Mentioned:
Less lethal weapons might change the future of personal security. And Byrna Technologies is turning them into a big business opportunity, too.
What’s happening:
- Byrna Technologies (NASDAQ: BYRN) has announced their most recent quarterly financial results, breaking a new all time record for total sales
By the numbers:
- In their most recent quarter Byrna Technologies generated $28M USD in total sales
- Their annual revenue is now expected to be approximately $85M USD, which is nearly a 100% increase from the previous year
- Direct to consumer sales of Byrna Technologies weapons also grew by 71% quarter over quarter
Why it matters:
- Less lethal weapons have come into focus as viable alternative to traditional firearms for both individuals and police forces to defend themselves with, which has led to a surge in adoption of Byrna’s products both in the United States of America and globally
Going deeper:
- Byrna Technologies has also been landing meaningful supply deals with global governments, including multiple notable purchase agreements with the government of Argentina to arm their local police forces as well as airport security officers
