Byrna Technologies Reports 37.7% Revenue Growth to $118.1 Million for Fiscal Year Ending November 30, 2025

Byrna Technologies Inc. reported a significant increase in financial performance for the fiscal year ending November 30, 2025, with total revenue reaching $118.1 million, a 37.7% increase from $85.8 million in the previous year. This growth was primarily driven by a $21.6 million rise in wholesale dealer and distributor sales, alongside a 16.3% increase in direct-to-consumer e-commerce sales, which accounted for 64.8% of total revenue. The company also noted a decline in gross margin, which fell to 60.5% from 61.5% in the prior year, attributed to a higher proportion of lower-margin wholesale and retail sales.

In terms of operational developments, Byrna expanded its product offerings and distribution channels significantly. The company launched the Byrna CL™ (Compact Launcher) and enhanced its law enforcement product lines, including the Byrna LE™ and LE PRO™. Additionally, Byrna established a wholly-owned subsidiary in Canada to support regulatory compliance and market expansion. The company also opened several Byrna-branded retail locations and entered into a national retail partnership with Sportsman’s Warehouse, further diversifying its distribution strategy.

The company’s workforce as of February 1, 2026, consisted of 159 employees, reflecting its growth and expansion efforts. Byrna's international revenue also increased, rising from $6.8 million to $12.1 million year-over-year, indicating a successful push into foreign markets. The company recognized $1.6 million in royalty revenue from its licensing agreement with Byrna LATAM, which was established to facilitate operations in South America.

Despite the positive revenue growth, Byrna faced challenges with rising operating expenses, which increased to $59.6 million from $46.1 million in the previous year. This rise was driven by higher marketing costs, personnel-related expenses, and professional fees. The company reported a profit from operations of $11.8 million, up from $6.7 million in the prior year, but noted that increased operating expenses partially offset revenue gains.

Looking ahead, Byrna Technologies expressed optimism about its growth trajectory, emphasizing its commitment to expanding its product lines and market presence. The company plans to continue investing in research and development, marketing, and retail expansion to capitalize on the growing demand for less-lethal security products. However, it acknowledged potential risks, including regulatory changes and market competition, which could impact future performance.