Web Traffic Growth and Expanding Retail Presence Position Byrna to Deliver Expected 35-40% Revenue Growth in Fiscal 2025 and Establish a Strong Foundation for Fiscal 2026
ANDOVER, Mass., Oct. 09, 2025 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. ("Byrna" or the "Company") (NASDAQ:BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today reported select financial results for its fiscal third quarter ended August 31, 2025.
Fiscal Third Quarter 2025 and Recent Operational Highlights
Launched new AI advertising workstream, allowing Byrna to quickly generate professional-quality commercials at scale and broaden its advertising platforms in a cost-effective way.
Added new big-box store locations where Byrna products are sold, bringing Byrna's total brick-and-mortar presence to over 1,000 stores nationwide.
Web traffic performance improved significantly, with daily sessions on Byrna.com increasing from the 33,000 session average prior to the implementation of the new advertising campaign, to more than 50,000 in August as Byrna rolled out the new AI supported advertising campaign. These numbers have continued to climb with average daily web sessions averaging 58,000 in the month of September.
Introduced ByrnaCare™, a comprehensive protection plan for Byrna launchers, underscoring the Company's first steps to complement product sales with recurring, service-based offerings.
Appointed Adam Roth, former Vice President of North America Marketing at Nike, Inc., and TJ Kennedy, veteran technology and public safety executive, to its Board of Directors.
Fiscal Third Quarter 2025 Financial ResultsResults compare the fiscal third quarter ended August 31, 2025 ("Q3 2025") to the fiscal third quarter ended August 31, 2024 ("Q3 2024") unless otherwise indicated.
Net revenue for Q3 2025 grew 35% year-over-year to $28.2 million from $20.9 million in Q3 2024. The year-over-year growth was largely driven by strong dealer and chain store sales tied to Byrna's expanding retail presence, the success of new marketing initiatives, and broader brand adoption. Web traffic began to build late in the quarter and has continued into the fourth fiscal quarter of 2025 (Q4 2025), supporting stronger e-commerce activity.
Gross profit for Q3 2025 increased to $16.9 million (60% of net revenue) from $13.0 million (62% of net revenue) in Q3 2024, reflecting the strong increase in sales. Gross margin performance reflects the changing channel mix, which saw much stronger dealer sales, as well as one-time startup costs associated with the Compact Launcher launch and associated manufacturing ramp-up costs. Since its launch in Q2 2025, the Compact Launcher (CL) has achieved faster production yield improvements compared to previous product releases. Byrna anticipates that CL margins will continue to grow as production volume increases and manufacturing processes become more efficient.
Operating expenses for Q3 2025 were $14.1 million, compared to $12.2 million for Q3 2024. The increase was primarily due to higher variable selling expenses, and increased discretionary marketing spend to support growth.
Net income for Q3 2025 was $2.2 million, an increase from $1.0 million for Q3 2024, driven by an overall increase in product sales and operating leverage.
Adjusted EBITDA1, a non-GAAP metric reconciled below, for Q3 2025 totaled $3.7 million, up from $1.9 million in Q3 2024.
Cash, cash equivalents and marketable securities at August 31, 2025 totaled $9.0 million compared to $25.7 million at November 30, 2024. This decrease was a result of working capital changes due to an increase in inventory and accounts receivable.
Accounts receivable at August 31, 2025 totaled $8.9 million compared to $2.6 million at November 30, 2024.
Inventory totaled $34.1 million at August 31, 2025, compared to $20.0 million at November 30, 2024, reflecting strategic builds ahead of the holiday season and Compact Launcher rollout. The Company has no current or long-term debt.
Management CommentaryByrna CEO Bryan Ganz stated: "In Q3 2025, we delivered 35% year-over-year revenue growth, highlighting the increasing strength of our brand and the effectiveness of our growth strategy. In August, our new advertising initiatives, including AI-enabled campaigns that allow us to reach more consumers across more channels, lifted average daily web sessions on Byrna.com from roughly 33,000 to more than 50,000. We saw a similar increase on Amazon with sessions in August up 70% from the average prior to the rollout of the new advertising campaign. That momentum has carried into early fiscal Q4 2025, with September web sessions averaging 58,000 sessions per day. This new advertising approach has helped elevate brand recognition and credibility. Recently, we launched placements on MLB streaming platforms and NFL airport displays, and we expect these additions to help open doors to additional networks serving comparable demographics.
"Our brick-and-mortar presence continues to expand, with Byrna products now in over 1,000 retail locations nationwide. Both dealer and company-owned stores are performing well, and we are seeing rising adoption of our higher-margin Compact Launcher in settings where customers can experience the product firsthand.
"Now more than a month into fiscal Q4 2025 and approaching the holiday shopping period, we are confident in the strength of demand. We expect full-year fiscal 2025 revenue growth to come in between 35% and 40%. With Black Friday weekend falling in the final days of fiscal Q4 and Cyber Monday beginning fiscal Q1 2026, holiday sales are expected to lift both fiscal Q4 2025 and fiscal Q1 2026 results, reinforcing strength in each period and providing added momentum into the new year.
"Looking ahead, Byrna's opportunity extends beyond launchers. We are building a broader personal safety platform that includes new products, subscription-based offerings such as ByrnaCare™, and ongoing innovation. We believe we are only beginning to penetrate a large and expanding market, creating a strong foundation for long-term growth."
Conference CallThe Company's management will host a conference call today, October 9, 2025, at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss these results, followed by a question-and-answer period.
Toll-Free Dial-In: 877-709-8150International Dial-In: +1 201-689-8354Confirmation: 13756023
Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the Investor Relations section of Byrna's website.
About Byrna Technologies Inc.Byrna is a personal defense technology company specializing in the development, manufacture, and sale of innovative less-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® CL, Byrna® LE and Byrna® SD personal security devices, state-of-the-art handheld CO2 powered launchers designed to provide a less-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," or "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 our expected revenue growth during fiscal year 2025, the expected scale and impacts of Byrna's recent advertising initiatives, including its AI-based advertising and placements with MLB and NFL platforms, expectations regarding the scale, timing and benefits of service-based offerings in the future, expected web traffic growth for Q4 2025, expected growth in margins for the Byrna CL, Byrna's expectations regarding sales at its retail stores, and expectations regarding consumer sentiment and seasonal sales variations. 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 our supply chain; the further or prolonged disruption of new product or service development; production or distribution disruption or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased transportation costs or interruptions, including due to weather, flooding or fires; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels, including Amazon, not to carry or reduce inventory of the Company's products; determinations by advertisers or social media platforms, or legislation that prevents or limits marketing of some or all Byrna products; the loss of marketing partners; increases in marketing expenditure may not yield expected revenue increases; 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 or manufacturing 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 and the implementation or change in tariffs; 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 and Part II, Item 1A ("Risk Factors") in the Company's most recent Form 10-Q, 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,
-Financial Tables to Follow-
BYRNA TECHNOLOGIES INC.Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)(Amounts in thousands except share and per share data)(Unaudited)
For the Three Months Ended
For the Nine Months Ended
August 31
August 31
2025
2024
2025
2024
Net revenue
$
28,179
$
20,854
$
82,874
$
57,777
Cost of goods sold
11,257
7,842
32,464
22,566
Gross profit
16,922
13,012
50,410
35,211
Operating expenses
14,059
12,184
42,525
32,633
INCOME FROM OPERATIONS
2,863
828
7,885
2,578
OTHER INCOME (EXPENSE)
Foreign currency transaction loss
(91
)
(103
)
(305
)
(381
)
Interest income
97
281
400
883
Income from joint venture
-
(62
)
-
(42
)
Other income
(6
)
3
