Welcome to our dedicated page for Byrna Technologies news (Ticker: BYRN), a resource for investors and traders seeking the latest updates and insights on Byrna Technologies stock.
Byrna Technologies Inc. (Nasdaq: BYRN) is a pioneering less-lethal defense technology company that designs, manufactures, and distributes innovative personal security solutions. The company's flagship product, the Byrna HD, is a handheld personal security device designed for use by civilians and private security professionals. This state-of-the-art CO2-powered launcher offers a less-lethal alternative to firearms, capable of deploying impact rounds and payload rounds carrying chemical irritants or marking products. Additionally, Byrna offers a range of accessories and third-party products compatible with the Byrna HD.
Byrna's product portfolio also includes less-lethal munitions suitable for military, correctional services, police agencies, and private security markets. These munitions comprise 40mm rifled launchers and 12 gauge less-lethal impact rounds, providing effective non-lethal options to stop individuals without causing permanent injury or death. The company serves customers across the United States, Canada, South Africa, and other international markets.
Founded in 2005 and headquartered in Andover, Massachusetts, Byrna has recently expanded its manufacturing capacity in response to surging demand driven by new marketing campaigns. The company's facility in Fort Wayne, Indiana, now boasts increased production capabilities, with a second assembly line and a 25% increase in personnel, allowing for a production boost from 10,000 to 12,500 units per month.
This expansion supports Byrna's efforts to meet the growing demand, particularly in the direct-to-consumer (DTC) market. The company has experienced significant sales growth, bolstered by the success of its celebrity influencer network, which includes notable figures such as Sean Hannity, Glenn Beck, Bill O'Reilly, and Judge Jeanine Pirro. This influencer-driven strategy has led to remarkable increases in web traffic and sales, especially during typically slow post-holiday months.
Byrna has also seen increased traction with large public safety agencies and premier dealer partners in Canada and Mexico. The company's first premier dealer in Canada, Byrna Toronto, has reported strong sales since opening, reflecting the growing acceptance of Byrna's less-lethal launchers as effective personal defense options.
Financially, Byrna reported net revenue of $15.6 million for Q4 2023, demonstrating strong domestic growth despite a slight year-over-year decline due to a previous one-time surge in international sales. The company's gross profit for the quarter increased to $9.0 million, driven by a higher percentage of sales from the higher-margin DTC channel. Byrna ended FY 2023 with $20.5 million in cash and cash equivalents and no debt, providing a stable foundation for continued growth.
Byrna's commitment to enhancing law enforcement capabilities is exemplified by its recent contract with the Córdoba Provincial Police force in Argentina for 10,000 Byrna launchers, adding to the 5,000 previously purchased. The company aims to have 100% of the force trained with Byrna launchers by the end of 2024, supported by Byrna's T3 (Train-The-Trainer) program.
Looking ahead, Byrna remains focused on leveraging its strong financial position, expanding its market reach, and increasing production capacity to meet rising demand. The company's innovative less-lethal solutions are poised to continue gaining traction in both the consumer and professional security markets.
Byrna Technologies (NASDAQ: BYRN) reported strong financial results for Q4 and FY 2024. The company achieved record Q4 revenue of $28.0 million, up 79% year-over-year, and full-year revenue of $85.8 million, a 101% increase from 2023.
Q4 2024 highlights include net income of $9.7 million compared to a loss of $0.8 million in Q4 2023, and gross profit margin improvement to 63%. The company ended the year with $25.7 million in total available funds and no debt.
Key operational developments include surpassing 500,000 launchers sold, increasing production capacity by 33% to 24,000 launchers monthly, opening new retail stores, and signing an LOI with Sportsman's Warehouse for a store-within-store pilot program. The company also expanded its celebrity endorsement program, maintaining a return on ad spend above 5.0X.
Byrna Technologies (Nasdaq: BYRN) announced the opening of its second company-owned retail store in Franklin, Tennessee, part of the Greater Nashville Area. The store features an in-store shooting range and follows the success of their Las Vegas location, which achieved an annual run rate exceeding $1 million with gross profit margins over 60%.
The Nashville store is part of a broader retail expansion strategy, with three additional stores planned to open in Fort Wayne, Indiana, Scottsdale, Arizona, and Salem, New Hampshire in early 2025. The Las Vegas store demonstrated impressive conversion rates of approximately 80% compared to 1% online, highlighting the effectiveness of the hands-on retail experience.
The company aims to normalize less-lethal solutions as a mainstream personal safety choice while establishing a stronger physical presence in key markets. The retail strategy involves a phased approach to scaling their store model, focusing on optimizing operations and training programs before potential broader expansion.
Byrna Technologies (Nasdaq: BYRN) has announced a strategic partnership with the United States Concealed Carry Association (USCCA), giving Byrna access to promote its less-lethal personal security solutions to USCCA's nearly one million members. The collaboration aims to position Byrna's less-lethal launchers as viable alternatives to traditional firearms while reaching responsible gun owners, a key target demographic.
The USCCA provides education, training, and self-defense liability insurance to its members. Through this partnership, Byrna customers will gain access to USCCA's self-defense training and liability insurance services, ensuring they are well-prepared and protected in self-defense situations.
Byrna Technologies (Nasdaq: BYRN) has announced it will host a conference call on February 7, 2025 at 9:00 a.m. ET to discuss its financial results for the fiscal fourth quarter and full year ended November 30, 2024. The company, which specializes in less-lethal personal security solutions, will release its financial results via press release before the call.
