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Byrna Technologies Announces Record Preliminary Q2 2024 Results: Revenues Exceed $20 Million; Q2 Production Totals Over 48,000 Units
ANDOVER, Mass., June 05, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a technology company, specializing in the
About this update from Byrna Technologies, Inc.
[{"type":"text","content":"ANDOVER, Mass., June 05, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative non-lethal personal security solutions, today announced select preliminary financial results for the fiscal second quarter ended May 31, 2024. Preliminary Second Quarter ResultsBased on preliminary unaudited results, the Company expects total revenue for the fiscal second quarter of 2024 to be $20.3 million compared to $11.5 million in the fiscal second quarter of 2023. This 76% increase in revenue was seen across all consumer channels including Direct-to-Consumer (DTC), Amazon, Dealer, and Fox Labs. The Company attributes this surge in sales to the success of Byrna’s new marketing strategies, including its celebrity endorsement campaign which it kicked off in Q4 of the previous year. Furthermore, the Company produced 18,601 Byrna SD and Byrna LE launchers in the month of May alone, contributing to a total of 48.6 thousand units produced in the fiscal second quarter. This achievement is part of Byrna’s previously announced plan to ramp up production volume to 18,000 launchers per month. With this increase in production, Byrna expects to be able to work through its current backlog during the month of June and resume fulfilling orders within 48 hours of receipt. Preliminary Fiscal Second Quarter 2024 Sales Breakdown: Q2 2024 vs. Q2 2023Sales Channel ($ in 000s)Q2 2024Q2 2023% Increase / (Decrease)Byrna.com$11,379$5,75897.6%Amazon$3,214$1,082197.0%Dealer/Distributor$3,447$2,78523.8%Fox Labs$386$27241.9%Canada$555$33665.2%Mexico$88$15486.7%International (Outside USMCA)$1,225$1,260-2.8%Total Sales$20,294$11,50876.3% Conference CallByrna plans to report its full financial results for the fiscal second quarter in July, which will be accompanied by a conference call to discuss the results and address questions from investors and analysts. The conference call details will be announced prior to the event. About Byrna Technologies Inc.Byrna is a technology company specializing in the development, manufacture, and sale of innovative non-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 Byrn...