Byrna Technologies (BYRN) AI Stock Analysis

• Market Cap: $627.31M
• Dividend Yield: N/A
• Average Volume (3M): 590.78K
• Price to Earnings (P/E): 39.3
• Beta (1Y): 1.37
• Revenue Growth: 50.99%
• EPS Growth: 612.36%
• Country: US
• Employees: 167
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 0.09
• Shares Outstanding: 22,703,814
• 10 Day Avg. Volume: 773,587
• 30 Day Avg. Volume: 590,776
• PEG Ratio: -0.13
• Price to Book (P/B): 8.00
• Price to Sales (P/S): 5.07
• P/FCF Ratio: 46.32
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 4.38
• Enterprise Value/Gross Profit: 7.14
• Enterprise Value/Ebitda: 37.35
• 1Y Price Target: $39.00
• Price Target Upside: 47.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 67 Neutral
• Price Target: $30.00 ▲(13.81% Upside)

Byrna Technologies' overall stock score is driven by strong financial performance and positive earnings call insights, highlighting significant revenue growth and strategic advancements. However, technical analysis indicates overbought conditions, and valuation concerns due to a high P/E ratio and lack of dividend yield slightly dampen the score.

Positive Factors

Revenue Growth

The 35% YoY revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion and stability.

Retail and Advertising Expansion

Expanding retail presence and successful advertising campaigns enhance market visibility and customer reach, driving sustainable revenue growth.

Product Innovation

Innovating new products diversifies revenue streams and strengthens competitive positioning, crucial for long-term growth in the defense sector.

Negative Factors

Cash Flow Challenges

Negative operating cash flow indicates potential liquidity issues, which could hinder the company's ability to invest in growth and manage operations effectively.

Decreased Cash Position

A reduced cash position limits financial flexibility, potentially impacting the company's ability to respond to market opportunities and challenges.

Increased Operating Expenses

Rising operating expenses could pressure profit margins, necessitating improved cost management to maintain profitability and competitive edge.

Byrna Technologies Business Overview & Revenue Model

Company Description

Byrna Technologies Inc., a less-lethal defense technology company, develops and manufactures less-lethal munitions. It offers a Byrna line of handheld personal security devices, including the Byrna SD and Byrna SD .68 caliber handheld personal security devices that are designed to be used by civilians and private security professionals, as well as Byrna HD magazines, shoulder-fired launchers, and projectiles. The company also offers accessories and related safety products, including the Byrna Banshee, Byrna Shield, compressed carbon dioxide canisters, sighting systems, holsters, and Byrna-branded apparels. It operates in the United States and South Africa. The company was formerly known as Security Devices International, Inc. and changed its name to Byrna Technologies Inc. in March 2020. Byrna Technologies Inc. was incorporated in 2005 and is headquartered in Andover, Massachusetts.

How the Company Makes Money

Byrna Technologies generates revenue through the sale of its non-lethal personal defense products, primarily the Byrna HD launcher and its associated projectiles and accessories. The company has established a direct-to-consumer sales model through its e-commerce platform, as well as partnerships with retail distributors, which broadens its market reach. In addition to product sales, Byrna may also explore revenue streams through licensing agreements and collaborations with law enforcement and security agencies, providing customized solutions and training programs. The growing emphasis on personal safety and self-defense in various sectors, alongside the increasing demand for non-lethal options in law enforcement, contributes significantly to Byrna's earnings.

Byrna Technologies Financial Statement Overview

Summary

Byrna Technologies demonstrates strong revenue growth and profitability, supported by a stable balance sheet with low leverage. However, cash flow challenges, particularly negative operating cash flow, pose potential liquidity risks. Continued focus on operational efficiency and cash flow management will be crucial for sustaining growth and financial health.

Income Statement

Byrna Technologies shows a strong revenue growth rate of 7.08% TTM, with improving profitability metrics. The gross profit margin is robust at 61.32%, indicating efficient cost management. The net profit margin of 14.43% TTM reflects a healthy bottom line. However, the EBIT margin of 8.22% suggests room for improvement in operational efficiency.

Balance Sheet

The company's balance sheet is stable, with a low debt-to-equity ratio of 0.039 TTM, indicating low leverage and financial risk. The return on equity is strong at 27.29% TTM, showcasing effective use of equity to generate profits. The equity ratio of 80.38% TTM highlights a solid capital structure. However, maintaining this low leverage while improving asset utilization could enhance financial stability.

