Byrna Technologies Inc. (BYRN) develops, manufactures and sells less-lethal personal security solutions, including Byrna-branded launchers, projectiles and other personal defense tools. Company news centers on revenue results, channel performance and the expansion of direct-to-consumer, dealer, chain-store and brick-and-mortar retail distribution.
Updates also cover product innovation, research and development, marketing and customer-acquisition initiatives, investor presentations and leadership changes. The recurring themes connect Byrna's consumer personal-defense model with manufacturing execution, retail-channel strategy and governance transitions as the company scales its less-lethal security portfolio.
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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 $8.4 million, while gross profit rose 13.7% to $5.2 million, improving gross profit margin to 62.4%. Operating expenses fell 9.8% to $7.2 million. The net loss decreased to $(2.1) million, an improvement from $(3.2) million. Despite these positives, sales fell short due to production delays related to two new products. Byrna expects to fulfill backordered products in Q2. The company holds $14.4 million in cash and no debt.
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 A webcast will also be available on Byrna's website, with an archived version for thirty days.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.