Byrna Technologies Inc. (NASDAQ: BYRN) reported preliminary revenue of $29.0 million for its fiscal first quarter of 2026, an 11% year‑over‑year increase from $26.2 million in Q1 2025. The figure falls short of the consensus estimate of $30.72 million, indicating a miss against analyst expectations.
Revenue mix shifted noticeably: web sales declined 9% YoY, while sales through dedicated dealers and retail stores grew 120% and 135% respectively. The company’s backlog at quarter‑end was $1.1 million, slightly above typical Q1 levels and largely attributed to shipment timing rather than a change in demand trend.
New CEO Conn Davis, who took the helm on March 3, noted that the results reflect Byrna’s “typical post‑holiday seasonal pattern while continuing to demonstrate year‑over‑year growth.” The comment underscores the company’s confidence in sustaining growth momentum despite the revenue miss.
Context from the prior quarter shows a deceleration: Q4 2025 revenue reached $35.2 million, beating estimates and marking a higher growth rate than the current quarter. This contrast highlights the slowdown in momentum as the holiday season winds down.
Management has guided that gross margin will improve to 63‑65% by year‑end, driven by a favorable product mix, manufacturing efficiencies, and recent price increases. Full results, including profitability metrics, will be released in April.
Investors reacted negatively to the miss and the shift in sales channels, reflecting concerns about margin pressure and the company’s evolving distribution strategy.
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