Byrna Technologies Reports $29M Revenue with 10.7% Growth, Net Income Decline

Byrna Technologies Inc. reported a net revenue of $29.0 million for the three months ended February 28, 2026, marking a 10.7% increase from $26.2 million in the same period last year. The growth was primarily driven by a significant rise in wholesale sales, which surged by 114.9% to $10.7 million, while direct-to-consumer sales through online channels decreased by 8.9% to $18.1 million. The company’s gross profit for the quarter was $17.4 million, representing a gross margin of 59.9%, slightly down from 60.8% in the prior year, attributed to a shift in sales mix and higher manufacturing costs.

Operating expenses increased to $16.5 million, up from $14.2 million in the previous year, largely due to heightened marketing efforts, increased professional fees, and higher employee compensation costs. The company reported a net income of $0.8 million, a decrease from $1.7 million in the same quarter of the previous year. This decline was influenced by increased operating expenses and a foreign currency transaction loss of $0.2 million, compared to a loss of $0.1 million in the prior year.

In terms of operational developments, Byrna Technologies has continued to expand its market presence, particularly in the wholesale sector, which has seen enhanced engagement with national retailers and law enforcement agencies. The company also established Byrna Technologies Canada Inc. to facilitate distribution in Canada, although international sales decreased to $1.3 million from $2.0 million year-over-year. The company’s total assets decreased to $79.9 million from $84.5 million, with cash and cash equivalents dropping to $7.5 million.

Byrna's strategic initiatives include a stock buyback program approved in July 2024, allowing for the repurchase of up to $10 million in shares to return capital to shareholders and mitigate dilution from stock options. The company also entered into a credit agreement with Texas Capital Bank, providing a $20 million credit facility to support its operations. Looking ahead, Byrna Technologies aims to leverage its product portfolio and market demand for less-lethal solutions to drive future growth, while managing its operational costs and enhancing its sales channels.