Revenue Growth - Preliminary total revenue for Q4 2024 is expected to be $28.0 million, a 79% increase from $15.6 million in Q4 2023[3] - Full-year revenue for 2024 is projected to be a record $85.8 million, more than doubling the $42.6 million reported in 2023[3] - E-commerce sales increased by $8.9 million year-over-year, accounting for 76% of total sales in Q4 2024[4] - Byrna's international sales rose by $1.0 million year-over-year, including $43,000 in royalty revenue from a new agreement with Byrna LATAM[4] Production and Capacity - Production capacity exceeded 55,000 launchers in Q4 2024, enabling the company to meet growing demand[4] Sales Channels and Strategies - Direct-to-Consumer sales are expected to continue growing, supported by the launch of new Byrna-owned retail stores[6] - The upcoming release of a smaller compact launcher is anticipated to drive further growth in 2025[6] - Black Friday and Cyber Monday sales will be included in Q1 2025 results, with orders already shipped to customers[5] Financial Reporting - The company plans to report full financial results for Q4 and the full year 2024 in February, accompanied by a conference call[8] Market Positioning - Management emphasizes the normalization of less-lethal products as a viable alternative to lethal weapons, indicating strong market potential[6]

Sales and Market Expansion - Byrna Technologies reported that international sales represented 8.0% of revenue in fiscal year 2024, up from 6.8% in fiscal year 2023, indicating a growing interest in Byrna devices among foreign law enforcement customers [30]. - Byrna's marketing strategy includes engaging key influencers and utilizing targeted digital marketing tools, which has led to significant increases in orders and brand recognition [32]. - The company aims to position Byrna as a consumer lifestyle brand, leveraging its brand to expand product lines and increase sales from both new and existing customers [21]. Product Development and Innovation - The company introduced the Byrna LE in 2023, featuring a higher average muzzle velocity of 330 feet per second and an effective range of 60 feet, enhancing its product offerings [22]. - The company has developed a proprietary long-range less lethal projectile for 12-gauge shotguns, introduced in January 2023, showcasing its commitment to innovation [36]. - Byrna's product portfolio includes a range of .68 caliber projectiles, including Byrna Max and Byrna Pepper, designed for effective self-defense applications [27]. - The Byrna SD and LE devices are designed to provide a less-lethal alternative to firearms, with effective ranges significantly greater than traditional self-defense tools [22]. - Byrna Technologies has established the capability to manufacture projectiles in-house, improving quality and availability while reducing dependence on third-party suppliers [35]. Acquisitions and Intellectual Property - Byrna Technologies acquired Fox Labs International in May 2022, enabling continued sales to the law enforcement market while expanding its product line to include defensive pepper sprays [24]. - The company holds numerous issued utility and design patents, with several newly filed provisional patents currently being prosecuted [38]. - The company has acquired one patent and one trademark from Mission Less Lethal, two patents and four trademarks from Ballistipax Holdings Inc., and several trademarks from Fox Labs [38]. Manufacturing and Operations - The company operates two manufacturing facilities, one in Fort Wayne, Indiana, and another in Pretoria, South Africa, with sufficient capacity to meet production needs for at least the next two years [33]. - The manufacture and sale of the company's products are subject to extensive federal, state, and international regulations, which could adversely affect demand and operational costs [40]. - The company is required to maintain several Federal Firearms License (FFL) and Federal Explosive License (FEL) licenses to operate its 40mm products [40]. Competition and Market Challenges - The company faces competition from established manufacturers with strong brand recognition and significant financial resources, necessitating continuous innovation and brand awareness efforts [39]. Employee Relations and Compliance - As of November 30, 2024, the company employed 167 individuals, with no collective bargaining agreements in place and a good employee relations environment [45]. - The company has not experienced any material adverse effects from compliance with environmental laws and regulations [46]. Company History - The company was incorporated in Delaware in 2005 and changed its name to Byrna Technologies Inc. in 2020, with a history of acquisitions and dissolutions of subsidiaries [47].

Core Insights - Byrna Technologies Inc. reported a significant increase in revenues for fiscal year 2024, reaching $85.8 million, which is more than a 100% increase from $42.6 million in fiscal year 2023 [1][9] - The company achieved a net income of $12.8 million for fiscal year 2024, an improvement of $21.0 million from a net loss of $8.2 million in fiscal year 2023 [1][11] - The fourth quarter of fiscal year 2024 saw net revenue of $28.0 million, a 79% increase from $15.6 million in the same quarter of the previous year [3][6] Financial Performance - Gross profit for Q4 2024 was $17.6 million, representing 63% of net revenue, up from $9.0 million (58% of net revenue) in Q4 2023 [4] - Operating expenses for Q4 2024 increased to $13.5 million, a 39% rise from $9.7 million in Q4 2023, driven by higher variable selling costs and increased marketing expenditures [5] - Adjusted EBITDA for Q4 2024 was $5.2 million, compared to $0.4 million in Q4 2023, indicating improved operational efficiency [6][11] Operational Highlights - Byrna surpassed 500,000 launchers sold since its inception in June 2019 and increased production to 24,000 launchers per month to meet market demand [7] - The company opened a new ammunition manufacturing facility in Fort Wayne, Indiana, enhancing domestic production capacity [7] - Byrna's marketing strategy, including a celebrity endorsement program, generated a return on ad spend (ROAS) above 5.0X, contributing to record sales in Q4 2024 [7][13] Strategic Initiatives - The company is focused on expanding its retail presence, with new stores opened in key locations and plans for a store-within-a-store program at Sportsman's Warehouse [15][16] - Byrna aims to transition to a 'Made in America' strategy by sourcing nearly 100% of components from U.S. suppliers by the end of 2025, which is expected to reduce risks associated with foreign suppliers [18] - Internationally, Byrna secured a significant order from the Cordoba Province in Argentina for 1.7 million rounds of payload ammunition, reflecting growing international demand [18][19]

