vs. 28.1% a year ago), operating income declined ~2% (~$110M) and EPS fell year‑over‑year — factors that likely drove the selloff despite the beat. Watsco shares slide as Q1 results show slight margin and EPS pressure despite flat revenue Negative Sentiment: Sales mix was uneven: U.S. sales rose modestly (~+2%) while international sales fell (~-11%), HVAC equipment volumes were down ~1% — sign that seasonal demand and geographic exposure remain risks near term. Watsco, Inc. (WSO) Q1 2026 Earnings Call Transcript Wall Street Analysts Forecast Growth Several brokerages recently issued reports on WSO. Morgan Stanley decreased their price objective on Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 14th. UBS Group began coverage on Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price objective for the company. Zacks Research upgraded Watsco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price objective on Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Finally, Mizuho set a $425.00 price objective on Watsco in a research report on Wednesday, February 18th. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $382.80.

Check Out Our Latest Report on WSO

About Watsco (Free Report)

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.

Featured Stories Five stocks we like better than Watsco Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO – Free Report).

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It has been about a month since the last earnings report for Watsco (WSO - Free Report) . Shares have lost about 11.1% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Watsco due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Watsco, Inc. before we dive into how investors and analysts have reacted as of late.

Watsco Q1 Earnings & Revenues Beat Estimates as A2L Transition MaturesWatsco reported first-quarter 2026 results with earnings and revenues beating the Zacks Consensus Estimate.    While the top line increased and the bottom line tumbled on a year-over-year basis.

Management characterized first-quarter conditions as more stable, pointing to a more “simplified business environment” now that the transition to A2L products has matured. The company said it expects a more normalized operating backdrop in 2026, while still emphasizing that it remained early in the seasonal selling period.

Inside WSO’s Q1 HeadlinesThe company reported earnings of $1.87 per share, which beat the Zacks Consensus Estimate of $1.73 by 8.1%. Earnings declined 3.1% from $1.93 a year ago.

Revenues were $1.53 billion, up 0.1% year over year and beat the consensus mark of $1.50 billion by 2%.

Inside WSO’s Q1 Revenue Mix and Demand SignalsSales increased 2% in U.S. markets in the first quarter, while international sales declined 11%. By product line, HVAC equipment sales decreased 1%, other HVAC products rose 4%, and commercial refrigeration products increased 11%. HVAC equipment remained the largest contributor at 65% of sales, followed by other HVAC products at 30% and commercial refrigeration at 5%.

Management noted that unit volumes stabilized as the quarter progressed, but the company still cited lingering disruption from last year’s A2L transition, lower home-building activity and more restrained consumer spending for replacement systems and upgrades.

Watsco’s Profitability Slips as Mix ShiftsGross profit was $427.6 million versus $429.6 million in the year-ago quarter. Gross margin declined 20 basis points to 27.9%, which management attributed primarily to the sales mix of HVAC equipment in 2026 compared with 2025.

Selling, general and administrative expenses were essentially flat at $322.9 million and stayed consistent at 21.1% of revenues. Operating income was $110.2 million, translating to a 7.2% operating margin versus 7.3% in the prior-year quarter, reflecting limited leverage on largely unchanged expense levels.

Watsco’s Cash Use Improves and Balance Sheet Stays CleanWatsco ended the quarter with $392.7 million in cash and cash equivalents, down from $433.3 million as of Dec. 31, 2025. It also held $200 million of short-term cash investments and reported no outstanding borrowings under its revolving credit agreement at March 31, 2026.

Cash used in operating activities was $18.9 million in the first quarter of 2026, a sharp improvement from $177.6 million of cash used in the year-ago quarter. Management attributed the year-over-year change primarily to the timing of vendor payments and an increase in accounts receivable in 2026 versus 2025.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

VGM ScoresAt this time, Watsco has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Watsco has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerWatsco belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, Crane (CR - Free Report) , has gained 1.5% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Crane reported revenues of $696.4 million in the last reported quarter, representing a year-over-year change of +24.9%. EPS of $1.65 for the same period compares with $1.39 a year ago.

Crane is expected to post earnings of $1.65 per share for the current quarter, representing a year-over-year change of +10.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +3%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Crane. Also, the stock has a VGM Score of C.

Key Takeaways Watsco acquired Jackson Supply, adding 25 Sunbelt locations and expanding market reach.Jackson Supply generated $230M in 2025 sales and will operate independently under Watsco.E-commerce sales rose 16% in Q1 2026, with digital sales reaching 36% of total revenues. Watsco, Inc. (WSO - Free Report) has acquired Jackson Supply Company, which was reportedly announced on April 28, 2026.

WSO stock gained 1.2% during yesterday’s trading hours, post the acquisition announcement.

Watsco’s Bet on Jackson SupplyWith sales worth $230 million (as of 2025), Jackson Supply is one of the prominent HVAC distributors in the Sunbelt region of the United States. Its diversified and well-balanced product portfolio features Goodman and Amana-branded HVAC equipment manufactured by Daikin Comfort Technologies North America, Inc., along with a wide range of supplies, accessories and replacement parts sourced from nearly 200 vendors.

Jackson Supply will retain its name, vendor relationships, market strategy, brand identity and cultural elements even after the acquisition. The company will be operating as an independent business under Watsco.

This strategic buyout is expected to meaningfully expand Watsco’s geographic footprint in 25 locations across the Sunbelt, including Texas, Louisiana, Tennessee, Alabama, Mississippi, Oklahoma and Arizona. Besides, this transaction aligns with WSO’s ongoing efforts to expand its share of the estimated $74 billion North American HVAC/R distribution market.

WSO’s Efforts to Drive PerformanceApart from strategic acquisitions, Watsco indulges in organic business investments aimed at boosting its profitability and strengthening growth prospects. The company intends to continue emphasizing operating discipline through structural investments in pricing optimization, inventory management and technology. It is accelerating the deployment of pricing optimization tools, enhancing inventory efficiency through its Hydros system and expanding initiatives in the fragmented parts and supplies market.

Besides, digital adoption continues to deepen across Watsco’s contractor base, supporting both revenue capture and customer retention. In the first quarter of 2026, e-commerce sales increased 16% compared with the prior year, and e-commerce sales for the trailing 12 months were approximately $2.6 billion, representing 36% of total sales.

Shares of this HVAC/R distributor in North America have gained 8% in the year-to-date period, outperforming the Zacks Manufacturing - General Industrial industry. Its ongoing technology investment, pricing optimization and AI-driven tools inclusion support its long-term margin expansion and deepen contractor engagement.

Image Source: Zacks Investment Research

WSO Stock’s Zacks Rank & Key PicksWatsco currently carries a Zacks Rank #3 (Hold).

Here are some better-ranked stocks from the Industrial Products sector.

Helios Technologies, Inc. (HLIO - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Helios delivered a trailing four-quarter earnings surprise of 15.7%, on average. The stock has climbed 56.1% year to date. The Zacks Consensus Estimate for Helios’ 2026 sales and earnings per share (EPS) indicates improvements of 2.9% and 12.9%, respectively, from a year ago.

Century Aluminum Company (CENX - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter negative earnings surprise of 75.7%, on average. Shares of Century Aluminum have surged 75.6% year to date.

The Zacks Consensus Estimate for Century Aluminum’s 2026 sales and EPS indicates growth of 39.2% and 2,876.2%, respectively, from the prior-year levels.

The Gorman-Rupp Company (GRC - Free Report) currently sports a Zacks Rank of 1. Gorman-Rupp delivered a trailing four-quarter earnings surprise of 17.6%, on average. The stock has gained 58.3% year to date.

The Zacks Consensus Estimate for Gorman-Rupp’s 2026 sales and EPS implies an increase of 6.5% and 21.5%, respectively, from a year ago.

XPEL gained direct control of China operations, unlocking a major growth catalyst in the large automotive market. China revenue surged 65.3% post-acquisition, now representing 8.4% of total revenue, with further upside potential as market penetration deepens. XPEL's 13.3% FY 2025 revenue growth outpaces the 5–7% industry CAGR, highlighting competitive strength and accelerating momentum.

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) a global provider of protective films and coatings, today announced it will host a conference call and webcast on Wednesday, May 6, 2026 at 11:00 a.m. Eastern Time to discuss the Company’s first quarter 2026 results.

To access the live webcast, please visit the XPEL, Inc. website at https://investor.xpel.com/events-and-presentations.

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 801750.

A replay of the teleconference will be available until June 6, 2026 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53842.

About XPEL, Inc.

XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.

Safe harbor statement

This release includes forward-looking statements regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, and execution of the company's growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company's products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

More News From XPEL, Inc.

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announced consolidated results1 for the first quarter ended March 31, 2026.

First Quarter 2026 Overview:

Revenue increased 13.1% to $117.4 million in the first quarter of 2026 compared to $103.8 million in the first quarter of 2025. Gross margin of 43.7% in the first quarter of 2026 compared to 42.3% in the first quarter last year. Net income attributable to stockholders of the company increased 20.5% to $10.3 million, or $0.37 per basic and $0.37 per diluted share, respectively, versus net income attributable to stockholders of the company of $8.6 million, or $0.31 per basic and diluted share in the first quarter of 2025. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 17.8% to $17.0 million, or 14.5% of revenue, compared to $14.4 million, or 13.9% of revenue in the first quarter of 2025. Ryan Pape, President and Chief Executive Officer of XPEL, commented, "We delivered solid top and bottom line performance in the first quarter and we are off to a good start for the year. As we continue through 2026, we remain focused on executing on our strategic initiatives and continuing to drive operating leverage."

Financial Highlights for the First Quarter 2026:

Summary consolidated financial information for the first quarter ended March 31, 2026 and 2025 (unaudited, dollars in thousands):

Three Months Ended March 31,

% Change

2026

%
of Total
Revenue

2025

%
of Total
Revenue

2026 vs.
2025

Total revenue

$

117,354

100.0

%

$

103,805

100.0

%

13.1

%

Gross margin

51,230

43.7

%

43,896

42.3

%

16.7

%

Operating Expenses

38,219

32.6

%

32,776

31.6

%

16.6

%

Net income attributable to stockholders of the Company

10,345

8.8

%

8,586

8.3

%

20.5

%

EBITDA2

16,973

14.5

%

14,411

13.9

%

17.8

%

Net cash provided by operating activities

$

7,379

6.3

%

$

3,228

3.1

%

128.6

%

Geographical Revenue Summary

  Three Months Ended

March 31,

% Change

% of Total
Revenue

2026

2025

Inc (Dec)

2026

2025

United States

$

63,842

$

58,073

9.9

%

54.4

%

56.0

%

Canada

8,400

9,426

(10.9

)%

7.2

%

9.1

%

North America

72,242

67,499

7.0

%

61.6

%

65.1

%

China

11,709

8,107

44.4

%

10.0

%

7.8

%

Asia Other

5,693

4,550

25.1

%

4.8

%

4.3

%

Asia Pacific

17,402

12,657

37.5

%

14.8

%

12.1

%

EU, UK, and Africa

17,857

15,010

19.0

%

15.2

%

14.4

%

India and Middle East

6,767

6,077

11.4

%

5.8

%

5.9

%

Latin America

3,086

2,562

20.5

%

2.6

%

2.5

%

Total

$

117,354

$

103,805

13.1

%

100.0

%

100.0

%

Overall Revenue

Total revenue grew 13.1% compared to first quarter 2025 ("YoY"). US revenue increased 9.9%YoY. Product and Service Revenue

Adjusted product revenue (combining cutbank credits revenue and product revenue) increased 10.2% YoY. Total window film revenue increased 24.8% YoY and represented 19.8% of total revenue. Total service revenue increased 14.1% YoY. Total installation revenue (labor and product combined) grew 24.3% YoY. Other Financial Information

Gross margin was 43.7% and 42.3% in the first quarter of 2026 and 2025, respectively. Total operating expenses increased 16.6% YoY. Sales and marketing expenses increased 27.7% YoY and represented 12.9% of revenue. General and administrative expenses increased 10.3% YoY and represented 19.6% of revenue. Cash Flows from Operations

Cash flows provided by operations were $7.4 million in the first quarter 2026 compared to $3.2 million in the first quarter of 2025. 2026 Second Quarter Outlook

The Company expects second quarter 2026 revenue of approximately $135 - $137 million. Please see the information under "Forward-looking Statements" below regarding certain cautionary statements relating to our 2026 Second Quarter Outlook.

Conference Call Information

The Company will host a conference call and webcast today, May 6, 2026 at 11:00 a.m. Eastern Time to discuss the Company’s first quarter 2026 results.

To access the live webcast, please visit the XPEL, Inc. website at www.xpel.com/events-presentations.

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 801750.

A replay of the teleconference will be available until June 6, 2026 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53842.

About XPEL, Inc.

XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.

Forward-looking Statements

This release includes forward-looking statements (within the meaning of Section 27A of the Securities act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, execution of the company's growth strategy and outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and assumptions of the management of XPEL. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: competition, a prolonged or material contraction in automotive sales and production volumes, disruption in our supply chain, technology that could render our products obsolete, changes in the way vehicles are sold, damage to our brand and reputation, cyber events and other legal and regulatory developments. There are several risks, uncertainties, and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Report on Form 10-K. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measure

To aid in the understanding of XPEL's ongoing business performance, XPEL uses EBITDA, a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of XPEL's financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly title measures. For a full reconciliation of EBITDA to comparable GAAP measure, refer to the reconciliation titled "Reconciliation of Non-GAAP Financial Measure."

