Core Viewpoint - Byrna Technologies Inc. will ring the Nasdaq Stock Market Opening Bell on December 22, 2025, celebrating its success as a public company and highlighting its growth in the personal defense technology sector [1][3]. Company Overview - Byrna Technologies specializes in developing, manufacturing, and selling innovative less-lethal personal security solutions, including the Byrna CL, Byrna LE, and Byrna SD devices [4]. - The company has sold over 750,000 launchers globally since its uplisting to Nasdaq in 2021, indicating significant growth and demand for its products [2]. Leadership Statement - CEO Bryan Ganz expressed honor in being invited to ring the Nasdaq Opening Bell, attributing the milestone to the dedication of the team and customer loyalty, while emphasizing the company's mission to provide safe and effective personal safety options [3]. Event Details - The Opening Bell ceremony will be broadcast live at 9:30 a.m. ET on December 22, 2025, and will be available for streaming on Nasdaq's official channels [3].

Core Insights - Byrna Technologies Inc. reported preliminary financial results indicating a total revenue of $118.0 million for the fiscal year 2025, representing a 38% increase from $85.8 million in fiscal year 2024 [1][2][3] Financial Performance - For the fiscal fourth quarter of 2025, Byrna expects total revenue to be $35.1 million, which is a 26% increase compared to $28.0 million in the same quarter of fiscal year 2024 [2][3] - The full-year revenue growth was attributed to enhanced brand visibility, an expanded retail presence, and the successful launch of the Byrna CL product [3] Sales Channel Performance - The breakdown of sales channels for Q4 2025 shows significant growth across various segments: - Web sales increased by 7% to $22.3 million from $20.8 million in Q4 2024 - Sales through Byrna chain stores and dealers surged by 68% to $8.4 million from $5.0 million - Law enforcement, schools, and private security sales grew by 100% to $0.1 million from $0.0 million - Retail store sales increased by 187% to $0.9 million from $0.3 million - International sales rose by 91% to $3.5 million from $1.8 million [5] Cash Position - As of November 30, 2025, Byrna had over $15 million in cash and cash equivalents, up from $9.0 million at August 31, 2025, indicating strong cash flow from fourth quarter sales [4] Management Commentary - The CEO of Byrna highlighted the operational progress made in 2025, emphasizing the importance of brand normalization and the elevation of the less-lethal category in the personal safety market for future growth [5]

Core Viewpoint - Byrna Technologies Inc. is actively participating in several financial conferences in November and December 2025 to engage with investors and promote its innovative less-lethal personal security solutions [1][2]. Group 1: Conference Participation - Byrna is scheduled to attend the Craig-Hallum 16th Annual Alpha Select Conference on November 18, 2025, at the Sheraton New York Times Square Hotel, with a format of one-on-one and small group meetings [1]. - The company will also participate in the ROTH 14th Annual Technology Conference on November 19, 2025, at the Hard Rock Hotel, Times Square, following the same meeting format [2]. - Additionally, Byrna will be part of the Furey Hidden Gems Corporate Access Conference on November 24, 2025, in a virtual format [2]. - The ROTH 14th Annual Deer Valley Event is scheduled for December 10-13, 2025, at Montage Deer Valley, also featuring one-on-one and small group meetings [2]. Group 2: Company Overview - Byrna Technologies Inc. specializes in the development, manufacture, and sale of innovative less-lethal personal security solutions, including products like the Byrna CL, Byrna LE, and Byrna SD [3]. - The company's products are designed as state-of-the-art handheld CO2 powered launchers, providing a less-lethal alternative to firearms for consumers, private security, and law enforcement markets [3]. - Byrna's products can be purchased through the company's e-commerce store [3].

Core Insights - Byrna Technologies Inc. has been recognized as the 10 company in Forbes' America's Most Successful Small-Cap Companies List, highlighting its strong financial performance and strategic positioning in the personal safety market [1][2]. Financial Performance - Byrna reported a 35% year-over-year revenue growth in its fiscal third quarter, driven by expanding product adoption and new distribution partnerships [3]. Market Positioning - The company is well-positioned to extend its leadership in the personal safety industry, supported by growing consumer awareness, a robust innovation pipeline, and an expanding total addressable market [3]. Product Offerings - Byrna specializes in the development, manufacture, and sale of innovative less-lethal personal security solutions, including the Byrna CL, Byrna LE, and Byrna SD devices [4].

