Law enforcement is beginning to adopt something new: less lethal weapons.
What’s happening:
- Byrna Technologies (NASDAQ: BYRN) has recently announced multiple new partnerships with governments to supply them with less lethal weapons and ammunition for law enforcement purposes
The big idea:
- Byrna Technologies manufactures ammunition and weapons that are designed to be used for non lethal force for law enforcement and personal safety purposes
- By producing ammunition and weapons that are purpose built to be non lethal, Byrna is aiming to build a new paradigm around defense in which non lethal force can be effective and also disarm assailants from a much further distance than tasers or pepper spray
Why it matters:
- Police brutality and unintentional lethal force are growing concerns across the world, however there have been very few technological innovations to find new ways to safely deal with potential threats without risking serious injury or death
By the numbers:
- The Uruguayan National Police recently placed an order with Byrna for 400 Byrna launchers and 400,000 rounds of less lethal ammunition
- The Buenos Aires City Police recently placed an order for 500 Byrna SD pistols
- Byrna did more than $20M USD of total revenue in their most recent quarter
- Byrna also recently announced they would begin repurchasing up to $10M USD of their own stock
Going deeper:
- Byrna has also experienced such a significant uptick in orders from individual consumers to use their non lethal weapons for personal protection purposes that they have begun expanding their flagship American production facility in Fort Wayne, Indiana in order to be able to ramp up their manufacturing capabilities
