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Byrna Technologies (BYRN)
NASDAQ:BYRN
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Earnings Data
Report Date
Feb 07, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.12Last Year’s EPS
-$0.04Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 09, 2024
|% Change Since: 72.16%
|Next Earnings Date:Feb 07, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Byrna's strong revenue growth and profitability driven by successful advertising strategies and expansion in retail and international markets. Despite increased operating expenses and fluctuations in inventory and cash, the overall performance and future outlook remain positive.Company Guidance
In the recent earnings call for Byrna Technologies, the company provided a comprehensive update on its financial performance and strategic initiatives for the fiscal third quarter of 2024. Byrna recorded a remarkable revenue increase of 194% year-over-year, reaching $20.9 million compared to $7.1 million in Q3 2023, largely driven by a successful shift in advertising strategy and celebrity endorsements. Gross profit also improved significantly to $13 million, with a gross margin of 62.4%, up from 44.6% in the previous year. Operating expenses rose to $12.2 million due to higher selling costs and increased marketing and payroll expenses. Despite this, Byrna achieved a net income of $1 million, a substantial improvement from a net loss of $4.1 million in the prior year. The company's adjusted EBITDA for the quarter was $1.9 million, contrasting with a negative $2.4 million in Q3 2023. Byrna also highlighted its strategic expansion into new markets, both domestically and internationally, and plans to enhance production capabilities in response to growing demand. The company ended the quarter with $20.1 million in cash and cash equivalents, no debt, and an inventory valued at $19.8 million. Looking ahead, Byrna anticipates continued growth, supported by a robust marketing strategy and new retail initiatives, with expectations of a 100% increase in full-year revenues.Record Revenue Growth
Net revenue for Q3 2024 was $20.9 million, a 194% increase from the $7.1 million reported in Q3 2023. For the first 9 months of 2024, net revenue totaled $57.8 million, up 114% from $27 million in the first 9 months of 2023.
Improved Gross Profit Margin
Gross profit for Q3 2024 was $13 million or 62.4% of net revenue, compared to $3.2 million or 44.6% of net revenue for Q3 2023. For the first 9 months of 2024, gross profit was $35.2 million or 60.9% of net revenue.
Shift to Profitability
Net income for Q3 2024 was $1 million, a $5.1 million improvement from a net loss of $4.1 million for Q3 2023. Adjusted EBITDA for Q3 2024 was $1.9 million, compared to a negative $2.4 million for Q3 2023.
Successful Advertising Strategy
Celebrity endorsement strategy drove a $10.5 million increase in direct-to-consumer revenues. The company maintained a minimum ROAS of at least 5x.
Expansion in Retail and International Markets
Byrna's retail presence increased, including partnerships with Bass Pro Shop and Cabela's. Internationally, Byrna expanded its reach in Latin America and Mexico.
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BYRN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BYRN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 09, 2024 | $17.17 | $14.41 | -16.07% |
| Jul 09, 2024 | $10.31 | $9.98 | -3.20% |
| Apr 05, 2024 | $13.76 | $13.21 | -4.00% |
| Feb 14, 2024 | $9.87 | $10.03 | +1.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Byrna Technologies (BYRN) report earnings?
Byrna Technologies (BYRN) is schdueled to report earning on Feb 07, 2025, TBA Not Confirmed.
What is Byrna Technologies (BYRN) earnings time?
Byrna Technologies (BYRN) earnings time is at Feb 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BYRN EPS forecast?
BYRN EPS forecast for the fiscal quarter 2024 (Q4) is $0.12.
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