Less lethal weapons are becoming a big business opportunity. And Byrna Technologies is on the leading edge of it.
What’s happening:
- Byrna Technologies (NASDAQ: BYRN) has announced $20.9M USD in revenue from their most recent quarter, which is their largest quarter of revenue ever
By the numbers:
- Byrna Technologies had approximately 62% gross profit margin on their cumulative sales
- Byrna Technologies also expanded their less lethal weapons into 137 new Bass Pro Shops and Cabela’s locations in the United States of America in the most recent quarter
- So far Byrna Technologies has bought back $3M USD of their own stock as part of their previously announced $10M USD share buyback
Why it matters:
- Byrna is one of the first movers in the public markets to see significant traction around less lethal weapons, which have the potential to be adopted by individuals for personal safety purposes as well as reduce the harm caused by police forces in dealing with dangerous assailants
Going deeper:
- Global governments and police forces have been steadily embracing Byrna’s product lines, with the federal agency that oversees airport security in Argentina previously ordering Byrna’s launchers as well as the Uruguayan National Police purchasing weapons and ammunition for their police force
