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.
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.
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.
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.
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.
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.
Byrna Technologies Inc. (NASDAQ: BYRN) reported preliminary revenues of $11.5 million for Q2 2022, totaling $19.5 million for the first half of FY 2022. The company reaffirms full-year revenue guidance of $55-$60 million and has experienced growth across all sales channels, notably with $5.4 million from Byrna.com. Q2 production reached 42,892 launchers, with 19,500 in inventory, supporting expectations for strong sales in the second half of 2022. The company highlights significant increases in e-commerce sales, with orders on Byrna.com up 79% compared to Q2 2021.
Byrna Technologies has acquired assets from Fox Labs International for $2.17 million. Fox Labs, with over 30 years in the pepper spray market, primarily serves law enforcement. This acquisition allows Byrna to expand its product range into defensive sprays, leveraging Fox's established brand and customer base. Byrna aims to develop its own line of self-defense sprays under the ‘Byrna Bad Guy Repellent’ brand, targeting both law enforcement and civilian markets. The company hired industry veteran David Happe to lead the new division, enhancing growth opportunities.