Byrna Technologies Equips City of Buenos Aires Police with 500 Launchers
Byrna Technologies Inc. (Nasdaq: BYRN) has secured a significant order from the City of Buenos Aires for 500 Byrna SD launchers to equip its police force. The city recently held a demonstration showcasing the training of police officers with these less-lethal devices at the Higher Institute of Public Security (ISSP). Mayor Jorge Macri emphasized the importance of incorporating new technology to address various forms of crime, highlighting Byrna's extended range compared to handheld stun guns.
The Byrna SD, powered by compressed air, shoots .68 caliber projectiles that can disable threats from up to 50 feet away. CEO Bryan Ganz noted that this order demonstrates the effectiveness of Byrna's solutions and signals strong traction in Latin America, with significant orders from large governments and police forces.
- Secured a large order of 500 Byrna SD launchers from the City of Buenos Aires police force
- Public demonstration and endorsement by city officials, including the Mayor
- Expanding presence in Latin America with significant orders from governments and police forces
- Byrna SD recognized as an effective intermediary step before firearms use in policing
- None.
Insights
The purchase by the City of Buenos Aires for 500 Byrna SDs represents a significant sales milestone for Byrna Technologies. Large government orders often serve as a key validation of a company's product, potentially paving the way for more similar orders. This adoption by a major city police force can accelerate revenue growth and market penetration for Byrna, particularly in Latin America. For a technology company like Byrna, this development not only provides immediate financial benefits but also enhances its brand reputation and credibility in the sector of less-lethal security solutions.
From a stock market perspective, investors should note the potential for increased revenue streams and enhanced profitability due to this expanded market footprint. It’s also worth considering that such deals may lead to more contracts, both within the region and globally, boosting Byrna's overall market share.
The deal with Buenos Aires is an important indicator of the market demand for less-lethal personal security solutions. It suggests a growing trend among law enforcement agencies to equip their forces with alternatives to traditional firearms. This shift can be attributed to the increasing public and governmental pressure to reduce the use of lethal force in policing.
By focusing on non-lethal solutions with a considerable range, Byrna is positioning itself well within a niche that seems to be expanding. This move can also influence other municipalities and police departments to adopt similar technologies, which could lead to a broader market opportunity for Byrna. Furthermore, the endorsement by city officials enhances the perceived reliability and effectiveness of Byrna’s products, a critical factor for adoption in other regions.
ANDOVER, Mass., July 17, 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 the city of Buenos Aires has purchased 500 Byrna SDs for its police force. This large order was highlighted in a recent demonstration held by the City of Buenos Aires (the “City”) and Mayor Jorge Macri, where they demonstrated the training of police officers with these new less-lethal devices at the Higher Institute of Public Security (ISSP). The City Police will integrate 500 Byrna SDs into their operations next month, with personnel already undergoing training.
Last week, the City demonstrated how police officers are being trained with the new Byrna SDs, capable of deactivating a threat from up to 20 meters away. This training ensures that officers are proficient in using these state-of-the-art launchers to enhance street safety.
Mayor Macri stated that the City of Buenos Aires is continually incorporating new technology to tackle various forms of crime and confrontations with criminals, and he emphasized the importance of Byrna’s technology in modern policing, noting its reduced lethality and extended range compared to handheld stun guns, making it an intermediary step before the use of firearms.
The Byrna SD is Byrna’s most popular less-lethal pistol. Powered by compressed air (CO2), it shoots .68 caliber round kinetic and/or chemical irritant projectiles that can disable a threat from up to 50 feet away, providing a powerful and non-lethal self-defense option.
Byrna CEO Bryan Ganz commented, “The City of Buenos Aires’ decision to equip their police force with Byrna SDs is a testament to the effectiveness and reliability of our less-lethal solutions. The demonstration and endorsement by city officials underscore the critical role less-lethal weapons play in public safety. Byrna is gaining strong traction in Latin America, securing significant orders with large governments and police forces, further validating our progress toward enhancing global safety.”
Photo courtesy of infocronos.com.ar.
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About Byrna Technologies Inc.
Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-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 less-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," or "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 the timing and magnitude of growth in the Latin American market. 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, market responses to current or future products or services; prolonged, new, or exacerbated disruption of our supply chain; the further or prolonged disruption of new product development; production or distribution disruption or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased transportation costs or interruptions, including due to weather, flooding or fires; 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 or social media platforms, or legislation that prevents or limits 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 or manufacturing 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; 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
FAQ
What is the recent order Byrna Technologies (BYRN) received from Buenos Aires?
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