Byrna Technologies Reports Remarkable Growth in Q3 2024
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Byrna Technologies Achieves Record Growth in Q3 2024
Company Surpasses Previous Annual Sales Record in First Nine Months, Year-to-Date Revenues Total $57.7 Million
Q3 Production Totals Over 55,000 Units
Byrna Technologies Inc. (Nasdaq: BYRN), a leader in less-lethal personal security solutions, has reported impressive preliminary financial results for the third quarter of fiscal 2024. The company has achieved a remarkable revenue of $20.8 million, which signifies a staggering 194% increase from $7.1 million in the same quarter of the prior year.
This exceptional growth can be attributed to Byrna's successful marketing strategies and a significant boost in both Direct-to-Consumer sales as well as strong dealer and distributor sales. Additionally, Byrna has ramped up production, resulting in over 55,000 units of its Byrna SD and Byrna LE launchers manufactured during the quarter. This increase in production supports Byrna’s monthly target of 18,000 launchers.
Record Sales Performance
In the fiscal third quarter, Byrna has demonstrated significant sales across various channels. For instance, sales from the web segment reached approximately $15.5 million, showing a 219.6% increase from the previous year. Meanwhile, dedicated dealers and traditional dealers accounted for $1.5 million and $2.4 million respectively, reflecting impressive growth rates of 146.1% and 113.5% year-over-year.
Next Steps for Byrna Technologies
The company is set to provide its comprehensive financial results in October, alongside a conference call tailored for investors and analysts to discuss the findings, highlight future strategies, and answer any questions. This proactive approach illustrates Byrna’s commitment to transparency and engagement with its stakeholders.
Byrna continues to solidify its position in the market for innovative personal security solutions, evidenced by the impressive production and sales metrics. As it heads towards the end of the fiscal year, Byrna is expected to maintain its upward trajectory, addressing increasing consumer demand while expanding its market reach.
Investor Contact Information
For more details about Byrna Technologies, please get in touch with Tom Colton and Alec Wilson from Gateway Group, Inc. at 949-574-3860 or email them at BYRN@gateway-grp.com.
Frequently Asked Questions
What is Byrna Technologies known for?
Byrna Technologies Inc. specializes in developing and manufacturing less-lethal personal security solutions, offering innovative alternatives for security needs.
What were Byrna’s revenue results for Q3 2024?
The preliminary revenue reported for Q3 2024 was $20.8 million, marking a 194% increase from the same period in the previous year.
How many units did Byrna produce in Q3 2024?
In the third quarter of fiscal 2024, Byrna produced over 55,000 launchers, a significant achievement in line with its increased production goals.
What future events does Byrna Technologies have planned?
Byrna plans to release its complete financial results for Q3 in October and will conduct a conference call to discuss the outcomes and future plans.
How can investors learn more about Byrna Technologies?
Investors can access more information about Byrna Technologies by contacting the investor relations group or visiting the company’s official communications.
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