Cash Flow

Cash flow analysis reveals challenges, with negative operating cash flow of -$4.24 million TTM. Despite this, the free cash flow growth rate is positive at 28.18% TTM, indicating potential for future cash generation. The free cash flow to net income ratio of 2.61 TTM suggests efficient conversion of profits into cash, but the negative operating cash flow coverage ratio highlights liquidity concerns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	110.85M	85.76M	42.64M	48.04M	42.16M	16.57M
Gross Profit	67.97M	52.77M	23.65M	26.28M	22.89M	7.51M
EBITDA	12.99M	8.16M	-6.53M	-6.88M	-2.80M	-11.03M
Net Income	16.00M	12.79M	-8.19M	-7.88M	-3.28M	-12.55M
Balance Sheet
Total Assets	78.56M	71.92M	52.31M	57.05M	75.31M	21.22M
Cash, Cash Equivalents and Short-Term Investments	9.00M	25.73M	20.50M	20.07M	56.31M	3.18M
Total Debt	2.43M	2.64M	1.90M	2.55M	1.09M	1.28M
Total Liabilities	15.42M	17.55M	9.99M	11.05M	9.22M	12.81M
Stockholders Equity	63.14M	54.37M	42.32M	45.99M	66.10M	8.41M
Cash Flow
Free Cash Flow	-11.06M	9.39M	2.99M	-17.08M	-6.28M	1.03M
Operating Cash Flow	-4.24M	11.74M	3.89M	-13.83M	-4.44M	2.54M
Investing Cash Flow	-9.26M	-11.23M	-2.98M	-5.14M	-5.88M	-2.00M
Financing Cash Flow	-529.00K	-4.55M	-422.00K	-17.04M	57.25M	7.77M

Byrna Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 26.36
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYRN, the sentiment is Positive. The current price of 26.36 is above the 20-day moving average (MA) of 22.15, above the 50-day MA of 21.06, and above the 200-day MA of 24.27, indicating a bullish trend. The MACD of 1.13 indicates Negative momentum. The RSI at 68.67 is Neutral, neither overbought nor oversold. The STOCH value of 71.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BYRN.

Byrna Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYRN	67 Neutral	$627.31M	39.33	29.71%	―	50.99%	612.36%
RGR	66 Neutral	$750.24M	150.13	1.88%	1.49%	3.31%	-82.99%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SWBI	55 Neutral	$456.72M	37.99	3.27%	5.26%	-7.25%	-63.58%
POWW	49 Neutral	$183.86M	―	-17.71%	―	-11.01%	-279.70%
PEW	48 Neutral	$150.16M	31.44	1.80%	―	―	-17.50%
EVEX	43 Neutral	$1.44B	―	-320.52%	―	―	-30.78%

Byrna Technologies Corporate Events

Byrna Technologies Expands Board with Strategic Appointments

On September 4, 2025, Byrna Technologies Inc. expanded its Board of Directors from five to seven members, appointing Adam L. Roth and TJ Kennedy to fill the new positions. Roth, a former Nike executive, and Kennedy, a veteran in public safety technology, bring significant expertise in brand building and public safety to Byrna. These appointments are expected to enhance Byrna’s consumer reach and strengthen its position in the security and public safety markets, reflecting the company’s strategic focus on growth and market expansion.

Byrna Technologies Reports Strong Sales During Prime Day

Byrna Technologies reported significant sales momentum during Amazon’s Prime Day and the July 4th holiday promotional period, with Amazon Prime Day sales increasing by 28% year-over-year and Byrna.com sales rising by 18%. This growth is part of a broader trend of increasing consumer demand for Byrna’s products, including the newly released Compact Launcher (CL), and reflects the company’s expanding presence in both e-commerce and retail channels. Byrna’s retail footprint has grown substantially, with products now available in 289 chain store locations, a 74% increase from the previous year, and plans to expand to over 500 locations by the end of Q3 2025. The company’s strategy to enhance brand visibility in the personal safety market includes further investments in television advertising and partnerships with celebrity influencers.

Byrna Technologies Updates Investor Presentation

Byrna Technologies Inc. has updated its investor presentation, which may be used in future investor meetings. The information provided in the presentation is not considered filed under the Securities Exchange Act of 1934 and is not subject to the liabilities of that section.