Core Insights - Byrna Technologies Inc. is gaining traction in the market for less-lethal personal security solutions, particularly among houses of worship and schools as safety concerns rise nationwide [1][2] Company Overview - Byrna specializes in the development, manufacture, and sale of innovative less-lethal personal security solutions, including the Byrna CL, Byrna LE, and Byrna SD devices [4] - The company aims to provide effective means of defense without resorting to deadly force, emphasizing safety and responsibility [2][3] Market Trends - There is a growing national conversation about balancing preparedness with responsibility, leading institutions to seek alternatives to lethal force [2] - Byrna's less-lethal launchers utilize kinetic and pepper projectiles to incapacitate threats, offering a middle ground between passive security measures and firearms [3] Partnerships and Training - Byrna collaborates with leading security training organizations, such as Krisis, Inc. and USCCA, to develop responsible safety programs [3] - The company trains hundreds of church security teams annually, focusing on situational awareness, de-escalation, and less-lethal response tactics [3] Adoption by Institutions - Byrna is currently partnering with various educational institutions and houses of worship, including public schools and colleges across Texas and Utah [3][5]

Core Insights - Byrna Technologies Inc. has been included in a significant independent study by researchers from Harvard and Stanford, focusing on firearm ownership and attitudes towards non-lethal defense solutions [1][2]. Group 1: Study Overview - The study titled "The Universal Pursuit of Safety and the Demand for (Lethal, Non-Lethal, or No) Guns" involved approximately 6,000 U.S. adults aged 18-64 and aimed to understand how safety beliefs influence preferences for lethal versus non-lethal protection [2]. - The Byrna SD was the exclusive non-lethal firearm used in the study, which assessed how exposure to such products affects safety beliefs and preferences [3]. Group 2: Findings and Implications - Exposure to Byrna's technology led to a significant increase in respondents' willingness to pay for non-lethal devices, with 43% preferring a firearm that incapacitates rather than kills [3][4]. - The study indicates a cultural shift in self-defense perceptions, with both firearm owners and non-owners prioritizing family and self-protection as key reasons for firearm ownership [4]. - Only 21% of firearm owners had previously heard of Byrna, highlighting a substantial opportunity for increased education and awareness about non-lethal alternatives [4]. Group 3: Market Position and Future Outlook - The study supports the notion of non-lethal alternatives as a "harm reduction" approach, potentially expanding access to personal protection while mitigating risks associated with lethal weapons [5]. - Byrna's inclusion in this research reinforces its position as a leader in the movement towards responsible self-defense and safer personal security solutions [5].

Company Overview - Byrna Technologies Inc. is a leading less-lethal self-defense technology company focused on empowering individuals and security professionals with innovative, non-lethal solutions under its "Live Safe®" mission [3] - The company's product portfolio includes handheld personal security devices, shoulder-fired launchers, proprietary projectiles, self-defense aerosols, and related safety accessories, serving both consumer and professional markets [3] Product and Market Strategy - Byrna's flagship products, such as the Byrna SD, Byrna LE, and Byrna CL, provide safer standoff distances than traditional self-defense tools while offering modularity, ease of use, and higher margins [3] - Strategic acquisitions, including Mission Less Lethal and Fox Labs International, have expanded Byrna's product line, professional market reach, and intellectual property portfolio [4] - The company employs a dual sales strategy that includes e-commerce, dealer networks, and professional training programs, supported by targeted marketing efforts focusing on brand awareness and law enforcement education [4] Competitive Advantage - Byrna's competitive edge is enhanced by patented Pull-Pierce technology, which improves response time and usability in critical scenarios [5] - The company operates in a rapidly growing market with strong societal support for less-lethal solutions, benefiting from an enormous addressable market and improving profitability [5] - Byrna's manufacturing is conducted in high-capacity U.S. and South African facilities, ensuring reliability and scalability through rigorous quality control and in-house projectile production [4]

