In this paper we develop a fully explicit cut finite element method for the wave equation. The method is based on using a standard leap frog scheme combined with an extension operator that defines the nodal values outside of the domain in terms of the nodal values inside the domain. We show that the mass matrix associated with the extended finite element space can be lumped leading to a fully explicit scheme. We derive stability estimates for the method and provide optimal order a priori error estimates. Finally, we present some illustrating numerical examples.