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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. (NASDAQ: BYRN) announced it will release its financial results for the second quarter ended August 31, 2022, on October 5, 2022, before market open. A conference call is scheduled for 9:00 am ET to discuss the results. The company specializes in developing non-lethal personal security solutions, including the Byrna SD personal security device. Interested parties can access the call by phone or via a webcast on Byrna's website. The results will be available for thirty days post-call.

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Byrna Technologies Inc. (NASDAQ: BYRN) announced preliminary Q3 FY2022 revenues of $12.4 million, reflecting a 43% increase from $8.7 million in Q3 FY2021. Year-to-date sales reached $32 million. However, the company revised its Q4 FY2022 revenue guidance to between $16 million and $18 million, citing signs of a softening economy and anticipated decreased demand for discretionary goods. Byrna's full year revenue guidance is now set between $48 million and $50 million. Notably, sales on Amazon surged 3,500% year-over-year.

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Byrna Technologies Inc. (NASDAQ: BYRN) has announced a partnership with Argentine firearms manufacturer Bersa SA to distribute its less-lethal self-defense products across South America. This collaboration provides Byrna with immediate access to Bersa's established network of police agencies and dealers. In Argentina, where firearm ownership is heavily regulated, Byrna's products present a viable alternative. With around 5 million firearm owners and strict carry permit limitations, the demand for non-lethal options is significant. Both companies anticipate substantial sales potential in this market.

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Byrna Technologies Inc. (NASDAQ: BYRN) has reiterated its full-year revenue guidance of $55 - $60 Million. The company clarified previous communications regarding the sale of its 40 millimeter blunt impact projectile (40 MM BIP) business, which saw total revenues of $43 thousand in fiscal year 2021 and $0 year-to-date in fiscal year 2022. Despite the clarification, Byrna emphasizes the potential risks associated with their forward-looking statements, including factors that may disrupt expected revenues and product demand.

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Byrna Technologies Inc. (NASDAQ: BYRN) has sold its 40mm legacy business's IP and tooling to Facta Global, retaining exclusive rights to sell the product in the U.S. and South Africa. The deal includes cash and future royalties. Following production issues at its contract manufacturer, Byrna aims to resume supplying the 40mm BIP to U.S. law enforcement as early as July. The partnership with Facta Global, which has extensive experience in law enforcement training and is Byrna's long-time distributor, positions both companies for growth in the less-lethal product market.

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Byrna Technologies (NASDAQ: BYRN) reported Q2FY22 revenues of $11.6 million, down 13.3% from $13.4 million in Q2FY21. The company experienced a net loss of $(3.0) million compared to a net income of $2.0 million in the same quarter last year. Gross margin decreased to 52.7% from 56.4%, attributed to higher freight costs and a rise in lower-margin international sales. Byrna reiterated its full-year revenue guidance of $55 - $60 million, aiming for growth through new product launches and market expansion, including the recent acquisition of Fox Labs International.

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Byrna Technologies Inc. (NASDAQ: BYRN) has announced a collaboration with Christine Chiu, star of the Netflix series 'Bling Empire,' to promote its non-lethal self-defense products. Through her extensive social media platforms, Chiu aims to raise awareness of Byrna's personal security devices, including the Byrna SD, designed to incapacitate attackers safely. Byrna's Chief Marketing Officer expressed enthusiasm about the partnership, emphasizing the importance of self-defense in today's climate. The Byrna 'Un-Gun' is a portable device shooting irritant projectiles, allowing for effective protection without permanent harm.

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Byrna Technologies Inc. (NASDAQ: BYRN) announced a collaboration with Christine Chiu, star of Netflix's 'Bling Empire,' to promote its non-lethal self-defense products. Chiu will utilize her social media platforms to raise awareness about Byrna's personal security devices, including the Byrna SD. The partnership highlights Byrna's 'Live Safe' philosophy, emphasizing the importance of self-defense preparedness. The Byrna SD, which incapacitate attackers without causing permanent harm, is gaining popularity among various supporters, including celebrities and everyday civilians.

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Byrna Technologies Inc. (NASDAQ: BYRN) will release its fiscal second quarter financial results for the period ending May 31, 2022, on July 7, 2022, prior to market opening. A conference call is scheduled for the same day at 9:00 am ET to discuss these results. Interested parties can listen via phone or register for a webcast. Following the call, the webcast will be available for 30 days on Byrna's website.

Byrna specializes in non-lethal personal security solutions, including the Byrna® HD device designed for various markets.

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On June 17, 2022, Byrna Technologies reported a successful deployment of its Byrna SD less-lethal launchers by the Galveston Police during a high-risk vehicle stop. The incident involved a hit-and-run driver who caused serious injury to a bicyclist. After a brief chase, officers utilized the Byrna SD, resulting in the driver's surrender without further violence. This case highlights the effectiveness of Byrna's products in law enforcement scenarios, emphasizing their non-lethal capabilities to address potentially dangerous situations.

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FAQ

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

The current stock price of Byrna Technologies (BYRN) is $29.56 as of December 20, 2024.

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

The market cap of Byrna Technologies (BYRN) is approximately 624.7M.

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.

Nasdaq:BYRN

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BYRN Stock Data

624.69M
17.94M
20.84%
43.08%
12.21%
Aerospace & Defense
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