Byrna Technologies Inc Stock Price, News & Analysis

Byrna Technologies Inc. announced that the Harris County Sheriff's Department selected its TCR .68 caliber launchers for use in the Harris County Jail. This decision follows a rigorous evaluation of less-lethal weapons systems. The TCR is designed to propel chemical projectiles efficiently, allowing deputies to respond swiftly to non-lethal threats. Byrna's products have recently been adopted by several other law enforcement and security agencies, enhancing their non-lethal response capabilities. CEO Bryan Ganz expressed optimism about continued adoption across police departments nationwide.

Byrna Technologies Inc. (NASDAQ: BYRN) announced that Coastal Farm and Ranch has begun carrying its SD XL product line across 20 store locations in Oregon and Washington. The SD XL device, designed for self-defense and recreation, can shoot up to 30 rounds at 300 feet per second, effective up to 60 feet. This expansion demonstrates Byrna's growth strategy and partnership with Big Rock Sports and Maschmedt and Associates. Customers now have more access to Byrna's innovative non-lethal personal security solutions.

Byrna Technologies has partnered with Sports Inc., the largest sporting goods buying group in the U.S., to provide its full range of products to over 500 independent retailers. This strategic collaboration was formalized in May 2022 after Byrna's successful product presentation at a vendor event, where it secured $32,000 in initial orders. This partnership enhances Byrna's market penetration in independent retail, with guaranteed payment terms, reducing credit risk. Byrna continues to leverage its sales team to offer training and demonstrations at retail locations nationwide.

Byrna Technologies Inc. (NASDAQ: BYRN) has selected Outdoor Investment Holdings (OIH) as its exclusive distribution partner for the South African consumer market. OIH will distribute Byrna's range of less-lethal launchers and ammunition through its subsidiaries, Formalito and Inyathi Sporting Supplies, which service over 1,000 retail locations. Under the agreement, OIH will purchase a minimum of 15,000 Byrna launchers in the first year, with an initial order of 6,000. This partnership aims to expand Byrna's presence in South Africa while providing consumers access to premium non-lethal self-defense products.

Byrna Technologies Inc. (Nasdaq: BYRN) announced the appointment of Brian Terando as Vice President of Production and Supply Chain, succeeding Mike Gillespie, who is retiring at the end of May. Terando brings over 30 years of experience in operations, supply chain, and engineering, emphasizing Lean Continuous Improvement. He will take over Gillespie's responsibilities and will ensure a smooth transition until August.

The company acknowledges Gillespie's contributions in establishing the new Ft. Wayne production facility on time and under budget.

Byrna Technologies Inc. (NASDAQ: BYRN) has opened a new manufacturing facility in Fort Wayne, significantly increasing production capacity for its Tactical Compact Rifle (TCR). The 30,000 square-foot facility can produce up to 600,000 launchers annually, doubling the existing capacity. The TCR, designed for home defense, features rapid firing capabilities and enhanced accuracy. It will retail for $749, targeting both consumers and law enforcement. This expansion marks a pivotal step in Byrna's growth strategy, allowing for increased inventory and improved quality control.

Byrna Technologies (NASDAQ: BYRN) reported Q1 FY22 revenues of $8.0 million, a 10.3% decline from $8.9 million in Q1 FY21. Orders received rose 45.6% to $8.9 million, indicating strong demand despite supply chain disruptions. Gross profit decreased slightly to $4.6 million, with a margin improvement to 57.8%. Operating expenses increased to $8.0 million due to corporate growth investments. Byrna reiterates its full-year revenue guidance of $55-$60 million and expects to achieve positive adjusted EBITDA by Q3 FY22.

Byrna Technologies Inc. (NASDAQ: BYRN) announced the launch of its self-defense products at Sportsman's Warehouse and SCHEELS, extending its retail footprint across 139 locations. Sportsman's Warehouse will feature Byrna products in all its 122 stores in 29 states and online, anticipating 7-10 new store openings in 2022. SCHEELS, an employee-owned retailer, will carry Byrna in 17 of its 31 locations across 14 states. CEO Bryan Ganz expressed confidence in these partnerships, emphasizing their alignment with Byrna's customer-first approach.