Byrna Technologies Inc. Q2 2024 Update
Ticker: BYRN · Form: 10-Q · Filed: 2024-07-09T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Byrna Tech (BYRN) Q2 24: Assets $25M, Liab $2.2M, Rev $24.8K. Solid balance sheet.
AI Summary
Byrna Technologies Inc. reported its financial results for the period ending May 31, 2024. The company's total assets were $24,964,787, with total liabilities amounting to $2,187,892. For the three months ended May 31, 2024, the company reported revenue of $24,788. The filing also mentions a former company name, Security Devices International Inc., which changed its name on March 1, 2006.
Why It Matters
This 10-Q filing provides a snapshot of Byrna Technologies Inc.'s financial health and operational status for the second quarter of 2024, crucial for investors assessing the company's performance.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative financial events indicated.
Key Numbers
- $24,964,787 — Total Assets (As of May 31, 2024)
- $2,187,892 — Total Liabilities (As of May 31, 2024)
- $24,788 — Revenue (For the three months ended May 31, 2024)
Key Players & Entities
- Byrna Technologies Inc. (company) — Filer
- Security Devices International Inc. (company) — Former company name
- March 1, 2006 (date) — Date of name change
- May 31, 2024 (date) — End of reporting period
- $24,964,787 (dollar_amount) — Total assets
- $2,187,892 (dollar_amount) — Total liabilities
- $24,788 (dollar_amount) — Revenue for three months ended May 31, 2024
FAQ
What was Byrna Technologies Inc.'s revenue for the three months ended May 31, 2024?
Byrna Technologies Inc. reported revenue of $24,788 for the three months ended May 31, 2024.
What were the total assets of Byrna Technologies Inc. as of May 31, 2024?
As of May 31, 2024, Byrna Technologies Inc. had total assets of $24,964,787.
What were the total liabilities of Byrna Technologies Inc. as of May 31, 2024?
As of May 31, 2024, Byrna Technologies Inc. had total liabilities of $2,187,892.
When did Byrna Technologies Inc. change its name from Security Devices International Inc.?
Byrna Technologies Inc. changed its name from Security Devices International Inc. on March 1, 2006.
What is the fiscal year end for Byrna Technologies Inc.?
The fiscal year end for Byrna Technologies Inc. is November 30.
Filing Stats: 4,703 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-07-09 08:00:31
Key Financial Figures
- $0 — ange on which registered Common stock, $0.001, par value per share BYRN Nasda
Filing Documents
- byrn20240531_10q.htm (10-Q) — 991KB
- ex_686765.htm (EX-31.1) — 13KB
- ex_686766.htm (EX-31.2) — 13KB
- ex_686767.htm (EX-32.1) — 6KB
- 0001437749-24-022351.txt ( ) — 5531KB
- byrn-20240531.xsd (EX-101.SCH) — 55KB
- byrn-20240531_cal.xml (EX-101.CAL) — 46KB
- byrn-20240531_def.xml (EX-101.DEF) — 376KB
- byrn-20240531_lab.xml (EX-101.LAB) — 298KB
- byrn-20240531_pre.xml (EX-101.PRE) — 416KB
- byrn20240531_10q_htm.xml (XML) — 793KB
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 25 Item 4.
Controls and Procedures
Controls and Procedures 25
– OTHER INFORMATION
PART II – OTHER INFORMATION 26 Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27
SIGNATURES
SIGNATURES 28 1 PART 1 – FINANCIAL INFORMATION ITEM 1. Condensed Consolidated Financial Statements BYRNA TECHNOLOGIES INC. Condensed Consolidated Balance Sheets (Amounts in thousands, except share and per share data) May 31, November 30, 2024 2023 Unaudited ASSETS CURRENT ASSETS Cash and cash equivalents $ 24,788 $ 20,498 Accounts receivable, net 1,635 2,945 Inventory, net 15,500 13,890 Prepaid expenses and other current assets 1,779 868 Total current assets 43,702 38,201 LONG TERM ASSETS Intangible assets, net 3,441 3,583 Deposits for equipment 1,706 1,163 Right-of-use asset, net 1,473 1,805 Property and equipment, net 3,408 3,803 Goodwill 2,265 2,258 Loan to joint venture 1,493 1,473 Other assets 35 28 TOTAL ASSETS $ 57,523 $ 52,314 LIABILITIES CURRENT LIABILITIES Accounts payable and accrued liabilities $ 9,207 $ 6,158 Operating lease liabilities, current 552 644 Deferred revenue, current 1,407 1,844 Total current liabilities 11,166 8,646 LONG TERM LIABILITIES Deferred revenue, non-current 45 91 Operating lease liabilities, non-current 999 1,258 Total liabilities 12,210 9,995 COMMITMENTS AND CONTINGENCIES (NOTE 19) STOCKHOLDERS' EQUITY Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, no shares issued — — Common stock, $ 0.001 par value, 50,000,000 shares authorized. 24,964,787 shares issued and 22,776,895 shares outstanding as of May 31, 2024, and 24,168,014 shares issued and 22,002,027 outstanding as of November 30, 2023 24 24 Additional paid-in capital 131,550 130,426 Treasury stock ( 2,187,892 and 2,165,987 shares purchased as of May 31, 2024 and November 30, 2023, respectively) ( 17,753 ) ( 17,500 ) Accumulated deficit ( 67,481 ) ( 69,575 ) Accumulated other comprehensive loss ( 1,027 ) ( 1,056 ) Total Stockholders' Equity 45,313 42,319 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 57,523 $ 52,314 See accompanying notes to t