XPEL, Inc.

Consolidated Statements of Income (Unaudited)

(In thousands except per share data)

  Three Months Ended March 31,

2026

2025

Revenue

Product revenue

$

88,714

$

78,712

Service revenue

28,640

25,093

Total revenue

117,354

103,805

Cost of Sales

Cost of product sales

52,365

48,439

Cost of service

13,759

11,470

Total cost of sales

66,124

59,909

Gross Margin

51,230

43,896

Operating Expenses

Sales and marketing

15,163

11,875

General and administrative

23,056

20,901

Total operating expenses

38,219

32,776

Operating Income

13,011

11,120

Interest expense

4

75

Foreign exchange gain

(280

)

(235

)

Income before income taxes

13,287

11,280

Income tax expense

2,782

2,694

Net Income

$

10,505

$

8,586

Net income attributed to non-controlling interest

160

—

Net income attributable to stockholders of the Company

$

10,345

$

8,586

Earnings per share attributable to stockholders of the Company

Basic

$

0.37

$

0.31

Diluted

$

0.37

$

0.31

Weighted Average Number of Common Shares Outstanding

Basic

27,589

27,655

Diluted

27,666

27,676

XPEL, Inc.

Consolidated Balance Sheets

(In thousands except share and per share data)

  (Unaudited)
March 31, 2026

(Audited)
December 31, 2025

Assets

Current

Cash and cash equivalents

$

45,106

$

50,864

Accounts receivable, net

53,515

49,846

Inventory

131,575

122,755

Prepaid expenses and other current assets

7,002

6,651

Income tax receivable

—

581

Total current assets

237,198

230,697

Property and equipment, net

24,102

15,797

Right-of-use lease assets

19,656

21,561

Intangible assets, net

48,446

49,620

Deferred tax asset, net

625

—

Other non-current assets

7,020

5,574

Goodwill

57,400

59,277

Total assets

$

394,447

$

382,526

Liabilities

Current

Current portion of notes payable

$

—

$

59

Current portion of lease liabilities

5,741

6,094

Accounts payable and accrued liabilities

61,365

54,289

Income tax payable

1,389

—

Other short-term liabilities

8,728

10,558

Total current liabilities

77,223

71,000

Deferred tax liability, net

—

120

Other long-term liabilities

9,553

9,511

Non-current portion of lease liabilities

15,081

16,710

Total liabilities

101,857

97,341

Stockholders’ equity

Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding

—

—

Capital stock, $0.001 par value; 100,000,000 shares authorized; 27,705,220 and 27,682,807, issued, respectively

28

28

Additional paid-in-capital

18,680

18,049

Accumulated other comprehensive loss

(944

)

(135

)

Retained earnings

275,685

265,339

Treasury stock, 147,645 and 78,624 shares at cost, respectively

(5,938

)

(2,999

)

Stockholders’ equity

287,511

280,282

Non-controlling interest

5,079

4,903

Total stockholders’ equity

292,590

285,185

Total liabilities and stockholders’ equity

$

394,447

$

382,526

XPEL, Inc.

Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

  Three Months Ended
March 31,

(Unaudited)

(Unaudited)

2026

2025

Cash flows from operating activities

Net income

$

10,505

$

8,586

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation of property, plant and equipment

1,623

1,535

Amortization of intangible assets

2,059

1,521

Gain on sale of property and equipment

(10

)

—

Stock compensation

934

679

Provision for credit losses

343

73

Deferred income tax

(442

)

(766

)

Changes in assets and liabilities:

Accounts receivable, net

(4,267

)

(3,915

)

Inventory

(8,959

)

(4,188

)

Prepaid expenses and other current assets

(1,492

)

(551

)

Income taxes receivable and payable

1,493

2,954

Accounts payable and accrued liabilities

5,592

(2,700

)

Net cash provided by operating activities

7,379

3,228

Cash flows used in investing activities

Purchases of property, plant and equipment

(9,715

)

(1,003

)

Proceeds from sale of property and equipment

40

2

Acquisition of businesses, net of cash acquired

—

(42

)

Development of intangible assets

(218

)

(513

)

Net cash used in investing activities

(9,893

)

(1,556

)

Cash flows from financing activities

Restricted stock withholding taxes paid in lieu of issued shares

(303

)

(93

)

Repayments of notes payable

(59

)

(77

)

Payments of deferred acquisition consideration

(270

)

—

Purchases of treasury shares

(2,939

)

—

Net cash used in financing activities

(3,571

)

(170

)

Net change in cash and cash equivalents

(6,085

)

1,502

Foreign exchange impact on cash and cash equivalents

327

(48

)

(Decrease) increase in cash and cash equivalents during the period

(5,758

)

1,454

Cash and cash equivalents at beginning of period

50,864

22,087

Cash and cash equivalents at end of period

$

45,106

$

23,541

Supplemental schedule of non-cash activities

Non-cash lease financing

$

158

$

832

Issuance of Common Stock for vested restricted stock units

$

1,227

$

190

Non-cash minority interest contribution

$

16

$

—

Supplemental cash flow information

Cash paid for income taxes

$

1,273

$

519

Cash paid for interest

$

—

$

89

Reconciliation of Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of our financial performance under GAAP and should not be considered as alternatives to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.

EBITDA does not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of ongoing operations and other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.

EBITDA Reconciliation (in thousands)

  Three Months Ended March 31,

(Unaudited)

(Unaudited)

2026

2025

Net Income

$

10,505

$

8,586

Interest

4

75

Taxes

2,782

2,694

Depreciation

1,623

1,535

Amortization

2,059

1,521

EBITDA

$

16,973

$

14,411

More News From XPEL, Inc.

XPEL, Inc. (XPEL) Q1 2026 Earnings Call Transcript

SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, today announced two significant milestones in the execution of the manufacturing and supply chain investment strategy first outlined in November 2025. The Company expects to invest approximately $110 million in aggregate across these initiatives, including real estate, capital expenditures, and the acquisition of a manufacturing facility in China. The total investment falls within the previously communicated $75 million to $150 million investment range.

Expansion of San Antonio Operations

The Company has purchased a four-building site totaling approximately 435,000 square feet in San Antonio, Texas, in which the Company is a substantial tenant. This site will serve as the centerpiece of the Company’s North American manufacturing and operations footprint. The Company believes that acquiring a facility in which the Company already operates materially reduces execution risk and timelines, allowing the Company to scale without disruption to ongoing operations while maximizing prior capital investments made into facility.

Over the next 12 to 24 months, the Company plans to consolidate a separate leased operations facility into this building. Overall, the Company will occupy approximately 230,000 square feet of the total site.

The remainder of the site is currently leased to third parties, which provides the Company with significant flexibility and optionality for further expansion as future needs evolve.

This investment is intended to complement, and not replace, the Company’s existing supplier relationships, which remain an important part of the overall supply chain strategy.

Ryan Pape, President and Chief Executive Officer of XPEL, commented, "San Antonio has been XPEL's home for more than two decades, and we're proud to make a long-term commitment of this scale to our employees and to the city. This site gives us the space to consolidate, the room to grow our in-house manufacturing capabilities, and the flexibility to adapt as our needs evolve. It's the right footprint for the next phase of the business."

Acquisition of Manufacturing Facility in China

Separately, XPEL has acquired a manufacturing facility in China. The facility will support the Company's customers in China—where XPEL has invested significantly in its direct go-to-market presence in recent years, including the previously announced acquisition of the Company's Chinese aftermarket distributor in September 2025.

Pape continued, "Acquiring manufacturing capacity in China is a natural extension of the direct-market strategy we've executed across our key international markets. Having local production positions us to better serve the largest car market in the world."

Funding

The Company expects to fund the initiative through a combination of cash on hand, cash flow from operations and new financing associated with the real estate purchase. Apart from the real estate financing, the Company expects to fund the majority of the remaining investment from operating cash flow over the next two years.

The Company believes this funding approach preserves meaningful cash flow and debt capacity to continue to pursue other strategic initiatives or return cash to shareholders.

Reaffirmation of 2028 Margin Targets

These investments are consistent with the financial framework the Company communicated in November 2025. The Company remains committed to its goal of operating margins in the mid-20% range on a run-rate basis by the end of 2028

Excluding one-time costs associated with these transactions, the Company anticipates minimal impact to 2026 EPS from these initiatives as the incremental expense associated with the increased occupancy costs and buildout progression of its operations is expected to be mostly offset by the benefits and synergies from the acquisition of the China manufacturing facility. The Company anticipates beginning to recognize incremental margin contribution from these initiatives beginning in mid-2027.

Pape added, "The investments we are making — in San Antonio, in China, and across our supply chain — are designed to improve our agility and quality while increasing the rate of innovation and responsiveness to the varied needs of our global customer base.”

About XPEL, Inc.

XPEL is a leading provider of protective films and coatings, including paint protection film, surface protection film, window films, and ceramic coatings in the automotive, architectural, and marine industries. With a global footprint, a network of trained installers, and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support, and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol "XPEL". For more information, please visit www.xpel.com or investor.xpel.com.

Forward-Looking Statements

This release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding, among other things, the Company's plans, strategies and prospects, both business and financial, including, without limitation, statements regarding the expected timing, cost, scope and benefits of the Company's planned expansion of its San Antonio operations and the acquisition and integration of its manufacturing facility in China; expectations regarding the Company's manufacturing and supply chain investments; the Company's expected sources of funding for these initiatives, including cash on hand, cash flow from operations, and additional debt; expectations regarding the Company's available cash flow and debt capacity to pursue share repurchases and tuck-in acquisitions; the Company's gross margin, operating margin, and other financial targets for 2028 and beyond; and the Company's continued use of third-party suppliers. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions or expectations. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including those described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

More News From XPEL, Inc.

Analysts on Wall Street project that XPO (XPO - Free Report) will announce quarterly earnings of $0.89 per share in its forthcoming report, representing an increase of 21.9% year over year. Revenues are projected to reach $2.06 billion, increasing 5.4% from the same quarter last year.

Over the last 30 days, there has been an upward revision of 1.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Bearing this in mind, let's now explore the average estimates of specific XPO metrics that are commonly monitored and projected by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Revenue- European Transportation Segment' of $832.08 million. The estimate points to a change of +6.4% from the year-ago quarter.

Analysts expect 'Revenue- North American Less-Than-Truckload Segment' to come in at $1.22 billion. The estimate indicates a change of +3.7% from the prior-year quarter.

Analysts' assessment points toward 'Adjusted operating ratio' reaching 84.3%. The estimate is in contrast to the year-ago figure of 85.9%.

According to the collective judgment of analysts, 'Number of working days' should come in at 63 . Compared to the present estimate, the company reported 63 in the same quarter last year.

The combined assessment of analysts suggests that 'Shipments per day' will likely reach 49,223 . The estimate compares to the year-ago value of 48,400 .

It is projected by analysts that the 'Gross revenue per hundredweight (excluding fuel surcharges)' will reach $25.86 . The estimate compares to the year-ago value of $24.73 .

Analysts predict that the 'Gross revenue per hundredweight (including fuel surcharges)' will reach $30.11 . Compared to the present estimate, the company reported $29.06 in the same quarter last year.

The consensus among analysts is that 'Average weight per shipment' will reach $1327.2 pounds. The estimate compares to the year-ago value of $1352.0 pounds.

Analysts forecast 'Net revenue per shipment' to reach $399.45 . The estimate compares to the year-ago value of $384.27 .

The average prediction of analysts places 'Pounds per day' at 65 millions of pounds. The estimate compares to the year-ago value of 65 millions of pounds.

Based on the collective assessment of analysts, 'Adjusted EBITDA- European Transportation Segment' should arrive at $32.26 million. The estimate is in contrast to the year-ago figure of $32.00 million.

The consensus estimate for 'Adjusted EBITDA- North American Less-Than-Truckload Segment' stands at $284.34 million. The estimate is in contrast to the year-ago figure of $250.00 million.

View all Key Company Metrics for XPO here>>>

XPO shares have witnessed a change of +14.1% in the past month, in contrast to the Zacks S&P 500 composite's +12.2% move. With a Zacks Rank #3 (Hold), XPO is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

GREENWICH, Conn., April 30, 2026 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO) today announced its financial results for the first quarter 2026. The company reported diluted earnings per share of $0.85, compared with $0.58 for the same period in 2025, and adjusted diluted earnings per share of $1.01, compared with $0.73 for the same period in 2025.

