Byrna Technologies Inc.BYRN

Byrna Technologies Inc. finished the quarter to 31 May 2026 with $16.4 million in revenue but a $10.1 million net loss, leaving shareholders counting the cost of each .68-cal launcher rather than the promise of the platform. The company’s cash used in operations clocked in at negative $3.0 million, while inventory climbed another $3.6 million to $30.4 million, a stack of non-lethal hardware that now weighs more than the income statement. On the same day, the company filed a quartet of SEC Form 4 documents dated 23 July 2026, each signed by officers and directors, reminding the market that the people who own the optics also own the equity. (source: Byrna Technologies Inc. Form 10-Q, period ending 2026-05-31; SEC EDGAR Form 4 series, 2026-07-23, https://www.sec.gov/Archives/edgar/data/1354866/000143774926024355/xslF345X06/rdgdoc.xml)

Byrna sells four distinct launchers-LE, CL-XL, CL and SD-each powered by compressed air or CO2 and marketed as the “most compact” or “most powerful” option in its class. The LE claims a redesigned trigger and valve assembly that fires .68-cal rounds at up to 330 feet per second, while the SD advertises stopping power from up to 60 feet. Yet the company’s Canadian subsidiary outsources all order fulfillment to a third-party logistics provider and carries only $0.4 million of deferred revenue for advance payments and unfulfilled orders, a mismatch between ambition and execution that shows up in the cash-flow line rather than the product brochure. (source: Byrna product rails, https://www.byrna.com/products/le-kit; https://www.byrna.com/products/byrna-clxl-launcher-universal-kit; https://www.byrna.com/products/byrna-compact-launcher-universal-kit; https://www.byrna.com/products/byrna-sd-non-lethal-self-defense-pistol; Byrna Technologies Inc. Form 10-Q, period ending 2026-05-31, https://www.sec.gov/Archives/edgar/data/1354866/000143774926023100/byrn20260531_10q.htm)

Filing figures show revenue of $16.4 million for the quarter, offset by an operating loss of $12.8 million and a net loss of $10.1 million, with diluted EPS of negative $0.44 on 22.7 million shares. Cash and equivalents stood at $9.4 million while total assets reached $68.4 million and stockholders’ equity was $57.0 million. Research and development expense was $300,000 for the year ended 30 November 2025, and the company spent $1.1 million on property, plant and equipment during the quarter. Inventory rose to $30.4 million and deferred revenue balances were $0.4 million, $0.5 million and $1.8 million across different reporting periods, evidence that the revenue pipeline is longer than the product barrel. (source: Byrna Technologies Inc. Form 10-Q, period ending 2026-05-31; Form 10-K, period ending 2025-11-30, https://www.sec.gov/Archives/edgar/data/1354866/000143774926023100/byrn20260531_10q.htm)

The stock trades on OTC Markets under the symbol BYRN with thin quoted volume and wide spreads, so any price move is best read as a commentary on liquidity rather than fundamentals. The SEC EDGAR filing index shows a steady flow of periodic reports and insider transactions, but the market mechanism itself is the real story: a small-cap name with a single-product focus, a cash-burning model and limited float can oscillate on sentiment rather than substance. There is The source-change rail is filing/source-led and does not use chart-derived signals. Chart context is available separately on this page through the Atlas chart snapshot or TradingView route where available. (source: Byrna SEC EDGAR filing index, https://www.sec.gov/edgar/browse/?CIK=1354866)

What changed last week: on 16 July 2026 Byrna filed an updated submission package on SEC EDGAR, and on 23 July 2026 it filed four separate Form 4 documents showing insider share dispositions and acquisitions, a reminder that the people who set the strategy also hold the equity. The product rails remain unchanged: the four launchers sit on the website unchanged, while the balance sheet continues to accumulate inventory and burn cash. (source: SEC EDGAR submissions JSON, https://data.sec.gov/submissions/CIK0001354866.json; SEC EDGAR Form 4 series, 2026-07-23, https://www.sec.gov/Archives/edgar/data/1354866/000143774926024355/xslF345X06/rdgdoc.xml)

What remains unproven: sustained revenue growth, positive operating cash flow, and a credible path to profitability. The evidence shows a company that markets precision tools but collects losses, and that the gap between the polished platform story and the plain balance sheet is still measured in red ink. (source: Byrna Technologies Inc. Form 10-Q, period ending 2026-05-31, https://www.sec.gov/Archives/edgar/data/1354866/000143774926023100/byrn20260531_10q.htm)