Byrna Technologies (BYRN) AI Stock Analysis

• Market Cap: $375.82M
• Dividend Yield: N/A
• Average Volume (3M): 641.53K
• Price to Earnings (P/E): 33.5
• Beta (1Y): 1.16
• Revenue Growth: 87.26%
• EPS Growth: N/A
• Country: US
• Employees: 167
• Sector: Industrials
• Sector Strength: 70
• Industry: Aerospace & Defense
• EPS (TTM): 0.54
• Shares Outstanding: 22,667,234
• 10 Day Avg. Volume: 690,967
• 30 Day Avg. Volume: 641,533
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 4.81
• Price to Cash Flow (P/CF): 14.20
• P/FCF Ratio: 14.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $35.50
• Price Target Upside: 96.35% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

Byrna Technologies exhibits robust revenue growth and improving profitability, driven by strategic business expansions and operational efficiencies. The strong financial performance is slightly offset by liquidity concerns due to declining cash flows. Technical analysis suggests a bearish short-term trend, while valuation metrics indicate a relatively fair price. The positive earnings call sentiment supports the stock's outlook, with potential risks from increased operating expenses and tariff impacts.

Positive Factors

Financial Health

Byrna has a good balance sheet with ~$25mn in cash, no debt, and the ability to self-fund growth.

Market Potential

Byrna is viewed as a leader in non-lethal consumer products for self-defense, with a large potential addressable market and the ability to scale both category awareness and sales.

Negative Factors

Market Adoption Risks

Key risks include limited adoption or acceptance of less-lethal products among consumers and challenges in scaling marketing dollars or implementing the store growth strategy.

Byrna Technologies Business Overview & Revenue Model

Company Description

Byrna Technologies Inc. (BYRN) is a technology company focused on the development and manufacture of innovative non-lethal security solutions. Operating primarily in the personal security sector, Byrna's core products include non-lethal personal security devices such as the Byrna HD, a handheld personal security device that can launch chemical irritants and kinetic projectiles to deter potential threats. The company aims to provide effective self-defense options without the risks associated with lethal force, catering to consumers, law enforcement, and security professionals.

How the Company Makes Money

Byrna Technologies generates revenue primarily through the sale of its non-lethal personal security devices and related accessories. The key revenue streams include direct sales to consumers via their e-commerce platform, sales to retailers and distributors, and contracts with law enforcement agencies. Byrna also earns revenue from the sale of consumables, such as projectiles and chemical cartridges, which are used with their devices. The company leverages partnerships with retailers and distributors to expand its market reach and increase sales volume, while also focusing on direct-to-consumer sales to capture a larger share of the market.

Byrna Technologies Financial Statement Overview

Summary

Byrna Technologies has demonstrated strong financial performance across its income statement, balance sheet, and cash flow. The company achieved significant revenue growth of 101.14% and improved profitability with a net profit margin of 14.92%. The balance sheet is stable with minimal leverage, and the cash flow statement reflects robust cash generation. However, there is room for improvement in asset utilization.

Income Statement

Byrna Technologies has shown significant improvement in its income statement metrics. The company achieved a substantial revenue growth rate of 101.14% from 2023 to 2024, indicating strong top-line expansion. The gross profit margin improved to 61.53%, reflecting efficient cost management. Additionally, the net profit margin turned positive at 14.92%, demonstrating a successful turnaround in profitability. The EBIT and EBITDA margins have both improved, signaling enhanced operational efficiency.

Balance Sheet

The balance sheet of Byrna Technologies shows a solid financial position. The debt-to-equity ratio is low at 0.05, indicating minimal leverage and reduced financial risk. The return on equity (ROE) stands at 23.53%, highlighting strong profitability relative to equity. The equity ratio is 75.61%, suggesting a stable capital structure with a high proportion of assets funded by equity. Overall, the balance sheet reflects financial stability, though there is room for improvement in asset utilization.

Cash Flow

Byrna Technologies' cash flow metrics demonstrate positive cash generation capabilities. The free cash flow growth rate is robust at 214.05%, indicating improved cash efficiency. The operating cash flow to net income ratio is 0.92, showing a strong conversion of net income to cash. The free cash flow to net income ratio is 0.73, suggesting effective cash management. Overall, the cash flow statement reflects healthy cash generation, supporting the company's operational and strategic initiatives.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
85.76M	42.64M	48.04M	42.16M	16.57M
	Gross Profit
52.77M	23.65M	26.28M	22.89M	7.51M
	EBIT
6.67M	-7.79M	-7.46M	-3.29M	-4.31M
	EBITDA
6.67M	-6.53M	-6.88M	-2.80M	-11.03M
	Net Income Common Stockholders
12.79M	-8.19M	-7.88M	-3.28M	-12.55M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
25.73M	20.50M	20.07M	56.31M	3.18M
	Total Assets
71.92M	52.31M	57.05M	75.31M	21.22M
	Total Debt
2.64M	1.90M	2.55M	1.09M	1.28M
	Net Debt
-14.19M	-18.60M	-17.52M	-55.21M	-1.90M
	Total Liabilities
17.55M	9.99M	11.05M	9.22M	12.81M
	Stockholders Equity
54.37M	42.32M	45.99M	66.10M	8.41M
Cash Flow		Free Cash Flow
9.39M	2.99M	-17.08M	-6.28M	1.03M
	Operating Cash Flow
11.74M	3.89M	-13.83M	-4.44M	2.54M
	Investing Cash Flow
-11.23M	-2.98M	-5.14M	-5.88M	-2.00M
	Financing Cash Flow
-4.55M	-422.00K	-17.04M	57.25M	7.77M

Byrna Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYRN, the sentiment is Negative. The current price of 18.08 is above the 20-day moving average (MA) of 17.41, below the 50-day MA of 22.91, and below the 200-day MA of 18.70, indicating a neutral trend. The MACD of -2.31 indicates Negative momentum. The RSI at 30.05 is Neutral, neither overbought nor oversold. The STOCH value of 16.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BYRN.

Byrna Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CDRE	74 Outperform	$1.23B	33.73	14.21%	1.18%	17.62%	-12.37%
BYRN	73 Outperform	$375.82M	33.52	28.88%	―	87.26%	―
RGR	70 Outperform	$639.14M	21.55	9.39%	1.83%	-1.49%	-34.38%
Sector *	62 Neutral	$7.50B	12.89	3.19%	3.38%	3.64%	-14.27%
SWBI	59 Neutral	$392.50M	13.72	8.05%	5.83%	-5.77%	14.45%
NPK	58 Neutral	$593.77M	14.29	11.45%	1.20%	13.88%	19.64%
POWW	48 Neutral	$156.76M	―	-4.37%	―	-14.06%	-102.73%