Latest news with #BryanGanz
Yahoo
4 days ago
- Business
- Yahoo
Byrna Technologies Announces Preliminary Fiscal Second Quarter Record Revenues of $28.5 Million
Company Achieves 41% Year-Over-Year Growth Driven by Compact Launcher Rollout and Retail Expansion ANDOVER, Mass., June 05, 2025 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. ('Byrna' or the 'Company') (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced select preliminary financial results for the fiscal second quarter ended May 31, 2025. Preliminary Second Quarter ResultsBased on preliminary unaudited results, Byrna expects total revenue for the fiscal second quarter of 2025 to be $28.5 million, representing a 41% increase from $20.3 million in the fiscal second quarter of 2024. The record Q2 performance was driven by strong early demand for the new Byrna Compact Launcher (CL), which launched on May 1, along with meaningful channel expansion. E-commerce sales grew 15% year-over-year, supported by growing brand recognition and an increasingly balanced channel mix. Dealer sales rose 106% year-over-year to $7.5 million, driven by early success in the Company's partnership with Sportsman's Warehouse, which soft-launched Byrna products in select stores during the second quarter. As of quarter-end, the program had rolled out an initial group of stores featuring shop-in-shop formats, with in-store 'Byrna Genius' installations expected to begin in July to support continued growth and deepen in-store engagement. Growth in the dealer channel also reflected continued momentum from Byrna's traditional distributor network. International sales rose 86%, including approximately $800,000 in royalty revenue from Byrna LATAM, which is up from a negligible base in the prior year period. To ensure sufficient supply for the CL launch and build inventory across product lines, Byrna produced 38,237 Compact Launchers in the quarter, contributing to a total of 63,835 launchers manufactured. Management Commentary'We are continuing to raise the bar at Byrna and are encouraged with our ability to generate a record $28.5 million in revenue for the second quarter,' said Byrna CEO Bryan Ganz. 'While we saw softness in overall consumer spending throughout the quarter, the launch of the CL and sustained expansion of our total addressable market helped drive a 41% year-over-year increase in revenue. This success is a testament to the growing strength of our brand and the innovation behind the CL. 'Over the past six months, we've steadily ramped production to support a successful launch of the CL. With the rollout now underway and a healthy inventory of SD and LE launchers in place, we are transitioning to a steady-state production cadence of 15,000 launchers per month. Combined with the ramping Sportsman's Warehouse partnership and an expanded influencer roster—including the recent addition of Tucker Carlson—we're well positioned to maintain momentum through the second half of 2025 and beyond.' Preliminary Fiscal Second Quarter 2025 Sales Breakdown: Sales Channel ($ in millions) Q2 2025 Q2 2024 % Change Web 16.6 14.4 15% Byrna Dedicated Dealers 7.5 3.6 106% Law Enforcement / Schools / Pvt Security 0.1 0.0 120% Retail Stores 0.8 0.2 223% International 3.6 1.9 86% Total Sales 28.5 20.3 41% Conference CallByrna plans to report its full financial results for the fiscal second quarter in July, which will be accompanied by a conference call to discuss the results and address questions from investors and analysts. The conference call details will be announced prior to the event. About Byrna Technologies is a technology company specializing in the development, manufacture, and sale of innovative non-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company's investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a non-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company's e-commerce store. Forward-Looking StatementsThis news release contains 'forward-looking statements' within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans,' 'expects,' 'intends,' 'anticipates,' and 'believes' and statements that certain actions, events or results 'may,' 'could,' 'would,' 'should,' 'might,' 'occur,' 'be achieved,' or 'will be taken.' Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, our statements related to preliminary revenue results for the second fiscal quarter 2025, the timing of the release of full financial results for the quarter, expectations for future sales growth and demand trends, the impact of marketing strategies, the anticipated performance of new products and retail store expansion, and the Company's ability to sustain momentum throughout 2025. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied. Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of the Company's supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased shipping costs or freight interruptions; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels not to carry or reduce inventory of the Company's products; determinations by advertisers to prohibit marketing of some or all Byrna products; the loss of marketing partners or endorsers; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or tariffs, sanctions or embargos that could affect the Company's supply chain or markets; delays in planned operations related to licensing, registration or permit requirements; and future restrictions on the Company's cash resources, increased costs and other events that could potentially reduce demand for the Company's products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, ('Risk Factors') in the Company's most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company's SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law. Investor Contact:Tom Colton and Alec WilsonGateway Group, Inc. 949-574-3860BYRN@
