Byrna Technologies Announces Preliminary Fiscal Fourth Quarter Record Revenues of $28.0 Million
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.
Byrna Technologies ha riportato un fatturato preliminare per il quarto trimestre del 2024 di 28,0 milioni di dollari, con un incremento del 79% rispetto ai 15,6 milioni di dollari del quarto trimestre del 2023. Il fatturato totale del 2024 ha raggiunto un record di 85,8 milioni di dollari, più del doppio rispetto ai 42,6 milioni di dollari del 2023. I canali di e-commerce sono cresciuti di 8,9 milioni di dollari rispetto all’anno precedente, rappresentando il 76% delle vendite totali del Q4.
La produzione di lanciatori ha superato 55.000 unità nel quarto trimestre presso l'impianto di Fort Wayne. Le vendite internazionali sono aumentate di 1,0 milione di dollari, inclusi 43.000 dollari di royalties da Byrna LATAM. Le vendite del Black Friday e del Cyber Monday saranno incluse nei risultati del primo trimestre del 2025. Il team di fulfillment dell'azienda ora può gestire oltre 2.000 pacchi al giorno.
Byrna Technologies reportó ingresos preliminares del cuarto trimestre de 2024 de $28.0 millones, un aumento del 79% desde los $15.6 millones en el cuarto trimestre de 2023. Los ingresos anuales de 2024 alcanzaron un récord de $85.8 millones, más del doble de los $42.6 millones en 2023. Los canales de comercio electrónico crecieron en $8.9 millones en comparación con el año anterior, representando el 76% de las ventas totales del Q4.
La producción de lanzadores superó las 55,000 unidades en el cuarto trimestre en la instalación de Fort Wayne. Las ventas internacionales aumentaron en $1.0 millón, incluyendo $43,000 en regalías de Byrna LATAM. Las ventas del Black Friday y Cyber Monday se incluirán en los resultados del primer trimestre de 2025. El equipo de cumplimiento de la compañía ahora puede procesar más de 2,000 paquetes diarios.
Byrna Technologies는 2024년 4분기 예비 수익이 2800만 달러로, 2023년 4분기 1560만 달러 대비 79% 증가했다고 보고했습니다. 2024년 전체 연간 수익은 8580만 달러로, 2023년 4260만 달러보다 두 배 이상 증가했습니다. 전자상거래 채널은 전년 대비 890만 달러 성장하여 4분기 총 판매의 76%를 차지했습니다.
발사기 생산은 포트 웨인 시설에서 4분기에 55,000대를 초과했습니다. 국제 판매는 100만 달러 증가했으며, 이에는 Byrna LATAM으로부터의 43,000 달러의 로열티가 포함됩니다. 블랙 프라이데이와 사이버 먼데이 판매는 2025년 1분기 결과에 포함될 예정입니다. 회사의 이행 팀은 이제 하루에 2000개 이상의 패키지를 처리할 수 있습니다.
Byrna Technologies a annoncé un chiffre d'affaires préliminaire pour le quatrième trimestre 2024 de 28,0 millions de dollars, soit une augmentation de 79 % par rapport aux 15,6 millions de dollars du quatrième trimestre 2023. Le chiffre d'affaires total pour l'année 2024 a atteint un niveau record de 85,8 millions de dollars, plus du double des 42,6 millions de dollars de 2023. Les canaux de commerce électronique ont augmenté de 8,9 millions de dollars d'une année sur l'autre, représentant 76 % des ventes totales du Q4.
La production de lanceurs a dépassé 55 000 unités au quatrième trimestre dans l'installation de Fort Wayne. Les ventes internationales ont augmenté de 1,0 million de dollars, y compris 43 000 dollars de royalties de Byrna LATAM. Les ventes du Black Friday et du Cyber Monday seront incluses dans les résultats du premier trimestre 2025. L'équipe de fulfillment de l'entreprise peut désormais traiter plus de 2 000 colis par jour.
Byrna Technologies berichtete von vorläufigen Einnahmen im vierten Quartal 2024 in Höhe von 28,0 Millionen Dollar, was einem Anstieg von 79 % gegenüber 15,6 Millionen Dollar im vierten Quartal 2023 entspricht. Der Jahresumsatz 2024 erreichte mit 85,8 Millionen Dollar einen Rekord, was mehr als einer Verdopplung gegenüber 42,6 Millionen Dollar im Jahr 2023 entspricht. Die E-Commerce-Kanäle wuchsen im Jahresvergleich um 8,9 Millionen Dollar und machten 76 % des gesamten Umsatzes im vierten Quartal aus.
Die Produktion von Startern überstieg 55.000 Einheiten im vierten Quartal in der Anlage in Fort Wayne. Internationale Verkäufe stiegen um 1,0 Millionen Dollar, einschließlich 43.000 Dollar an Lizenzgebühren von Byrna LATAM. Die Verkäufe am Black Friday und Cyber Monday werden in den Ergebnissen des ersten Quartals 2025 enthalten sein. Das Fulfillment-Team des Unternehmens kann jetzt über 2.000 Pakete täglich verarbeiten.
