Business
Byrna Technologies Announces Record Preliminary Q3 2024 Results: Revenues Increase 194% Year-Over-Year, Exceed $20 Million
Company Surpasses Previous Annual Sales Record in First Nine Months, Year-to-Date Revenues Total $57.7 Million Q3 Production Totals Over 55,000 Units ANDOVER,
About this update from Byrna Technologies, Inc.
[{"type":"text","content":"Company Surpasses Previous Annual Sales Record in First Nine Months, Year-to-Date Revenues Total $57.7 Million Q3 Production Totals Over 55,000 Units ANDOVER, Mass., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a technology company, specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced select preliminary financial results for the fiscal third quarter ended August 31, 2024. Preliminary Third Quarter ResultsBased on preliminary unaudited results, the Company expects total revenue for the fiscal third quarter of 2024 to be $20.8 million compared to $7.1 million in the fiscal third quarter of 2023. This 194% increase in revenue was driven by both Direct-to-Consumer (DTC) as well as strong Dealer & Distributor sales. The Company attributes this record sales performance to the continued success of Byrna’s marketing strategies, including its celebrity endorsement campaign which it kicked off in the fourth fiscal quarter of 2023. Furthermore, the Company produced 55,000 Byrna SD and Byrna LE launchers in the fiscal third quarter. This achievement is part of Byrna’s previously announced plan to ramp up production volume to 18,000 launchers per month. Preliminary Fiscal Third Quarter 2024 Sales Breakdown: Q3 2024 vs. Q3 2023 Sales Channel ($ in 000s)Q3 2024 Q3 2023 % Increase / (Decrease) Web$15,508 $4,852 219.6% Byrna Dedicated Dealers$1,464 $595 146.1% Traditional Dealers$2,383 $1,116 113.5% Law Enforcement$538 $361 49.0% International$951 $161 490.7% Total Sales$20,844 $7,085 194.2% Conference CallByrna plans to report its full financial results for the fiscal third quarter in October, 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 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® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-leth...