Byrna Technologies Reports Q3 2024 Results
Ticker: BYRN · Form: 10-Q · Filed: 2024-10-11T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, earnings
TL;DR
Byrna Tech Q3 revenue $20K, net loss $2.4M. Assets $25M, Liabilities $2.1M.
AI Summary
Byrna Technologies Inc. filed its 10-Q for the period ending August 31, 2024. The company reported total assets of $24,977,422 and total liabilities of $2,165,987 for the nine months ended August 31, 2024. Revenue for the third quarter of 2024 was $20,077, with a net loss of $2,479,033 for the same period.
Why It Matters
This filing provides insight into Byrna Technologies' financial performance and operational status for the third quarter of 2024, which can influence investor decisions.
Risk Assessment
Risk Level: medium — The company reported a net loss, indicating potential financial instability or ongoing investment in growth, which carries inherent risk.
Key Numbers
- $24.98M — Total Assets (As of August 31, 2024)
- $2.17M — Total Liabilities (As of August 31, 2024)
- $20.08K — Q3 2024 Revenue (Revenue for the third quarter of 2024)
- $2.48M — Nine Months Net Loss (Net loss for the nine months ended August 31, 2024)
Key Players & Entities
- Byrna Technologies Inc. (company) — Filer of the 10-Q
- August 31, 2024 (date) — End of reporting period
- $24,977,422 (dollar_amount) — Total assets as of August 31, 2024
- $2,165,987 (dollar_amount) — Total liabilities as of August 31, 2024
- $20,077 (dollar_amount) — Revenue for the third quarter of 2024
- $2,479,033 (dollar_amount) — Net loss for the nine months ended August 31, 2024
FAQ
What was Byrna Technologies Inc.'s total revenue for the nine months ended August 31, 2024?
The filing indicates that for the nine months ended August 31, 2024, Byrna Technologies Inc. had a net loss of $2,479,033, but specific total revenue for this period is not explicitly stated in the provided snippet, only Q3 revenue of $20,077.
What is the company's fiscal year end?
Byrna Technologies Inc.'s fiscal year ends on November 30.
What were the company's total assets as of August 31, 2024?
The total assets for Byrna Technologies Inc. as of August 31, 2024, were $24,977,422.
What was the net loss for the third quarter of 2024?
The net loss for the third quarter of 2024 was $2,479,033.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code for Byrna Technologies Inc. is 3690, which corresponds to Miscellaneous Electrical Machinery, Equipment & Supplies.
Filing Stats: 4,761 words · 19 min read · ~16 pages · Grade level 14.7 · Accepted 2024-10-11 16:06:04
Key Financial Figures
- $0 — ange on which registered Common stock, $0.001, par value per share BYRN Nasda
Filing Documents
- byrn20240831c_10q.htm (10-Q) — 1038KB
- ex_721352.htm (EX-31.1) — 13KB
- ex_721353.htm (EX-31.2) — 13KB
- ex_721354.htm (EX-32.1) — 6KB
- 0001437749-24-031111.txt ( ) — 5804KB
- byrn-20240831.xsd (EX-101.SCH) — 59KB
- byrn-20240831_cal.xml (EX-101.CAL) — 48KB
- byrn-20240831_def.xml (EX-101.DEF) — 389KB
- byrn-20240831_lab.xml (EX-101.LAB) — 311KB
- byrn-20240831_pre.xml (EX-101.PRE) — 430KB
- byrn20240831c_10q_htm.xml (XML) — 840KB
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
– OTHER INFORMATION
PART II – OTHER INFORMATION 27 Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28
SIGNATURES
SIGNATURES 29 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) August 31, November 30, 2024 2023 Unaudited ASSETS CURRENT ASSETS Cash and cash equivalents $ 20,077 $ 20,498 Accounts receivable, net 2,128 2,945 Inventory, net 19,797 13,890 Prepaid expenses and other current assets 1,983 868 Total current assets 43,985 38,201 LONG TERM ASSETS Intangible assets, net 3,401 3,583 Deposits for equipment 1,927 1,163 Right-of-use asset, net 2,404 1,805 Property and equipment, net 3,481 3,803 Goodwill 2,258 2,258 Loan to joint venture — 1,473 Other assets 1,548 28 TOTAL ASSETS $ 59,004 $ 52,314 LIABILITIES CURRENT LIABILITIES Accounts payable and accrued liabilities $ 11,124 $ 6,158 Operating lease liabilities, current 596 644 Deferred revenue, current 818 1,844 Total current liabilities 12,538 8,646 LONG TERM LIABILITIES Deferred revenue, non-current 28 91 Operating lease liabilities, non-current 1,899 1,258 Total liabilities 14,465 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. 24,977,422 shares issued and 22,498,389 shares outstanding as of August 31, 2024, and 24,168,014 shares issued and 22,002,027 outstanding as of November 30, 2023 24 24 Additional paid-in capital 132,364 130,426 Treasury stock ( 2,479,033 and 2,165,987 shares purchased as of August 31, 2024 and November 30, 2023, respectively) ( 20,747 ) ( 17,500 ) Accumulated deficit ( 66,456 ) ( 69,575 ) Accumulated other comprehensive loss ( 646 ) ( 1,056 ) Total Stockholders' Equity 44,539 42,319 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 59,004 $ 52,314 See accompanying not