BYRN

MKT CAP:$139M

Byrna Technologies Inc.

Market Cap

$139M

Industrials·Aerospace & Defense·🇺🇸 United States·NASDAQ

Industrials·Aerospace·🇺🇸·NASDAQ

Stock Price

$6.23-$10.49 (-62.74%)

Apr 22, 2026

Company Details

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 perso...

CEO

Conn Davis

IPO Date

Sep 12, 2006

Website

www.byrna.com

Key Metrics TTM

Revenue

$121M

+27.0% YoY

Net Income

$9M

EPS (Diluted)

$0.36

Free Cash Flow

-$8M

Revenue / Share

$5.08

Gross Margin

60.3%

Operating Margin

9.4%

Net Margin

7.3%

FCF Margin

-6.5%

P/S

1.2x

P/E

15.8x

Earnings Reports

Q1 2026

Apr 9, 2026

$29M+10.9%EPS $0.03

FY 2025

Feb 5, 2026

$118M+37.7%EPS $0.40

Q4 2025

Feb 5, 2026

$35M+26.0%EPS $0.14

Q3 2025

Oct 9, 2025

$28M+35.1%EPS $0.09

Q2 2025

Jul 10, 2025

$29M+40.6%EPS $0.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$12M	$6M	-$3M
Q3 22	$12M	$7M	-$1M
Q4 22	$16M	$9M	-$25.0K
Q1 23	$8M	$5M	-$2M
Q2 23	$12M	$6M	-$992.0K
Q3 23	$7M	$3M	-$4M
Q4 23	$16M	$9M	-$870.0K
Q1 24	$17M	$10M	-$164.0K
Q2 24	$20M	$13M	$2M
Q3 24	$21M	$13M	$828.0K
Q4 24	$28M	$18M	$4M
Q1 25	$26M	$16M	$2M
Q2 25	$29M	$18M	$3M
Q3 25	$28M	$17M	$3M
Q4 25	$35M	$21M	$4M
Q1 26	$29M	$17M	$1M

Valuation

Quarter	P/S	P/E
Q2 22	4.6x	—
Q3 22	4.5x	—
Q4 22	3.7x	—
Q1 23	3.5x	—
Q2 23	2.1x	—
Q3 23	1.8x	—
Q4 23	3.0x	—
Q1 24	5.2x	—
Q2 24	4.1x	—
Q3 24	3.4x	109.9x
Q4 24	4.9x	32.6x
Q1 25	5.7x	37.8x
Q2 25	6.0x	41.7x
Q3 25	4.3x	29.8x
Q4 25	3.5x	42.4x
Q1 26	2.4x	33.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	-$4M	-$7M
Q3 22	-$601.0K	-$870.0K
Q4 22	-$1M	-$130.0K
Q1 23	-$3M	-$4M
Q2 23	$1M	$1M
Q3 23	-$1M	-$1M
Q4 23	$8M	$7M
Q1 24	$4M	$4M
Q2 24	$2M	$1M
Q3 24	-$1M	-$2M
Q4 24	$7M	$6M
Q1 25	-$4M	-$6M
Q2 25	-$5M	-$6M
Q3 25	-$2M	-$5M
Q4 25	$10M	$8M
Q1 26	-$4M	-$5M

