Byrna Technologies Q1 Net Income Falls 52% to $801K on Higher Costs
Byrna Technologies Inc., a manufacturer of less-lethal personal security devices, reported net income of $801,000 for the quarter ending February 28, 2026, down 52% from $1.66 million in the prior-year period. Revenue rose 11% to $29.05 million despite the profit decline.
Byrna Technologies Inc. (NASDAQ: BYRN), a manufacturer of less-lethal personal security devices, reported net income of $801,000 for the three months ending February 28, 2026, down 52% from $1.66 million in the same quarter a year earlier. The decline came despite an 11% jump in revenue, as operating expenses climbed faster than sales growth. Read more earnings reports.
Revenue for the quarter reached $29.05 million, up from $26.19 million in the prior-year period. The top line was driven by launcher sales of $27.80 million, compared to $24.14 million a year ago, while projectile and accessory revenue totaled $529,000 and $724,000, respectively.
Gross profit expanded to $17.40 million from $15.92 million, yielding a gross margin of approximately 60%. Cost of goods sold rose to $11.65 million from $10.27 million in the year-ago quarter.
Operating expenses surged 16% to $16.47 million from $14.23 million, outpacing revenue growth and compressing operating income. The company posted operating income of $928,000 for the quarter, down 45% from $1.70 million in the prior-year period.
The company reported a tax benefit of $4,000 for the quarter, compared to a tax expense of $140,000 a year earlier. Diluted earnings per share came in at $0.03, down from $0.07 in the same quarter of fiscal 2025. The diluted share count averaged 23.83 million shares for the quarter.
On the balance sheet, cash and cash equivalents fell to $7.45 million as of February 28, 2026, down from $13.73 million at the end of the prior quarter. Total assets declined to $79.90 million from $84.49 million at November 30, 2025.
Cash used in operations totaled $4.42 million for the quarter, compared to $3.78 million in the prior-year period. Investing activities consumed $621,000, while financing activities used $960,000 in cash.
Inventory stood at $33.10 million as of February 28, 2026, up slightly from $32.69 million at the end of November. Accounts receivable increased to $11.60 million from $10.84 million. Total liabilities declined to $13.41 million from $18.73 million at the prior quarter-end.
Stockholders' equity rose to $66.49 million from $65.76 million at November 30, 2025. The company had 22.68 million common shares outstanding as of February 28, 2026.
Financial Summary
| Metric | Q1 FY2026 | Q1 FY2025 | Change |
|---|---|---|---|
| Revenue | $29.05 million | $26.19 million | +11% |
| Gross Profit | $17.40 million | $15.92 million | +9% |
| Operating Expenses | $16.47 million | $14.23 million | +16% |
| Operating Income | $928,000 | $1.70 million | -45% |
| Net Income | $801,000 | $1.66 million | -52% |
| Diluted EPS | $0.03 | $0.07 | -57% |
| Cash | $7.45 million | $13.73 million* | -46% |
*As of November 30, 2025