Byrna Technologies (BYRN) AI Stock Analysis

• Market Cap: $425.42M
• Dividend Yield: N/A
• Average Volume (3M): 337.31K
• Price to Earnings (P/E): 27.9
• Beta (1Y): 1.65
• Revenue Growth: 50.99%
• EPS Growth: 612.36%
• Country: US
• Employees: 167
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 0.09
• Shares Outstanding: 22,725,515
• 10 Day Avg. Volume: 315,894
• 30 Day Avg. Volume: 337,313
• PEG Ratio: -0.13
• Price to Book (P/B): 8.00
• Price to Sales (P/S): 5.07
• P/FCF Ratio: 46.32
• Enterprise Value/Market Cap: 1.14
• Enterprise Value/Revenue: 4.38
• Enterprise Value/Gross Profit: 7.14
• Enterprise Value/Ebitda: 34.72
• 1Y Price Target: $40.00
• Price Target Upside: 118.46% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $20.50 ▲(11.96% Upside)

Byrna Technologies' overall stock score is driven by strong financial performance and positive earnings call insights, indicating robust revenue growth and strategic advancements. However, technical indicators suggest bearish momentum, and cash flow challenges pose potential risks. The company's valuation is moderate, with room for improvement in operational efficiency and cash management.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and effective sales strategies, supporting long-term business expansion and financial health.

Product Innovation

Continuous product innovation enhances competitive advantage and market position, driving future growth and customer engagement.

Strategic Board Expansion

Strategic board appointments bring expertise in brand building and public safety, strengthening leadership and supporting strategic growth initiatives.

Negative Factors

Cash Flow Challenges

Negative operating cash flow indicates potential liquidity risks, which could impact the company's ability to fund operations and growth initiatives.

Increased Operating Expenses

Rising operating expenses may pressure margins and profitability, necessitating improved cost management to sustain financial performance.

Decreased Cash Position

A reduced cash position limits financial flexibility and could hinder the company's ability to invest in growth opportunities or weather economic downturns.

Byrna Technologies Business Overview & Revenue Model

Company Description

Byrna Technologies Inc. is an innovative company focused on non-lethal personal security solutions, primarily serving the law enforcement, military, and civilian markets. The company specializes in the development and manufacturing of advanced self-defense products, including the Byrna HD, a less-lethal launcher designed to provide a safe and effective means of self-defense. Byrna's solutions are aimed at enhancing personal safety and security while minimizing the potential for lethal outcomes in confrontational situations.

How the Company Makes Money

Byrna Technologies generates revenue through the sale of its non-lethal self-defense products, which include launchers, projectiles, and accessories. The company's primary revenue stream comes from direct sales to consumers and law enforcement agencies, as well as through partnerships with various retailers and distributors. Byrna also benefits from recurring revenue through the sale of consumables, such as the projectiles used in their launchers. Additionally, strategic collaborations with law enforcement and security organizations enhance their market reach and credibility, contributing to overall sales growth.

Byrna Technologies Financial Statement Overview

Summary

Byrna Technologies shows strong revenue growth and profitability with a stable balance sheet. However, cash flow challenges, particularly negative operating cash flow, pose potential liquidity risks.

Income Statement

Byrna Technologies shows a strong revenue growth rate of 7.08% TTM, with improving profitability metrics. The gross profit margin is robust at 61.32%, indicating efficient cost management. The net profit margin of 14.43% TTM reflects a healthy bottom line. However, the EBIT margin of 8.22% suggests room for improvement in operational efficiency.

Balance Sheet

The company's balance sheet is stable, with a low debt-to-equity ratio of 0.039 TTM, indicating low leverage and financial risk. The return on equity is strong at 27.29% TTM, showcasing effective use of equity to generate profits. The equity ratio of 80.38% TTM highlights a solid capital structure. However, maintaining this low leverage while improving asset utilization could enhance financial stability.

Cash Flow

Cash flow analysis reveals challenges, with negative operating cash flow of -$4.24 million TTM. Despite this, the free cash flow growth rate is positive at 28.18% TTM, indicating potential for future cash generation. The free cash flow to net income ratio of 2.61 TTM suggests efficient conversion of profits into cash, but the negative operating cash flow coverage ratio highlights liquidity concerns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	110.85M	85.76M	42.64M	48.04M	42.16M	16.57M
Gross Profit	67.97M	52.77M	23.65M	26.28M	22.89M	7.51M
EBITDA	13.97M	8.16M	-6.53M	-6.88M	-2.80M	-11.03M
Net Income	16.00M	12.79M	-8.19M	-7.88M	-3.28M	-12.55M
Balance Sheet
Total Assets	78.56M	71.92M	52.31M	57.05M	75.31M	21.22M
Cash, Cash Equivalents and Short-Term Investments	9.00M	25.73M	20.50M	20.07M	56.31M	3.17M
Total Debt	2.43M	2.64M	1.90M	2.55M	1.09M	1.28M
Total Liabilities	15.42M	17.55M	9.99M	11.05M	9.22M	12.81M
Stockholders Equity	63.14M	54.37M	42.32M	45.99M	66.10M	8.41M
Cash Flow
Free Cash Flow	-11.04M	9.39M	2.99M	-17.08M	-6.28M	1.11M
Operating Cash Flow	-4.24M	11.74M	3.89M	-13.83M	-4.44M	2.54M
Investing Cash Flow	-9.26M	-11.23M	-2.98M	-5.14M	-5.88M	-2.00M
Financing Cash Flow	-529.00K	-4.55M	-422.00K	-17.04M	57.25M	7.77M

Byrna Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYRN, the sentiment is Negative. The current price of 18.31 is above the 20-day moving average (MA) of 18.12, below the 50-day MA of 19.90, and below the 200-day MA of 22.09, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 49.50 is Neutral, neither overbought nor oversold. The STOCH value of 42.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BYRN.

Byrna Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYRN	66 Neutral	$425.42M	27.93	29.71%	―	50.99%	612.36%
SWBI	64 Neutral	$478.75M	48.47	2.71%	5.84%	-9.08%	-71.62%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
RGR	60 Neutral	$533.34M	258.50	0.87%	1.89%	3.90%	-92.10%
POWW	49 Neutral	$187.38M	-3.06	―	―	-11.01%	-279.70%
EVEX	43 Neutral	$1.69B	―	-115.63%	―	―	-33.69%
PEW	43 Neutral	$102.95M	―	-1.16%	―	―	-116.40%

Byrna Technologies Corporate Events

Byrna Technologies Updates Investor Presentation

Byrna Technologies Inc. has released an updated investor presentation, which is intended for use in future investor meetings. The presentation is attached to a Current Report on Form 8-K but is not considered filed under the Securities Exchange Act of 1934, nor is it incorporated by reference in any company filings under the Securities Act of 1933 or the Securities Exchange Act of 1934.

Byrna Technologies Expands Board with Strategic Appointments

On September 4, 2025, Byrna Technologies Inc. expanded its Board of Directors from five to seven members, appointing Adam L. Roth and TJ Kennedy to fill the new positions. Roth, a former Nike executive, and Kennedy, a veteran in public safety technology, bring significant expertise in brand building and public safety to Byrna. These appointments are expected to enhance Byrna’s consumer reach and strengthen its position in the security and public safety markets, reflecting the company’s strategic focus on growth and market expansion.