Byrna Technologies Announces Preliminary Fiscal First Quarter 2024 Revenues of $16.7 Million

Celebrity Endorsement Program Continues to Deliver, Driving 98% Year-Over-Year Revenue Growth

ANDOVER, Mass., March 7, 2024 /PRNewswire/ — Byrna Technologies Inc. (“Byrna” or the “Company”) (NASDAQ:BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today reported preliminary expectations for the fiscal first quarter ended February 29, 2024 (“Q1 2024”).

Based on preliminary unaudited results, the Company expects revenues of approximately $16.7 million for Q1 2024, setting a new quarterly record and marking a 98% year-over-year increase from $8.4 million in the fiscal first quarter of 2023 (“Q1 2023”). This growth is notable, considering the first quarter is typically the Company’s slowest period. Furthermore, revenues increased by 6.5%, or $1.0 million, sequentially from the fiscal fourth quarter ended November 30, 2023 (“Q4 2023”), which is typically the Company’s strongest quarter.

This record quarterly revenue is largely attributed to the success of the Company’s celebrity endorsement program initiated in September 2023. The program has significantly boosted direct-to-consumer sales, evidenced by a 115% increase in sales on Byrna’s website, and an 89% increase in sales on Amazon.com. Additionally, dealer sales, Fox Labs sales, and international sales all saw substantial growth year-over-year.

Preliminary Fiscal First Quarter 2024 Sales Breakdown:

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