Financial Data and Key Metrics Changes - Net revenue for Q3 2025 was $28.2 million, a 35% increase from $20.9 million in Q3 2024, driven by strong chain store and dealer sales [4][5] - Gross profit for Q3 2025 was $16.9 million, or 60% of net revenue, compared to $13 million, or 62% of net revenue for Q3 2024 [4][5] - Net income for Q3 2025 was $2.2 million, up from $1 million in Q3 2024, attributed to increased product sales [5] - Adjusted EBITDA totaled $3.7 million, up from $1.9 million for Q3 2024 [6] - Cash and cash equivalents totaled $9 million at August 31, 2025, down from $25.7 million at November 30, 2024, reflecting seasonal working capital timing [6] Business Line Data and Key Metrics Changes - The Byrna SD launcher accounts for about 50% of sales, while the Byrna Compact Launcher represents around 30% of sales [15] - Operating expenses for Q3 2025 were $14.1 million, compared to $12.2 million for Q3 2024, driven by increased selling expenses and marketing investments [5] Market Data and Key Metrics Changes - The company expanded its retail presence to over 1,000 stores nationwide, contributing to increased brand awareness and sales [11] - Average daily web sessions on Byrna.com increased from 33,000 to over 50,000, with September averaging 58,000 sessions per day [8][9] Company Strategy and Development Direction - The company is focusing on expanding its product offerings beyond less lethal weapons, integrating SOS alert capabilities with its launchers and sprays [17][19] - Plans to introduce a value-oriented 61-caliber launcher in 2026 to target budget-minded consumers [23] - The company aims to enhance its retail model and explore flagship markets for potential new stores [14] Management's Comments on Operating Environment and Future Outlook - Management expects full-year fiscal 2025 revenue growth to be between 35% and 40%, supported by strong sales momentum and holiday shopping [25] - The company anticipates that inventory levels will normalize after the peak season [7] - Management is optimistic about the potential for sustained multi-year growth, leveraging new advertising programs and expanded retail footprint [26] Other Important Information - The company has no current or long-term debt, and accounts receivable increased to $8.9 million, driven by higher dealer sales [6] - Inventory at August 31, 2025, totaled $34.1 million, reflecting strategic builds ahead of the holiday season [7] Q&A Session Summary Question: Thoughts on adding new influencers - The company has expanded its celebrity influencer campaign and is looking to bring on new brand ambassadors to reach a broader demographic [30] Question: Update on the lower price point unit - The next new launcher will be a value-oriented 61-caliber launcher, expected to launch next year, but the basic box configuration has not been as popular as anticipated [32] Question: ByrnaCare adoption status - ByrnaCare adoption is in line with expectations, with plans to enhance website integration for better sales [34] Question: Advertising campaign success and conversion rates - The company is seeing increased web traffic but acknowledges that conversion rates will take time to catch up [40][42] Question: Channel mix expectations for Q4 - Strong dealer and chain store sales are expected to continue, with DTC channels anticipated to be a higher percentage of overall sales [43] Question: Expense leverage in the model - The company expects to maintain expense leverage, although some additional marketing expenses will be incurred in Q4 [45] Question: Update on wholesale expansion - The company is focused on optimizing existing retail partnerships rather than aggressively expanding the number of stores [54][55] Question: Timeline for SOS alert technology - The connected safety platform is expected to be commercially available next year, with phased releases of various products [57]

Financial Data and Key Metrics Changes - Net revenue for Q3 2025 was $28.2 million, a 35% increase from $20.9 million in Q3 2024, driven by strong chain store and dealer sales [4][5] - Gross profit for Q3 2025 was $16.9 million, or 60% of net revenue, compared to $13 million, or 62% of net revenue for Q3 2024 [4][5] - Net income for Q3 2025 was $2.2 million, up from $1 million in Q3 2024, attributed to increased product sales [5] - Adjusted EBITDA totaled $3.7 million, up from $1.9 million in Q3 2024 [6] - Cash and cash equivalents at August 31, 2025, totaled $9 million, down from $25.7 million at November 30, 2024, reflecting seasonal working capital timing [6] Business Line Data and Key Metrics Changes - The sales mix shifted with the Compact Launcher accounting for around 30% of sales, while the SD launcher made up about 50% [15] - The company has seen strong dealer and international sales, contributing to gross margin performance [5][15] Market Data and Key Metrics Changes - The company expanded its retail presence to over 1,000 stores nationwide, including big-box partners and premier dealers [11] - Average daily sessions on Byrna.com increased from 33,000 to over 50,000, with September averaging 58,000 sessions per day [8][10] Company Strategy and Development Direction - The company is focusing on expanding its advertising initiatives and retail presence to drive sales growth [8][23] - Plans to integrate SOS alert technology with Byrna's products to enhance customer safety and create recurring revenue streams [20][21] - The mission statement has been modified to reflect a broader focus on providing safe, reliable, and effective less lethal alternatives to traditional firearms [16] Management's Comments on Operating Environment and Future Outlook - Management expects full-year fiscal 2025 revenue growth to be between 35% and 40%, supported by strong sales momentum and holiday shopping season [23][24] - The company anticipates continued improvement in conversion rates as web traffic increases, although it may take time to return to historical averages [40][41] Other Important Information - The company has no current or long-term debt, and accounts receivable increased significantly due to higher dealer sales [6][7] - Inventory at August 31, 2025, totaled $34.1 million, reflecting strategic builds ahead of the holiday season [7] Q&A Session Summary Question: Thoughts on adding new influencers - The company has expanded its celebrity influencer campaign and is looking to bring on new brand ambassadors to reach a broader customer demographic [28][29] Question: Update on new product launches - The next new launcher will be a 61-caliber launcher expected next year, while the basic box configuration has not been as popular as anticipated [32] Question: ByrnaCare adoption status - ByrnaCare adoption is in line with expectations, with plans to enhance website integration for better customer engagement [34] Question: Advertising campaign success and conversion rates - The company is seeing increased web traffic but is cautious about conversion rates, which typically take time to improve [40][41] Question: Wholesale expansion and retail footprint - The company plans to maintain its current retail footprint while focusing on enhancing existing partnerships and store performance [53][54]

