Byrna Technologies Posts Q3 Earnings Below Street View

Loading...
Loading...
  • Byrna Technologies Inc BYRN reported third-quarter FY22 sales growth of 43% year-on-year to $12.42 million, missing the consensus of $13.88 million. Order backlog as of August 31, 2022, was $1.7 million.
  • The gross margin for the quarter contracted 80 basis points to 55.4%.
  • The operating expenses rose 24% Y/Y to $8.3 million. The operating loss for the quarter narrowed to $(1.4) million from a loss of $(1.8) million last year.
  • The company held $24.5 million in cash and equivalents as of August 31, 2022.
  • Non-GAAP adjusted EBITDA was a positive $0.3 million versus a loss of $(0.8) million a year ago.
  • EPS loss of $(0.07) missed the analyst consensus of $0.02.
  • Outlook: Byrna sees Q4 sales of $16 million - $18 million (consensus $17.92 million). The company expects Q4 to be solidly profitable.
  • The company reaffirmed its full-year guidance of $48 million - $50 million, below the consensus of $51.58 million.
  • "Despite our expectations for Q4FY2022, the economy is softening...As a result, we expect to see more temperate growth in 2023 with revenues growing by 10% - 30% rather than the 40% - 50% year-over-year growth we've seen in recent quarters," said CEO Bryan Ganz.
  • Price action: BYRN shares are trading higher by 1.63% at $5.00 on the last check Wednesday.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceBriefs
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...