BYRN · Byrna Technologies Inc.

Summary

Revenue grew 10.9% to $29.0M, driven by higher wholesale dealer and distributor sales, but operating income and net income declined sharply year-over-year as the company invested in channel diversification and inventory build.

Key takeaways

• Net cash used in operating activities was $4.4M (worsening from $3.8M used a year ago), and free cash flow was -$5.0M, reflecting working capital dynamics including inventory growth and accounts payable reduction.
• Capital expenditures were $621K (down from $2.6M a year ago), aligning with management’s stated shift toward channel execution over capacity expansion.