Capital Expenditures

Quarter	CapEx
Q2 22	$3M
Q3 22	$269.0K
Q4 22	$912.0K
Q1 23	$206.0K
Q2 23	$58.0K
Q3 23	$194.0K
Q4 23	$561.0K
Q1 24	$171.0K
Q2 24	$522.0K
Q3 24	$689.0K
Q4 24	$965.0K
Q1 25	$3M
Q2 25	$939.0K
Q3 25	$2M
Q4 25	$2M
Q1 26	$621.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-13.3%	+25.1%
Q3 22	+42.7%	+31.6%
Q4 22	+43.5%	+12.5%
Q1 23	+5.4%	-8.6%
Q2 23	-1.0%	-12.2%
Q3 23	-43.0%	-19.0%
Q4 23	-2.4%	+2.9%
Q1 24	+98.0%	+61.6%
Q2 24	+76.1%	+46.8%
Q3 24	+194.3%	+78.9%
Q4 24	+78.9%	+44.7%
Q1 25	+57.3%	+45.6%
Q2 25	+40.6%	+37.2%
Q3 25	+35.1%	+26.4%
Q4 25	+26.0%	+31.0%
Q1 26	+10.9%	+13.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$800.0K	6.9%
Q3 22	$1M	10.3%
Q4 22	$1M	8.5%
Q1 23	$1M	17.4%
Q2 23	$1M	12.9%
Q3 23	$2M	24.5%
Q4 23	$686.0K	4.4%
Q1 24	$938.0K	5.6%
Q2 24	$900.0K	4.4%
Q3 24	$819.0K	3.9%
Q4 24	$788.0K	2.8%
Q1 25	$840.0K	3.2%
Q2 25	$700.0K	2.5%
Q3 25	$735.0K	2.6%
Q4 25	$774.0K	2.2%
Q1 26	$535.0K	1.8%

OpEx Breakdown

Quarter	G&A	S&M
Q3 25	$10M	$4M

Revenue Segments

Quarter	Product	Royalty
Q2 25	$28M	$808.0K
Q3 25	$28M	$314.0K
Q1 26	$29M	$228.0K

Revenue by Geography

Quarter	Canada	South Africa	United States
Q1 23	$261.0K	$33.0K	$8M
Q3 23	$154.0K	$115.0K	$7M
Q4 23	$388.0K	$76.0K	$15M
Q1 24	$536.0K	$63.0K	$16M
Q3 24	$725.0K	$53.0K	$19M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$26M	$0	$26M
Q3 22	$24M	$0	$24M
Q4 22	$20M	$0	$20M
Q1 23	$14M	$0	$14M
Q2 23	$15M	$0	$15M
Q3 23	$14M	$0	$14M
Q4 23	$20M	$0	$20M
Q1 24	$24M	$0	$24M
Q2 24	$25M	$0	$25M
Q3 24	$20M	$0	$20M
Q4 24	$17M	$9M	$26M
Q1 25	$8M	$12M	$19M
Q2 25	$7M	$6M	$13M
Q3 25	$6M	$3M	$9M
Q4 25	$14M	$2M	$15M
Q1 26	$7M	$2M	$9M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	23M	-2.9%	+21.6%
Q3 22	22M	-5.8%	-1.3%
Q4 22	21M	-1.9%	-9.8%
Q1 23	22M	+2.4%	-8.1%
Q2 23	22M	+0.0%	-5.3%
Q3 23	22M	+0.4%	+1.0%
Q4 23	22M	+0.1%	+3.1%
Q1 24	23M	+3.9%	+4.5%
Q2 24	24M	+3.9%	+8.5%
Q3 24	23M	-1.4%	+6.6%
Q4 24	24M	+1.5%	+8.0%
Q1 25	24M	+1.4%	+5.5%
Q2 25	24M	-0.6%	+0.9%
Q3 25	24M	+0.6%	+3.0%
Q4 25	24M	-0.4%	+1.1%
Q1 26	24M	-0.8%	-1.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$76.4K	152
Q3 22	$81.7K	152
Q4 22	$104.0K	154
Q1 23	$54.6K	154
Q2 23	$74.7K	154
Q3 23	$46.0K	154
Q4 23	$147.5K	106
Q1 24	$157.1K	106
Q2 24	$191.2K	106
Q3 24	$196.7K	106
Q4 24	$167.5K	167
Q1 25	$156.8K	167
Q2 25	$170.7K	167
Q3 25	$168.7K	167
Q4 25	$221.7K	159
Q1 26	$182.7K	159

Revenue / Employee