- Record Q4 revenue of $28.0 million, up 79% YoY
- Full-year revenue doubled to $85.8 million
- E-commerce sales increased by $8.9 million YoY
- Production capacity reached 55,000 launchers in Q4
- International sales grew by $1.0 million YoY
- Fulfillment capacity expanded to 2,000 packages daily
- Law Enforcement/Schools/Private Security sales declined 46% YoY
Insights
The preliminary Q4 results showcase exceptional growth with
The production capacity reaching 55,000 launchers demonstrates strong operational efficiency and ability to meet growing demand. The shift towards direct-to-consumer sales, combined with expanded fulfillment capabilities handling 2,000 packages daily, suggests improving margins and better control over the sales channel. The exclusion of Black Friday and Cyber Monday sales from Q4 indicates potential strong momentum carrying into Q1 2025.
Byrna's market positioning in the less-lethal security solutions sector shows remarkable traction. The significant growth in dedicated dealer sales (
The company's multichannel strategy is well-balanced, with e-commerce leading growth while maintaining presence in traditional retail and dealer networks. The
Full Year 2024 Revenues of
ANDOVER, Mass., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced select preliminary financial results for the fiscal fourth quarter ended November 30, 2024.
Preliminary Fourth Quarter Results
Based on preliminary unaudited results, the Company expects total revenue for the fiscal fourth quarter of 2024 to be
The significant year-over-year growth in fourth quarter revenue is primarily attributable to the continued success of Byrna’s marketing strategies, bolstered by traditionally strong holiday sales in November. As a result, Byrna’s e-commerce channels were up
Black Friday and Cyber Monday sales on Byrna.com are not included in the Q4 or full-year 2024 results due to the timing of these dates in relation to the Company’s fiscal year end. Orders taken from Thanksgiving, November 28, 2024, through Cyber Monday, December 2, 2024, will be included in Byrna’s Q1 2025 results. These orders have already been shipped out to customers, as Byrna’s fulfillment team has expanded and is now able to ship more than 2,000 packages to customers in a single day.
Management Commentary
“This year, we solidified our position as the leader in the personal less-lethal self-defense product category, driving awareness and adoption of Byrna launchers while normalizing the less-lethal personal security market,” said Byrna CEO Bryan Ganz. “We’ve built remarkable momentum, both growing brand awareness and normalizing less-lethal products as a viable alternative to lethal weapons. While we are still in the early innings of Byrna’s growth trajectory, we believe that the continued growth of our Direct-to-Consumer sales, the upcoming launch of several new Byrna-owned retail stores, and the much anticipated release of Byrna’s materially smaller compact launcher next summer underpins Byrna’s enormous growth potential. We’re looking forward to sustaining this momentum through the holiday season and into 2025 as we continue bringing less-lethal alternatives to individuals and law enforcement professionals.”
Preliminary Fiscal Fourth Quarter 2024 Sales Breakdown:
| Q4 2024 vs. Q4 2023 | |||||||
| Sales Channel ($ in millions) | Q4 2024 | Q4 2023 | % Change | ||||
| Web | $ | 21.3 | $ | 12.4 | 71 | % | |
| Byrna Dedicated Dealers | $ | 5.4 | $ | 3.0 | 78 | % | |
| Law Enforcement / Schools / Pvt Security | $ | 0.1 | $ | 0.1 | (46 | %) | |
| Retail Stores | $ | 0.3 | $ | 0.2 | 59 | % | |
| International | $ | 0.9 | $ | (0.1 | ) | N/A | |
| Total Sales | $ | 28.0 | $ | 15.6 | 79 | % | |
Conference Call
Byrna plans to report its full financial results for the fiscal fourth quarter and full year 2024 in February, which will be accompanied by a conference call to discuss the results and address questions from investors and analysts. The conference call details will be announced prior to the event.
About Byrna Technologies Inc.
Byrna is a technology company specializing in the development, manufacture, and sale of innovative non-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® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a non-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.
Forward-Looking Statements
This news 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,” “be achieved,” or “will be taken.” Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, our statements related to preliminary revenue results for the fourth fiscal quarter and fiscal year 2024, the timing of the release of full financial results for the quarter, trends regarding brand recognition and future sales potential, sales during the holiday season and during 2025, and the Company’s plans to open Company-owned retail stores. 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 affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of the Company’s supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased shipping costs or freight interruptions; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels not to carry or reduce inventory of the Company's products; determinations by advertisers to prohibit marketing of some or all Byrna products; the loss of marketing partners; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or sanctions or embargos that could affect the Company's supply chain or markets; delays in planned operations related to licensing, registration or permit requirements; and future restrictions on the Company's cash resources, increased costs and other events that could potentially reduce demand for the Company's products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. 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, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, 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.
Investor Contact:
Tom Colton and Alec Wilson
Gateway Group, Inc.
949-574-3860
BYRN@gateway-grp.com
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