Wrap Technologies Terminates Chief Financial Officer DeAlmeida’s Employment
January 6, 2024
🌥️Trending News
Wrap Technologies ($NASDAQ:WRAP), Inc. (WRAP), a leading provider of advanced goods and services for the connected economy, has announced the termination of Alexandre DeAlmeida’s employment as the company’s Chief Financial Officer. Its products include connected security solutions, connected monitoring solutions, and connected access solutions. The company is also committed to developing connected ecosystems that create a safer, more secure, and mobile world for its customers. DeAlmeida’s departure marks a major event in Wrap Technologies’ path towards success. The Board of Directors has taken swift action in order to ensure the company continues to move forward in its mission to enhance digital safety and security for everyone. The company has not released details on the circumstances surrounding DeAlmeida’s dismissal but has expressed its gratitude for his contribution.
Additionally, the Board has appointed a search committee to find a suitable replacement for DeAlmeida.
Price History
WRAP TECHNOLOGIES announced on Friday that they had terminated Chief Financial Officer DeAlmeida’s employment. This news caused the company’s stock to open and close at $2.8, a 2.1% drop from the previous day’s closing price of $2.9. Following the news, WRAP TECHNOLOGIES released a statement saying that the decision to terminate their CFO’s employment was made after careful consideration of strategic objectives and was in the best interest of the company and its shareholders. No further details were shared regarding the specific reasons for the termination. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wrap Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 9.13 | -15.55 | -167.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wrap Technologies. More…
| Operations | Investing | Financing |
| -16.48 | 7.84 | 9.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wrap Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 31.67 | 11.1 | 0.48 |
Key Ratios Snapshot
Some of the financial key ratios for Wrap Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 48.6% | – | -171.9% |
| FCF Margin | ROE | ROA |
| -194.4% | -48.6% | -31.0% |
Analysis
At GoodWhale, we conducted an analysis of WRAP TECHNOLOGIES‘ wellbeing. Based on our Star Chart, WRAP TECHNOLOGIES is classified as ‘cheetah’, which are companies that have achieved high revenue or earnings growth but have lower profitability and are thus, considered less stable. This type of company may be attractive to investors who are looking for long-term growth potential but can take on a higher risk. WRAP TECHNOLOGIES has an intermediate health score of 5/10 with regard to its cashflows and debt, suggesting it might be able to sustain future operations even in times of crisis. In terms of the breakdown of components that make up the Star Chart, WRAP TECHNOLOGIES is strong in asset, growth, and weak in dividend, profitability. More…
Peers
Its products are used in a variety of industries, including food and beverage, pharmaceutical, construction, and more. The company’s products are made with high-quality materials and are designed to meet the needs of its customers. Wrap Technologies Inc has a strong commitment to customer service and provides a wide range of support services to its customers. The company’s products are backed by a team of experts who are available to answer any questions that customers may have.
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Summary
Wrap Technologies (WRAP) recently announced the termination of its Chief Financial Officer (CFO), DeAlmeida, effective immediately. This news has caused investors to take a closer look at the company’s financials. The stock has dropped following the announcement, as investors worry about the implications of the sudden termination. To better understand the impact this news will have on the company’s finances, investors should analyze Wrap Technologies’ balance sheet, cash flow history, and current debt obligations.
Additionally, investors should evaluate the performance of current management and assess their ability to adjust to this unexpected change in leadership. By looking closely at Wrap Technologies’ financials, investors can make informed decisions about the stock and gauge the level of risk involved.
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