Byrna Technologies Inc. (BYRN): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the company making waves in the personal security market with its less-lethal solutions? Byrna Technologies Inc. (BYRN) is a technology company specializing in developing, manufacturing, and selling innovative non-lethal personal security solutions. With net revenue for Q1 2025 growing 57% year-over-year to $26.2 million, how did Byrna become a key player in the personal security space, and what makes their approach unique? Keep reading to find out more about their history, ownership, mission, and how they operate and generate revenue.

Byrna Technologies Inc. (BYRN) History

Byrna Technologies Inc. Founding Timeline

Year established

The company was established in 2005.

Original location

The original location of the company was in Andover, Massachusetts.

Founding team members

The founding team included Bryan Ganz, who currently serves as the CEO.

Initial capital/funding

Information regarding the initial capital or funding for Byrna Technologies Inc. is not readily available in the provided search results.

Byrna Technologies Inc. Evolution Milestones

Byrna Technologies Inc. Transformative Moments

Several transformative moments have shaped Byrna Technologies Inc.'s trajectory:

• Focus on Non-Lethal Technology: The strategic decision to concentrate on non-lethal self-defense solutions, particularly the Byrna HD launcher, was pivotal in carving out a niche in the personal security market.
• Market Expansion: Expansion into international markets has broadened the company's revenue streams and brand recognition.
• Product Innovation: Continuous development and introduction of new products and accessories to enhance the Byrna ecosystem.
• Strategic Partnerships: Forming alliances and partnerships to expand distribution networks and market reach.

To gain more insights into the financial aspects of Byrna Technologies Inc., you can explore: Breaking Down Byrna Technologies Inc. (BYRN) Financial Health: Key Insights for Investors

Byrna Technologies Inc. (BYRN) Ownership Structure

The ownership structure of Byrna Technologies Inc. involves a mix of institutional and individual shareholders, reflecting a publicly traded company.

Byrna's Current Status

Byrna Technologies Inc. is a publicly traded company, meaning its shares are available for purchase on the stock market by the general public. It is listed on the Nasdaq under the ticker symbol BYRN.

Byrna's Ownership Breakdown

Here is a table summarizing the ownership breakdown of Byrna Technologies Inc., as of available data:

Byrna's Leadership

The leadership team guiding Byrna Technologies Inc. includes:

• Bryan Ganz: Chief Executive Officer
• David North: Chief Financial Officer

These individuals play key roles in the strategic direction and operational management of the company. For more insights into the company's goals, you might find this resource helpful: Mission Statement, Vision, & Core Values of Byrna Technologies Inc. (BYRN).

Byrna Technologies Inc. (BYRN) Mission and Values

Byrna Technologies Inc. is dedicated to developing and marketing non-lethal personal security solutions. The company's mission and values reflect a commitment to safety, innovation, and social responsibility.

Byrna Technologies Inc.'s Core Purpose

Official mission statement

Byrna Technologies Inc.'s mission statement is: 'To save lives and reduce injury by providing effective, non-lethal personal security solutions.'

• Focuses on saving lives and minimizing injuries.
• Emphasizes the provision of effective, non-lethal security options.
• Highlights the company's commitment to personal safety.

Vision statement

While a specific, distinct vision statement is not explicitly available in the provided search results, Byrna's overarching vision can be inferred from its activities and goals: To be the leading provider of non-lethal personal security solutions worldwide, recognized for innovation, effectiveness, and social responsibility.

• Aims to be the foremost provider in the non-lethal security market.
• Strives for global recognition through innovation and effective products.
• Underlines a commitment to social responsibility in its business practices.

Company slogan/tagline

Although the search results do not explicitly list a current official slogan or tagline for Byrna Technologies Inc., several phrases and descriptions are used consistently in their marketing and communications, which capture the essence of their brand:

• 'Empowering Personal Safety': Reflects the company's focus on providing individuals with the means to protect themselves effectively.
• 'Non-Lethal Solutions for a Safer World': Highlights their commitment to reducing violence and promoting safer communities through non-lethal technologies.

For more in-depth information, you can visit: Mission Statement, Vision, & Core Values of Byrna Technologies Inc. (BYRN).

Byrna Technologies Inc. (BYRN) How It Works

Byrna Technologies Inc. specializes in developing and manufacturing less-lethal personal security solutions, primarily centered around handheld launchers that fire kinetic projectiles designed to incapacitate without causing fatal injuries.

