Byrna Technologies Inc. (NASDAQ:BYRN) reported fiscal first-quarter 2026 results on Thursday that came in below Wall Street expectations, with both profit and revenue missing analyst forecasts.
The company’s shares fell 4.78% in premarket trading following the release.
The personal defense technology company posted adjusted earnings per share of $0.03, falling short of the $0.09 analysts had expected.
Quarterly revenue totaled $29.05 million, below the consensus estimate of $30.1 million, although still up 11% from $26.2 million recorded in the same quarter last year. Net income came in at $0.8 million, compared with $1.7 million in the year-earlier period.
Gross profit rose to $17.4 million, representing 60% of revenue, compared with $15.9 million, or 61% of revenue, in the first quarter of fiscal 2025.
Operating expenses increased 16% to $16.5 million from $14.2 million, driven primarily by higher spending on advertising and marketing aimed at expanding retail distribution and boosting brand visibility. Adjusted EBITDA declined to $2.2 million from $3.0 million in the same period last year.
During the quarter, Byrna expanded its retail footprint, launching a partnership with Academy Sports + Outdoors that targets placement in roughly 200 to 250 stores by the end of the year. The company also added 14 new Murdoch’s Ranch & Home Supply locations.
Byrna introduced its CL-XL launcher during the period and rolled out a new product selection tool on its website.
CEO Conn Davis said, “Our fiscal first quarter results reflect real demand for our solutions while also highlighting clear areas where we need to improve execution. In the near term, our focus is on three priorities. First, driving deeper penetration across our retail and dealer channels, which we view as our single biggest growth opportunity over the next 12 to 18 months.”
Davis added that performance in the fiscal second quarter is currently trending below expectations. The company chose not to issue formal quarterly guidance, noting that ongoing operational adjustments in demand generation, website conversion, retail productivity, and internal forecasting could lead to greater variability in near-term results.
Byrna reported cash and marketable securities of $9.6 million as of February 28, 2026, down from $15.5 million at November 30, 2025. Inventory levels stood at $33.1 million.