Non-lethal weapons company Byrna (NASDAQ: BYRN) met Wall Street’s revenue expectations in Q3 CY2025, with sales up 35.1% year on year to $28.18 million. Its GAAP profit of $0.09 per share was 40.6% above analysts’ consensus estimates.

Is now the time to buy Byrna? Find out by accessing our full research report, it’s free for active Edge members.

Management CommentaryByrna CEO Bryan Ganz stated: “In Q3 2025, we delivered 35% year-over-year revenue growth, highlighting the increasing strength of our brand and the effectiveness of our growth strategy. In August, our new advertising initiatives, including AI-enabled campaigns that allow us to reach more consumers across more channels, lifted average daily web sessions on Byrna.com from roughly 33,000 to more than 50,000. We saw a similar increase on Amazon with sessions in August up 70% from the average prior to the rollout of the new advertising campaign. That momentum has carried into early fiscal Q4 2025, with September web sessions averaging 58,000 sessions per day. This new advertising approach has helped elevate brand recognition and credibility. Recently, we launched placements on MLB streaming platforms and NFL airport displays, and we expect these additions to help open doors to additional networks serving comparable demographics.

Company Overview

Providing civilians with tools to disable, disarm, and deter would-be assailants, Byrna (NASDAQ: BYRN) is a provider of non-lethal weapons.

Revenue Growth

Reviewing a company’s long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Luckily, Byrna’s sales grew at an incredible 79% compounded annual growth rate over the last five years. Its growth beat the average industrials company and shows its offerings resonate with customers.

We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Byrna’s annualized revenue growth of 60.5% over the last two years is below its five-year trend, but we still think the results suggest healthy demand.

This quarter, Byrna’s year-on-year revenue growth of 35.1% was wonderful, and its $28.18 million of revenue was in line with Wall Street’s estimates.

Looking ahead, sell-side analysts expect revenue to grow 20.1% over the next 12 months, a deceleration versus the last two years. Despite the slowdown, this projection is noteworthy and suggests the market sees success for its products and services.

Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.

Operating Margin

Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development.

Although Byrna was profitable this quarter from an operational perspective, it’s generally struggled over a longer time period. Its expensive cost structure has contributed to an average operating margin of negative 1.7% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. It’s hard to trust that the business can endure a full cycle.

On the plus side, Byrna’s operating margin rose by 13 percentage points over the last five years, as its sales growth gave it operating leverage. Still, it will take much more for the company to show consistent profitability.

In Q3, Byrna generated an operating margin profit margin of 10.2%, up 6.2 percentage points year on year. This increase was a welcome development and shows it was more efficient.

Earnings Per Share

Revenue trends explain a company’s historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions.

Byrna’s full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it’s at an inflection point.

Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business.

For Byrna, its two-year annual EPS growth of 97.8% was higher than its five-year trend. We love it when earnings growth accelerates, especially when it accelerates off an already high base.

In Q3, Byrna reported EPS of $0.09, up from $0.04 in the same quarter last year. This print easily cleared analysts’ estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Byrna’s full-year EPS of $0.67 to shrink by 29%.

Key Takeaways from Byrna’s Q3 Results

It was good to see Byrna beat analysts’ EPS expectations this quarter. We were also excited its EBITDA outperformed Wall Street’s estimates by a wide margin. Zooming out, we think this was a solid print. The stock traded up 9.2% to $24.90 immediately following the results.

Byrna may have had a good quarter, but does that mean you should invest right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.