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Byrna Technologies (BYRN)
NASDAQ:BYRN
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Byrna Technologies
(NASDAQ:BYRN)
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Rating:66Neutral
Price Target:
$20.50
▲(18.16% 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 (BYRN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$394.29M
Dividend YieldN/A
Average Volume (3M)332.34K
Price to Earnings (P/E)26.1
Beta (1Y)1.65
Revenue Growth50.99%
EPS Growth612.36%
CountryUS
Employees167
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.09
Shares Outstanding22,725,515
10 Day Avg. Volume340,753
30 Day Avg. Volume332,342
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)8.00
Price to Sales (P/S)5.07
P/FCF Ratio46.32
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue4.38
Enterprise Value/Gross Profit7.14
Enterprise Value/Ebitda34.72
Forecast
1Y Price Target
$43.00Price Target Upside147.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Byrna Technologies Business Overview & Revenue Model
Company DescriptionByrna Technologies Inc., a less-lethal defense technology company, develops and manufactures less-lethal munitions. It offers a Byrna line of handheld personal security devices, including the Byrna SD and Byrna SD .68 caliber handheld personal security devices that are designed to be used by civilians and private security professionals, as well as Byrna HD magazines, shoulder-fired launchers, and projectiles. The company also offers accessories and related safety products, including the Byrna Banshee, Byrna Shield, compressed carbon dioxide canisters, sighting systems, holsters, and Byrna-branded apparels. It operates in the United States and South Africa. The company was formerly known as Security Devices International, Inc. and changed its name to Byrna Technologies Inc. in March 2020. Byrna Technologies Inc. was incorporated in 2005 and is headquartered in Andover, Massachusetts.
How the Company Makes MoneyByrna 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 Key Performance Indicators (KPIs)
Any
Revenue by Geography
Data provided by:
The Fly
The FlyByrna Technologies Earnings Call Summary
Earnings Call Date:Oct 09, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 06, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong performance with significant revenue growth and strategic advancements in advertising and retail expansion, despite challenges in conversion rates and a decreased cash position due to strategic investments.Q3-2025 Updates
Positive Updates
Significant Revenue Growth
Net revenue for Q3 2025 was $28.2 million, a 35% increase from the $20.9 million reported in 2024, driven by strong chain store and dealer sales, new advertising initiatives, and broader brand adoption.
Increased Gross Profit and Margin Management
Gross profit for Q3 2025 was $16.9 million or 60% of net revenue, showing a capability to manage gross margins despite changes in channel mix and initial startup costs.
Improved Net Income
Net income for Q3 2025 was $2.2 million, up from $1 million for Q3 2024, driven by increased product sales.
No Debt and Strategic Inventory Management
The company has no current or long-term debt. Inventory at August 31, 2025, totaled $34.1 million, reflecting strategic builds ahead of the holiday season and new product rollouts.
Successful Advertising Campaign
The AI-enabled advertising campaign increased daily web sessions from 33,000 to over 50,000, with ongoing growth into fiscal Q4.
Retail Expansion
Byrna Technologies Inc. is now in over 1,000 stores nationwide, including big box partners and its own retail stores, which are performing in line with expectations.
New Product Innovations
Development of new products beyond the traditional less lethal weapon category, including a connected safety platform, is underway.
Negative Updates
Decreased Cash Position
Cash, cash equivalents, and marketable securities at August 31, 2025, totaled $9 million compared to $25.7 million at November 30, 2024, mainly due to seasonal working capital timing.
Challenges in Conversion Rates
Initial surge in web traffic from new advertising campaigns lowered conversion rates, though improvement is expected over time.
Operating Expenses Increase
Operating expenses for Q3 2025 were $14.1 million compared to $12.2 million for Q3 2024, driven by increased variable selling expenses and marketing investments.
Company Guidance
In Byrna Technologies Inc.'s fiscal third quarter 2025 earnings call, the company reported a 35% year-over-year increase in net revenue, reaching $28.2 million, driven by strong chain store and dealer sales, effective new advertising initiatives, and increased brand adoption. Gross profit was $16.9 million, representing 60% of net revenue, with operating expenses at $14.1 million, mainly due to increased marketing investments. The company achieved a net income of $2.2 million, up from $1 million the previous year, and adjusted EBITDA totaled $3.7 million. Byrna Technologies Inc. saw significant growth in web traffic and retail presence, with daily web sessions increasing from 33,000 to over 50,000. They also expanded their opt-in email list to 1.9 million subscribers, enhancing their reach for upcoming sales. The company highlighted its strategy to integrate SOS alert technology with its less lethal products to broaden its market reach and create new revenue streams. Byrna Technologies Inc. expects full-year fiscal 2025 revenue growth to be between 35% and 40%, with a focus on expanding its retail footprint and leveraging new advertising campaigns.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
Neutral
17.35
Price Trends
18.20
Negative
19.69
Negative
21.79
Negative
Market Momentum
-0.40
Negative
48.27
Neutral
55.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYRN, the sentiment is Neutral. The current price of 17.35 is below the 20-day moving average (MA) of 17.63, below the 50-day MA of 18.20, and below the 200-day MA of 21.79, indicating a bearish trend. The MACD of -0.40 indicates Negative momentum. The RSI at 48.27 is Neutral, neither overbought nor oversold. The STOCH value of 55.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BYRN.
Byrna Technologies Risk Analysis
Byrna Technologies disclosed 52 risk factors in its most recent earnings report. Byrna Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Byrna Technologies Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $394.29M | 26.11 | 29.71% | ― | 50.99% | 612.36% | |
64 Neutral | $450.72M | 45.63 | 2.71% | 5.10% | -9.08% | -71.62% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $542.74M | 263.06 | 0.87% | 1.92% | 3.90% | -92.10% | |
49 Neutral | $1.57B | -7.06 | -115.63% | ― | ― | -33.69% | |
45 Neutral | $206.12M | -3.38 | ― | ― | -11.01% | -279.70% | |
41 Neutral | $95.45M | -0.15 | -1.66% | ― | ― | -116.40% |
* Industrials Sector Average
BYRN
Byrna Technologies
17.50
-9.99
-36.34%
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Byrna Technologies Corporate Events
Regulatory Filings and Compliance
Byrna Technologies Updates Investor Presentation
Neutral
Nov 13, 2025
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.
The most recent analyst rating on (BYRN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on Byrna Technologies stock, see the BYRN Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.