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.
Byrna Technologies Inc. (NASDAQ: BYRN) reported preliminary revenues of $11.2 million for Q4 2021, totaling $42.2 million for FY 2021, exceeding previous guidance by $2.2 million. This marks a 150% revenue increase from FY 2020. Looking ahead, Byrna anticipates FY 2022 revenues between $60 million and $65 million. Additionally, the company announced a $30 million share repurchase program, indicating confidence in its financial position and growth prospects, while overcoming supply chain challenges.
Byrna Technologies Inc. (NASDAQ: BYRN) announced the purchase approval of 200 Tactical Compact Rifles (TCR) and 39,000 rounds of ammunition by the Spokane County Sheriff's Office, totaling over $200,000. This decision follows new Washington legislation mandating less-lethal options for law enforcement. Byrna held a training session for 19 officers to enable them to train others in using the TCR. The Sheriff's Office plans to deploy these launchers in January 2022. In FY 2021, Byrna's law enforcement sales reached $500,000.
Byrna Technologies (NASDAQ: BYRN) announced that CEO Bryan Ganz will host a virtual fireside chat at the Raymond James Technology Investors Conference on December 8, 2021, at 8:50 am ET. A live webcast and replay will be accessible on their investor relations website. Byrna specializes in innovative non-lethal personal security solutions, including the Byrna® HD device, aimed at consumers, private security, and law enforcement. For more details, visit ir.byrna.com.
Byrna Technologies Inc. (NASDAQ: BYRN) will have its CEO, Bryan Ganz, present at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 9:30 am ET. This one-day event will showcase around 50 technology companies, covering various sectors such as cybersecurity, AI, and public safety. Investors can register to watch the presentation and request one-on-one meetings via the event website. A replay of the webcast will also be available on the company's investor relations site.
Byrna Technologies reported impressive Q3 FY21 results, with revenues increasing by 107.3% to $8.7 million and gross profit rising 129.6% to $4.9 million. Gross margins improved to 56.2%, up from 50.7% year-over-year. Despite a net loss of $(1.8 million), the company boasts strong cash reserves of $58.4 million as of August 31, 2021. Byrna plans to expand its product line and sales channels, including a dedicated Amazon store, which shows promising growth in traffic. The FY2021 revenue guidance remains between $40-$42 million, marking a projected 146% increase.
Byrna Technologies Inc. (NASDAQ: BYRN) is offering a special pink product bundle during Breast Cancer Awareness Month, which includes a pink Byrna™ SD launcher, a three-year warranty, and a 130dB personal safety alarm for $438.99. The company will donate $30 from each sale to Susan G. Komen®, a leading breast cancer organization, to support their mission of saving lives and funding research. CEO Bryan Ganz highlighted Byrna's commitment to safety solutions and personal experiences with breast cancer as motivations for this partnership.
Byrna Technologies Inc. (NASDAQ: BYRN) announced it will release its fiscal third quarter financial results for the period ending August 31, 2021, on October 8, 2021. The release will occur before market opening, followed by a conference call at 9:00 am ET for management to review the results. Interested parties can participate by calling (201) 493-6744 or (877) 445-9755, or by accessing a live webcast on Byrna's investor relations website.
Byrna Technologies (NASDAQ: BYRN) announced preliminary revenue for Q3 2021, expecting around $8.7 million, a 107% increase from $4.2 million in Q3 2020. This growth is attributed to higher e-commerce sales, increased dealer sales, and sales to law enforcement. Byrna also raised its full year revenue guidance to $40-$42 million, up from $38-$41 million, reflecting approximately 146% growth year-over-year. However, gross profit margins are expected to moderate due to increased dealer sales, with anticipated recovery due to upcoming high-margin product launches.
Byrna Technologies Inc. (NASDAQ: BYRN) will host an Analyst Day on September 9, 2021, starting at 10:00 am EST. The event will last approximately two hours and is designed to detail the company's recent growth initiatives in the personal safety market. Participants can access the event through a live webcast available on Byrna's investor relations website. A Q&A session will follow, with questions submitted in advance to iportner@equityny.com.
Byrna Technologies Inc. (Nasdaq: BYRN) has appointed Mike Gillespie as Chief Operating Officer (COO), effective August 23, 2021. Gillespie, with over 30 years in manufacturing operations, will enhance Byrna's global operations, focusing on product quality, cost reduction, and improved customer satisfaction. CEO Bryan Ganz expressed confidence in Gillespie's ability to drive operational efficiencies and shareholder value. This organizational change allows Ganz to concentrate on strategic initiatives like acquisitions and partnerships, aiming for continued growth in the non-lethal technology market.