Byrna Technologies Inc. (BYRN) SEC Filings & Earnings Calls

EPA Regulatory Action

“In September 2026, we determined that certain of our Fox Labs branded defense sprays are formulated by our third-party contract filler with trichloroethylene, the processing and distribution of which for consumer use has been prohibited by an EPA rule under the Toxic Substances Control Act since June 2025.” · word for word

Revenue Decline Persistence

“Net revenues were $15.3 million in the third fiscal quarter of 2026 which represents a decrease of $12.9 million, or 45.7%, as compared to the prior year period revenues of $28.2 million.” · word for word

Non-Recurring Margin Benefits

“During the three months ended August 31, 2026, we received tariff refunds of approximately $2.3 million related to previously paid tariffs, which are reflected as a reduction of cost of goods sold in the current period.” · word for word

Revenue decline of 46% YoY driven by e-commerce and dealer restocking slowdown; net loss vs prior profit.

“Net revenue $15.3M vs $28.2M; net loss $(2.9)M vs profit $2.2M.”

Cash burn: cash declined from $15.5M to $9.4M since Nov 2025; inventory still elevated at $30M.

“Cash $9.4M vs $15.5M at Nov 30, 2025; inventory $30M.”

CEO Transition Execution Risk

“We expect 2026 to be a year of transition as we continue to advance our transformation” · word for word

Key Person Departure Risk

“Luan Pham ceased serving as our President on June 13, 2026.” · word for word

Forward-Looking Statement Risk

“Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict” · word for word

Sales and profit decline due to marketing pivot

“Mr. Ganz... has resulted in the Company's recent significant decline in sales and profits.”

Sales and profit decline due to marketing pivot

“Mr. Ganz... has resulted in the Company's recent significant decline in sales and profits.”

Integration risk and royalty obligation may impact margins.

“royalty payable to Hero equal to 3.5% of net sales of Hero’s products” · word for word

Insider selling by former CEO's entity

“On July 7, 2026, NEIP sold 42,200 shares at a weighted average price of $7.0351 per share... On July 8, NEIP sold 2,000 shares at a price of $6.19 per share.” · word for word

Potential activist or group formation

“Mr. Ganz has spoken with other stockholders of the Issuer regarding possible options to address this decline... is amending his prior Schedule 13D filing to disclose these conversations as a precautionary measure in the event they result in the formation of a 'group.'” · word for word

Insider selling by former CEO's entity

“On July 7, 2026, NEIP sold 42,200 shares at a weighted average price of $7.0351 per share... On July 8, NEIP sold 2,000 shares at a price of $6.19 per share.” · word for word

Potential activist or group formation

“Mr. Ganz has spoken with other stockholders of the Issuer regarding possible options to address this decline... is amending his prior Schedule 13D filing to disclose these conversations as a precautionary measure in the event they result in the formation of a 'group.'” · word for word

Severe demand decline

“Net revenues were $16.4 million in the second fiscal quarter of 2026 which represents a decrease of $12.1 million, or 42.5%, as compared to the prior year period revenues of $28.5 million.” · word for word

Gross margin collapse

“Gross profit was $1.8 million during the second fiscal quarter of 2026, or 10.9% of net revenue, compared to gross profit of approximately $17.6 million, or 61.6% of net revenue, in the prior-year period.” · word for word

Operational restructuring risk

“The increase in cost of goods sold against significantly lower revenue was primarily driven by a $5.9 million inventory write-down and a $3.5 million impairment charge related to the write-off of ammunition production machinery, equipment, and production-specific leasehold improvements, both recorded in the second fiscal quarter of 2026 in connection with th” · word for word

Key executive departure

“On June 13, 2026, Luan Pham separated from the Company as President.” · word for word

Accumulated deficit

“As of May 31, 2026, the Company had an accumulated deficit of approximately $56.4 million.” · word for word

Significant revenue decline and net loss; inventory write-down and impairment charges; cash burn; weak demand outlook.

“Revenue -43% YoY; net loss $(10.1)M; $5.9M inventory write-down; $3.5M equipment impairment; cash down to $10.4M from $15.5M.”

Integration risk and potential dilution from stock consideration, though small relative to market cap.

“The aggregate purchase price for the acquired assets is $1,250,000, consisting of $625,000 in cash and $625,000 in restricted shares of the Company’s common stock”

Key executive departure and organizational restructuring may cause short-term disruption in sales and marketing execution.

“Departure of President Luan Pham and separation of combined sales/marketing function into two new roles.”

Customer concentration risk

“Two of the Company's customers accounted for approximately 50% of total accounts receivable as of February 28, 2026.” · word for word

Foreign exchange risk

“The Company is not using any forward or option contracts to fix the foreign exchange rates.” · word for word

Credit risk from related party loan

“The Company loaned $1.6 million to Byrna LATAM; loan receivable was $1.0 million as of February 28, 2026.”

Cash burn and working capital pressure: cash decreased $5.9M in one quarter; inventory remains high at $33.1M vs $9.6M cash.

“Cash, cash equivalents and marketable securities $9.6M vs $15.5M at Nov 30, 2025. Inventory $33.1M.”

No formal guidance provided for Q2 2026, indicating uncertainty in near-term forecasting.

“Company not providing guidance for fiscal Q2 2026 until greater internal forecasting visibility is established.”

Operating expenses growing faster than revenue (16% vs 11%), pressuring margins.

“Operating expenses $16.5M vs $14.2M, increase of 16%.”

Decline in web and international channels may indicate competitive pressure or market saturation in those segments.

“Web channel sales down 9% YoY; International down 27%.”

Preliminary results subject to adjustment; full financials not yet released.

“Preliminary unaudited results; full Q1 results expected in April.”

Gross margin pressure from product mix shift and startup costs

“Gross margin decline was primarily due to the greater mix of dealer, chain store, and international sales as well as the continued amortization of startup costs.” · word for word

Cash burn: cash decreased from $25.7M to $15.5M, inventory increased to $32.7M

“Cash, cash equivalents and marketable securities as of November 30, 2025 totaled $15.5 million, compared to $25.7 million at November 30, 2024.” · word for word

Operating expenses growing faster than revenue (27% vs 26%)

“Operating expenses for Q4 2025 were $17.1 million, compared to $13.5 million for Q4 2024, an increase of 27%.” · word for word

Executive turnover risk

“Executive Officer Transition. On January 29, 2026, the Company announced that its Chief Operating Officer notified the Company of his decision to voluntarily depart”

Advertising platform restriction risk

“During 2023, certain advertising and social media platforms prohibited or significantly restricted advertising of Byrna products, which restrictions largely remain in place.”

Product liability and regulatory risk

“Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.”

Preliminary results subject to adjustment; full financials not yet released.

“Preliminary unaudited results; full financial results expected in February.”

Demand may normalize post-election; Q4 2024 had elevated demand around U.S. election.

“comparison also reflects growth over a particularly strong fiscal fourth quarter of 2024, when demand was elevated around the U.S. election.” · word for word

Supply chain and regulatory risks typical for personal defense products.

“Forward-looking statements list supply chain disruption, regulatory factors, tariffs, etc.”