Byrna Technologies Inc (BYRN) Q3 2024 Earnings Report

In Q3 2024, Byrna Technologies Inc (BYRN) reported a record revenue of $20.9 million, marking a remarkable 194% increase compared to $7.1 million in Q3 2023 and a 2.89% rise from the previous quarter. This significant growth is attributed to the successful implementation of a new advertising strategy, including celebrity endorsements, which has driven direct-to-consumer (DTC) sales to represent a staggering 74% of total sales. Cash on hand remains strong at approximately $20.1 million, supporting ongoing operational and expansion initiatives, including the introduction of new retail stores and product lines. Management remains optimistic about maintaining momentum, projecting significant growth in 2025 based on strategic marketing efforts and an expanding product range.