Byrna Technologies Expects Q4 Revenue To Be Slightly Lower Y-o-Y, But Stock Up In Pre-market

(RTTNews) - Byrna Technologies Inc. (BYRN), a personal defense technology company, Tuesday said that it expects revenues to be slightly lower for the fourth quarter, year-on-year. However, it expects revenue to increase sequentially by 120 percent.

Byrna shares were trading up more than 11 percent in pre-market trade.

Quarterly revenues are anticipated to be around $15.6 million reflecting a slight decrease of 2.7 percent from $16 million for the same period, last year. The lack of international sales in the fourth quarter led to a decrease in revenue compared to the previous year.

However, sequentially the revenue expectation of $15.6 million is higher than $7.1 million reported in the third quarter. The sequential increase can be attributed to the early success of the company's revamped advertising strategy that drove sales.

The company plans to report its fourth quarter results and full year results in February 2024.

In pre-market activity, Byrna shares are trading at $6.50, up 11.88% on the Nasdaq.