Byrna Technologies(NASDAQ) BYRN

Byrna makes handheld security devices for people who want non-lethal protection. Its products help civilians and security professionals avoid using firearms. Byrna’s tools offer a safer way to deter threats at home or work.

Gadgets, Gizmos, and Gear: Byrna’s Product Lineup

• Handheld Launchers: CO2-powered devices for personal defense, used by civilians and security professionals. Byrna SD and Byrna LE launchers, including their ammunition and accessories, represent most of Byrna's revenue in 2024.
• Shoulder-Fired Launchers: Tactical rifles for professional and training use, including the TCR and M-4 models.
• Projectiles: Chemical irritant and kinetic rounds, designed for use only with Byrna launchers.
• Aerosol Defense: Pepper spray products, including those from the Fox Labs acquisition.
• Accessories & Safety: Alarms, ballistic backpacks, CO2 canisters, holsters, and branded apparel.

Growth Spurts and Strategic Moves

• Acquired Fox Labs International (pepper spray) in 2022 to expand aerosol defense offerings.
• Acquired Mission Less Lethal in 2021, adding new shoulder-fired launchers.
• Launched Byrna LE and new projectiles in 2023; TCR and M-4 were introduced earlier.
• Expanded U.S. manufacturing in Indiana (2020, expanded 2022) and operate a facility in Pretoria, South Africa.
• Exited South American joint venture in August 2024, shifting to a licensing model.

Why Byrna Stands Out (Without Standing on a Soapbox)

Byrna’s products do not require a firearms license in most U.S. states, making them accessible to a wide audience. The company’s direct-to-consumer sales model supports recurring revenue from proprietary projectiles and accessories. In-house manufacturing in two countries helps manage supply chain risks and supports global distribution.

Five Things You Need to Know

• Revenue was $85.8 million in fiscal 2024, up 101.1% from 2023.
• Gross profit margin reached 61.5% in 2024, up from 55.5% in 2023.
• Direct website sales were $51.3 million in 2024, up 108.5% from 2023.
• International sales made up 8.0% of revenue in 2024, up from 6.8% in 2023.

Bottom Line

Byrna has grown by expanding its product range and direct sales channels. The company’s focus on non-lethal defense and recurring revenue positions it as a unique player in personal security.