Financial Data and Key Metrics Changes - Net revenue for Q3 2025 was $28.2 million, a 35% increase from $20.9 million in Q3 2024, driven by strong chain store and dealer sales [4][5] - Gross profit for Q3 2025 was $16.9 million, or 60% of net revenue, compared to $13 million, or 62% of net revenue for Q3 2024 [4][5] - Net income for Q3 2025 was $2.2 million, up from $1 million in Q3 2024, attributed to increased product sales [5] - Adjusted EBITDA totaled $3.7 million, up from $1.9 million in Q3 2024 [6] - Cash and cash equivalents at August 31, 2025, totaled $9 million, down from $25.7 million at November 30, 2024, reflecting seasonal working capital timing [6] Business Line Data and Key Metrics Changes - The Byrna SD launcher accounts for about 50% of sales, while the Byrna Compact Launcher represents around 30% of sales [15] - The company has expanded its retail presence to over 1,000 stores nationwide, contributing to increased sales [11] - Company-owned stores achieved an average annualized run rate of $725,000 in September [12] Market Data and Key Metrics Changes - The advertising campaign led to a significant increase in web traffic, with average daily sessions on Byrna.com rising from 33,000 to over 50,000 [8][10] - The company has seen a 70% increase in web traffic sequentially, with expectations for improved conversion rates as customer engagement grows [35][36] Company Strategy and Development Direction - The company is focusing on expanding its product offerings beyond less lethal weapons, integrating SOS alert capabilities and connected safety solutions [17][20] - Plans include launching a value-oriented 61-caliber launcher and a simplified protection device in 2026 to reach budget-minded consumers [23][24] - The company aims to enhance customer engagement and create recurring revenue streams through new technology-driven products [20][26] Management's Comments on Operating Environment and Future Outlook - Management expects full-year fiscal 2025 revenue growth to be between 35% and 40%, supported by strong sales momentum and holiday shopping [25] - The company is confident in its ability to penetrate a large and expanding market, laying the groundwork for sustained multi-year growth [26] Other Important Information - The company has no current or long-term debt, and accounts receivable increased to $8.9 million due to higher dealer sales [6][7] - Inventory at August 31, 2025, totaled $34.1 million, reflecting strategic builds ahead of the holiday season [7] Q&A Session Summary Question: Thoughts on adding new influencers - The company is expanding its celebrity influencer campaign beyond conservative radio hosts and is working on a plan with a new director with experience at Nike [30][31] Question: Update on new product launches - The next new launcher will be a value-oriented 61-caliber launcher, expected next year, while the basic box configuration has not been as popular as anticipated [32] Question: ByrnaCare adoption - ByrnaCare adoption is in line with expectations, with plans to enhance website integration for better customer engagement [33] Question: Advertising campaign success and conversion rates - The company is seeing a climb in conversion rates but acknowledges that it takes time for new web traffic to convert into sales [35][36] Question: Wholesale expansion and retail footprint - The company plans to maintain its current retail footprint while focusing on enhancing existing relationships with partners [49][50]