Byrna.com Sessions Averaged More than 50,000 per Day During First 21 Days of August, the Highest Level in Company History Byrna’s “We Don’t Sell Bananas” AI-Created Commercial Surpasses 66 Million Views ANDOVER, Mass., Aug. 25, 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 that its new proprietary AI- ...

Core Insights - Byrna Technologies Inc. reported a record revenue of $28.5 million for Q2 2025, representing a 41% year-over-year growth from $20.3 million in Q2 2024, driven by the launch of the Compact Launcher (CL) and a 106% increase in dealer sales due to a partnership with Sportsman's Warehouse [1][3][9] Financial Performance - Net revenue for Q2 2025 was $28.5 million, up from $20.3 million in Q2 2024, marking a 41% increase [3] - Gross profit increased to $17.6 million, maintaining a gross margin of 62%, compared to $12.6 million in Q2 2024 [4] - Operating expenses rose to $14.2 million from $10.6 million in Q2 2024, primarily due to higher selling expenses and marketing costs [5] - Net income for Q2 2025 was $2.4 million, an increase from $2.1 million in Q2 2024 [5] - Adjusted EBITDA for Q2 2025 was $4.3 million, compared to $2.8 million in Q2 2024 [6] Cash and Inventory Management - Cash, cash equivalents, and marketable securities totaled $13.0 million as of May 31, 2025, down from $25.7 million at November 30, 2024, due to increased inventory ahead of the CL release [7] - Inventory at May 31, 2025, was $32.3 million, up from $20.0 million at November 30, 2024 [7] Operational Highlights - The launch of the Byrna CL in May contributed significantly to revenue growth, with expectations for it to become a larger part of the sales mix [8][14] - Dealer sales increased by 106% in Q2 2025, supported by the partnership with Sportsman's Warehouse, with plans to expand store-within-a-store locations [9][10] - Company-owned retail locations averaged $69,000 in sales during May, with the Scottsdale location performing exceptionally well shortly after opening [11] Marketing and Brand Expansion - The company has diversified its marketing strategy, including the addition of celebrity influencer Tucker Carlson to enhance brand awareness [12] - Integration of AI tools into content production is expected to improve marketing reach and efficiency [12] Production Adjustments - Production has been adjusted to align with current demand following the CL launch, with a steady output of 15,000 units per month [13]

Company Overview - Byrna has sold over 500,000 launchers in the last 5 years[18] - The company has over 500 dealer locations[18] - Byrna has 180 US employees[18] Market Opportunity - The US consumer market presents a total addressable market of $250 billion, divided between gun owners ($100 billion) and non-gun owners ($150 billion)[22] - The company is targeting a penetration of 5% of non-gun owners and 10% of gun owners, representing a potential market of approximately $17.5 billion[22] - The company has 285,000 unique e-commerce customers[20] Financial Performance - The company's revenue increased from $42.644 million in 2023 to $85.756 million in 2024[45] - Gross profit increased from $23.647 million in 2023 to $52.772 million in 2024[45] - The company achieved net income of $12.792 million in 2024, compared to a net loss of $8.192 million in 2023[45] - Adjusted EBITDA increased from a loss of $2.001 million in 2023 to a profit of $11.478 million in 2024, representing an Adjusted EBITDA margin of 13.4%[45] - Total DTC orders increased by 72% from $14.707 million in Q4 2023 to $25.289 million in Q4 2024[40] - Total revenue increased by 79% from $15.640 million in Q4 2023 to $27.979 million in Q4 2024[40] Growth Strategy - The company is expanding its retail presence with flagship stores, including locations in Scottsdale, AZ, Franklin, TN, and Salem, NH, with a Las Vegas store already generating over $1 million in revenue with a 30% contribution margin[43]