Business
BYRNA TECHNOLOGIES REPORTS FISCAL YEAR 2021 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS
REVISES FULL YEAR GUIDANCE TO $55 TO $60 MILLION ANDOVER, Mass., Feb. 11, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) ("Byrna", "the Company",
About this update from Byrna Technologies, Inc.
[{"type":"text","content":"REVISES FULL YEAR GUIDANCE TO $55 TO $60 MILLION\n\n\n ANDOVER, Mass., Feb. 11, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) (\"Byrna\", \"the Company\", \"we\" or \"us\") today announced financial results for its fiscal fourth quarter (Q4 FY21) and full year (FY 2021) ended November 30, 2021. \n\n \n \n \n \n \n \n\n \nFourth Quarter 2021 Highlights\nRevenues rose 1.2% to $11.2 million from $11.0 million in last year's fourth quarter Orders Received during Q4 rose 57.4% to $12.0 million in Q4 FY21 from $7.6 million in last year's fourth quarter (Q4 FY20) Gross profit increased by 16.4% to $5.7 million from $4.9 million in last year's fourth quarter Gross margin improved to 51.1% from 44.4% in last year's fourth quarter Average daily Byrna.com web sessions in Q4 FY 2021 topped 20,000 for the first time, up from 17,455 in the fiscal third quarter of 2021 (Q3 FY21) and 8,806 in Q4 FY20 Full Year 2021 Highlights\nRevenues rose 154.5% to $42.2 million from $16.6 million in fiscal year 2020 (FY 2020) Gross profit increased by 204.9% to $22.9 million from $7.5 million in FY 2020 Gross margin improved to 54.3% from 45.3% in FY 2020 Available cash of $56.3 million at November 30, 2021 FY 2021 Operational Achievements\nIntroduced Byrna SD Launcher Introduced the Eco-Kinetic (water soluble) practice round – the first truly environmentally friendly round in the less-lethal industry Started in-house production of Byrna Pepper and Byrna Max ammunition Daily Web Sessions on Byrna.com during Q4 exceeded 20,000/day for the first time (up from 17,445 in Q3 FY21 and 8,806 in Q4 FY20) Byrna shipped more than 88,000 orders in FY2021, up from 48,000 in FY2020 and just 968 orders in FY2019Fourth Quarter 2021 Results Overview \nRevenues for the quarter increased slightly (1.2%) to $11.2 million in Q4 FY21 from $11.0 million in Q4 FY20. Orders received during the quarter increased substantially, however, up 57.4% to $12.0 million in Q4 FY21 from $7.6 million in Q4FY20 as Q4 FY2020 sales included the fulfillment of $3.4 million of backorders received in prior quarters. \nGross profit rose to $5.7 million, or 51.1% of reported net revenue, in Q4 FY21 as compared to gross profit of $4.9 million, or 44.4% of net revenue, in Q4 FY20. The improvement in gross margin was helped by improved operating efficiencies at the factories and the introdu...