 First Quarter 2026 Summary Results                   Three Months Ended March 31,  Revenue Operating Income (Loss)(in millions)  2026  2025 Change %  2026  2025 Change %North American Less-Than-Truckload Segment $1,229 $1,172 4.9% $189 $158 19.6%European Transportation Segment  868  782 11.0%  (6)  1 NMCorporate  -  - 0.0%  (9)  (9) 0.0%Total $2,096 $1,954 7.3% $174 $151 15.2%                   Adjusted Operating Income(1) Adjusted EBITDA(1)(in millions)  2026  2025 Change %  2026  2025 Change %North American Less-Than-Truckload Segment $198 $165 20.0% $290 $250 16.0%European Transportation Segment  6  6 0.0%  33  32 3.1%Corporate  NA  NA NA  (4)  (4) 0.0%Total $NA $NA NA $319 $278 14.7%                   Net Income Diluted EPS(in millions, except for per-share data)  2026  2025 Change %  2026  2025 Change %Total $101 $69 46.4% $0.85 $0.58 46.6%                   Diluted Weighted-Average Common Shares Outstanding               Adjusted Diluted EPS(1)(in millions, except for per-share data)  2026  2025    2026  2025 Change %Total  119  120   $1.01 $0.73 38.4%                 Amounts may not add due to rounding.NM - Not meaningfulNA - Not applicable(1)See the “Non-GAAP Financial Measures” section of the press release.  Mario Harik, chairman and chief executive officer of XPO, said, “We reported a strong start to 2026, with 38% growth in adjusted diluted EPS and 15% growth in adjusted EBITDA, year-over-year. These results mark an acceleration in our performance and the momentum we’re building across the business.

“In North American LTL, we increased adjusted operating income by 20% year-over-year and improved our adjusted operating ratio by 200 basis points to 83.9%, significantly outperforming seasonality. This was supported by profitable market share gains and above-market pricing growth earned through continuous service improvements. We reduced our damage claims ratio to less than 0.2%, with damages at a record low. And we surpassed our productivity targets by leveraging AI to operate our network more efficiently.”

Harik concluded, “We’re continuing to deliver robust incremental margins and industry-leading operating ratio improvement, with the greatest upside still ahead. We have a clear path to compounding earnings growth and accelerating free cash flow generation, with returns amplified as freight demand recovers."

First Quarter Highlights

For the first quarter 2026, the company generated revenue of $2.10 billion, compared with $1.95 billion for the same period in 2025.

Operating income was $174 million for the first quarter, compared with $151 million for the same period in 2025. Net income was $101 million for the first quarter, compared with $69 million for the same period in 2025. Diluted earnings per share was $0.85 for the first quarter, compared with $0.58 for the same period in 2025.

Adjusted net income, a non-GAAP financial measure, was $121 million for the first quarter, compared with $87 million for the same period in 2025. Adjusted diluted EPS, a non-GAAP financial measure, was $1.01 for the first quarter, compared with $0.73 for the same period in 2025.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, was $319 million for the first quarter, compared with $278 million for the same period in 2025.

The company generated $183 million of cash flow from operating activities in the first quarter and ended the quarter with $237 million of cash and cash equivalents on hand, after completing $104 million of net capital expenditures, $30 million of common stock repurchases, and $30 million of term loan repayments.

Results by Business Segment

North American Less-Than-Truckload (LTL): The segment grew revenue to $1.23 billion for the first quarter 2026, compared with $1.17 billion for the same period in 2025. On a year-over-year basis, yield, excluding fuel, increased 4.0%, shipments per day increased 3.0%, and tonnage per day increased 0.1%. Operating income increased to $189 million for the first quarter, compared with $158 million for the same period in 2025. Adjusted operating income, a non-GAAP financial measure, increased to $198 million for the first quarter, compared with $165 million for the same period in 2025. Adjusted operating ratio, a non-GAAP financial measure, was 83.9%, reflecting a year-over-year improvement of 200 basis points.

Adjusted EBITDA for the first quarter was $290 million, compared with $250 million for the same period in 2025. The increase in adjusted EBITDA was due primarily to yield growth, higher fuel surcharge revenue and productivity improvements, partially offset by wage inflation and higher fuel costs.

European Transportation: The segment grew revenue to $868 million for the first quarter 2026, compared with $782 million for the same period in 2025. Operating income was a loss of $6 million for the first quarter, compared with income of $1 million for the same period in 2025.Adjusted EBITDA was $33 million for the first quarter, compared with $32 million for the same period in 2025.

Corporate: The segment generated an operating loss of $9 million for the first quarter 2026, consistent with the same period in 2025.Adjusted EBITDA was a loss of $4 million for the first quarter 2026, consistent with the same period in 2025.

Conference Call

The company will hold a conference call on Thursday, April 30, 2026, at 8:30 a.m. Eastern Time. Participants can call toll-free (from US/Canada) 1-877-269-7756; international callers dial +1-201-689-7817. A live webcast of the conference will be available on the investor relations area of the company’s website, xpo.com/investors. The conference will be archived until May 30, 2026. To access the replay by phone, call toll-free (from US/Canada) 1-877-660-6853; international callers dial +1-201-612-7415. Use participant passcode 13759585.

About XPO

XPO, Inc. (NYSE: XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 16 billion pounds of freight per year, enabled by its proprietary technology. XPO serves 55,000 customers with 594 locations and 37,000 employees in North America and Europe, and is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on LinkedIn, Facebook, X, Instagram and YouTube.

Non-GAAP Financial Measures

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this press release.

XPO’s non-GAAP financial measures in this press release include: adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) on a consolidated basis and for corporate; adjusted EBITDA margin on a consolidated basis; adjusted net income; adjusted diluted earnings per share (“adjusted diluted EPS”); adjusted operating income for our North American Less-Than-Truckload and European Transportation segments; and adjusted operating ratio for our North American Less-Than-Truckload segment.

We believe that the above adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not be reflective of, or are unrelated to, XPO and its business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should only be used as supplemental measures of our operating performance.

Adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted diluted EPS, adjusted operating income and adjusted operating ratio include adjustments for transaction and integration costs, as well as restructuring costs and other adjustments as set forth in the attached tables. Transaction and integration adjustments are generally incremental costs that result from an actual or planned acquisition, divestiture or spin-off and may include transaction costs, consulting fees, stock-based compensation, retention awards, internal salaries and wages (to the extent the individuals are assigned full-time to integration and transformation activities) and certain costs related to integrating and converging IT systems. Restructuring costs primarily relate to severance costs associated with business optimization initiatives. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating XPO’s and each business segment’s ongoing performance.

We believe that adjusted EBITDA and adjusted EBITDA margin improve comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments as set out in the attached tables that management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses. We believe that adjusted net income and adjusted diluted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs and gains that management has determined are not reflective of our core operating activities, including amortization of acquisition-related intangible assets, transaction and integration costs, restructuring costs and other adjustments as set out in the attached tables. We believe that adjusted operating income and adjusted operating ratio improve the comparability of our operating results from period to period by removing the impact of certain transaction and integration costs and restructuring costs, as well as amortization expense and other adjustments as set out in the attached tables.

Forward-looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC, and the following: the effects of business, economic, political, legal, and regulatory impacts or conflicts upon our operations; supply chain disruptions and shortages, strains on production or extraction of raw materials, cost inflation and labor and equipment shortages; our ability to align our investments in capital assets, including equipment, service centers, and warehouses to our customers’ demands; our ability to implement our cost and revenue initiatives and realize growth and expansion as a result of those initiatives; our ability to improve pricing growth; the effectiveness of our action plan, and other management actions, to improve our North American LTL business; our ability to continue insourcing linehaul in ways that enhance our network efficiency and productivity; the anticipated impact of a freight market recovery on our business; our ability to capture profitable share gains, facilitate yield growth, and improve margins during an upcycle; our ability to benefit from a sale, spin-off or other divestiture of one or more business units or to successfully integrate and realize anticipated synergies, cost savings and profit opportunities from acquired companies; goodwill impairment; issues related to compliance with data protection laws, competition laws, and intellectual property laws; fluctuations in currency exchange rates, fuel prices and fuel surcharges; our ability to develop and implement proprietary technology and suitable information technology systems that contribute to cost and productivity improvements; the impact of potential cyber-attacks and information technology or data security breaches or failures; our ability to repurchase shares on favorable terms; our indebtedness; our ability to raise debt and equity capital; fluctuations in interest rates; seasonal fluctuations; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain management talent and key employees including qualified drivers; labor matters; litigation; and competition.

All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements except to the extent required by law.

Investor Contact
Brian Scasserra
+1 617-607-6429
[email protected]

Media Contact
Cole Horton
+1 203-609-6004
[email protected]

