Byrna Technologies Inc
NASDAQ:BYRN
Byrna Technologies Inc
Byrna Technologies, Inc. engages in the development and manufacturing of less lethal equipment and munitions. The company is headquartered in Andover, Massachusetts. The company went IPO on 2013-06-21. The company is focused on providing law enforcement and private security customers with non-lethal alternatives to firearms. Its product portfolio includes handheld personal security devices and shoulder-fired launchers designed for use by consumers and professional security customers; line of projectiles that are fired by Byrna devices, including chemical irritant, kinetic and inert rounds, accessories and related safety products, including the Byrna Banshee, Byrna Shield, compressed carbon dioxide (CO2) canisters, sighting systems, holsters and Byrna-branded apparel. The company offers Blunt Impact Projectile line of non-lethal munitions for 40-millimeter rifled launchers utilized by law enforcement, correctional services, and military customers. Its product Byrna Shield is a ballistic-rated backpack that can be fitted with multiple armor panels that utilize a deployment system to protect the wearer from both the front and back.
Byrna Technologies, Inc. engages in the development and manufacturing of less lethal equipment and munitions. The company is headquartered in Andover, Massachusetts. The company went IPO on 2013-06-21. The company is focused on providing law enforcement and private security customers with non-lethal alternatives to firearms. Its product portfolio includes handheld personal security devices and shoulder-fired launchers designed for use by consumers and professional security customers; line of projectiles that are fired by Byrna devices, including chemical irritant, kinetic and inert rounds, accessories and related safety products, including the Byrna Banshee, Byrna Shield, compressed carbon dioxide (CO2) canisters, sighting systems, holsters and Byrna-branded apparel. The company offers Blunt Impact Projectile line of non-lethal munitions for 40-millimeter rifled launchers utilized by law enforcement, correctional services, and military customers. Its product Byrna Shield is a ballistic-rated backpack that can be fitted with multiple armor panels that utilize a deployment system to protect the wearer from both the front and back.
Revenue Growth: Byrna reported Q4 revenue of $35.2 million, up 26% year-over-year, and full-year revenue of $118.1 million, up 38% from 2024.
Profitability: The company delivered both GAAP net income ($3.4 million in Q4) and adjusted EBITDA growth ($6 million in Q4).
Margin Outlook: Gross margins dipped slightly in Q4 due to product mix and startup costs, but management expects gross margin to reach 63–65% by end of 2026, supported by cost savings and recent price increases.
Retail Expansion: Byrna expanded from 200 to 900 chain store locations in 2025 and expects to grow to about 2,000 locations in 2026, with brick-and-mortar sales more than doubling.
New Products: Successful launch of the Compact Launcher (CL) drove growth; new CL XL model and accessories, including a Byrna cam, are launching in 2026.
Manufacturing & Cost Control: Moving ammunition production onshore and shifting to modular design are expected to reduce costs by around 40% for new products.
Strong Balance Sheet: Cash increased to $15.5 million at year-end, and the company secured a $20 million credit facility to support growth and potential acquisitions.
2026 Guidance: Management projects continued strong top-line growth, expanding profitability, and margin improvement, with Q1 expected to be seasonally down from Q4 but up year-over-year.
