Byrna Technologies Q1 revenue rises on dealer and chain store growth

Overview

• US personal defense device maker's fiscal Q1 revenue rose 11% yr/yr on dealer and chain store growth

• Net income and adjusted EBITDA both declined yr/yr due to higher operating expenses

• Company expects Q2 to be below expectations and suspended formal quarterly guidance

Outlook

• Company expects gross margin expansion in the second half of fiscal 2026

• Fiscal Q2 is developing below company expectations and below anticipated sequential improvement

• Company will not provide formal quarterly guidance for Q2 2026 due to internal visibility changes

Result Drivers

• DEALER AND CHAIN STORE SALES - Revenue growth was primarily driven by continued expansion across dealer and chain store channels

• HIGHER OPERATING EXPENSES - Increased advertising, marketing, and professional fees weighed on profitability

• WEBSITE CONVERSION PRESSURE - Declining conversion rates and average order value on Byrna.com prompted investment in digital experience improvements

Company press release: ID:nGNX9zsslt

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the aerospace & defense peer group is "buy"

• Wall Street's median 12-month price target for Byrna Technologies Inc is $28.50, about 209.8% above its April 8 closing price of $9.20

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 25 three months ago

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