 XPO, Inc.Condensed Consolidated Statements of Income(Unaudited)(In millions, except per share data)         Three Months Ended March 31,  2026   2025  Change %        Revenue$2,096  $1,954  7.3%Salaries, wages and employee benefits 880   832  5.8%Purchased transportation 423   399  6.0%Fuel, operating expenses and supplies 423   393  7.6%Operating taxes and licenses 21   19  10.5%Insurance and claims 34   35  -2.9%Gains on sales of property and equipment (1)  (2) -50.0%Depreciation and amortization expense 131   123  6.5%Legal matters(1) -   (11) -100.0%Transaction and integration costs 2   3  -33.3%Restructuring costs 9   12  -25.0%Operating income 174   151  15.2%Other income (3)  (1) 200.0%Debt extinguishment loss -   5  -100.0%Interest expense 53   56  -5.4%Income before income tax provision 124   91  36.3%Income tax provision 23   22  4.5%Net income$101  $69  46.4%        Earnings per share data       Basic earnings per share$0.87  $0.59   Diluted earnings per share$0.85  $0.58           Weighted-average common shares outstanding       Basic weighted-average common shares outstanding 117   117   Diluted weighted-average common shares outstanding 119   120           Amounts may not add due to rounding.(1)Reflects the settlement of claims against certain truck manufacturers related to purchases by our European Transportation segment covering periods prior to 2015.    XPO, Inc.Condensed Consolidated Balance Sheets(Unaudited)(In millions, except per share data)       March 31, December 31, 2026
 2025
ASSETS     Current assets     Cash and cash equivalents$237  $310 Accounts receivable, net of allowances of $40 and $40, respectively 1,163   1,035 Other current assets 275   285 Total current assets 1,675   1,630 Long-term assets     Property and equipment, net of $2,407 and $2,360 in accumulated depreciation, respectively 3,652   3,664 Operating lease assets 758   777 Goodwill 1,532   1,547 Identifiable intangible assets, net of $590 and $580 in accumulated amortization, respectively 295   311 Other long-term assets 270   265 Total long-term assets 6,508   6,564 Total assets$8,183  $8,194             LIABILITIES AND STOCKHOLDERS’ EQUITY     Current liabilities     Accounts payable$462  $455 Accrued expenses 800   760 Short-term borrowings and current maturities of long-term debt 104   60 Short-term operating lease liabilities 164   166 Other current liabilities 161   113 Total current liabilities 1,691   1,555 Long-term liabilities     Long-term debt 3,172   3,253 Deferred tax liability 494   482 Employee benefit obligations 84   86 Long-term operating lease liabilities 591   611 Other long-term liabilities 300   345 Total long-term liabilities 4,642   4,778       Stockholders’ equity     Common stock, $0.001 par value; 300 shares authorized; 117 shares issued and outstanding as of     March 31, 2026 and December 31, 2025, respectively -   - Additional paid-in capital 1,055   1,160 Retained earnings 989   888 Accumulated other comprehensive loss (194)  (187)Total equity 1,851   1,861 Total liabilities and equity$8,183  $8,194       Amounts may not add due to rounding.       XPO, Inc.Condensed Consolidated Statements of Cash Flows(Unaudited)(In millions)         Three Months Ended  March 31,   2026   2025 Cash flows from operating activities     Net income$101  $69 Adjustments to reconcile net income to net cash from operating activities      Depreciation and amortization 131   123  Stock compensation expense 13   15  Accretion of debt 3   3  Deferred tax expense 9   4  Gains on sales of property and equipment (1)  (2) Other 7   9 Changes in assets and liabilities      Accounts receivable (146)  (107) Other assets 1   1  Accounts payable 16   (7) Accrued expenses and other liabilities 49   35 Net cash provided by operating activities 183   142 Cash flows from investing activities      Payment for purchases of property and equipment (111)  (199) Proceeds from sale of property and equipment 7   7  Payment for settlement of cross-currency swaps (3)  - Net cash used in investing activities (107)  (191)Cash flows from financing activities      Repurchase of debt (30)  -  Repayment of debt and finance leases (20)  (18) Payment for debt issuance costs -   (3) Repurchase of common stock (30)  -  Change in bank overdrafts 20   38  Payment for tax withholdings for restricted shares (88)  (47) Other 1   1 Net cash used in financing activities (147)  (30)Effect of exchange rates on cash, cash equivalents and restricted cash (2)  1 Net decrease in cash, cash equivalents and restricted cash (72)  (78)Cash, cash equivalents and restricted cash, beginning of period 330   298 Cash, cash equivalents and restricted cash, end of period$257  $221        Amounts may not add due to rounding.        North American Less-Than-Truckload SegmentSummary Financial Table(Unaudited)(In millions)         Three Months Ended March 31, 2026
 2025
 Change %        Revenue (excluding fuel surcharge revenue)$1,028  $994  3.4%Fuel surcharge revenue 201   178  12.9%Revenue 1,229   1,172  4.9%Salaries, wages and employee benefits 642   615  4.4%Purchased transportation 30   37  -18.9%Fuel, operating expenses and supplies(1) 236   232  1.7%Operating taxes and licenses 16   16  0.0%Insurance and claims 18   24  -25.0%Losses on sales of property and equipment 1   -  NMDepreciation and amortization 97   90  7.8%Operating income 189   158  19.6%Operating ratio(2) 84.6%  86.5%  Amortization expense 9   9   Gains on real estate transactions -   (2)  Adjusted operating income(3)$198  $165  20.0%Adjusted operating ratio(3) (4) 83.9%  85.9%  Depreciation expense 88   80   Pension income 4   2   Gains on real estate transactions -   2   Adjusted EBITDA(5)$290  $250  16.0%Adjusted EBITDA margin(5) 23.6%  21.3%          Amounts may not add due to rounding.NM - Not meaningful.(1)Fuel, operating expenses and supplies includes fuel-related taxes.(2)Operating ratio is calculated as (1 - (Operating income divided by Revenue)) using the underlying unrounded amounts.(3)See the “Non-GAAP Financial Measures” section of the press release.(4)Adjusted operating ratio is calculated as (1 - (Adjusted operating income divided by Revenue)) using the underlying unrounded amounts; adjusted operating margin is the inverse of adjusted operating ratio.(5)Adjusted EBITDA is used by our chief operating decision maker to evaluate segment profit (loss) in accordance with ASC 280. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts.         North American Less-Than-TruckloadSummary Data Table(Unaudited)         Three Months Ended March 31, 2026 2025 Change %        Pounds per day (thousands) 65,510  65,427 0.1%        Shipments per day 49,834  48,400 3.0%        Average weight per shipment (in pounds) 1,315  1,352 -2.8%        Revenue per shipment (including fuel surcharges)$394.14 $384.27 2.6%        Revenue per shipment (excluding fuel surcharges)$329.77 $325.74 1.2%        Gross revenue per hundredweight (including fuel surcharges)(1)$30.61 $29.06 5.3%        Revenue per hundredweight (excluding fuel surcharges)(1)$25.71 $24.73 4.0%        Average length of haul (in miles) 852.6  845.6          Total average load factor(2) 22,294  22,434 -0.6%        Average age of tractor fleet (years) 3.9  4.0          Number of working days 62.5  63.0                  (1)Gross revenue per hundredweight excludes the adjustment required for financial statement purposes in accordance with the company's revenue recognition policy.(2)Total average load factor equals freight pound miles divided by total linehaul miles.Note: Table excludes the company's trailer manufacturing operations. Percentages presented are calculated using the underlying unrounded amounts.         European Transportation SegmentSummary Financial Table(Unaudited)(In millions)         Three Months Ended March 31, 2026
 2025
 Change %        Revenue$868  $782  11.0%Salaries, wages and employee benefits 235   212  10.8%Purchased transportation 394   363  8.5%Fuel, operating expenses and supplies (1) 187   162  15.4%Operating taxes and licenses 5   3  66.7%Insurance and claims 16   10  60.0%Gains on sales of property and equipment (2)  (1) 100.0%Depreciation and amortization 33   32  3.1%Legal matters (2) -   (11) -100.0%Restructuring costs 6   11  -45.5%Operating income (loss)$(6) $1  NMAmortization expense 6   5   Legal matters (2) -   (11)  Restructuring costs 6   11   Adjusted operating income (3)$6  $6  0.0%Depreciation expense 27   27   Adjusted EBITDA (4)$33  $32  3.1%Adjusted EBITDA margin (4) 3.8%  4.1%          Amounts may not add due to rounding.NM - Not meaningful.(1) Fuel, operating expenses and supplies includes fuel-related taxes.(2) Reflects the settlement of claims against certain truck manufacturers related to purchases by our European Transportation segment covering periods prior to 2015.(3) See the “Non-GAAP Financial Measures” section of the press release.(4) Adjusted EBITDA is used by our chief operating decision maker to evaluate segment profit (loss) in accordance with ASC 280. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts.         CorporateSummary Financial Table(Unaudited)(In millions)         Three Months Ended March 31, 2026
 2025
 Change %        Revenue$-  $-  0.0%Salaries, wages and employee benefits 4   4  0.0%Depreciation and amortization 1   1  0.0%Transaction and integration costs 1   3  -66.7%Restructuring costs 3   1  200.0%Operating loss$(9) $(9) 0.0%Depreciation and amortization 1   1   Transaction and integration costs 1   3   Restructuring costs 3   1   Adjusted EBITDA (1)$(4) $(4) 0.0%        Amounts may not add due to rounding.(1) See the “Non-GAAP Financial Measures” section of the press release.         XPO, Inc.Reconciliation of Non-GAAP Measures(Unaudited)(In millions)         Three Months Ended March 31, 2026
 2025
 Change %        Reconciliation of Net Income to Adjusted EBITDA       Net income$101  $69  46.4%Debt extinguishment loss -   5   Interest expense 53   56   Income tax provision 23   22   Depreciation and amortization expense 131   123   Legal matters (1) -   (11)  Transaction and integration costs 2   3   Restructuring costs 9   12   Adjusted EBITDA (2)$319  $278  14.7%Revenue$2,096  $1,954  7.3%Adjusted EBITDA margin (2) (3) 15.2%  14.2%          Amounts may not add due to rounding.(1) Reflects the settlement of claims against certain truck manufacturers related to purchases by our European Transportation segment covering periods prior to 2015.(2) See the “Non-GAAP Financial Measures” section of the press release.(3) Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts.         XPO, Inc.Reconciliation of Non-GAAP Measures (cont.)(Unaudited)(In millions, except per share data)         Three Months Ended  March 31,  2026 2025       Reconciliation of Net Income and Diluted Earnings Per Share to Adjusted Net Income and Adjusted Earnings Per Share     Net income$101  $69  Debt extinguishment loss -   5  Amortization of acquisition-related intangible assets 15   14  Legal matters (1) -   (11) Transaction and integration costs 2   3  Restructuring costs 9   12  Income tax associated with the adjustments above (2) (3)  (5) European legal entity reorganization (3) (3)  1        Adjusted net income (4)$121  $87        Adjusted diluted earnings per share (4)$1.01  $0.73        Weighted-average common shares outstanding      Diluted weighted-average common shares outstanding 119   120        Amounts may not add due to rounding.       (1) Reflects the settlement of claims against certain truck manufacturers related to purchases by our European Transportation segment covering periods prior to 2015.       (2) This line item reflects the aggregate tax benefit of all non-tax related adjustments reflected in the table above. The detail by line item is as follows: Debt extinguishment loss$-  $1  Amortization of acquisition-related intangible assets 2   2  Transaction and integration costs -   1  Restructuring costs -   1   $3  $5        Amounts may not add due to rounding.The income tax rate applied to reconciling items is based on the GAAP annual effective tax rate, excluding discrete items, non-deductible compensation, losses for which no tax benefit can be recognized, and contribution- and margin-based taxes.       (3) Reflects an adjustment recognized during the first quarters of 2026 and 2025 to the tax benefit recognized in the second quarter of 2024 related to a legal entity reorganization within our European Transportation business.(4) See the "Non-GAAP Financial Measures" section of the press release.       

For the quarter ended March 2026, XPO (XPO - Free Report) reported revenue of $2.1 billion, up 7.3% over the same period last year. EPS came in at $1.01, compared to $0.73 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.06 billion, representing a surprise of +1.75%. The company delivered an EPS surprise of +13.97%, with the consensus EPS estimate being $0.89.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how XPO performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Adjusted operating ratio: 83.9% versus 84.3% estimated by three analysts on average.Number of working days: 63 versus 63 estimated by three analysts on average.Shipments per day: 49,834 versus the three-analyst average estimate of 49,223.Gross revenue per hundredweight (excluding fuel surcharges): $25.71 versus $25.86 estimated by three analysts on average.Gross revenue per hundredweight (including fuel surcharges): $30.61 versus $30.11 estimated by three analysts on average.Average weight per shipment: 1,315.00 lbs compared to the 1,327.21 lbs average estimate based on three analysts.Net revenue per shipment: $394.14 versus the two-analyst average estimate of $399.45.Pounds per day: 65.51 Mlbs compared to the 65.29 Mlbs average estimate based on two analysts.Revenue- European Transportation Segment: $868 million compared to the $832.08 million average estimate based on four analysts. The reported number represents a change of +11% year over year.Revenue- North American Less-Than-Truckload Segment: $1.23 billion compared to the $1.22 billion average estimate based on four analysts. The reported number represents a change of +4.9% year over year.Adjusted EBITDA- Corporate: $-4 million versus $-4.2 million estimated by five analysts on average.Adjusted EBITDA- European Transportation Segment: $33 million compared to the $32.26 million average estimate based on five analysts.View all Key Company Metrics for XPO here>>>

Shares of XPO have returned +9.2% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

XPO (XPO 0.48%), the less-than-truckload (LTL) trucking company, hasn't gotten a lot of attention from investors, but the stock has quietly doubled over the last year, outperforming industry peers like Old Dominion Freight Line and Saia.

XPO data by YCharts

As an industry, these LTL stocks have a history of outperforming the market as the sector has outgrown other types of transportation and benefited from industry dynamics that allow for strong pricing power and high operating leverage. Additionally, the bankruptcy of Yellow in 2023 allowed these operators to gain market share and the ability to grow by acquiring Yellow's assets. It also raised prices by eliminating excess capacity. Over the last year, investors have turned bullish on the sector as the industrial economy seems to be returning to growth, as the Institute for Supply Management (ISM) manufacturing survey shows, which has indicated an expansion every month this year after a long streak of contractions. Operators like XPO tend to see the survey as an indicator of industrial demand.

However, XPO stock has jumped not just because of industrywide tailwinds, but because of its own business improvements and execution, including lowering its damage claims ratio, increasing productivity, and driving wider operating margins.

Those trends were on display in its first-quarter earnings report.

Image source: XPO.

XPO delivers again XPO beat estimates on the top and bottom lines as it returned to growth in tonnage and shipments. Revenue in the quarter rose 7.3% to $2.1 billion, ahead of the consensus at $2.04 billion. The core North America segment reported 5% growth to $1.23 billion as yield, or pricing, rose 4%, while shipments were up 3% on a 0.1% increase in tonnage.

XPO's operating ratio, the inverse of operating margin, improved by 200 basis points to 83.9%, driven by a reduction in its damage claims ratio to 0.2%, or a record low. Meanwhile, it's invested in AI to deliver improvements in areas like route optimization and training, improving operations, and cutting costs.

On the bottom line, adjusted earnings per share jumped from $0.73 to $1.01, ahead of the consensus at $0.88. As a trucking company, XPO doesn't give guidance, but the tailwinds supporting the business operationally and on a macro-level seem like reasons to be optimistic.

Today's Change

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Current Price

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What's next for XPO XPO's stock has soared in the past because forward expectations have significantly improved for the stock due to both the company's execution and improving macroeconomics.

In an interview with The Motley Fool, Chief Strategy Officer Ali Faghri explained that the company was expecting to allocate more capital to share buybacks and paying down debt.

The company is targeting spending 8%-12% of its revenue on capex through 2027, and aiming for free cash flow to double from last year, when it was $329 million.

Faghri added, "We're going to have a lot of excess cash above and beyond the investments in the business," allowing us to spend on buybacks and debt pay-down. The company finished the quarter with $3.2 billion, in part from a history of acquisitions, and $237 million in cash.

Faghri also said that the company expects to generate billions of dollars over the next few years and would leverage its previous investment, as its capex is actually expected to go down. That, combined with the improving tailwinds in the industrial economy, could lead to surging profits over the next few years.

XPO is on track to hit the 2027 goals it set out in 2021, including a compound annual growth rate (CAGR) of 6%-8% in revenue and a 600 basis point improvement in adjusted operating ratio. Going forward, Faghri expects adjusted operating ratio to fall below 80%, signaling continued margin improvement at XPO.

While high expectations may now be baked into the stock, XPO could be an inflection point with profits. The stock still looks like a buy.

GREENWICH, Conn., May 06, 2026 (GLOBE NEWSWIRE) --

XPO (NYSE: XPO), a leading provider of freight transportation in North America, today announced that it has been named a 2026 VETS Indexes 4 Star Employer for the fourth year in a row. This recognition highlights XPO’s ongoing dedication to recruiting veteran and military talent and creating a workplace where they can build meaningful, long-term civilian careers.

Nicholas Antaki, president of VETS Indexes, said, “XPO has demonstrated meaningful and measurable support for veterans and the military-connected community through its commitment to building opportunities for those who served. Employers like XPO continue to set the standard and help drive the future of veteran employment forward.”

Tony Graham, president of the West Division at XPO and a US Army and National Guard veteran, added, “Recruiting and supporting veteran and military talent is a core part of our strategy as we develop the next generation of leaders in freight transportation. That starts with providing a welcoming and rewarding environment for military-connected individuals as they transition to civilian careers. We are proud to honor the contributions of those who have served and grateful for the impact they make at XPO.”

This year, hundreds of organizations were evaluated for the VETS Indexes Employer Awards. Honorees were selected based on their exceptional support for veterans, members of the National Guard and Reserves, and military spouses.

To explore career opportunities at XPO, visit our military recruitment site at

xpo.jobs/military.