Yahoo
10-04-2025
- Business
- Yahoo
Byrna's (NASDAQ:BYRN) Q1 Earnings Results: Revenue In Line With Expectations
Non-lethal weapons company Byrna (NASDAQ:BYRN) met Wall Street's revenue expectations in Q1 CY2025, with sales up 57.3% year on year to $26.19 million. Its GAAP profit of $0.07 per share was in line with analysts' consensus estimates. Is now the time to buy Byrna? Find out in our full research report. Revenue: $26.19 million vs analyst estimates of $26.15 million (57.3% year-on-year growth, in line) EPS (GAAP): $0.07 vs analyst estimates of $0.07 (in line) Adjusted EBITDA: $2.77 million vs analyst estimates of $1.46 million (10.6% margin, 90.4% beat) Operating Margin: 6.5%, up from -1% in the same quarter last year Market Capitalization: $375.5 million Management CommentaryByrna CEO Bryan Ganz stated: 'We delivered a strong start to the fiscal year with 57% revenue growth and our second-highest quarter ever, only 6% below our record $28 million Q4, despite Q1 traditionally being our slowest seasonal period. The strong results reflect continuing sales momentum, increasing adoption of less-lethal self-defense options, and rising brand visibility. As expected, January sales softened due to post-holiday consumer fatigue and waning consumer confidence; however, we saw daily sales improve month-over-month in both February and March. Looking ahead, we believe our performance will continue to be supported by Byrna's expanding retail footprint, growing Amazon presence, and sustained awareness-building efforts – all of which lay the groundwork for the upcoming Compact Launcher release. Providing civilians with tools to disable, disarm, and deter would-be assailants, Byrna (NASDAQ:BYRN) is a provider of non-lethal weapons. Many law enforcement suppliers companies require licensing and clearance to manufacture products such as firearms. These companies can enjoy long-term contracts with law enforcement and corrections bodies, leading to more predictable revenue. It is still unclear how the recent focus on excessive force and police accountability will impact longer-term demand. On the one hand, lethal force products could become less popular. On the other hand, products such as body cams that aid in the transparency of policing could become standard. Generally, the sector's fate will also ebb and flow with state or local budgets, and there is high reputational risk, as one mishap or bad headline can change a company's fortunes. A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Luckily, Byrna's sales grew at an incredible 146% compounded annual growth rate over the last five years. Its growth surpassed the average industrials company and shows its offerings resonate with customers, a great starting point for our analysis. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Byrna's annualized revenue growth of 40.2% over the last two years is below its five-year trend, but we still think the results suggest healthy demand. We note Byrna isn't alone in its success as the Law Enforcement Suppliers industry experienced a boom, with many similar businesses also posting double-digit growth. This quarter, Byrna's year-on-year revenue growth of 57.3% was magnificent, and its $26.19 million of revenue was in line with Wall Street's estimates. We also like to judge companies based on their projected revenue growth, but not enough Wall Street analysts cover the company for it to have reliable consensus estimates. This signals Byrna could be a hidden gem because it doesn't get attention from professional brokers. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Although Byrna was profitable this quarter from an operational perspective, it's generally struggled over a longer time period. Its expensive cost structure has contributed to an average operating margin of negative 4.9% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. On the plus side, Byrna's operating margin rose by 19 percentage points over the last five years, as its sales growth gave it operating leverage. Still, it will take much more for the company to show consistent profitability. This quarter, Byrna generated an operating profit margin of 6.5%, up 7.5 percentage points year on year. This increase was a welcome development and shows it was more efficient. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Byrna's full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it's at an inflection point. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Byrna, its two-year annual EPS growth of 99.2% was higher than its five-year trend. We love it when earnings growth accelerates, especially when it accelerates off an already high base. In Q1, Byrna reported EPS at $0.07, up from $0 in the same quarter last year. This print was close to analysts' estimates. We also like to analyze expected EPS growth based on Wall Street analysts' consensus projections, but there is insufficient data. This signals Byrna could be a hidden gem because it doesn't have much coverage among professional brokers. We were impressed by how significantly Byrna blew past analysts' EBITDA expectations this quarter. Overall, we think this was still a solid quarter. The stock traded up 2.5% to $17 immediately after reporting. Indeed, Byrna had a rock-solid quarterly earnings result, but is this stock a good investment here? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
