Business
Byrna Technologies Announces Preliminary Fiscal Fourth Quarter 2023 Revenues of $15.6 million
Surge in Web Sales Drives a 121% Quarter-Over-Quarter Revenue Increase ANDOVER, Mass., Dec. 19, 2023 /PRNewswire/ -- Byrna Technologies Inc. ("Byrna" or the
About this update from Byrna Technologies, Inc.
[{"type":"text","content":"Surge in Web Sales Drives a 121% Quarter-Over-Quarter Revenue Increase\nANDOVER, Mass., Dec. 19, 2023 /PRNewswire/ -- 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 preliminary expectations for the fiscal fourth quarter ended November 30, 2023 (\"Q4 2023\").\n\n \n \n \n \n \n \n\n \nBased on preliminary unaudited results, the Company expects revenues of approximately $15.6 million for Q4 2023, representing a 120% sequential increase from $7.1 million in the fiscal third quarter of 2023 (\"Q3 2023\") and a slight decrease of 2.7% from $16.0 million in the fiscal fourth quarter of 2022 (\"Q4 2022\"). However, excluding international sales, which are typically episodic in nature, Q4 2023 sales increased by 33% compared to the same period last year.\nThe sequential increase from Q3 2023 resulted primarily from the early success of the Company's revamped advertising strategy that began to take shape in September 2023. The new advertising strategy also drove significant year-over-year increases in Byrna.com, Byrna.ca, Amazon.com, and dealer/distributor sales, amounting to $1.70 million (23%), $0.25 million (202%), $1.25 million (70%), and $0.75 million (35%), respectively, and totaling $3.95 million. However, these improvements were offset by a lack of international sales in Q4 2023. By comparison, Byrna reported $4.3 million in international sales in Q4 2022.\nPreliminary Fiscal Fourth Quarter 2023 Sales Breakdown:\nQ4 2023 vs. Q4 2022\nSales Channel ($ in 000s)\nQ4 2023\nQ4 2022\n% Increase / (Decrease)\nByrna.com\n$ 9,170\n$7,471\n22.7 %\nAmazon\n$ 3,036\n$1,789\n69.7 %\nDealer/Distributor\n$ 2,850\n$2,108\n35.2 %\nFox Labs\n$ 312\n$348\n(10.3) %\nInternational (Outside USMCA)\n$ (163)\n$4,175\n(103.9) %\nCanada\n$ 386\n$128\n201.6 %\nTotal Sales\n$ 15,593\n$16,018\n(2.7) %\nTotal Sales Excluding International\n$ 15,755\n$11,844\n33.0 %\nHoliday Sales OverviewThe Company saw very strong demand during the extended Holiday Selling period, spanning from October 1st through Cyber Monday. This year, net orders on Byrna.com and Amazon totaled $10.2 million, up 48% from $6.9 million in the prior year period. Daily average web sessions increased 28.6% yea...