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. (OTCQB: BYRN) has received approval to list its common stock on the Nasdaq Capital Market, starting May 5, 2021, under the symbol 'BYRN.' This transition from OTCQB is anticipated to enhance the Company's public profile and shareholder base, as stated by CEO Bryan Ganz. Byrna's flagship product, the Byrna® HD, is positioned as a key player in the non-lethal personal security market, reflecting significant sales growth. The Company remains optimistic about its prospects and has the resources to support continued expansion.
On April 23, 2021, Byrna Technologies Inc. (OTCQB: BYRN) announced a reverse stock split of one post-consolidation share for every ten pre-consolidation shares, effective April 27, 2021. This consolidation aims to meet national exchange listing requirements. The CEO emphasized that this move will enhance market visibility and liquidity for investors. Following the split, shares will total approximately 20,562,993. Stockholder approval was secured on November 19, 2020. No changes to the company's name or ticker symbol will occur.
Byrna Technologies reported fiscal Q1 2021 results with revenues of $8.9 million, a significant increase from $149,000 in Q1 2020, driven by heightened demand for its Byrna HD personal security device. The gross margin improved to 53.3% from a negative margin the previous year. The company incurred a GAAP net loss of ($272,000), reduced from ($2.3 million) a year prior. For FY 2021, Byrna anticipates revenues between $33 million and $38 million, marking a projected growth of 100%-130%.
Byrna Technologies Inc. (OTCQB: BYRN) has announced its upcoming fiscal first quarter financial results for the period ending February 28, 2021. The results will be released on April 13, 2021, before the market opens, with a conference call scheduled for 9:00 am ET to discuss these results. Interested parties can join the call by dialing in or via a live webcast available on Byrna's website. The Byrna HD device features a non-lethal alternative for personal security, designed for various markets including law enforcement.
Byrna Technologies Inc. (OTCQB: BYRN, CSE: BYRN) announced that CEO Bryan Ganz will present at the Zooming with LD Micro event on March 19, 2021, at 11:00 AM ET. Attendees can register for the event here. One-on-one meetings with Mr. Ganz are available by appointment; interested parties should contact their LD Micro institutional sales representative or Fred Buonocore via email. Byrna specializes in innovative non-lethal security solutions, including the Byrna HD personal security device.
Byrna Technologies Inc. reported substantial growth in Q4 2020, with revenues soaring to $11,029,164 from $500,442 in Q4 2019. The gross margin improved to 44.4% compared to 10.7% last year. Despite a GAAP net loss of $1,641,195, the company achieved its first positive adjusted net income of $220,790. For FY 2021, Byrna expects revenues between $33 million and $38 million. The company aims to leverage increased production capacity and new product launches to meet growing demand for less-lethal self-defense solutions.
Byrna Technologies Inc. has appointed Luan Pham as the new Chief Marketing Officer effective January 18, 2021. With over 25 years of experience, Pham aims to enhance brand awareness and demand for Byrna's self-defense product, the Byrna HD. Byrna's CEO, Bryan Ganz, highlighted Pham's successful marketing background, including his contribution to Laird Superfood's IPO. The company expects strong financial growth in 2021, driven by increasing demand for its products and a robust marketing strategy leveraging social media and consumer events.
Byrna Technologies reported substantial revenue growth for Q3 2020, achieving $4,198,157 compared to $307,101 in Q3 2019, marking a $3,891,056 increase. Gross margins improved to 51% from 19%. Loss from operations decreased to $566,358 from $706,153. For the nine months ended August 31, 2020, revenues reached $5,537,141 versus $423,977 in 2019. Byrna's production facility in Fort Wayne, IN is now operational, expected to boost capacity significantly. The company anticipates full-year revenues of $16 – $18 million and a positive net income in Q4 2020.
Byrna Technologies Inc. has commenced production of its Byrna® HD less-lethal personal security device at a new facility in Fort Wayne, IN. Starting at 200 units daily, production is expected to ramp up to 500 units by mid-November, aiming to clear a backlog of 23,000 units. This facility will accommodate North American needs, while another in South Africa services international orders. As of August 30, 2020, Byrna reports $11.8 million in cash and minimal debt, supporting its growth strategy.
Byrna Technologies has launched a new global business unit, "Byrna LE," aimed at supplying less-lethal weapons to law enforcement and private security agencies. This initiative comes amid increasing calls for alternatives to lethal force. Byrna's comprehensive training program for law enforcement, including a "Train the Trainer" system, is designed to enhance the usage of the Byrna HD device, which offers effective de-escalation options. The company recently secured a major sale of 1,100 Byrna HD launchers to Hong Kong police, indicating potential growth in international markets.