ANDOVER,
Mass., Feb. 8, 2024 /PRNewswire/ -- Byrna
Technologies Inc. ("Byrna" or the "Company") (Nasdaq:
BYRN), a personal defense technology company specializing in
the development, manufacture, and sale of innovative less-lethal
personal security solutions, today announced the expansion of its
manufacturing capacity at its Fort Wayne,
Indiana facility. This strategic move comes in response to
the unprecedented surge in demand stemming from the early success
of the Company's new marketing campaigns.
The expansion initiative includes increasing production facility
personnel by 25% and opening a second assembly line, paving the way
for Byrna to boost its launcher output from 10,000 launchers per
month to 12,500 units per month (during a single shift). The
additional factory workers were hired in late January, and after
undergoing on-the-job training, are now ready to support the higher
production levels. This increase in manufacturing capacity should
enable Byrna to satisfy the increase in customer demand stemming
from the success of Byrna's new marketing programs.
"Resulting from the recent expansion of our celebrity influencer
network, Byrna has experienced remarkable upswings in both web
traffic and sales over the past several months, continuing even
into the traditionally slow months after the holiday selling
season," said Byrna CEO Bryan Ganz.
"Expanding our manufacturing capacity is imperative if we hope to
be able to meet this rising demand and provide seamless delivery to
our valued customers. Additionally, this move is expected to
positively influence our profit margins over time by reducing
production costs through economies of scale and refining our
operational processes."
Mirroring the rise in demand in the DTC market, Byrna is also
experiencing increased B2B demand. Byrna is hearing from its
brick-and-mortar partners that customers are coming into their
stores looking for Byrna products after learning about them from
Byrna's roster of celebrity influencers including Sean Hannity, Glenn
Beck, Bill O'Reilly and Judge
Jeanine Pirro. The Company is also
seeing increased traction with large public safety agencies and
premier dealer partners in the nearby international markets of
Canada and Mexico. Earlier this year, the Company
welcomed Byrna Toronto as the Company's first premier dealer in
Canada.
Emiljano Mance at Byrna Toronto
added: "As evidenced by the strong sales we have seen since we
opened our doors in January, Canadians see Byrna's less-lethal
launchers as an effective personal defense option. We look forward
to continuing to serve our customers in Toronto and throughout Canada, bolstering safety and security in our
communities."
Management will provide additional business updates during its
fourth quarter and full year conference call on February 14, 2024 at 9:00
a.m. Eastern time. For details to access the conference
call, please access the original announcement here.
About Byrna Technologies Inc.
Byrna is a technology
company specializing in the development, manufacture, and sale of
innovative less-lethal personal security solutions. For more
information on the Company, please visit the corporate
website here or the Company's investor relations
site here. The Company is the manufacturer of the Byrna® SD
personal security device, a state-of-the-art handheld CO2 powered
launcher designed to provide a less-lethal alternative to a firearm
for the consumer, private security, and law enforcement markets. To
purchase Byrna products, visit the Company's e-commerce store.
Forward- Looking Statements
This news release contains "forward-looking statements"
within the meaning of the securities laws. All statements contained
in this news release, other than statements of current and
historical fact, are forward-looking. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans," "expects," "intends," "will," "anticipates," and
"believes" and statements that certain actions, events or results
"may," "could," "would," "should," "might," "occur," or "be
achieved," or "will be taken." Forward-looking statements in this
news release include, but are not limited to, statements indicating
that the Company will expand its market reach or increase sales.
Forward-looking statements include descriptions of currently
occurring matters which may continue in the
future. Forward-looking statements are not, and cannot be, a
guarantee of future results or events. Forward-looking statements
are based on, among other things, opinions, assumptions, estimates,
and analyses that, while considered reasonable by the Company at
the date the forward-looking information is provided, inherently
are subject to significant risks, uncertainties, contingencies, and
other factors that may cause actual results and events to be
materially different from those expressed or implied.
Any number of risk factors could affect our actual results
and cause them to differ materially from those expressed or implied
by the forward-looking statements in this news release, including,
but not limited to, potential cancellations of existing or future
orders including as a result of any fulfillment delays,
introduction of competing products, negative publicity, or other
factor, changes in the markets for security products and non-lethal
defense technology could have a material adverse impact on our
business, financial condition and results of operations, The order
in which these factors appear should not be construed to indicate
their relative importance or priority. We caution that these
factors may not be exhaustive; accordingly, any forward-looking
statements contained herein should not be relied upon as a
prediction of actual results. Investors should carefully consider
these and other relevant factors, including those risk factors in
Part I, Item 1A, ("Risk Factors") in our most recent Form 10-K,
should understand it is impossible to predict or identify all such
factors or risks, should not consider the foregoing list, or the
risks identified in our SEC filings, to be a complete discussion of
all potential risks or uncertainties, and should not place undue
reliance on forward-looking information. The Company assumes no
obligation to update or revise any forward-looking information,
except as required by applicable law.
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SOURCE Byrna Technologies Inc.