Byrna Technologies Reports Fiscal Second Quarter 2025 Results

Byrna Technologies Inc., a personal defense technology company specializing in less-lethal personal security solutions, has released its financial results for the fiscal second quarter ended May 31, 2025. The company reported significant growth in revenue and other key financial metrics, driven by new product launches and strategic partnerships.

Financial Highlights

Byrna Technologies reported a 41% year-over-year increase in net revenue for Q2 2025, reaching a record $28.5 million, up from $20.3 million in Q2 2024. The gross profit for the quarter was $17.6 million, maintaining a gross margin of 62%. Operating expenses rose to $14.2 million from $10.6 million in the previous year, primarily due to higher variable selling expenses, payroll costs, and increased marketing spend. Net income for the quarter was $2.4 million, compared to $2.1 million in Q2 2024. Adjusted EBITDA for Q2 2025 was $4.3 million, up from $2.8 million in the same period last year.

Business and Operational Highlights

During the quarter, Byrna launched the Byrna Compact Launcher (CL), a smaller version of its flagship product, which contributed significantly to the revenue growth. The company also expanded its store-within-a-store concept with Sportsman’s Warehouse, now operating in 12 stores with plans to add 10 more in the third quarter. Byrna's company-owned retail locations performed well, with five locations averaging $69,000 in sales during May. The Scottsdale location, in particular, showed strong performance, matching the sales run rate of the long-established Las Vegas store.

Strategic Initiatives and Corporate Developments

Byrna added Tucker Carlson to its roster of celebrity influencers to boost brand awareness and promote less-lethal solutions. The company also integrated AI tools into its content production to enhance marketing reach and creative testing. Operationally, Byrna adjusted its production to align with current demand, maintaining a steady production pace of 15,000 units per month.

Management's Perspective

CEO Bryan Ganz highlighted the successful launch of the Byrna CL and the company's ability to achieve record revenue despite overall softness in consumer spending. He emphasized the growing importance of the dealer channel, supported by the partnership with Sportsman’s Warehouse, and the strong performance of company-owned stores. Ganz also noted the initial positive impact of adding Tucker Carlson as a celebrity influencer and the benefits of integrating AI tools into marketing efforts.

Future Outlook

Looking ahead, Byrna expects the Byrna CL to become a larger part of its sales mix, especially with its availability on Amazon. The company plans to continue expanding its retail presence and anticipates strong year-over-year growth in the second half of the year. Byrna also expects its cash position to improve as inventory levels normalize over the coming quarters.

SEC Filing: Byrna Technologies Inc. [ BYRN ] - 8-K - Jul. 10, 2025