The demand reset is deeper than expected with no near-term catalyst for recovery. Monitor H2 2026 for sell-through improvement from 'try before you buy' and Fox Sports marketing initiatives, but the stock faces continued pressure until e-commerce traffic and retail reorder cadence show sustained improvement. Cash burn and elevated inventory raise the risk of additional restructuring or capital needs.
Price Chart
Executive Summary
Byrna Technologies reported a disastrous Q2 2026 with revenue collapsing 43% YoY to $16.4M, a GAAP net loss of $10.1M (vs $2.4M profit last year), and GAAP diluted EPS of -$0.44 far below the -$0.10 consensus. Management explicitly stated fiscal 2026 will not be a revenue-growth year, effectively lowering guidance and signaling a prolonged demand downturn across e-commerce and retail channels.
Key Financial Metrics
Key Facts
- Revenue $16.4M vs $28.5M YoY (-43%), well below any reasonable expectation
- GAAP net loss $(10.1)M vs income $2.4M YoY; GAAP diluted EPS $(0.44) vs consensus $(0.10)
- Adjusted EBITDA swung to $(0.6)M from $4.3M YoY
- Gross margin collapsed to 10.9% GAAP (62% adjusted, excluding $10.4M in impairment/write-down charges)
- Cash and marketable securities fell to $10.4M from $15.5M at Nov 2025; inventory remains elevated at $30.4M
- CEO stated fiscal 2026 will not be a revenue-growth year; guidance effectively lowered
- Company ceased in-house ammunition manufacturing and reduced launcher assembly lines from four to two
Financial Impact
Revenue decline of $12.1M YoY; net income swing of -$12.5M; $10.4M in non-cash impairment and inventory write-down charges
Risk Factors
- Further revenue deterioration if demand does not recover in H2 2026
- Additional inventory write-downs or asset impairments
- Cash runway limited to ~6-9 months at current burn rate without improvement
- Dilution risk if the company needs to raise capital
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3324732 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | 8-K | $4.73 $4.52 | ▲ +4.44% | ▲ +5.04% | $4.73 (−0.00%) |
Sep 18, 2026 5w ago | 3 | $3.68 $3.52 | ▼ −4.35% | ▼ −5.90% | $4.73 (+28.53%) |
Sep 3, 2026 7w ago | 8-K | $3.41 $3.68 | ▲ +7.92% | ▲ +8.30% | $4.73 (+38.71%) |
Aug 15, 2026 10w ago | Institutional Cluster | $3.96 $3.90 | ▲ +1.52% | ▲ +0.84% | $4.73 (−19.44%) |
Aug 10, 2026 11w ago | 8-K | $4.85 $4.68 | ▼ −3.51% | ▼ −3.19% | $4.73 (−2.47%) |
Jul 28, 2026 13w ago | Insider Cluster | $4.33 $4.56 | ▲ +5.31% | ▲ +3.64% | $4.73 (+9.24%) |
Jul 28, 2026 13w ago | Insider Cluster | $4.33 $4.56 | ▲ +5.31% | ▲ +3.64% | $4.73 (+9.24%) |
Jul 28, 2026 13w ago | Insider Cluster | $4.33 $4.56 | ▲ +5.31% | ▲ +3.64% | $4.73 (+9.24%) |
Jul 23, 2026 13w ago | Insider Cluster | $3.54 $4.13 | ▲ +16.67% | ▲ +16.64% | $4.73 (+33.62%) |
Jul 23, 2026 13w ago | Insider Cluster | $3.54 $4.13 | ▲ +16.67% | ▲ +16.64% | $4.73 (+33.62%) |
US Market Status
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