Byrna Technologies Announces Preliminary Q1 2024 Revenues Of $16.7M Vs $15.64M Est.
Portfolio Pulse from Benzinga Newsdesk
Byrna Technologies Inc. (NASDAQ:BYRN) announced preliminary Q1 2024 revenues of $16.7M, surpassing the $15.64M estimate and marking a 98% year-over-year increase. This growth, attributed to a successful celebrity endorsement program, represents a record quarter for the company. Sales through Byrna's website and Amazon.com saw significant increases, alongside growth in dealer, Fox Labs, and international sales. Management remains cautiously optimistic about maintaining growth throughout 2024.
March 07, 2024 | 1:10 pm
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Byrna Technologies Inc. announced a record-breaking Q1 2024 with revenues of $16.7M, a 98% increase from the previous year, driven by a successful celebrity endorsement program.
The significant year-over-year revenue growth and the surpassing of revenue estimates are strong indicators of positive momentum for Byrna Technologies. The success of the celebrity endorsement program, which has notably increased direct-to-consumer sales, suggests a robust marketing strategy that could continue to drive sales and potentially the stock price in the short term. The record-breaking quarter, especially being traditionally the slowest for the company, further underscores the effectiveness of their strategies and could lead to increased investor confidence.
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