Byrna Technologies Inc. (NASDAQ: BYRN) is a less-lethal personal security company that designs, manufactures, retails, and distributes handheld launchers and related products intended as alternatives to lethal force. Revenue comes from transactional sales of launchers, kinetic and chemical projectiles, accessories, and apparel through direct-to-consumer e-commerce, company-operated retail stores, and a wholesale channel covering dealers, distributors, and national retail chains. The company reported $118.1 million in revenue for the fiscal year ended November 30, 2025, a 37.7% increase from $85.8 million in FY2024, with net income of $9.7 million and non-GAAP adjusted EBITDA of $16.8 million. International revenue represented 10.0% of sales in FY2025. The company serves both consumer and professional security markets, including law enforcement and private security. An accumulated deficit of $47.1 million as of November 30, 2025 reflects a history of prior-period losses, though the company achieved net income in both FY2024 and FY2025.

Revenue model

Transactional product sales across two reportable channels: Direct-to-Consumer (DTC), including e-commerce via the Byrna website and Amazon, and Wholesale, covering dealers, distributors, and national retail partners such as Sportsman's Warehouse. Ongoing consumable and accessory sales (projectiles, CO2 cartridges, spare magazines, holsters) generate recurring revenue from the installed base of Byrna launcher owners. Apparel and branded merchandise provide a supplementary revenue stream.

Products and services

Byrna CL and Byrna LE/LE PRO handheld less-lethal launchers; kinetic and chemical projectiles; the Byrna Shield ballistic-rated backpack with a patented deployment system; accessories including laser sights, flashlight attachments, spare magazines, barrel extensions, holsters, and CO2 cartridges; Byrna-branded apparel. The company also operates Byrna-branded retail store locations.

Customers and end markets

Two primary end markets: consumers seeking personal security alternatives to firearms, reached through e-commerce and a network of more than 1,300 local, regional, and national outdoor and sporting-goods retailers (as of the FY2025 10-K); and professional security customers including law enforcement and private security, served through the Train the Trainer program. International customers are served through select distribution partners.

Value-chain role

Product designer, brand owner, and omnichannel retailer. Manufacturing of certain products and components is outsourced to third-party manufacturers. Distribution relies on a combination of direct e-commerce, company-operated retail stores, a Side Hustle dealer program, premier dealers, Amazon, and third-party distributors.

Geographic exposure

Primarily United States. International revenue represented 10.0% of total revenue in FY2025, fulfilled through select distribution partners in respective markets.

Source: SEC 10-K, filed 2026-02-05

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