Core Insights - Byrna Technologies Inc. has opened its second company-owned retail store in Franklin, Tennessee, aiming to normalize less-lethal solutions as a mainstream personal safety choice and enhance brand recognition in key markets [1][3] Retail Expansion Strategy - The Nashville store builds on the success of the Las Vegas location, which has an annual run rate exceeding $1 million and gross profit margins over 60% [2] - The Nashville store features an in-store shooting range, allowing customers to experience Byrna's less-lethal launchers firsthand, with expected high conversion rates similar to the Las Vegas store's 80% compared to 1% online [2] - Byrna's retail strategy is a phased approach, with four new locations planned for early 2025, including Fort Wayne, Indiana, Scottsdale, Arizona, and Salem, New Hampshire, to refine operations and marketing strategies [3] Community Engagement and Education - Byrna's retail expansion aims to make less-lethal solutions more accessible and mainstream, fostering personal connections with customers through workshops and in-store events [4] - The grand opening of the Nashville store included local officials and law enforcement representatives, emphasizing Byrna's commitment to community engagement as it expands its physical presence across the U.S. [4]

Core Viewpoint - Byrna Technologies Inc. is expected to report strong earnings growth in its fourth-quarter fiscal 2024 results, with a consensus estimate of 5 cents per share compared to a loss of 2 cents in the same quarter last year, and projected revenues of $28 million, reflecting a year-over-year growth of 79% [2][14]. Earnings Estimates - The Zacks Consensus Estimate for earnings has increased by 11.8% over the past 60 days, with one upward revision and no downward revisions during this period [3][4]. - Byrna has a history of earnings surprises, having exceeded the Zacks Consensus Estimate in all four trailing quarters, with an average surprise of 532.5% [6][7]. Earnings Prediction Model - The current Earnings ESP for Byrna is 0.00%, and it holds a Zacks Rank of 2 (Buy), indicating a lesser chance of an earnings beat this time [8][9]. Brand Visibility and Market Demand - Byrna has achieved significant brand visibility through a successful celebrity endorsement program and extensive media coverage, which has positively impacted consumer and law enforcement demand for its products [10][11]. Stock Performance - Byrna's stock price has increased by 235% over the past year, significantly outperforming the broader industry growth of 72% and contrasting with declines in other small-cap service providers [12]. Financial Performance - The company reported a remarkable 194% year-over-year sales growth in the last quarter, with net income improving from a loss of $4.1 million to a profit of $1.0 million, marking a $5.1 million increase [14]. - Byrna's return on equity (ROE) stands at 10.4%, surpassing the industry average of 9.1%, indicating strong profitability and efficient use of equity [15]. Strategic Initiatives - Byrna is expanding its market reach by collaborating with Mexico's Secretaría de Trabajo y Previsión Social to establish a federally certified training program for civilians to carry Byrna devices, and is enhancing its supply chain by shifting ammunition production domestically [16]. - The company is focused on growth investments while remaining debt-free and highly profitable, positioning itself for sustained success through 2025 and beyond [14][16]. Investment Considerations - Byrna is viewed as a compelling growth investment due to its strong brand momentum, expanding market presence, and strategic partnerships, which align with market trends [17][18].

Core Insights - Byrna Technologies Inc. has announced a partnership with the United States Concealed Carry Association (USCCA) to promote its less-lethal personal security solutions to nearly one million USCCA members [1][3] Company Overview - Byrna Technologies specializes in the development, manufacture, and sale of innovative less-lethal personal security solutions, including the Byrna SD personal security device, which is a CO2 powered launcher designed as an alternative to firearms [4] Partnership Details - The collaboration with USCCA will allow Byrna to reach responsible gun owners, a key demographic, and promote its products alongside USCCA's self-defense training and liability insurance offerings [3] - USCCA Chairman Tim Schmidt emphasized Byrna's leadership in the less-lethal market and the importance of showcasing their products as viable self-defense options [3]

Core Viewpoint - Byrna Technologies Inc. will hold a conference call on February 7, 2025, to discuss its financial results for the fiscal fourth quarter and full year ended November 30, 2024 [1] Group 1: Conference Call Details - The conference call is scheduled for February 7, 2025, at 9:00 a.m. Eastern time [2] - Participants can join the call using a toll-free number or an international dial-in number, with a conference ID provided [2] - The call will be broadcast live and available for replay on Byrna's website [3] Group 2: Company Overview - Byrna Technologies specializes in developing, manufacturing, and selling innovative less-lethal personal security solutions [4] - The company produces the Byrna® SD personal security device, which is a handheld CO2 powered launcher designed as a less-lethal alternative to firearms [4]

ANDOVER, Mass., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced its participation in the 2025 SHOT Show, hosted by the National Shooting Sports Foundation (NSSF). The event will take place January 21-24, 2025, at The Venetian Expo and Caesars Forum in Las Vegas. Byrna will exhibit its less-leth ...

ANDOVER, Mass., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, is donating 10% of proceeds from all purchases made on Byrna.com through January 21, 2025, to support recovery efforts for victims of the devastating Los Angeles wildfires. The funds will be distributed equally among four trusted organizations pro ...

Have you been paying attention to shares of Byrna Technologies Inc. (BYRN) ? Shares have been on the move with the stock up 55.5% over the past month. The stock hit a new 52-week high of $31.32 in the previous session. Byrna Technologies Inc. has gained 370.4% since the start of the year compared to the 22% move for the Zacks Business Services sector and the 55.3% return for the Zacks Technology Services industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surpr ...