The conference call will be accessible via toll-free dial-in (877-709-8150) and international dial-in (+1 201-689-8354) with Conference ID 13750859. The presentation will be followed by a Q&A session and will be available for replay through the company's Investor Relations website.
Byrna Technologies (NASDAQ: BYRN) announced its participation in the 2025 SHOT Show, scheduled for January 21-24, 2025, at The Venetian Expo and Caesars Forum in Las Vegas. The company will showcase its less-lethal personal security solutions at Booth #15253, offering attendees hands-on experience with Byrna launchers in a controlled environment.
The event, hosted by the National Shooting Sports Foundation (NSSF), is the world's largest trade show for shooting sports, hunting, law enforcement, and personal defense industries, featuring over 2,700 exhibitors and 100,000 products. During the show, Byrna will present its Dealer of the Year Awards and share updates on its retail strategy, including company-owned stores and partnerships.
Byrna Technologies (Nasdaq: BYRN), a personal defense technology company, announced a charitable initiative to support Los Angeles wildfire victims. The company will donate 10% of all proceeds from purchases made on Byrna.com through January 21, 2025, to four organizations: Salvation Army LA, American Red Cross, LA Food Bank, and California Wildfire Recovery Fund.
CEO Bryan Ganz expressed the company's commitment to helping affected communities recover and rebuild. Chief Marketing Revenue Officer Luan Pham, who grew up in Los Angeles, discussed the initiative during an interview on The Sean Hannity Show, highlighting the importance of community support during crisis situations.
Byrna Technologies (Nasdaq: BYRN) has announced significant strides in its Latin American strategy, focusing on expanding its manufacturing capacity in Argentina to meet rising demand for its less-lethal security solutions.
Byrna LATAM plans to produce 3,000 launchers per month starting in Q1 2025 and expand ammunition production, including Byrna's Mission-4 and SDXL launchers in Argentina in 2025. A dedicated ammunition factory in Córdoba Province will boost the availability of Byrna Max and Byrna Pepper projectiles across Latin America.
In 2024, the Córdoba Provincial Police deployed 15,000 Byrna SD and Mission-4 units and ordered an additional 10,000 units for 2025, generating approximately $1.5 million in royalty income for Byrna Technologies. Byrna LATAM is also in talks with agencies in Peru and Brazil, potentially increasing production beyond 3,000 units per month.
Byrna's CEO, Bryan Ganz, highlighted the success and regional demand for Byrna's solutions during a recent visit to Buenos Aires, where he met with Argentina's Vice President Victoria Villarruel and the Córdoba Police Chief.
Byrna retains the right to repurchase 100% of Byrna LATAM based on profitability and compliance with U.S. audit standards, which would allow Byrna to include LATAM's sales in its topline numbers. Byrna expects to earn between $1.0 and $2.0 million in royalty income in 2025 based on LATAM's production plans.
Byrna Technologies (NASDAQ: BYRN) announced plans to increase launcher production by 33% to 24,000 units monthly starting January 2025, up from current 18,000 units. The company will implement two full shifts at its Fort Wayne, Indiana facility, with additional Saturday capacity when needed.
The company will also begin producing payload ammunition at a new facility near its launcher factory. These initiatives are part of Byrna's 'Made in America' strategy, which has increased US-sourced components from 11% to 79% since 2020. Byrna plans to exit China within six months and achieve 100% domestic sourcing for its Byrna SD launcher by end-2025.
The company expects improved margins through increased freight efficiency, higher volumes, and better supply chain management, offsetting potential price increases from domestic sourcing.
Byrna Technologies (Nasdaq: BYRN) has announced reaching a significant milestone of 500,000 launchers sold in November 2024, just five and a half years after its first sale in 2019. The company's growth trajectory shows remarkable acceleration, reaching 100,000 units in Q4 2021, 250,000 by Q1 2023, and doubling its sales over the past two years.
The introduction of the Byrna LE launcher in early 2023 and the company's strategic use of celebrity influencers have contributed to significant growth, resulting in doubled annual revenue from fiscal year 2023 to 2024. This achievement demonstrates increasing market adoption of Byrna's less-lethal personal security solutions.
Byrna Technologies reported preliminary Q4 2024 revenue of $28.0 million, a 79% increase from $15.6 million in Q4 2023. Full-year 2024 revenue reached a record $85.8 million, more than doubling from $42.6 million in 2023. E-commerce channels grew by $8.9 million year-over-year, representing 76% of total Q4 sales.
Launcher production exceeded 55,000 units in Q4 at the Fort Wayne facility. International sales increased by $1.0 million, including $43,000 in royalties from Byrna LATAM. Black Friday and Cyber Monday sales will be included in Q1 2025 results. The company's fulfillment team can now process over 2,000 packages daily.
FAQ
What is the current stock price of Byrna Technologies (BYRN)?
What is the market cap of Byrna Technologies (BYRN)?
What products does Byrna Technologies Inc. offer?
What markets does Byrna Technologies Inc. serve?
How has Byrna Technologies Inc. expanded its manufacturing capacity?
What financial results did Byrna Technologies Inc. report for Q4 2023?
Who are some of the celebrity influencers associated with Byrna Technologies Inc.?
What is Byrna Technologies Inc.'s T3 (Train-The-Trainer) program?
What recent achievements has Byrna Technologies Inc. made in international markets?
How has Byrna Technologies Inc. performed in FY 2023?
What strategies is Byrna Technologies Inc. implementing to drive sales growth?
What is the significance of Byrna Technologies Inc.'s recent manufacturing expansion?
