In a recent transaction, Laurilee Kearnes, the Chief Financial Officer of Byrna Technologies Inc. (NASDAQ:BYRN), acquired 1,000 shares of the company's common stock. The shares were purchased at a price of $18.60 each, amounting to a total transaction value of $18,600. Following this acquisition, Kearnes now holds a total of 3,500 shares in the company. The purchase was executed on November 15, 2024, as per the SEC Form 4 filing.
In other recent news, Byrna Technologies reported substantial growth in its third quarter of 2024 earnings call. The company announced a significant surge in net revenue to $20.9 million, marking a 194% increase year-over-year, primarily driven by a revamped advertising strategy and a strong direct-to-consumer sales channel, which accounted for 74% of the total revenue. A noteworthy turnaround was reported with a net income of $1 million, compared to a net loss of $4.1 million during the same period last year. The company's CEO, Bryan Ganz, revealed plans for expanding celebrity endorsements and retail presence, including new stores in Nashville, Scottsdale, Salem, and Pasadena. These developments are part of Byrna's broader strategy, which includes normalizing less-lethal weapons and enhancing brand awareness. As part of its outlook for 2025, Byrna plans to increase its advertising budget by 50% and is optimistic about maintaining production capabilities to meet anticipated demand. These recent developments underscore Byrna's successful strategic initiatives and its commitment to continued growth.
InvestingPro Insights
The recent insider purchase by CFO Laurilee Kearnes aligns with Byrna Technologies' strong market performance and financial growth. According to InvestingPro data, Byrna's stock has shown impressive returns, with a 259.22% price total return over the past year and a 73.98% return in the last three months. This performance has brought the stock price to 98.2% of its 52-week high, trading at $18.32 as of the previous close.
Byrna's financial metrics also paint a picture of robust growth. The company's revenue has surged by 70.65% over the last twelve months, reaching $73.42 million. More notably, quarterly revenue growth stands at an exceptional 194.34%. This rapid expansion is complemented by a healthy gross profit margin of 60.28%, indicating strong pricing power and efficient operations.
InvestingPro Tips highlight that Byrna holds more cash than debt on its balance sheet, which suggests financial stability. Additionally, analysts anticipate sales growth in the current year, aligning with the company's recent performance trends. These factors may have contributed to the CFO's decision to increase her stake in the company.
For investors seeking a deeper understanding of Byrna Technologies, InvestingPro offers 21 additional tips, providing a comprehensive analysis of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.