Byrna Clocks 107% Revenue Growth In Q3, Expands Margin, Reiterates FY21 Guidance

October 8, 2021 8:29 AM | 1 min read | Make a Comment

Byrna Technologies Inc BYRN reported third-quarter FY21 revenue growth of 107.3% year-on-year to $8.7 million, beating the consensus of $7.49 million. Higher e-commerce and international sales and an expanded product range drove the growth.
Margin: The gross margin expanded 550 bps to 56.2%.
Non-GAAP net loss for Q3 was $(0.9) million or $(0.04) per share.
Byrna held $58.5 million in cash and equivalents.
"Growing brand awareness, the introduction of new Byrna products, and increased international sales drove the increase in Q3 FY21 net revenues," CEO Bryan Ganz said.
Outlook: Byrna reiterated its FY21 revenue guidance of $40 million - $42 million. Byrna sees a gross margin of 53% - 56%.
Price Action: BYRN shares closed higher by 0.42% at $21.31 on Thursday.