About XPO  
XPO, Inc. (NYSE: XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 16 billion pounds of freight per year, enabled by its proprietary technology. XPO serves 55,000 customers with 594 locations and 37,000 employees in North America and Europe, and is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on

LinkedIn,

Facebook,

X,

Instagram and

YouTube.

Media Contact
Cole Horton
+1 203-609-6004

[email protected]

On May 20, 2026, XPO Inc XPO shares rose 4.2%, bringing the current price to $210.73. The stock has experienced a 52-week range between $110.78 and $231.46, reflecting significant volatility over the past year.

GF Value™ verdict: XPO's current price is $210.73, which is 66.4% above the GF Value™ of $126.62, indicating the stock is overvalued.GF Score™: XPO has a GF Score™ of 76/100, which categorizes it as above average in terms of overall financial health and performance.Most notable signal: The momentum rank is 9/10, suggesting strong recent price performance. Is XPO Overvalued or Undervalued? The current market price of XPO Inc is $210.73, which stands significantly above the GF Value™ of $126.62. This represents a 66.4% overvaluation, indicating a lack of margin of safety for potential investors. The GF Valuation label classifies XPO as significantly overvalued, which raises the risk for investors considering entry points at these levels. If the stock price does not adjust to reflect its intrinsic value, investors may face potential losses as the market corrects.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. The substantial difference between the market price and the GF Value™ signals caution for those looking at XPO shares for investment.

How Does XPO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 72.2x 37.4x Forward P/E 43.3x N/A XPO's current P/E ratio of 72.2x is 93% above its 5-year median P/E of 37.4x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict, further reinforcing the notion that XPO is currently overvalued based on historical metrics.

What Does XPO's GF Score™ Tell Us? Metric Rating GF Score™ 76 Financial Strength 5/10 Profitability 7/10 Growth 6/10 Valuation 3/10 Momentum 9/10 The GF Score™ of 76/100 indicates that XPO is above average in its overall performance metrics. The strongest area is its momentum rank of 9/10, reflecting robust price performance over recent periods. However, the valuation rank of 3/10 highlights significant concerns regarding its current price relative to its intrinsic value, suggesting that while XPO may exhibit growth and profitability, its overvaluation poses considerable risks.

What Are Insiders Doing with XPO Stock? There have been no insider transactions involving XPO stock in the last three months. This lack of insider activity may suggest a neutral stance from executives regarding the stock's current valuation and future prospects, indicating that insiders do not see immediate opportunities for profit from buying or selling shares at this time.

What This Means for Investors Based on the GF Value™ assessment, XPO Inc is currently overvalued. The significant disparity between the stock's market price and its intrinsic value signals caution for potential investors, as the stock may not offer a favorable risk-reward profile at this time.

For the complete analysis, visit the XPO Inc XPO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is XPO's GF Score™?

XPO's GF Score™ is 76/100, indicating that the stock is above average in terms of financial health and performance metrics based on GuruFocus' proprietary rankings.

Is XPO overvalued or undervalued?

XPO is overvalued, with a current price of $210.73 compared to a GF Value™ of $126.62, suggesting a significant margin above intrinsic value.

What is XPO's P/E ratio?

XPO's P/E ratio is 72.2x, which is substantially higher than its 5-year median P/E of 37.4x, indicating the stock is trading at a significant premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

GREENWICH, Conn., June 04, 2026 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO), a leading provider of freight transportation in North America, today unveiled a new fleet of trailers honoring America’s upcoming 250th anniversary.

Built at XPO’s manufacturing facility in Searcy, Arkansas, the trailers feature patriotic branding inspired by the American flag. XPO drivers, including military veterans and those with more than one million consecutive safe-driving miles, will transport the trailers across the country while moving freight for the company’s customers.

Mario Harik, chairman and chief executive officer of XPO, said, “The trucking industry is the backbone of the American economy. As we approach the nation’s 250th anniversary, we’re proud to recognize the drivers and freight transportation professionals who help deliver the goods we all depend on every day. These trailers are a tribute to their hard work and dedication to keeping America moving.”

XPO debuted the trailer fleet during an event at its Searcy manufacturing facility today. The company is one of the largest trailer manufacturers in the United States and the only freight transportation provider in the country that builds its own trailers. XPO has produced more than 100,000 trailers at the facility since it opened in 1994.

According to the American Trucking Associations, trucks move more than 70% of the nation’s freight by weight each year. XPO is among the largest less-than-truckload (LTL) carriers in the country, moving 16 billion pounds of freight annually.

About XPO 
XPO, Inc. (NYSE: XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 16 billion pounds of freight per year, enabled by its proprietary technology. XPO serves 55,000 customers with 594 locations and 37,000 employees in North America and Europe, and is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on LinkedIn, Facebook, X, Instagram and YouTube.

Media Contact
Cole Horton
+1-203-609-6004
[email protected]

DaVita Inc. DVA: This kidney dialysis company has a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.4% over the last 60 days.

DaVita Inc. has a PEG ratio of 0.63 compared with 2.08 for the industry. The company possesses a Growth Score of A.

XPO, Inc. XPO: This freight transportation company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8% over the last 60 days.

XPO has a PEG ratio of 2.55 compared with 2.58 for the industry. The company possesses a Growth Score of B.

Pitney Bowes Inc. PBI: This shipping and mailing services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 11% over the last 60 days.

Pitney Bowes has a PEG ratio of 0.76 compared with 0.88 for the industry. The company possesses a Growth Score of A.

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.

MIAMI, April 07, 2026 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in Non-Lethal Response (“NLR”) and public safety technology, today announced that the Galveston Police Department in Texas has adopted Wrap’s NLR solutions through the purchase of BolaWrap 150® devices and WrapTactics™ subscriptions, supported by in-person training. Wrap also expects additional expansion purchases to support broader deployment of NLR capabilities across various units within the department.

Galveston Police Department serves a coastal community with an emphasis on personal security, community engagement, and officer accessibility. The department highlights community relations as a core part of its policing approach and maintains an operational structure that includes patrol, and special operations functions that are compatible with scalable, repeatable non-lethal tools and training.

Advancing Non-Lethal Response in a Dynamic Operational Environment

Wrap believes Galveston Police Department’s adoption reflects a practical step toward equipping officers with more options in encounters where agencies need to create time, distance, and control before situations escalate. By integrating BolaWrap devices with structured digital and in-person training, the department aims to build the foundation for a more standardized NLR capability across its organization.

This initial deployment was supported in part by the Mary Moody Northern Endowment, a Galveston-based charitable foundation that supports projects benefiting institutions in Texas and Virginia, with a historic priority on needs in the immediate Galveston area. Wrap believes that support reflects a shared commitment to equipping local institutions with resources that strengthen training, preparedness, and community well-being.

Training-Led Adoption

As part of this implementation, Galveston Police Department has adopted WrapTactics, Wrap’s Learning Management System designed to reinforce tactical decision-making, ongoing proficiency, and consistent documentation, alongside in-person training intended to support operational readiness. This integrated approach aligns with Wrap’s broader NLR model, where tools and training work together with the aim to improve field confidence, support policy alignment, and promote safer outcomes.

Galveston’s public training program emphasizes a professional training environment, formal registration, agency participation, and structured course administration through its Training Division. Wrap believes that commitment to training discipline makes GPD a strong fit for a layered NLR strategy that combines field tools with ongoing education and reinforcement.

Pathway to Broader Department Expansion

Additional expansion purchases are currently in discussions as Galveston Police Department evaluates the extension of NLR capabilities to additional units within the department, supported by Mary Moody Northern Endowment. Wrap believes this phased approach suggests a broader trend among agencies moving from initial product adoption toward more integrated NLR programs built around tools, training, and implementation support.

Galveston Police Department also emphasizes transparency and professional standards, including a public-facing policy review forum and the Office of Professional Standards. Wrap believes those elements are important enablers for long-term NLR adoption as agencies work to align deployment, training, and policy into a cohesive operational framework.

“Our goal is to give our officers more tools and training to respond effectively in situations where time, distance, and control matter most,” said Captain Sims of Galveston Police Department. “This initial deployment helps strengthen our non-lethal response capabilities with BolaWrap devices, WrapTactics subscriptions, and in-person training, and we appreciate the support of the Mary Moody Northern Endowment in helping make that investment possible. As we continue evaluating broader expansion across the department, we remain focused on equipping our officers with practical tools and training that support safer outcomes for everyone involved.”

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap's complete public safety portfolio includes the non-lethal BolaWrap® 150 device, WrapReality™ immersive training platform, WrapVision™ body-worn camera system, WrapTactics™ training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which supports the Company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. Wrap's BolaWrap® 150 solution leads in pre-escalation intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the pre-escalation period and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is not pain-based compliance. It does not shoot, strike, shock, or incapacitate, instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap's commitment to public safety through cutting-edge technology and expert training.

WrapReality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality™ is intended to equip officers with the skills and confidence to navigate high-stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video picture quality and field of view.

The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

Wrap, the Wrap logo, BolaWrap®, WrapReality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "anticipate," "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control and include, but are not limited to, statements relating to the expected benefits and performance of the contract with Galveston Police Department, Wrap's planned future products, technologies, integration, intended product designs and expected benefits therefrom, expected market opportunities and outcomes related to Wrap's products to increase officer and public safety. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to maintain compliance with the Nasdaq Capital Market's listing standards; the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce products for its customers; the Company's ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652

[email protected]

MIAMI, April 13, 2026 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in Non-Lethal Response (“NLR”) and public safety technology, today announced a strategic research and development initiative focused on net-based drone capture technologies, expanding the Company’s NLR platform into aerial interdiction for public safety, law enforcement, critical infrastructure, and defense-adjacent applications.

The initiative builds on Wrap’s Kevlar-based cassette technology, originally developed for the BolaWrap® platform, and extends that architecture into new aerial payload configurations designed to support the safe interdiction of unmanned aerial system (“UAS”) threats in complex environments. Wrap’s development efforts are focused on both drone-to-drone interception and air-to-ground non-lethal deployment concepts, expected to create a scalable capability intended for use in populated and infrastructure-sensitive settings where traditional counter-UAS approaches may present elevated operational and collateral risk.

Wrap believes this initiative reflects a natural extension of its broader NLR strategy: applying non-lethal control concepts to emerging operational environments where agencies need safer, more precise, and more accountable intervention options. As human-machine interaction becomes a more significant part of public safety and security operations, the Company believes those interactions should begin with Non-Lethal Response.

Expanding the Kevlar-Based Cassette Platform

Wrap’s current research efforts include:

Net-based payloads designed for aerial capture and entanglement of target dronesAdaptation of Kevlar cord systems for broader capture geometries and dynamic engagement scenariosMulti-payload drone configurations intended to enable multiple capture opportunities within a single sortieScalable cassette designs to support different mission profiles across law enforcement, corrections, critical infrastructure, and other security-sensitive environments The Company believes this modular approach can extend a proven law enforcement platform into new domains without introducing unnecessary complexity, while supporting faster iteration across multiple deployment formats and operational use cases.

Designed for Public Safety Environments

Wrap’s aerial capture strategy is being developed with a focus on safer use in domestic and international public safety settings. The Company believes this approach may offer several potential advantages, including:

physical capture rather than destructive defeatavoidance of RF interference in communications-sensitive civilian environmentsreduced uncontrolled debris over populated areassupport for lawful intervention pathways aligned with agency policy, operational doctrine, and use-of-force frameworks These attributes may become increasingly important as agencies evaluate alternatives to traditional counter-UAS methods that may be less suitable for urban, crowded, or infrastructure-sensitive environments.

Wrap’s development roadmap also includes concepts intended to support multi-drone interdiction from a single platform. The Company believes the ability to deploy multiple net payloads in sequence or rapid succession could improve mission flexibility, create redundant capture opportunities, and better support operational readiness in environments involving repeated or coordinated drone incursions.

The Company is seeing growing interest in its expanding public safety platform as agencies, partners, and end users evaluate new ways to address drone-related threats across law enforcement, first response, public venues, energy and critical infrastructure, and government-related environments. Wrap believes its broader NLR approach of combining tools, training, and policy-aligned implementation positions the Company to play a meaningful role in the next generation of non-lethal public safety technologies.

Wrap’s expansion into aerial interdiction represents another step in its mission to define and deliver Non-Lethal Response as a system, not a standalone tool. The Company believes public safety requires more than a device-only solution, particularly as drone-enabled operations and autonomous systems continue to expand. Wrap’s R&D roadmap is intended to support that future by extending safer, lawful, and more scalable intervention options both on the ground and in the air.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap's complete public safety portfolio includes the non-lethal BolaWrap® 150 device, WrapReality™ immersive training platform, WrapVision™ body-worn camera system, WrapTactics™ training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which supports the Company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. Wrap's BolaWrap® 150 solution leads in pre-escalation intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the pre-escalation period and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is not pain-based compliance. It does not shoot, strike, shock, or incapacitate, instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap's commitment to public safety through cutting-edge technology and expert training.

WrapReality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality™ is intended to equip officers with the skills and confidence to navigate high-stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video picture quality and field of view.

