Unidentified Company Representative: Thank you, Kevin. Additionally, how has the integration of Wrap Intrensic impacted the company’s operational efficiency and what tangible benefits can shareholders expect from this acquisition?
Kevin Mullins: It’s provided a major impact. The acquisition of Intrensic really solidifies Wrap Technologies as a solutions provider. Now, we have the ability to provide a suite of products packaged together so that we become a budgetary item for each agency. We have a non-lethal solution with BolaWrap. We have a world-class VR training solution with Wrap Reality, and now we have a body camera platform. Intrensic with our evidence on cloud solution, it’s a cloud-based platform that allows us to be able to infinitely scale. It’s digital evidence, its case management, it’s incident management. So provides that for all of law enforcement. What’s different about Intrensic is that we can do a mobile upload. We do video optimization.
We’re very open source in that an agency’s using one platform with their computer-aided dispatch or their RMS, we integrate into those platforms. So we’re not that proprietary where it allows an agency to be able to shift and to move. It also opens up many additional sales verticals and think about Intrensic with schools, with universities, with hospitals, with utility workers, those are just a few. Currently, we sell body-worn cameras into the cannabis industry for security and deliveries. We have our camera platform operating the mining industry. Yes, body cameras are becoming mandated in public safety, but there are so many other verticals and possibilities that allow us to be able to operate with that. And yes, all of these revenue solutions are reoccurring.
So it’s a reoccurring revenue model that we all want to see. And we sell solutions. We have the ability to expand Wrap Technologies as a solution provider, not just BolaWrap. BolaWrap is our core technology at this point where we’re continuing to seek other revenue opportunities, and that’s the advantage and certainly things that become opened up with the acquisition of Intrensic.
Unidentified Company Representative: For Kevin as well, the company has forecasted positive growth for the fourth quarter and into 2024. What specific indicators should shareholders look for, that will signify that the company is on track to meet these projections?
Kevin Mullins: Yes, I mentioned earlier, factors that are driving revenue growth. I feel very positive toward our domestic and the international demand now for our suite of products. Without expanding specifically, we are experiencing substantial pipeline growth for each of our product sets particularly on the international front as well as some high value targets domestically. So we’ve built a sales team and we continue to modify our sales operation to be able to expand and grow. Our model is a bit different now that we’re operating with high value partners out there and aligning those with our inside team, with our outside team, with our customer success team. And so beginning to click on all cylinders and you see that and you see that building within our pipeline that combined with this demand for our product.
When you think about markets worldwide, we’re all looking for that solution, right? That outcome. And that’s what we sell. We’re selling that outcome with BolaWrap. We’re all looking for a way to deescalate situations, again, to lower uses of force, to bridge a community back to law enforcement. And we do that by providing our technology. It’s something that’s very unique in the market. We truly don’t have competition in that remote restraint business. It’s just building the understanding in the market of what our technology is and then driving those opportunities. And that that’s exactly what we’re doing and that’s what we’re seeing that substantial pipeline growth, so very bullish about what our opportunities are. And there’s a lot of excitement.
Everyone can sense it and we’re very much, I believe at a tipping point with Wrap Technologies.
Unidentified Company Representative: This question is for Chris. Chris, considering the increase in SG&A expenses due to one-time items, what measures are being taken to ensure that operational costs remain in check without compromising strategic growth?
