Byrna Technologies Reports Record Growth in 2024

Byrna Technologies Inc Us ( (BYRN) ) has released its Q4 earnings. Here is a breakdown of the information Byrna Technologies Inc Us presented to its investors.

Byrna Technologies Inc. is a personal defense technology company that specializes in developing, manufacturing, and selling innovative less-lethal personal security solutions. The company operates primarily in the personal security sector.

In its latest earnings report, Byrna Technologies announced record financial results for the fiscal fourth quarter and full year of 2024. The company achieved significant revenue growth, driven by a strategic shift in advertising and an increase in direct-to-consumer sales.

Key financial highlights include a more than 100% increase in full-year revenues, reaching $85.8 million, and a net income of $12.8 million, which marks a $21.0 million improvement from the prior year. The company also reported significant growth in gross profit margins, supported by cost reduction efforts and economies of scale. Additionally, Byrna expanded its production capabilities and retail footprint, including new manufacturing facilities and store openings.

Byrna’s strategic initiatives, including partnerships and a focus on domestic manufacturing, underscore its commitment to growth and market expansion. The company has successfully leveraged a celebrity influencer program to enhance brand awareness and has made strides in retail expansion through partnerships and company-owned stores.

Looking ahead, Byrna Technologies is optimistic about its growth trajectory, focusing on expanding its market presence and enhancing production efficiency. The company aims to capitalize on the growing demand for less-lethal personal defense solutions, both domestically and internationally, as it continues to develop its marketing and retail strategies.