The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

Wrap, the Wrap logo, BolaWrap®, WrapReality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "anticipate," "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control and include, but are not limited to, statements relating to Wrap's planned future products, expansions, initiatives, technologies, integration, intended product designs and expected benefits therefrom, expected market opportunities and outcomes related to Wrap's products to increase officer and public safety. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to maintain compliance with the Nasdaq Capital Market's listing standards; the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce products for its customers; the Company's ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652

[email protected]

wrap.com

Industry Veteran Brings 25+ Years of Executive Leadership Across Public Safety, Technology, and Operations April 15, 2026 08:00 ET  | Source: Byrna Technologies, Inc.

ANDOVER, Mass., April 15, 2026 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the promotion of Matthew Campagni to Chief Strategy Officer. In this role, Campagni will lead the Company’s strategic planning initiatives and support cross-functional execution as Byrna continues to scale and position the Company for its next phase of growth.

Campagni brings more than 25 years of executive leadership experience across strategy, operations, finance, and program management in public safety, technology, investment, and manufacturing organizations. Since joining Byrna in 2024 as Vice President of Corporate Development, he has worked closely with the leadership team on key initiatives across the business, playing a pivotal role in the Company’s continued progress and evolution.

“Matt is exactly the kind of seasoned, strategic leader we need as Byrna continues to scale,” said Byrna CEO Conn Davis. “He brings an impressive track record of driving operational transformation and strategic execution growth in the public safety and technology sectors. As we continue to scale the business, expand our reach and sharpen execution across the organization, Matt will be an important part of that effort.”

Prior to joining Byrna, Campagni served as Senior Vice President of Operations at WRAP Technologies, Inc. (Nasdaq: WRAP), where he strengthened supply chain and manufacturing operations, led key product acquisitions and integrations, and directed the company’s strategic transition toward recurring-revenue Hardware-as-a-Service and Software-as-a-Service business models. Earlier in his career, he served as Chief Financial Officer and Vice President of Operations for a family office and spent more than two decades at Information Methods Incorporated, a technology consulting and system integration firm focused on public safety, where he ultimately served as both Chief Financial Officer and Chief Operating Officer.

“Over the past two years, I have seen firsthand what makes Byrna such a compelling company, and I am honored to take on a larger role to help drive execution and a more strategic approach as we build for more consistent, long-term growth,” said Campagni. “We have a strong foundation, and I look forward to working with the team to help translate our differentiated less-lethal platform into value for our customers and shareholders.”

Campagni holds a B.S. in Finance from Tennessee Tech and an M.S. in Project Management from The George Washington University. He is also a certified Project Management Professional (PMP), Risk Management Professional (RMP), and Six Sigma Black Belt.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," "intends," "anticipates," and "believes" and statements that certain actions, events, or results "may," "could," "would," "should," "might," "occur," or "be achieved," or "will be taken." Forward-looking statements in this news release include, but are not limited to, statements regarding Mr. Campagni's anticipated role, responsibilities, and contributions as Chief Strategy Officer, the Company's ability to execute on its strategic planning initiatives, the Company's expectations regarding its next phase of growth, and the Company's ability to scale operations and deliver long-term value to its customers and shareholders. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied. Any number of risk factors could cause our actual results to differ materially from those expressed or implied by the forward-looking statements in this news release. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A ("Risk Factors") in the Company's most recent Form 10-K and Part II, Item 1A ("Risk Factors") in the Company's most recent Form 10-Q, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing or the risks identified in the Company's SEC filings to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

About Byrna Technologies Inc.
Byrna is a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® CL, Byrna® LE and Byrna® SD personal security devices, state-of-the-art handheld CO2 powered launchers designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

Investor Contact:
Tom Colton and Alec Wilson
Gateway Group, Inc.
949-574-3860
[email protected]

MIAMI, April 22, 2026 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in Non-Lethal Response (“NLR”) and public safety technology, today announced the renewal of a five-year contract with the Las Vegas Metropolitan Police Department (“LVMPD”) Academy for continued deployment and lifecycle support of the WrapReality™ virtual reality training platform.

Under the renewed agreement, LVMPD is expected to receive hardware and software assurance services designed to sustain the performance and availability of its WrapReality systems deployed. This renewal is expected to represent a strategic recommitment by one of the nation’s respected law enforcement training institutions to immersive scenario-based training designed to reinforce decision-making, de-escalation, and tactical judgment through repeatable, measurable virtual reality experiences.

Strategic Renewal Following Onsite Collaboration

The extension follows an on-site engagement in January 2026, where Wrap leadership met with LVMPD Academy leadership and training staff to evaluate system performance, discuss curriculum integration, and align future training priorities. Based on the outcomes of that visit and LVMPD’s assessment of the platform’s operational value, Wrap and LVMPD finalized the renewal.

LVMPD Academy is widely recognized for its rigorous training standards and its leadership role in preparing recruits and officers for complex, real-world public safety challenges. The renewed WrapReality agreement is expected to support LVMPD’s ongoing mission to elevate proficiency across critical competencies, including scenario de-escalation techniques and the application of NLR solutions within broader use-of-force and critical incident training frameworks.

“The Las Vegas Metropolitan Police Department has integrated Wrap’s immersive virtual reality training into our development programs to help enhance decision making, situational awareness, and de-escalation skills in a controlled, repeatable environment,” said Lieutenant Joshua Stark of the Organizational Development Bureau at LVMPD. “This system allows officers to experience realistic scenarios that mirror real-world encounters, intended to help build confidence and competence before facing similar situations in the field.”

“Our decision to extend this partnership is rooted in the value WrapReality provides. It is designed to enable consistent, high-quality instruction across a wide range of scenarios and supports best practices in communication, critical thinking, and proper response. Officers are learning from immediate feedback and refining their approach in ways traditional training methods alone cannot replicate.”

“Ultimately, immersive virtual reality training supports the agency’s mission to improve officer readiness while prioritizing the safety of our officers and the community we serve. By continuing this partnership with Wrap, we intend to strengthen our commitment to improve how we prepare our officers for the challenges of modern policing in Las Vegas.”

The Role of WrapReality in Modern Training

WrapReality™ is designed to provide law enforcement agencies with a scalable, immersive training ecosystem meant to enhance cognitive decision-making in high-stakes encounters. The platform is expected to deliver interactive, branching scenarios that allow trainees to experience and respond to realistic situations in controlled, repeatable environments. These experiences are engineered to support improved judgment on communication, threat assessment, escalation management, and the application of appropriate NLR measures as part of an agency’s overall use-of-force continuum.

The renewed agreement is intended to ensure LVMPD will continue to have access to Wrap’s expanding scenario library, ongoing software updates, and comprehensive technical support. It also supports the integration of evolving training methodologies that reflect modern public safety priorities, including the reduction of risk through enhanced scenario fidelity and expanded decision pathways.

As part of the partnership’s next phase, Wrap plans to conduct on-site training at the LVMPD Academy in Q2 2026. This session is expected to deliver advanced instruction to a broader range of LVMPD staff, centered around system operation, scenario facilitation, and the latest enhancements to the WrapReality scenario set. This training is intended to further embed WrapReality into LVMPD’s instructional design and ensure trainers and administrators are equipped to maximize learner outcomes and sustain continuous improvement.

Commitment to Safer Outcomes and Innovation

The longstanding relationship with LVMPD supports Wrap’s growing footprint within leading public safety organizations that prioritize immersive training and advanced NLR readiness. As agencies nationwide seek to modernize training ecosystems and enhance operational proficiency, immersive platforms such as WrapReality are positioned as essential components of contemporary academy and field training for officers.

Wrap remains committed to delivering market-leading technology, scenario content, and customer success frameworks that are intended to help agencies improve performance, strengthen community trust, and elevate overall readiness in high-stress, real-world situations.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap's complete public safety portfolio includes the non-lethal BolaWrap® 150 device, WrapReality™ immersive training platform, WrapVision™ body-worn camera system, WrapTactics™ training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which supports the Company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. Wrap's BolaWrap® 150 solution leads in pre-escalation intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the pre-escalation period and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is not pain-based compliance. It does not shoot, strike, shock, or incapacitate, instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap's commitment to public safety through cutting-edge technology and expert training.

WrapReality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality™ is intended to equip officers with the skills and confidence to navigate high-stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video picture quality and field of view.

The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

Wrap, the Wrap logo, BolaWrap®, Non-Lethal Response™, WrapReality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "anticipate," "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control and include, but are not limited to, statements relating to the expected benefits and performance of the agreement with Las Vegas Metro Police Department, Wrap's planned future products, technologies, integration, intended product designs and expected benefits therefrom, expected market opportunities and outcomes related to Wrap's products to increase officer and public safety. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to maintain compliance with the Nasdaq Capital Market's listing standards; the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce products for its customers; the Company's ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652

[email protected]

wrap.com

MIAMI, May 01, 2026 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), global leader Non-Lethal Response and public safety technology, today announced that the Carolina Beach Police Department (the “Department”) in North Carolina has issued a purchase order for BolaWrap® devices as part of the Department’s investment in modern, non-lethal response capabilities.

The purchase, supported by multiple grant allocations from The Carolina Beach Police Foundation, reflects Carolina Beach Police Department’s commitment to equipping officers with additional tools designed to help manage encounters earlier in the response cycle, before situations escalate to higher levels of force. Located in North Carolina, the Carolina Beach Police Department serves a coastal community with a mix of permanent residents, and frequent, out-of-town visitors. The Department is comprised of 30+ full-time officers and emphasizes community protection, victim support, and trust-building through ongoing officer training and professional service.

As public safety agencies across the country continue to evaluate new approaches to crisis response and use-of-force readiness, Carolina Beach Police Department’s adoption of BolaWrap suggests growing demand for non-lethal tools that can be integrated into agency training, policy, and field operations. BolaWrap is designed to support officers during critical incidents by creating time, distance, and tactical advantages while helping reduce the risk of injury to officers, subjects, and the community.

“Carolina Beach is committed to giving our officers the tools and training they need to serve our community safely and professionally,” said Vic Ward, Chief of Police at Carolina Beach Police Department. “BolaWrap can provide our officers a non-lethal option when verbal de-escalation is not enough, but higher levels of force may not be appropriate. This investment supports our broader strategy to resolve encounters with greater control, less risk, and better outcomes for everyone involved.”

Wrap’s Non-Lethal Response ecosystem is built around the integration of tools, training, and policy to help public safety agencies standardize safer response models. BolaWrap is a core component of that ecosystem and is intended to support law enforcement officers in encounters involving non-compliant individuals, behavioral health crises, substance-related incidents, and other unpredictable field conditions where early intervention may help preserve safety.

The Carolina Beach Police Department’s initial purchase order further expands the presence of BolaWrap and Non-Lethal Response solutions across North Carolina and reflects interest in market adoption of non-lethal technology by agencies seeking practical, field-ready solutions for modern policing in differentiated environments.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

WRAP’s complete public safety portfolio includes the non-lethal BolaWrap® 150 device, WrapReality™ immersive training platform, WrapVision™ body-worn camera system, WrapTactics™ training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which supports the Company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. Wrap's BolaWrap® 150 solution is intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the pre-escalation period and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is not pain-based compliance. It does not shoot, strike, shock, or incapacitate, instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap's commitment to public safety through cutting-edge technology and expert training.

WrapReality™ VR is a fully immersive training simulator to enhance decision-making under stress.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality™ is intended to equip officers with the skills and confidence to navigate high stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video picture quality and field of view.

The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

WRAP, the Wrap logo, BolaWrap®, Non-Lethal Response™, WrapReality™, Wrap Training Academy, and Non-Lethal Response™ are trademarks of WRAP Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "anticipate," "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control and include, but are not limited to, statements relating to the expected benefits and performance of the agreement with Carolina Beach Police Department, the Company's planned future products, technologies, integration, intended product designs and expected benefits therefrom, expected market opportunities and outcomes related to Wrap's products to increase officer and public safety. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to maintain compliance with the Nasdaq Capital Market's listing standards; the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce products for its customers; the Company's ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652

[email protected]

wrap.com

Issued on behalf of VisionWave Holdings, Inc.

Equity-Insider.com News Commentary 

, /PRNewswire/ -- The Pentagon just dropped its largest counter-drone budget in U.S. history, requesting more than $70 billion for drone platforms and counter-UAS systems in its fiscal 2027 spending plan[1]. On the domestic side, the Department of Homeland Security is building out a network of 890 AI-powered autonomous surveillance towers along the southern border, layering detection, tracking, and interdiction into a single operational grid[2]. That structural shift in federal procurement is opening the door for companies positioned across the counter-drone and AI sensing value chain, including VisionWave Holdings, Inc. (NASDAQ: VWAV), Wrap Technologies (NASDAQ: WRAP), Airship AI (NASDAQ: AISP), ParaZero Technologies (NASDAQ: PRZO), and Rekor Systems (NASDAQ: REKR).

Global government spending on counter-UAS systems blew past $29 billion in publicly announced contracts during the first quarter of 2026, with layered defense programs scaling across the United States, NATO's eastern flank, and the Gulf states[3]. NATO allies are now locking in rapid acquisition frameworks for autonomous interceptor drones built around sensor fusion and AI-driven threat classification, turning what was once a pilot-stage concept into an operational procurement priority[4]. These market projections and budget figures are third-party estimates and subject to change; the Company makes no representation as to their accuracy or completeness.

