Company Performance - Byrna Technologies reported quarterly earnings of $0.13 per share, surpassing the Zacks Consensus Estimate of a loss of $0.01 per share, and compared to earnings of $0.03 per share a year ago [6] - The company posted revenues of $20.27 million for the quarter ended May 2024, slightly missing the Zacks Consensus Estimate by 0.10%, but showing a significant increase from $11.51 million in the same quarter last year [2] - Byrna Technologies has exceeded consensus EPS estimates three times over the last four quarters [7] Stock Performance - Byrna Technologies shares have increased approximately 61.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 16.8% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for continued outperformance in the near future [4] Industry Outlook - The Technology Services industry, to which Byrna Technologies belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [11] - The upcoming earnings report for VerifyMe, Inc. is anticipated, with expected revenues of $5.71 million, reflecting a 6.9% increase from the previous year [12]

Financial Performance - For the three months ended May 31, 2024, the company recorded a net income of $2.077 million, compared to a net loss of $1.116 million for the same period in 2023[104] - The net income per share - diluted for the three months ended May 31, 2024, was $0.09, compared to a loss of $(0.05) for the same period in 2023[104] - The company reported a net loss of $(3.269) million for the six months ended May 31, 2023, while for the same period in 2024, it recorded a net income of $2.094 million[104] - Net income for the first half of 2024 was $2.1 million, an improvement of $5.4 million compared to a net loss of $3.3 million for the first half of 2023[185] - Total revenue for the six months ended May 31, 2024, was $36.9 million, an increase of 85.3% compared to $19.9 million for the same period in 2023[115] Shareholder Information - The weighted-average common shares outstanding for diluted earnings per share (EPS) for the three months ended May 31, 2024, was 23,731,076, an increase from 21,866,260 in the same period of 2023[104] - The weighted-average common shares outstanding for basic EPS for the six months ended May 31, 2024, was 22,383,769, compared to 21,863,263 for the same period in 2023[104] Operating Expenses - Operating expenses increased to $20.5 million in the first half of 2024, up $6.0 million from $14.4 million in the prior year, driven by higher marketing and employee compensation costs[183] Cash Flow and Liquidity - Cash and cash equivalents as of May 31, 2024, totaled $24.8 million, an increase of $4.3 million from $20.5 million as of November 30, 2023[189] - Cash provided by operating activities was $5.9 million for the six months ended May 31, 2024, compared to cash used in operations of $2.4 million during the prior year period[190] - Cash used in investing activities was $0.7 million for the six months ended May 31, 2024, down from $2.2 million in the prior year[191] - Cash used in financing activities was $0.9 million for the six months ended May 31, 2024, primarily due to stock repurchases and taxes paid on restricted stock units[192] Inventory and Adjusted EBITDA - Inventory increased by $1.6 million during the six months ended May 31, 2024, compared to an increase of $2.7 million for the same period in 2023[190] - Adjusted EBITDA for the first half of 2024 was $4.1 million, compared to a loss of $3.0 million in the first half of 2023[188] Legal and Regulatory Matters - The Company is involved in various legal proceedings, but any potential liability is not expected to have a material adverse effect on its business or financial condition[199] - There were no significant updates regarding insider trading arrangements or changes in officer appointments[200] Accounting Standards - The company adopted ASU 2016-13 on December 1, 2023, which did not have a material impact on its financial statements[76] - The company is evaluating the effect of ASU 2023-07 on its financial statements and believes it will not have a material impact[77] Lease and Sublease Arrangements - The company has a lease for office and warehouse space in South Africa that expires in December 2024[87] - The company subleases office premises at its Massachusetts headquarters to a corporation owned by the CEO, with nominal payments received for the three and six months ended May 31, 2024, and 2023[85] Compensation and Expenses - The company terminated royalty payments to the former CTO in December 2021, resulting in $0.5 million in accelerated stock compensation expense during the fiscal year ended November 30, 2023[106] Foreign Currency Impact - The company recorded a foreign currency translation loss of $0.3 million during the first half of 2024, compared to a loss of $0.2 million in the first half of 2023[184]

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, July 2nd: Byrna Technologies Inc. (BYRN) : This non-lethal defense technology company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.1% over the last 60 days. Byrna's shares gained 56.2% over the last six months compared with the S&P 500's advance of 16.4%. The company possesses a Momentum Score of A. Costamare Inc. (CMRE) : This operator of cont ...

