Byrna Technologies sees Q1 revenue $16.7M, consensus $15.64M

Management commented, “With Q1 revenues of $16.7M, we’ve achieved an all-time record sales quarter for Byrna, eclipsing the previous record of $16.0M in sales in Q4 of 2022. This achievement is particularly remarkable given that Q1 is traditionally our slowest. Q1 2023 sales came in at just $8.4M, and this was prior to the social media advertising ban that took effect in March of last year. This context underscores the impressive 98% growth we’ve realized year-over-year. Looking forward, we remain cautiously optimistic. While we do not know whether we will be able to maintain such rapid growth throughout 2024, the effectiveness of the celebrity endorsement strategy that we adopted in Q4 2023 is impressive so far, boosting direct-to-consumer sales by more than 100% and contributing to a 44% increase in dealer sales year-over-year. In addition, our efforts to explore new channels and new ways to share the Byrna story and educate the public on the benefits of less lethal and the Byrna platform are ongoing”.