VisionWave Holdings (NASDAQ: VWAV) recently filed a U.S. provisional patent application for its xCalibre™ visual intelligence platform, a system designed to convert conventional camera feeds into structured sensor data for detection, tracking, threat scoring, and real-time response. The filing, submitted under U.S. Patent Application No. 64/048,141, describes a multi-stage AI architecture that treats cameras not as passive video recorders but as intelligent sensor inputs across visible, thermal, infrared, body-worn, vehicle-mounted, airborne, and robotic platforms. VisionWave believes the patent strengthens its position around AI-driven computer vision, edge intelligence, and advanced sensing for defense, security, and autonomous systems. A provisional patent application does not guarantee that any claims will be allowed, that any patent will issue, or that any issued patent will provide meaningful commercial protection or be enforceable.

"xCalibre represents a shift from video analytics to video-as-a-sensor intelligence," said Danny Rittman, CTO of VisionWave Holdings. "The system is designed to ask a more intelligent question: not simply what is visible in the frame, but which parts of the scene matter, what remains uncertain, and where deeper analysis should be applied."

The patent filing builds on a series of moves VisionWave has made since early 2026 to assemble a layered defense and sensing platform. The company announced a signed term sheet to acquire up to 51% of Foresight Autonomous Holdings (NASDAQ: FRSX) for $17.5 million in VisionWave equity, pairing Foresight's stereo vision and thermal imaging with the xCalibre AI platform VisionWave acquired on April 10, 2026. That xCalibre IP was independently valued at approximately $60 million by BDO Consulting Group (such valuation is not a fairness opinion and carries no assurance of realizable benefit). The valuation is not an appraisal of fair market value for accounting purposes and is not a guarantee of future economic benefit; the Company will assess accounting treatment in accordance with GAAP upon finalization of purchase accounting. Together, these deals are designed to create a three-layer sensing stack: RF detection, camera-based perception, and AI-driven video analytics.

Beyond the Foresight deal, VisionWave completed Phase One of its strategic transaction with SaverOne 2014 (NASDAQ: SVRE), reached an agreement to advance a planned 51% acquisition of C.M. Composite Materials, acquired a controlling stake in Junko Solar through subsidiary Solar Drone, presented autonomous drone applications to Latin American government officials, and secured a Letter of Engagement providing exclusive access to offshore energy blocks in the Liberia Basin. Earlier milestones include a $10 million Statement of Work for its QuantumSpeed AI acceleration platform and the unveiling of ARGUS, its space-enabled AI counter-drone system.

All pending transactions remain subject to definitive agreements, regulatory approvals, customary closing conditions, and the Company's ability to obtain any required financing. There can be no assurance that any of these transactions will be completed on the terms described or at all.

VisionWave is positioning itself as a vertically integrated defense and commercial technology company with a growing portfolio spanning RF sensing, AI video intelligence, autonomous drones, aerospace composites, solar infrastructure, and energy exploration across Israel, India, Germany, Latin America, and West Africa. All pending transactions remain subject to definitive agreements, regulatory approvals, and customary closing conditions. All statements regarding future plans, expectations, or projections are forward-looking and subject to risks and uncertainties described in the Company's SEC filings.

CONTINUED… Read this and more news for VisionWave Holdings at: https://equity-insider.com/vwav-landing 

Wrap Technologies (NASDAQ: WRAP) has announced a strategic partnership with Vector to develop drone-enabled non-lethal response and counter-UAS systems targeting law enforcement, homeland security, and national security missions. The collaboration integrates Wrap Technologies' non-lethal response platform, including its Drone as First Responder and DFR-X interdiction system, with Vector's unmanned tactical hardware, command and control systems, and operator training capabilities.

"Our vision for NLR extends far beyond a single device," said Jared Novick, President of Wrap Technologies. "It is about creating an integrated ecosystem of technologies, training, and operational doctrine that allows officers and operators to intervene earlier and resolve situations before they escalate."

The partnership is expected to advance joint engineering, technology integration, and commercialization activities across multiple mission areas, including remote restraint, human-in-the-loop counter-UAS response, and integrated kinetic and non-kinetic counter-drone capabilities. The two companies also plan to pursue coordinated government affairs and policy engagement to support responsible regulatory adoption of drone-enabled non-lethal technologies. Target customers include U.S. federal agencies, domestic law enforcement organizations, and allied government partners across international markets.

Airship AI (NASDAQ: AISP) received a $2.1 million firm-fixed-price award from an agency within the Department of Homeland Security for AI-driven video, sensor, and data management surveillance solutions supporting public safety and investigative requirements along the Northern and Southern Borders. The brand-name-only designation reflects continued momentum and growing federal recognition of Airship AI's AI-driven edge capabilities as the administration prioritizes national security and autonomous surveillance.

"This award reflects the continued momentum and critical importance of AI-driven surveillance solutions in advancing public safety and homeland security, especially along the Northern and Southern Borders," said Paul Allen, President of Airship AI. "As the administration prioritizes strengthening national security, autonomous edge AI-driven surveillance solutions are proving to be an essential force multiplier for law enforcement, delivering greater operational efficiency, enhanced accuracy, and improved threat detection."

Airship AI aggregates thousands of edge-generated feeds into a unified single pane of glass, providing real-time alerts on suspicious activity at both regional and national scales through its Outpost AI Appliance and Fortress AI Server platforms. The award supports the company's expanding role in programs including the Smart Wall border security initiative and broader DHS homeland security operations.

ParaZero Technologies (NASDAQ: PRZO) secured a framework agreement valued at over $650,000 with a Tier-1 international autonomous drone interception company, covering full integration of the DefendAir Net Pod into the client's new drone platform and a minimum purchase of 2,000 customized Net Pod units. The agreement expands an existing partnership and supports worldwide deployment of ParaZero Technologies' non-explosive, net-based counter-UAS solution.

"We are excited to deepen our collaboration with this particular tier-1 defense company through this comprehensive integration of our proven C-UAS, DefendAir Net Pod," said Ariel Alon, CEO of ParaZero Technologies. "This agreement validates the value of our Net Pod technology and we believe that this positions ParaZero as an industry leader defining the category of non-explosive, net-based drone interception."

ParaZero Technologies designs and manufactures counter-UAS and aerial safety systems for commercial, industrial, and government operators worldwide, with the DefendAir Net Pod providing kinetic net capture to neutralize hostile drones across both battlefield and urban environments through growing partnerships with Tier-1 defense integrators.

Rekor Systems (NASDAQ: REKR) secured a landmark patent from the United States Patent and Trademark Office for an incident-based method of dynamically storing automatic license plate recognition and vehicle data based on the severity of suspected criminal activity. The patent addresses a longstanding dilemma in public safety: agencies previously had to choose between blanket data deletion or indefinite storage of records on innocent drivers.

"There is a national debate ongoing about whether automated license plate recognition technology should be eliminated or allowed to expand without significant restrictions," said Charles Degliomini, Executive Vice President of Government Relations of Rekor Systems. "Our patented approach enables communities to shift from broad, time-based ALPR and vehicle data storage to more targeted, incident conditions-based retention. By only keeping vehicle and license plate data related to the type and severity of an actual offense, we address privacy concerns while still providing law enforcement with the tools needed to investigate serious criminals."

Rekor Systems has built a portfolio of 30 filed patents, including six awarded, with prior grants covering privacy-enhanced traffic monitoring and advanced image processing. The company positions its roadway intelligence platform as a responsible framework for communities seeking to balance effective law enforcement with strict data protection standards.

FURTHER READING: https://equity-insider.com/vwav-landing

Disclaimer: This is a paid promotional advertisement. Nothing in this publication should be considered as personalized financial advice or an offer to buy or sell securities. VisionWave Holdings, Inc. has paid compensation to USANewsGroup.com / Market IQ Media Group, Inc. for the preparation and distribution of this material. USANewsGroup, MIQ, and their affiliates may hold shares of VWAV and may sell them at any time, creating a conflict of interest.

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USANewsGroup.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ('MIQ'). MIQ has been paid a fee for VisionWave Holdings, Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of VisionWave Holdings, Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ owns shares of VisionWave Holdings, Inc. which were purchased in the open market. MIQ reserves the right to buy and sell, and will buy and sell shares of VisionWave Holdings, Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by VisionWave Holdings, Inc.; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

FORWARD-LOOKING STATEMENTS

This communication contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this communication other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the potential impact of the U.S. Department of Defense's fiscal 2027 drone and counter-drone budget, the anticipated benefits and commercialization of the xCalibre™ visual intelligence platform and the provisional patent application No. 64/048,141, the expected benefits and timing of the Company's pending or proposed acquisitions (including the Foresight Autonomous Holdings term sheet, SaverOne 2014 transaction, C.M. Composite Materials acquisition, and other strategic initiatives), market growth projections for counter-UAS systems, and the Company's overall business strategy, growth plans, and positioning in the defense and autonomous systems markets.

These forward-looking statements are based on the Company's current expectations, assumptions, estimates, and projections about its business and the industry in which it operates. Such statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, those described under the caption "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov and on the Company's website at https://www.vwav.inc/).

VisionWave Holdings, Inc. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.

CONTACT:

Equity Insider
[email protected]
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SOURCES:

https://defensescoop.com/2026/04/21/dod-plans-largest-ever-investment-drones-anti-drone-weapons/  https://fedscoop.com/dhs-budget-border-wall-surveillance-shutdown/  https://www.unmannedairspace.info/counter-uas-systems-and-policies/global-government-spending-on-c-uas-reaches-usd29-billion-in-first-months-of-2026/  https://www.defensenews.com/global/europe/2026/05/05/nato-nations-size-up-an-interceptor-drone-bazaar-where-low-price-is-everything/  Logo: https://mma.prnewswire.com/media/2840019/Equity_Insider_Logo.jpg

MIAMI, May 13, 2026 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in non-lethal response, today announced financial and operating results for the first quarter ended March 31, 2026, highlighted by triple-digit growth in product sales, an expanding active installed base, and a strengthened balance sheet as the Company continues to execute against its target of approximately 100% revenue growth in 2026.

First Quarter 2026 Financial Highlights (vs. Q1 2025):

Revenue increased 45% to $1.1 million, compared to $0.8 million in the prior-year periodBookings totaled $3.2 million in Q1 2026, including approximately $1.1 million from domestic sales and $2.1 million from international sales, reflecting continued global demand for Wrap’s Non-Lethal Response solutions.Product sales increased 186% to $0.9 million, compared to $0.3 million in the prior-year quarter, driven by increased domestic and international demand for the BolaWrap 150 product lineWrap received a purchase order for BolaWrap technology from the U.S. Department of Homeland Security, providing an early federal adoption milestone as the Company advances its Wrap Federal strategy across non-lethal response, drone interdiction, and counter-UAS markets.Gross profit increased 16% to $0.7 million, compared to $0.6 million in the prior-year periodGross margin was 62%, compared to 78% in the prior-year periodTotal operating expenses were $5.5 million, compared to $4.5 million in the prior-year period, with the year-over-year increase primarily reflecting higher non-cash share-based compensation expenseLoss from operations was $(4.8) million, compared to $(3.9) million in the prior-year periodNet loss was $(4.5) million compared to net income of $0.1 million in the prior-year period; the prior-year period included a $4.0 million non-cash gain from the change in fair value of warrant liabilitiesCash and cash equivalents were $7.3 million at March 31, 2026, compared to $3.5 million at December 31, 2025Cash used in operating activities improved 59% to $(1.2) million, compared to $(3.1) million in the prior-year period Business Highlights:

Drone Related Technology Expansion & Pre-Order Sales. Wrap secured a binding pre-order for drone and counter-drone systems supporting expansion across the United Kingdom and Europe.The Company also received a follow-on DFR-X drone interdiction order from a Panama-based partner, reflecting international interest in non-lethal aerial response technologies.Wrap entered into a strategic agreement in India covering BolaWrap, WrapReality, and DFR-X drone interdiction systems, expanding its international market presence and integrated platform strategy. R&D into Additional Platforms and Markets. Wrap continued its Made-in-America supply chain initiative.The Company established a drone testing and Non-Lethal Response training site in Florida in partnership with WOFT to accelerate product development, testing, and operational training capabilities.Wrap filed an intellectual property application for a next-generation multi-shot non-lethal response system and announced an R&D expansion into net-based drone interdiction, broadening its non-lethal counter-UAS portfolio and expanding into new operational applications. Deepening Existing Customers with Additional Sales. Multiple agencies transitioned to department-wide BolaWrap 150 deployments for all sworn officers, consistent with the Company’s strategy of expanding from individual device placements to agency-wide programmatic adoption.Wrap expanded international training and certification activity through instructor retraining and program growth with the Malta National Police Force.Continued consumable reorder activity across the active installed base reinforced ongoing field utilization and recurring customer engagement. Q1 2026 Management Commentary Summary:

Customers are increasingly resonating with technologies centered around early intervention, threat detection, and safer response outcomes, which aligns with the operational philosophy behind Wrap’s flagship BolaWrap platform. As public safety agencies continue seeking alternatives that can intervene earlier, reduce escalation risk, and integrate force governance considerations, the Company believes demand may expand beyond traditional handheld tools toward integrated systems capable of supporting safer autonomous and semi-autonomous response models over time. The foregoing are forward-looking statements subject to the risks and uncertainties described below under “Cautionary Note on Forward-Looking Statements.”

