Byrna Technologies Inc. (BYRN) Q3 2025 Financial Results Summary
Release Date: October 9, 2025
Byrna Technologies Inc. (“Byrna” or the “Company”) reported its fiscal third quarter results for the period ended August 31, 2025. The company, known for its innovative less-lethal personal security solutions, demonstrated notable growth in various aspects of its operations. The highlights of the report are summarized as follows:
Fiscal Third Quarter 2025 Highlights
Operational Developments:
– Launched a new AI-supported advertising initiative, increasing Byrna’s ability to produce commercials quickly and cost-effectively.
– Expanded retail presence with Byrna products now available in over 1,000 brick-and-mortar locations across the U.S.
– Improved web traffic, with daily sessions on Byrna.com rising from 33,000 before the new advertising campaign to over 50,000 in August and averaging 58,000 in September.
– Introduced ByrnaCare™, a recurring service-based protection plan for Byrna launchers.
– Appointed new members to the Board of Directors, enhancing the company’s governance.
Fiscal Third Quarter 2025 Financial Results
- Net Revenue: Increased by 35% year-over-year to $28.2 million compared to $20.9 million in Q3 2024.
- Gross Profit: Grew to $16.9 million (60% of net revenue) from $13.0 million (62% of net revenue) in the previous year.
- Operating Expenses: Increased to $14.1 million from $12.2 million in Q3 2024, largely due to higher selling and marketing expenses.
- Net Income: Rose to $2.2 million from $1.0 million in Q3 2024, reflecting increased product sales and operational efficiencies.
- Adjusted EBITDA: Totaled $3.7 million, up from $1.9 million in Q3 2024.
Financial Position
- Cash and Cash Equivalents: $6.5 million as of August 31, 2025, decreased from $16.8 million at November 30, 2024, attributed to changes in working capital.
- Accounts Receivable: Recorded at $8.9 million, versus $2.6 million at November 30, 2024.
- Inventory: Totaled $34.1 million, increasing from $20.0 million at November 30, 2024, reflecting preparations for the holiday season and the rollout of the Compact Launcher.
- Long-term Debt: The company reported no current or long-term debt.
Management Insights
Bryan Ganz, Byrna’s CEO, remarked on the following:
– The significant 35% revenue growth is a testament to the effectiveness of Byrna’s growth strategies and brand strength.
– The implementation of advanced advertising techniques led to a marked increase in online engagement.
– The company’s ability to expand its retail footprint and introduce new products positions it well for ongoing growth, particularly as it enters the peak holiday shopping season.
– Byrna anticipates full-year revenue growth to range between 35% and 40% for fiscal 2025.
Shareholder Actions
- Dividends: No quarterly dividends were declared during this quarter.
- Share Repurchase: No share repurchase activities were mentioned.
Closing Remarks
Byrna Technologies shows a strong upward momentum in both revenue and operational metrics, positioning itself for promising growth in fiscal 2026 and beyond. The developments in its technology, product offerings, and marketing strategy provide a solid foundation for increasing market share in the personal defense technology sector.
For detailed financial tables and additional information, please refer to Byrna’s investor relations website.
| For the Three Months Ended | For the Nine Months Ended | |||
|---|---|---|---|---|
| August 31 | 2024 | August 31 | 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 | 10 | 7 |
| INCOME BEFORE INCOME TAXES | 2,863 | 947 | 7,990 | 3,045 |
| Income tax expense | (628) | 78 | (1,666) | 75 |
| NET INCOME (LOSS) | $ 2,235 | $ 1,025 | $ 6,324 | $ 3,120 |
| Foreign currency translation adjustment | 82 | 381 | 27 | 410 |
| Unrealized gain on marketable securities | (51) | – | 27 | – |
| COMPREHENSIVE INCOME (LOSS) | $ 2,266 | $ 1,406 | $ 6,378 | $ 3,530 |
| Basic net income (loss) per share | $ 0.10 | $ 0.05 | $ 0.28 | $ 0.14 |
| Diluted net income (loss) per share | $ 0.09 | $ 0.04 | $ 0.26 | $ 0.14 |
| Weighted-average number of common shares outstanding – basic | 22,691,574 | 22,758,155 | 22,649,525 | 22,509,018 |
| Weighted-average number of common shares outstanding – diluted | 24,103,760 | 23,410,159 | 24,147,430 | 23,072,498 |
| ASSETS | August 31 | November 30, |
|---|---|---|
| 2025 | 2024 | |
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 6,495 | $ 16,829 |
| Marketable Securities | 2,501 | 8,904 |
| Accounts receivable, net | 8,872 | 2,630 |
| Inventory, net | 34,106 | 19,972 |
| Prepaid expenses and other current assets | 5,402 | 2,623 |
| Total current assets | 57,376 | 50,958 |
| LONG TERM ASSETS | ||
| Deposits for equipment | 2,642 | 2,665 |
| Right-of-use-asset, net | 2,117 | 2,452 |
| Property and equipment, net | 6,780 | 3,408 |
| Intangible assets, net | 3,151 | 3,337 |
| Goodwill | 2,258 | 2,258 |
| Deferred tax asset | 4,187 | 5,837 |
| Other assets | 51 | 1,007 |
| TOTAL ASSETS | $ 78,562 | $ 71,922 |
| LIABILITIES | ||
| CURRENT LIABILITIES | ||
| Accounts payable and accrued liabilities | 12,698 | 13,108 |
| Operating lease liabilities, current | 672 | 539 |
| Deferred revenue, current | 249 | 1,791 |
| Total current liabilities | 13,619 | 15,438 |
| LONG TERM LIABILITIES | ||
| Deferred revenue, non-current | 40 | 17 |
| Operating lease liabilities, non-current | 1,760 | 2,098 |
| Total liabilities | 15,419 | 17,553 |
| STOCKHOLDERS’ EQUITY | ||
| Preferred stock | — | — |
| Common stock | 25 | 25 |
| Additional paid-in capital | 135,480 | 133,029 |
| Treasury stock | (21,308) | (21,253) |
| Accumulated deficit | (50,459) | (56,783) |
| Accumulated other comprehensive loss | (595) | (649) |
| Total Stockholders’ Equity | 63,143 | 54,369 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 78,562 | $ 71,922 |
