Byrna Technologies Inc. (BYRN) AI Stock Analysis

Byrna Technologies Inc. specializes in the development and manufacturing of less-lethal defense technology and munitions designed for personal security. Its flagship product line includes handheld devices such as the Byrna SD and Byrna SD .68 caliber, engineered for civilians and private security professionals. The company also offers complementary accessories and safety products, including the Byrna Banshee, Byrna Shield, specialized sighting systems, holsters, compressed carbon dioxide canisters, and branded apparel. Founded in 2005 and headquartered in Andover, Massachusetts, Byrna operates primarily in the United States and South Africa.

Byrna expanded annual revenue from $42.2M in FY2021 to $118.1M in FY2025, which included a 101.1% increase in FY2024 to $85.8M and a 37.7% rise in FY2025. Gross margins improved from 54.3% in FY2021 to 60.5% in FY2025, while net income shifted from -$3.3M in FY2021 to $12.8M in FY2024 and $9.7M in FY2025. However, trailing twelve-month revenue contracted to $96.0M with a net profit margin of -9.2% and an operating margin of -19.2%. For the latest quarter ended August 31, 2026, quarterly revenue fell 45.7% year-over-year, while quarterly earnings dropped 57.1% year-over-year, leaving TTM EPS at -$0.40.

As of August 31, 2026, Byrna held $9.4M in cash and short-term investments alongside total debt of $1.2M, resulting in net cash of $8.2M. The company maintains solid liquidity with a current ratio of 5.54 and a debt-to-equity ratio of 0.02 against shareholders' equity of $55.1M and total assets of $64.6M. During FY2025, operating cash flow was -$1.6M and free cash flow was -$9.2M, impacted by capital expenditures of $7.6M. Capital allocation in FY2025 also included $1.1M in share buybacks.

Byrna trades at a market capitalization of $113.3M and an enterprise value of $76.3M. Its forward P/E ratio is 22.7x, compared to the median of 17.2x for its US-listed Industrials peers. The stock's price-to-sales ratio is 1.2x and EV/to/EBITDA is 9.6x, compared to peer medians of 1.5x and 13.9x, respectively. BYRN has declined 78.3% over the past year, lagging the S&P 500 (SPY) return of 16.8%, and trades 35.7% below its 200-day average.

Analyst coverage consists of 1 Strong Buy, 0 Buy, and 2 Hold ratings. The mean price target is $6.33, implying 30.9% upside from the closing price of $4.84. For the fiscal year ending November 30, 2026, consensus expectations call for revenue of $80.5M and an EPS of -$0.66, reflecting a 227.9% EPS reduction. For the subsequent fiscal year, 1 analyst projects revenue of $83.5M, revenue growth of 3.8%, and an EPS of -$0.30. Over the last four quarters, Byrna beat EPS estimates 2 times.

This page is an AI-written research summary of Byrna Technologies Inc. (BYRN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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