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 Inc. (NASDAQ: BYRN) reported its financial results for the first quarter of fiscal year 2023, ending February 28, 2023. Revenue increased 5.4% year-over-year to
Byrna Technologies Inc. (NASDAQ: BYRN) will release its fiscal Q1 2023 financial results on April 14, 2023, before market opening. The announcement will include a conference call at 9:00 am ET for an in-depth review of the results. Interested parties can join the call by dialing (201) 689-8354 or (877) 709-8150 and should call in ten minutes early. A webcast will also be available on Byrna's website, with an archived version for thirty days. Byrna specializes in innovative non-lethal personal security solutions, including the Byrna® SD device.
Byrna Technologies reported significant growth in Q4 FY22, with revenues increasing 43.5% to $16.0 million and gross profit rising 52.0% to $8.7 million. For the full year FY22, revenues reached $48.0 million, a 13.8% increase over FY21. However, the net loss rose to $(7.9) million from $(3.3) million in FY21. Byrna forecasts revenues of $55 to $60 million for FY23, expecting a growth rate of approximately 20%. This cautious outlook accounts for economic challenges and new product launches. Despite these challenges, Byrna anticipates profitability on an adjusted EBITDA basis and aims to begin production in its new facility in Argentina.
Byrna Technologies Inc. (NASDAQ: BYRN) announced it will release its fiscal fourth quarter financial results for the period ending November 30, 2022, on February 9, 2023, before market open. A conference call will follow at 9:00 am ET that day to discuss the results. Interested participants can join by phone or access a webcast via the company’s website. Byrna specializes in non-lethal personal security solutions, including the Byrna SD personal security device. This upcoming earnings release is key for investors assessing the company’s performance.
Byrna Technologies Inc. (NASDAQ: BYRN) has announced the establishment of a new subsidiary, Byrna LATAM, based in Montevideo, Uruguay, responsible for the manufacture and distribution of Byrna products in Latin America. The joint venture, with an initial investment of $4.1 million, aims to capitalize on the growing demand for non-lethal self-defense options amid rising civil unrest. Manufacturing operations will begin in Buenos Aires, Argentina, enabling Byrna to reduce costs significantly within the Mercosur free-trade zone. The company's CEO emphasizes the potential for market expansion in a region with a strong demand for personal security solutions.
Byrna Technologies announced preliminary revenue expectations of $16.0 million for Q4 FY2022, a 43% increase from $11.2 million in Q4 FY2021. This marks the second consecutive quarter of 43% year-over-year growth. Full-year revenue for FY2022 is projected at $48.0 million, reflecting a 14% increase. Key sales channels include Byrna.com ($7.4 million) and Amazon ($1.8 million). Management highlights strong demand during the holiday season, although average order value decreased. New product launches, including the Byrna LE launcher, are scheduled for the SHOT Show in January.
Byrna Technologies Inc. reported Q3 FY2022 revenues of $12.4 million, a 43% increase year-over-year, marking the third consecutive quarter of growth. The company achieved a gross margin of 55.4% despite a net loss of $(1.5 million) compared to $(1.8 million) in Q3 FY2021. Byrna expects Q4 FY2022 revenues to range between $16.0 million and $18.0 million, indicating 52% growth at midpoint. However, anticipated economic challenges may temper 2023 growth to 10%-30% compared to higher rates in previous quarters. Operating costs will be trimmed by $1.6 million in 2023.
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?
