Byrna Technologies Reports Record Growth in Q3 2024
Company Exceeds Previous Annual Sales Record in First Nine Months, Year-to-Date Revenues Reach $57.7 Million
Q3 Production Exceeds 55,000 Units
Byrna Technologies Inc. (Nasdaq: BYRN), a frontrunner in less-lethal personal security solutions, has announced impressive preliminary financial results for the third quarter of fiscal 2024. The company achieved a remarkable revenue of $20.8 million, reflecting an extraordinary 194% increase compared to $7.1 million during the same quarter last year.
This outstanding growth can be credited to Byrna's effective marketing strategies, along with a notable rise in both Direct-to-Consumer sales and robust dealer and distributor sales. Furthermore, Byrna has significantly increased production, manufacturing over 55,000 units of its Byrna SD and Byrna LE launchers in this quarter. This boost in production aligns with Byrna’s monthly target of producing 18,000 launchers.
Exceptional Sales Performance
In the third quarter of the fiscal year, Byrna showcased remarkable sales across multiple channels. For example, online sales reached approximately $15.5 million, demonstrating a 219.6% increase from the previous year. Additionally, dedicated dealers generated $1.5 million in sales, while traditional dealers contributed $2.4 million, reflecting impressive growth rates of 146.1% and 113.5% year-over-year, respectively.
Future Plans for Byrna Technologies
The company is scheduled to release its full financial results in October, along with a conference call specifically for investors and analysts to discuss the findings, outline future strategies, and address any inquiries. This proactive approach highlights Byrna’s dedication to transparency and engagement with its stakeholders.
Byrna continues to strengthen its position in the market for innovative personal security solutions, as evidenced by its impressive production and sales figures. As the fiscal year draws to a close, Byrna is poised to sustain its upward trajectory, meeting growing consumer demand while expanding its market presence.
Investor Contact Information
For further details about Byrna Technologies, please reach out to Tom Colton and Alec Wilson from Gateway Group, Inc. at 949-574-3860 or via email at BYRN@gateway-grp.com.
Frequently Asked Questions
What is Byrna Technologies known for?
Byrna Technologies Inc. specializes in creating and manufacturing less-lethal personal security solutions, providing innovative options for various security needs.
What were Byrna’s revenue results for Q3 2024?
For Q3 2024, Byrna reported preliminary revenue of $20.8 million, which is a 194% increase from the same quarter in the previous year.
How many units did Byrna produce in Q3 2024?
During the third quarter of fiscal 2024, Byrna produced over 55,000 launchers, marking a significant milestone in line with its increased production targets.
What future events does Byrna Technologies have planned?
Byrna is set to release its complete financial results for Q3 in October and will hold a conference call to discuss the results and future plans.
How can investors learn more about Byrna Technologies?
Investors can find more information about Byrna Technologies by contacting the investor relations team or visiting the company’s official communications channels.
