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Byrna Technologies, Inc. - BYRN STOCK NEWS

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.

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Byrna Technologies Inc. (OTCQB: BYRN) has received approval to list its common stock on the Nasdaq Capital Market, starting May 5, 2021, under the symbol 'BYRN.' This transition from OTCQB is anticipated to enhance the Company's public profile and shareholder base, as stated by CEO Bryan Ganz. Byrna's flagship product, the Byrna® HD, is positioned as a key player in the non-lethal personal security market, reflecting significant sales growth. The Company remains optimistic about its prospects and has the resources to support continued expansion.

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On April 23, 2021, Byrna Technologies Inc. (OTCQB: BYRN) announced a reverse stock split of one post-consolidation share for every ten pre-consolidation shares, effective April 27, 2021. This consolidation aims to meet national exchange listing requirements. The CEO emphasized that this move will enhance market visibility and liquidity for investors. Following the split, shares will total approximately 20,562,993. Stockholder approval was secured on November 19, 2020. No changes to the company's name or ticker symbol will occur.

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Byrna Technologies reported fiscal Q1 2021 results with revenues of $8.9 million, a significant increase from $149,000 in Q1 2020, driven by heightened demand for its Byrna HD personal security device. The gross margin improved to 53.3% from a negative margin the previous year. The company incurred a GAAP net loss of ($272,000), reduced from ($2.3 million) a year prior. For FY 2021, Byrna anticipates revenues between $33 million and $38 million, marking a projected growth of 100%-130%.

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Byrna Technologies Inc. (OTCQB: BYRN) has announced its upcoming fiscal first quarter financial results for the period ending February 28, 2021. The results will be released on April 13, 2021, before the market opens, with a conference call scheduled for 9:00 am ET to discuss these results. Interested parties can join the call by dialing in or via a live webcast available on Byrna's website. The Byrna HD device features a non-lethal alternative for personal security, designed for various markets including law enforcement.

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Byrna Technologies Inc. (OTCQB: BYRN, CSE: BYRN) announced that CEO Bryan Ganz will present at the Zooming with LD Micro event on March 19, 2021, at 11:00 AM ET. Attendees can register for the event here. One-on-one meetings with Mr. Ganz are available by appointment; interested parties should contact their LD Micro institutional sales representative or Fred Buonocore via email. Byrna specializes in innovative non-lethal security solutions, including the Byrna HD personal security device.

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Byrna Technologies Inc. reported substantial growth in Q4 2020, with revenues soaring to $11,029,164 from $500,442 in Q4 2019. The gross margin improved to 44.4% compared to 10.7% last year. Despite a GAAP net loss of $1,641,195, the company achieved its first positive adjusted net income of $220,790. For FY 2021, Byrna expects revenues between $33 million and $38 million. The company aims to leverage increased production capacity and new product launches to meet growing demand for less-lethal self-defense solutions.

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Byrna Technologies Inc. has appointed Luan Pham as the new Chief Marketing Officer effective January 18, 2021. With over 25 years of experience, Pham aims to enhance brand awareness and demand for Byrna's self-defense product, the Byrna HD. Byrna's CEO, Bryan Ganz, highlighted Pham's successful marketing background, including his contribution to Laird Superfood's IPO. The company expects strong financial growth in 2021, driven by increasing demand for its products and a robust marketing strategy leveraging social media and consumer events.

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Byrna Technologies reported substantial revenue growth for Q3 2020, achieving $4,198,157 compared to $307,101 in Q3 2019, marking a $3,891,056 increase. Gross margins improved to 51% from 19%. Loss from operations decreased to $566,358 from $706,153. For the nine months ended August 31, 2020, revenues reached $5,537,141 versus $423,977 in 2019. Byrna's production facility in Fort Wayne, IN is now operational, expected to boost capacity significantly. The company anticipates full-year revenues of $16 – $18 million and a positive net income in Q4 2020.

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Byrna Technologies Inc. has commenced production of its Byrna® HD less-lethal personal security device at a new facility in Fort Wayne, IN. Starting at 200 units daily, production is expected to ramp up to 500 units by mid-November, aiming to clear a backlog of 23,000 units. This facility will accommodate North American needs, while another in South Africa services international orders. As of August 30, 2020, Byrna reports $11.8 million in cash and minimal debt, supporting its growth strategy.

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Byrna Technologies has launched a new global business unit, "Byrna LE," aimed at supplying less-lethal weapons to law enforcement and private security agencies. This initiative comes amid increasing calls for alternatives to lethal force. Byrna's comprehensive training program for law enforcement, including a "Train the Trainer" system, is designed to enhance the usage of the Byrna HD device, which offers effective de-escalation options. The company recently secured a major sale of 1,100 Byrna HD launchers to Hong Kong police, indicating potential growth in international markets.

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FAQ

What is the current stock price of Byrna Technologies (BYRN)?

The current stock price of Byrna Technologies (BYRN) is $27.6 as of January 6, 2025.

What is the market cap of Byrna Technologies (BYRN)?

The market cap of Byrna Technologies (BYRN) is approximately 655.3M.

What products does Byrna Technologies Inc. offer?

Byrna Technologies Inc. offers the Byrna HD, a handheld CO2-powered personal security device, along with less-lethal munitions for military, correctional services, police agencies, and private security markets. The company also provides a range of accessories and third-party compatible products.

What markets does Byrna Technologies Inc. serve?

Byrna Technologies Inc. serves military, correctional services, police agencies, private security, and consumers in the United States, Canada, South Africa, and other international markets.

How has Byrna Technologies Inc. expanded its manufacturing capacity?

Byrna has expanded its manufacturing capacity at its Fort Wayne, Indiana facility by increasing production personnel by 25% and opening a second assembly line, allowing the company to boost its launcher output from 10,000 to 12,500 units per month.

What financial results did Byrna Technologies Inc. report for Q4 2023?

For Q4 2023, Byrna Technologies Inc. reported net revenue of $15.6 million and a gross profit of $9.0 million. The company ended the fiscal year with $20.5 million in cash and cash equivalents and no debt.

Who are some of the celebrity influencers associated with Byrna Technologies Inc.?

Byrna's celebrity influencers include Sean Hannity, Glenn Beck, Bill O'Reilly, and Judge Jeanine Pirro.

What is Byrna Technologies Inc.'s T3 (Train-The-Trainer) program?

The T3 (Train-The-Trainer) program equips officers to effectively teach the use of Byrna's less-lethal launchers, ensuring safe and effective deployment in line with international standards.

What recent achievements has Byrna Technologies Inc. made in international markets?

Byrna recently secured a contract with the Córdoba Provincial Police force in Argentina for 10,000 launchers and committed to having 100% of the force trained with Byrna launchers by the end of 2024.

How has Byrna Technologies Inc. performed in FY 2023?

For FY 2023, Byrna Technologies Inc. reported net revenue of $42.6 million and a gross profit of $23.6 million. The company maintained strong financial stability with no current or long-term debt.

What strategies is Byrna Technologies Inc. implementing to drive sales growth?

Byrna is leveraging its celebrity influencer network and expanding its online advertising strategies. The company is also increasing its production capacity to meet rising demand and exploring new marketing channels, including television advertising.

What is the significance of Byrna Technologies Inc.'s recent manufacturing expansion?

The manufacturing expansion at Byrna's Fort Wayne facility supports the company's efforts to meet growing demand, improve profit margins through economies of scale, and ensure seamless delivery to customers.
Byrna Technologies, Inc.

OTC:BYRN

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655.34M
17.94M
20.84%
43.06%
13.76%
Aerospace & Defense
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