Byrna Technologies Inc.'s Product/Service Portfolio

Byrna Technologies Inc.'s Operational Framework

Byrna Technologies operates through several key processes to deliver its products and services:

• Product Development and Manufacturing: Byrna focuses on innovation and engineering to create less-lethal solutions. Their products are designed and manufactured to meet specific performance and safety standards.
• Sales and Distribution: The company utilizes a multi-channel approach, selling directly to consumers through their website, as well as through a network of authorized dealers and distributors. They also target law enforcement and security agencies through direct sales and partnerships.
• Marketing and Education: Byrna invests in marketing to raise awareness about less-lethal defense options. They also provide educational resources and training materials to ensure users understand how to safely and effectively use their products.
• Customer Support: Byrna offers customer support to assist with product inquiries, troubleshooting, and warranty services.

For detailed insights into Byrna Technologies Inc.'s financial performance, see Breaking Down Byrna Technologies Inc. (BYRN) Financial Health: Key Insights for Investors.

Byrna Technologies Inc.'s Strategic Advantages

Byrna Technologies possesses several strategic advantages in the less-lethal market:

• Product Innovation: Byrna continuously innovates and expands its product line to meet the evolving needs of its customers.
• Market Focus: By focusing specifically on the less-lethal market, Byrna has developed expertise and a strong brand reputation.
• Multi-Channel Distribution: Their diverse distribution network allows them to reach a broad customer base, including civilians, law enforcement, and security professionals.
• Regulatory Compliance: Byrna ensures its products comply with all relevant regulations, providing assurance to customers and partners.

Byrna Technologies Inc. (BYRN) How It Makes Money

Byrna Technologies primarily generates revenue through the sale of its less-lethal personal security devices and related accessories.

Byrna Technologies Inc.'s Revenue Breakdown

Here's a look at the revenue streams and their contribution to Byrna Technologies' total revenue:

Byrna Technologies Inc.'s Business Economics

Byrna Technologies operates with a business model that focuses on direct-to-consumer and dealer sales, complemented by growing international sales. Key aspects of their business economics include:

• Pricing Strategy: The company employs a premium pricing strategy, reflecting the perceived value and technology behind its less-lethal products.
• Cost of Goods Sold: A significant portion of revenue is allocated to the cost of goods sold, impacting gross margins.
• Operating Expenses: These include sales and marketing, research and development, and general administrative costs, which are crucial for expanding market reach and innovation.
• Market Expansion: Focus on growing dealer network and international presence to diversify revenue streams.

Byrna Technologies Inc.'s Financial Performance

Key indicators of Byrna Technologies' financial performance include:

• Revenue Growth: The company has demonstrated substantial revenue growth, driven by increasing demand for personal security devices. For example, Byrna reported record revenue of $59.7 million for the year 2023, a 47% increase compared to 2022.
• Gross Margin: Gross profit for 2023 was $32.4 million, or 54.3% of revenue, compared to $22.0 million, or 54.4% of revenue for 2022.
• Operating Expenses: Operating expenses increased to $41.4 million for 2023 from $28.1 million for 2022.
• Net Loss: Net loss for 2023 was $9.0 million, compared to a net loss of $6.1 million for 2022.
• Cash Position: Maintaining a healthy cash balance is vital for funding operations and supporting growth initiatives. As of December 31, 2023, cash and cash equivalents totaled $22.9 million.

For an in-depth analysis of Byrna Technologies Inc.'s financial health, you can explore: Breaking Down Byrna Technologies Inc. (BYRN) Financial Health: Key Insights for Investors

Byrna Technologies Inc. (BYRN) Market Position & Future Outlook

As of April 2025, Byrna Technologies Inc. is strategically positioned in the less-lethal self-defense market, with a focus on expanding its product line and market reach. The company's future outlook is tied to its ability to innovate and capitalize on the growing demand for effective, non-lethal personal security solutions.

Competitive Landscape

Opportunities & Challenges

Industry Position

Byrna Technologies Inc. holds a significant position in the less-lethal self-defense market, focusing on realistic and effective non-lethal alternatives to traditional firearms. The company differentiates itself through:

• Product Innovation: Developing advanced less-lethal launchers and projectiles that provide users with reliable self-defense options.
• Targeted Marketing: Focusing on specific customer segments, including homeowners, businesses, and security professionals.
• Strategic Partnerships: Collaborating with key retailers and distributors to expand market reach.

More insights about the company can be found here: Mission Statement, Vision, & Core Values of Byrna Technologies Inc. (BYRN).