Company Overview - Byrna Technologies Inc. specializes in the development, manufacture, and sale of innovative less-lethal personal security solutions, including the Byrna® SD personal security device [15][13] - The company has successfully transitioned its advertising strategy to a celebrity endorsement model, which has contributed to growth in sales and customer base [7] Industry Context - The Russell 3000® Index includes the 4,000 largest US stocks ranked by total market capitalization, and membership is determined by objective market-capitalization rankings and style attributes [1] - Russell indexes serve as benchmarks for approximately $10.5 trillion in assets as of December 2023, making them widely used by investment managers and institutional investors [14] Recent Developments - Byrna Technologies has been added to the Russell 3000® Index following the annual reconstitution that took effect after the U.S. market closed on June 28, 2024 [13] - The inclusion in the Russell 3000® Index is expected to enhance Byrna's exposure to the broader investment community, potentially delivering long-term value to shareholders [7][13] FTSE Russell Overview - FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, employing a transparent rules-based methodology [4][9] - The company fully embraces the IOSCO Principles and has received independent assurance for its Statement of Compliance [4]

ANDOVER, Mass., July 01, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. ("Byrna" or the "Company") (Nasdaq: BYRN), a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced that it has been added to the broad-market Russell 3000® Index. The inclusion followed the annual reconstitution of the Russell indexes, which took effect after the U.S. market closed on June 28, 2024. The annual Russell indexes reconstitution capt ...

Core Viewpoint - Byrna Technologies Inc. has appointed Lauri Kearnes as the new Chief Financial Officer, effective July 15, 2024, to ensure continued growth and financial performance of the company [1][9]. Company Overview - Byrna Technologies specializes in developing, manufacturing, and selling innovative less-lethal personal security solutions, including the Byrna® SD personal security device [7]. Leadership Transition - Lauri Kearnes will replace David North, who is retiring on July 15, 2024, but will remain as an outside consultant to aid in the transition [1][3]. - Kearnes has over 20 years of experience in financial and operational leadership, previously serving as CFO for Harte Hanks, overseeing a business with over $200 million in annual revenues [8][9]. Kearnes' Background - Kearnes holds both undergraduate and master's degrees in accounting from Utah State University [2]. - Her previous roles include Corporate Controller and VP of Finance at various companies, providing her with extensive experience in financial operations and market dynamics [6][8]. Future Outlook - Kearnes expressed enthusiasm about leveraging her background to drive Byrna's growth, especially in light of the company's recent revenue growth and production capability expansion [7]. - CEO Bryan Ganz highlighted Kearnes' expertise in financial strategy and leadership as crucial for Byrna's continued scaling and innovation [9].

ANDOVER, Mass., June 24, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. ("Byrna" or the "Company") (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, has appointed Lauri Kearnes as Chief Financial Officer ("CFO"), effective July 15, 2024. Kearnes is already working with the Company to ensure a smooth transition. "Lauri's deep expertise in financial strategy, coupled with her strong leadership skills and extens ...

Here is How to Spot Oversold Stocks quest for reaching the old equilibrium of supply and demand. We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30. Technically, every stock oscillates between being overbought and oversold irrespecti ...

Investors might want to bet on Byrna Technologies Inc. (BYRN) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. As such, the Zacks rating upgrade for Byrna Technologies is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. Harnessing the Power of Earnings Estimate Revisions Earnings Estimate R ...

| --- | --- | --- | --- | --- | --- | |-------------------------------------------------|---------------|----------|---------------|---------|---------------------------------------| | Sales Channel ($ in 000s) \nByrna.com | Q2 2024 \n$ | \n11,379 | Q2 2023 \n$ | \n5,758 | % Increase / (Decrease) \n97.6% | | Amazon | $ | 3,214 | $ | 1,082 | 197.0% | | Dealer/Distributor | $ | 3,447 | $ | 2,785 | 23.8% | | Fox Labs | $ | 386 | $ | 272 | 41.9% | | Canada | $ | 555 | $ | 336 | 65.2% | | Mexico | $ | 88 | $ | 1 ...