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BYRN Nasdaq· Byrna Technologies Inc.
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BYRN Nasdaq· Byrna Technologies Inc.
Earnings report Q4 2023

BYRN Reports Slower Revenue Growth in Latest Quarter

Segments of Revenue

In the latest quarter, BYRN reported a slower revenue growth compared to previous years. The company's revenue is primarily generated from the sales of their handheld personal security devices, known as the Byrna line. However, the long-term adoption of these products by the U.S. consumer market and other potential markets, such as law enforcement, private security, and international markets, remains uncertain.

Strengths

Despite the slower revenue growth, BYRN has achieved notable success in generating revenue from their handheld personal security devices. The company's products have gained attention and demand levels have been volatile due to unexpected publicity and civil unrest. Management comments suggest that the revenue growth achieved in the past may not be indicative of future operating results, emphasizing the need for sustained revenue growth.

Challenges

BYRN faces several challenges that have impacted their financial performance. The company has experienced product development and production delays, resulting in unanticipated costs associated with the development and manufacture of new products. Additionally, material and component availability and costs, as well as air freight availability and costs, have posed challenges for BYRN. These factors have contributed to slower revenue growth and may continue to affect the company's financial condition.

Noteworthy

It is worth mentioning that BYRN's common stock is traded on the Nasdaq Capital Market in the United States and on the Canadian Securities Exchange (CSE) in Canada. As of February 1, 2024, there were 170 holders of record of BYRN's common stock. The company has not paid any cash dividends on their common shares to date and does not currently intend to do so in the future.

Summary

BYRN reported slower revenue growth in the latest quarter, primarily driven by uncertainties surrounding the long-term adoption of their handheld personal security devices. While the company has achieved success in generating revenue, challenges such as product development delays and unanticipated costs have impacted their financial performance. The company's management emphasizes the need for sustained revenue growth and cautions that past revenue growth may not be indicative of future operating results. Investors should closely monitor BYRN's ability to overcome these challenges and drive revenue growth in the coming quarters.

Source documents

Form 10-K  filed on Feb 14, 2024
78 pages scanned

Reference data

Company financials Q4 revenue 16.7M
Analyst estimates Q4 EPS missed by -222.38%
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