Byrna Technologies Reports 35.1% Revenue Growth to $28.2 Million in Latest Quarter

Byrna Technologies Inc. reported significant financial growth in its latest quarterly filing, with net revenue reaching $28.2 million for the three months ended August 31, 2025, a 35.1% increase from $20.9 million in the same period last year. For the nine months ended August 31, 2025, the company generated $82.9 million in revenue, up 43.4% from $57.8 million in the prior year. The increase in revenue is attributed to a new marketing strategy that shifted focus from social media to celebrity endorsements, which has positively impacted sales across various channels, including a 155.2% increase in sales to domestic dealers and retailers.

The company's gross profit for the third quarter was $16.9 million, representing a gross margin of 60.1%, slightly down from 62.4% in the previous year. This decline in margin is primarily due to a higher proportion of sales through wholesale channels, which typically yield lower margins compared to e-commerce sales. Operating expenses also rose to $14.1 million, an increase of $1.9 million from the prior year, driven by higher marketing costs and employee compensation.

Byrna's net income for the third quarter was $2.2 million, an increase of $1.2 million compared to $1.0 million in the same quarter last year. For the nine-month period, net income reached $6.3 million, up from $3.1 million in the previous year. The company recorded an income tax expense of $0.6 million for the third quarter, with an effective tax rate of 20.6%, compared to a nominal tax expense in the prior year.

Operationally, Byrna has seen an increase in accounts receivable, which rose to $8.9 million as of August 31, 2025, compared to $2.6 million at the end of the previous fiscal year. The company also reported a significant increase in inventory, which grew to $34.1 million from $20.0 million, reflecting the company's strategy to support increased sales volumes. Byrna's cash and cash equivalents decreased to $6.5 million from $16.8 million, primarily due to cash used in operating activities.

Looking ahead, Byrna Technologies aims to continue leveraging its brand to expand its product line and market presence, particularly in the less-lethal security product segment. The company is focused on fulfilling the growing demand for non-lethal products in both consumer and professional markets. Byrna's management remains optimistic about future growth, contingent on its ability to raise sufficient capital and generate adequate revenues to cover ongoing operating expenses.