Wrap believes the future of public safety will increasingly involve advanced platforms such as drones equipped with non-lethal response technologies capable of extending distance, increasing response speed, and reducing risk to both officers and the public. The Company’s recent drone and counter-drone pre-orders, including orders supporting deployment across the United Kingdom and Europe, provide early commercial validation that customers are beginning to evaluate non-lethal drone response as part of the next evolution of public safety and security infrastructure.

Internationally and domestically, customer adoption of Non-Lethal Response continued to deepen during the quarter as agencies increasingly evaluated BolaWrap, Wrap Reality, and DFR-X as part of a single integrated operational capability rather than standalone products. Multiple agencies expanded into broader department-wide deployments, while international engagements across Europe, India, Panama, and Malta reinforced growing demand for integrated non-lethal response and drone interdiction solutions.

At the same time, recent R&D investments began demonstrating early commercial upside. Pre-orders for drone and counter-drone systems, expansion into net-based drone interdiction, development of next-generation multi-shot systems, and continued investment in manufacturing, training, and intellectual property infrastructure reflect Wrap’s strategy to scale against converging global public safety, security, and counter-UAS requirements.

Q1 also strengthened the Company’s operating foundation entering the balance of the year. Cash use from operations declined substantially year-over-year while revenue grew, and the Company believes its February capital raise was structured to help address manufacturing capacity as a bottleneck against accelerating demand. Wrap intends to continue investing behind market adoption opportunities rather than managing to a fixed cost structure.

The cadence of agency adoption and international engagement continued to accelerate following quarter end, as the Company aims to expand its reach into additional international markets and new verticals such as healthcare. Wrap continues to target 100% revenue growth for 2026, with management’s confidence in that outlook supported by trends observed throughout Q1.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap's complete public safety portfolio includes the non-lethal BolaWrap® 150 device, WrapReality™ immersive training platform, WrapVision™ body-worn camera system, WrapTactics™ training programs, and next-generation C-UAS solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which supports the Company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. Wrap's BolaWrap® 150 solution leads in non-lethal response intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the window and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is not pain-based compliance. It does not shoot, strike, shock, or incapacitate, instead, it helps officers strategically operate on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap's commitment to public safety through cutting-edge technology and expert training.

WrapReality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality™ is intended to equip officers with the skills and confidence to navigate high-stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video picture quality and field of view.

The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

Wrap, the Wrap logo, BolaWrap®, WrapReality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "anticipate," "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control and include, but are not limited to, statements relating to the Company's target of approximately 100% revenue growth in 2026; the expected expansion of agency-wide deployments; the expected recurring revenue growth from subscription-based training and digital evidence management; the Company's ability to enter and generate revenue from the federal and defense market through Wrap Federal; the development, demonstration, government testing, and commercialization timeline for the MERLIN drone interdiction system and 1KC anti-drone cassette; the expected benefits and growth from international expansion, including the strategic agreement covering the Indian market; the Company's planned future products, technologies, and intended product designs and expected benefits therefrom; expected market opportunities and outcomes related to the Company's Non-Lethal Response, Wrap's planned future products, technologies, integration, intended product designs and expected benefits therefrom, expected market opportunities and outcomes related to Wrap's products to increase officer and public safety; the Company’s expectations regarding expansion into new verticals, including healthcare; the Company’s beliefs regarding the future role of autonomous and semi-autonomous response models and drone-equipped non-lethal platforms in public safety; and the expected benefits of the Company’s capital raise in addressing manufacturing capacity constraints. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to achieve its targeted approximately 100% revenue growth in 2026; the Company's ability to maintain compliance with the Nasdaq Capital Market's listing standards; the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce products for its customers; the Company's ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for countries outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:

(800) 583-2652
[email protected]

Wrap Technologies NASDAQ: WRAP said first-quarter revenue rose 45% year-over-year as product sales for its BolaWrap 150 line accelerated, while management reiterated its goal of doubling revenue in 2026.

On the company’s first-quarter 2026 earnings call, Chief Executive Officer Scot Cohen said management’s confidence in its full-year target had strengthened since March, citing greater visibility into the sales pipeline and continued momentum entering the second quarter.

“One quarter in, I can tell you that based on the information we have today, our conviction in that target has strengthened,” Cohen said. He added that first-quarter results suggested the company’s pipeline “is beginning to convert” and that agencies using BolaWrap are expanding their adoption.

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Product Sales Drive First-Quarter Revenue Growth Vice President of Finance Louis Springer said total revenue for the quarter ended March 31, 2026, was $1.1 million, up from $0.8 million in the prior-year period. Product sales increased 186% to $0.9 million, compared with $0.3 million a year earlier, driven by domestic and international demand for the BolaWrap 150 product line.

Bookings grew to $3.2 million during the period, according to Springer. He said cassettes and consumables represented a growing portion of product revenue, which the company views as consistent with a larger base of BolaWrap devices in active field use.

Technology-enabled services revenue declined to $0.2 million from $0.5 million in the prior-year quarter. Springer said the change reflected growth in WrapVision and related software revenue, offset by the wind down of certain advisory and investigative services. He said the company is focusing that revenue line on higher-margin subscription and software-based offerings, including WrapTactics, Wrap Reality and WrapVision evidence management subscriptions.

Gross profit rose 16% to $0.7 million from $0.6 million a year earlier. Gross margin declined to 62% from 78%, which Springer attributed to a higher mix of hardware product sales, which carry lower margins than software subscription and managed services revenue. He said the company currently expects margins to improve if technology-enabled services become a larger share of revenue during 2026, while noting there is no assurance that mix shift will occur at the expected pace or magnitude.

Expenses Rise, Operating Cash Use Improves Total operating expenses were $5.5 million, compared with $4.5 million in the prior-year period. Within selling, general and administrative expense, share-based compensation was $2.4 million, up from $1.7 million a year earlier. Cash-based SG&A was $3 million, compared with $2.5 million, reflecting investment in sales and go-to-market expansion.

Cash used in operating activities improved 59% to $1.2 million from $3.1 million in the prior-year period. Springer said the improvement reflected higher revenue, disciplined cost management and reduced cash burn, even as the company continued to invest in sales and go-to-market activities.

“We believe the first quarter results reflect a leaner, more focused business that is beginning to grow with the non-lethal response framework we laid out last quarter,” Springer said.

Management Highlights International and Federal Opportunities Cohen said the company has expanded its international footprint in India, Panama, Brazil, Malta and the U.K. He also said recurring elements of the business are beginning to take shape across BolaWrap, Wrap Reality, drone and counter-drone solutions.

In operational remarks, the company said agencies are showing increased interest in moving from single-device purchases to broader agency-wide adoption. Management said an integrated approach that includes hardware, technology, training and policy is resonating with customers.

The company also said its federal and defense market strategy is supported by consultants and advisers positioning its portfolio for customers including the Department of Defense and Department of Homeland Security. Management cited TAA-compliant products, Made in America manufacturing efforts and procurement infrastructure through Carahsoft as its master government aggregator as part of that strategy.

On drone and counter-drone initiatives, management said research and development investments in drone-to-drone and drone-to-person capabilities are showing traction. The company reported pre-orders for both drone and counter-drone systems, including recent orders across the U.K. and Europe, follow-on DFR-X orders from a partner in Panama and R&D expansion into net-based drone interdiction.

2026 Outlook Remains Focused on 100% Revenue Growth Cohen reiterated that the company continues to target 100% revenue growth for 2026. He said the company is pursuing contracts for 2026 and 2027 that, if awarded, could meaningfully increase the scale of the business. However, he noted those opportunities remain subject to competitive processes, government funding decisions and other factors outside the company’s control.

For the balance of 2026, Cohen said the company’s priorities are to continue converting its pipeline, deepen agency-wide adoption, advance federal and international opportunities and execute against its revenue target.

Q&A Addresses Financing, CFO Search and Trading Volume During the question-and-answer portion of the call, Cohen was asked whether the company’s current financing approach should be viewed as a temporary bridge or a continuing capital structure model. He said stronger fundamentals, increased stock liquidity and continued top-line execution could expand the company’s financing options.

Cohen said he has personally participated in financing rounds and acknowledged that raising capital has been difficult while the company was not performing. He said that if the company executes on its growth plan, it should have “real financing options” for the first time.

Asked what shareholders should watch for as evidence of reduced reliance on more dilutive financing structures, Cohen pointed to execution on fundamentals and the potential to attract more institutional investors. He said one sign would be the company completing a larger financing transaction involving institutions that are active filers in small-cap companies with long-term positions.

Cohen also said the company is searching for a chief financial officer. He said the company’s financial systems and controls are “the best they’ve ever been” and that a CFO would help communicate the company’s story to capital markets and investors.

In response to a question about unusually high trading volume on April 10, 2026, Cohen said he did not see major changes in the company’s capitalization table after the event. He said his “best guess” was that the activity was related to algorithmic trading.

About Wrap Technologies NASDAQ: WRAPWrap Technologies, Inc NASDAQ: WRAP is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.

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Shares of Wrap Technologies, Inc. (WRAP - Free Report) have gained 2.8% since the company reported its earnings for the quarter ended March 31, 2026, outperforming the S&P 500 index’s 0.2% growth over the same period. However, over the past month, the stock has declined 1.3%, lagging the S&P 500’s 5.7% increase.

Wrap Technologies incurred a first-quarter 2026 net loss of 9 cents per share compared with breakeven results in the prior-year quarter.

Revenues of $1.1 million reflected a 45% rise from $0.8 million in the year-ago quarter, driven by strong growth in product sales. Product revenues surged 186% to $0.9 million from $0.3 million, reflecting higher shipments of BolaWrap 150 devices and cassettes to domestic and international customers. Technology-enabled services revenue, however, fell 50% year over year to $0.2 million from $0.5 million due to the wind-down of certain advisory and investigative service arrangements.

The company posted a net loss of $4.5 million against a net income of $0.1 million in the prior-year period. Gross profit rose 16% to $0.7 million, though gross margin contracted to 62.2% from 77.8% as hardware product sales accounted for a larger share of revenues.

Product Demand and Revenue TrendsManagement said the quarter reflected improving commercial traction and increasing adoption of its non-lethal public safety solutions. CEO Scot Cohen noted on the earnings call that the company’s sales pipeline continued to strengthen into the second quarter and reiterated management’s target of achieving 100% revenue growth in 2026.

The company highlighted recurring revenue growth from cassettes and consumables tied to its expanding installed base of BolaWrap devices in active field use. Subscription activity in Wrap Reality, WrapTactics and WrapVision also increased during the quarter. International expansion contributed to growth, with the company citing activity in India, Panama, Brazil, Malta and the U.K.

Bookings increased to $3.2 million during the quarter, signaling improving order momentum. The Americas generated $0.6 million in revenues, while Europe, the Middle East and Africa contributed $0.5 million, up sharply from $0.1 million a year earlier.

Expense Trends and ProfitabilityOperating expenses increased 21% year over year to $5.5 million. Selling, general and administrative expense climbed 29% to $5.4 million, primarily because of higher share-based compensation costs. Share-based compensation allocated to SG&A totaled $2.4 million, up from $1.7 million in the prior-year quarter. Cash-based SG&A expenses also rose due to investments in sales expansion and professional fees.

Research and development expense declined 72% to $0.1 million as the company shifted to a more variable-cost development model and reduced headcount dedicated to research activities. Management said its primary platforms, including BolaWrap 150, WrapTactics, WrapVision and Wrap Reality, have moved beyond the core development phase into commercialization.

Operating loss widened to $4.8 million from $3.9 million a year ago. The year-ago quarter also benefited from a $4 million non-cash gain related to changes in the fair value of warrant liabilities, which did not recur in 2026.

Liquidity and Capital PositionWrap Technologies ended the quarter with cash and cash equivalents of $7.3 million, up from $3.5 million at Dec. 31, 2025. Working capital improved to $12.6 million from $9.6 million at the end of last year. The increase was driven mainly by $5 million in proceeds from a February 2026 private placement and $0.1 million from warrant exercises.

Net cash used in operating activities improved to $1.2 million from $3.1 million in the prior-year quarter, helped by better working capital management, collections of accounts receivable and lower inventory balances. Management said the company believes its current cash position is sufficient to fund operations for at least the next 12 months.

Management Outlook and Strategic InitiativesManagement maintained its target for 100% revenue growth in 2026, citing improved pipeline visibility and increasing agency-wide adoption trends. The company continues to focus on expanding deployments of BolaWrap devices, increasing subscription-based software revenue and advancing commercialization of its WrapVision body-camera platform.

Executives also pointed to early traction in counter-drone and drone-interdiction initiatives under the MERLIN program. Management disclosed preorders for drone and counter-drone systems, including orders across the U.K. and Europe, as well as follow-on DFR-X orders in Panama.

Other DevelopmentsDuring the quarter, Wrap Technologies completed a $5 million private placement involving common stock, pre-funded warrants and common warrants. The financing closed on Feb. 3, 2026.

The company also terminated the lease for its Coconut Grove, Fla., office in February 2026, generating a non-cash gain of $0.2 million tied to the derecognition of lease liabilities. It subsequently entered into a month-to-month service agreement for a new Miami business address.