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Byrna Technologies Inc

Byrna Technologies Inc

BYRN
$3.62USD↑+2.55%+0.09 today

MARKET CAP

84.7M

P/E (TTM)

10.1x

FWD P/E

—

DAY RANGE

$4 – $4

52W RANGE

$3
$31

AI Summary

Stalk
StalkMedium

BYRN is in an early Stage 1 consolidation after a terminal decline, with repaired 9/21 EMAs holding as support. The active Post-Capitulation pattern indicates selling pressure exhaustion and supply absorption at the lows, setting the stage for a potential recovery. However, the long-term downtrend remains intact, so the medium-term bias is cautiously bullish. We will look to enter on pullbacks into the 9/21 EMA region once consolidation holds.

  • ↑Board additions, including a retired Army Brigadier General, to sharpen marketing strategy.
  • ↑Short interest at 0.4 indicates limited bearish sentiment and potential price upside.
  • ↓Q2 revenue fell 42% year-over-year to $16.4 million, undercutting prior guidance.
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The case for & against

Bull & Bear analysis

Bearish

Byrna Technologies, Inc. (NASDAQ: BYRN) is a leading developer and marketer of less lethal personal safety products, predominantly operating within the e-commerce and retail spaces. The company aims to enhance consumer engagement and optimize operational efficiencies as it transitions its marketing structure to respond to evolving market dynamics. Byrna's product line focuses on self-defense options, addressing market trends surrounding personal safety, a critical need in contemporary society.

Bull says

  • ↑Board additions, including a retired Army Brigadier General, to sharpen marketing strategy.
  • ↑Short interest at 0.4 indicates limited bearish sentiment and potential price upside.
  • ↑Management expects Q4 holiday events to boost retail sales after a transition quarter.
  • ↑‘Try Before You Buy’ trials deliver ~30% conversion, aiding customer acquisition.
  • ↑High sensitivity to rising rates may enhance profitability in a higher-rate environment.
  • ↑Modest growth momentum factor suggests upside if strategic initiatives gain traction.

Bear says

  • ↓Q2 revenue fell 42% year-over-year to $16.4 million, undercutting prior guidance.
  • ↓Gross margin shrank to 11% from 62% due to a $3.6 million write-down.
  • ↓Net loss widened to $10.1 million versus a $2.4 million profit a year ago.
  • ↓Poor earnings yield and weak profitability factors limit return potential.
  • ↓Strong negative momentum and low institutional ownership weigh on sentiment.
  • ↓Elevated leverage risk and high inventory levels pressure working capital.

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Earnings Call · Q1 2024 · Mgmt. Guidance

Updated 02-08-2025neutral

Transcript signals

Bull points

  • Domestic revenue in the quarter totaled $15.4 million. That’s a 32% increase from Q4 of 2022, and it’s a quarterly record.
  • Gross profit for Q4 2023 was $9.0 million, or 58% of net revenue compared to $8.7 million or 54% of net revenue for Q4 of 2022. The increase in gross margin primarily resulted from a much smaller percentage of lower-margin international sales.
  • For the full year, operating expenses were $31.4 million, which is a decrease from $33.7 million in the previous year. This $2.3 million decrease was largely achieved through strategic realignments and cost optimizations in key areas.

Bear points

  • Net loss for Q4 2023 was negative $800,000 compared to a negative $100,000 for Q4 of 2022. And the increase in net loss was primarily due to the increase in marketing spend.
  • Net revenue for the full year totaled $42.6 million compared to $48.0 million for the prior year. This decline was, again, largely due to a $7.6 million decrease in international sales from South Africa, South America and Asia, which are characterized by large but infrequent orders, as experienced in the prior year.
  • 12 Gauge. That’s been disappointing.
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