Core Insights - Byrna Technologies Inc. reported a significant increase in revenues for fiscal year 2024, reaching 42.6 million in fiscal year 2023 [1][9] - The company achieved a net income of 21.0 million from a net loss of 28.0 million, a 79% increase from 17.6 million, representing 63% of net revenue, up from 13.5 million, a 39% rise from 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]
Byrna Technologies Reports Record Results for Fiscal Fourth Quarter and Full Year 2024