Byrna Technologies Inc. (BYRN) Stock

Byrna Technologies Inc. (BYRN) is a Industrials stock trading at $3.62 (as of 2026-08-20), with a market capitalization of $82.04M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Byrna Technologies Inc. develops and manufactures less-lethal munitions, including handheld personal security devices and related components such as magazines, shoulder-fired launchers, and projectiles. It also sells accessories and safety products (e.g., canisters, sighting systems, holsters, and apparel) for use by civilians and private security professionals.

Understand Byrna Technologies Inc.: how it makes money

Byrna Technologies makes less-lethal handheld personal security products, including Byrna handheld devices and related accessories like magazines, launchers, projectiles, compressed CO2 canisters, and holsters, and it sells them through channels such as its web store and dealer networks.

The profit engine is the interplay between direct demand generated on its web channel (conversion rate and related web metrics) and ongoing pull-through through dealer channels that sell Byrna devices and accessories.

Revenue by segment (latest quarter)
Web	$0.0B
Dedicated Dealers	$0.0B
Chain Stores & Dealers	$0.0B

Business quality (Mixed): Useful channel-level operating inputs are available, but the provided period shows very low total revenue, so results may be volatile and limited disclosure in the candidate breakdown makes it hard to see where growth is coming from.

Valuation: At 16× earnings, BYRN trades 54% below the Electrical Equipment average (35×). Note: one-time items can distort reported P/E.

Bull case

Multiple sales channels: The company shows revenue activity in its Web Channel and in both Byrna dedicated dealers and Byrna chain stores and dealers, which can diversify where demand originates.
Room for operating leverage: The company reports a high gross margin (59.9%), with an operating margin of 3.2%, indicating that incremental scale could potentially move operating results if costs are controlled.

Bear case

Very limited revenue visibility in the provided period: The provided total revenue is 0.0B for the period ending 2026-02-28, and several candidate revenue categories (including international, retail stores, and law enforcement schools and private security) are 0.0B in the breakdown.
Profitability is still thin: An operating margin of 3.2% suggests relatively limited cushion if sales mix, costs, or channel performance shifts.

Valuation — source: SEC EDGAR (first-party)
Price	$3.62
Market Cap	$82.04M
Price / Book	1.44
Price / Sales	0.75
FCF Yield	-26.2%
DCF Value (model)	$8.87
DCF Upside vs Price	145.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$118.12M
Net Margin	8.2%
Revenue Growth (YoY)	-42.5%
EPS Growth (YoY)	-500.0%
FCF Growth (YoY)	-106.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.37 (safe)

Valuation vs Sector & Industry
Sector P/E (Industrials)	25.9
Industry P/E (Electrical Equipment)	37.8

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FMR LLC ($31.22M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Electrical Equipment
CEO	Bryan Scott Ganz
Employees	167
Country	US
IPO Date	2006-09-12

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.