Byrna Technologies Inc. Common Stock (BYRN)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham style investor, I want durable advantages, steady earnings, and a conservative balance sheet. Byrna's niche in less-lethal self-defense is interesting, but the numbers do not yet show a moat or consistency. In fiscal Q3 2026, the quarter ended 2026-08-31, revenue was $15.3 million and net income was -$2.9 million, or diluted EPS -$0.13. A year earlier, fiscal Q3 2025, the quarter ended 2025-08-31, revenue was $28.2 million and net income was $2.2 million, or $0.09 per diluted share. That is a sharp reversal. Fiscal Q2 2026, ended 2026-05-31, was worse: revenue $16.4 million and a net loss of $10.1 million, or -$0.44 per diluted share. Fiscal Q1 2026, ended 2026-02-28, was profitable with $29.0 million revenue and $801,000 net income, but one quarter does not make a trend. Full-year fiscal 2025, ended 2025-11-30, had $118.1 million revenue and $9.7 million net income, or $0.40 per diluted share, while fiscal 2024 had $85.8 million revenue and $12.8 million net income, or $0.55 per diluted share. The balance sheet is a positive: FairStock's debt-to-equity is 0.04 and Altman Z-Score 4.74. But FairStock's trailing free cash flow is -$548,000, FCF yield -0.5%, ROE -6.30%, ROCE -4.37%, and Piotroski F-Score 2/9. At the 2026-10-13 close of $4.55, FairStock's P/B is 1.81 and P/E is -25.28; negative earnings make the P/E meaningless. FairStock classifies it as a TURNAROUND — returned to profit after a loss within the last three years — but turnarounds need proof. I see speculation, not margin of safety.

In plain English: Byrna makes less-lethal self-defense devices, such as handheld launchers and projectiles, for consumers and professional security customers. The business looks weak right now because sales fell and it lost money in the latest reported quarter, though it carries little debt. At $4.55, the price looks speculative rather than clearly cheap or expensive because there are no steady profits to judge it against.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-08-31) · fiscal Q2 2026 10-Q (period ended 2026-05-31) · fiscal Q1 2026 10-Q (period ended 2026-02-28) · fiscal Q3 2025 10-Q (period ended 2025-08-31) · FY2025 10-K (period ended 2025-11-30) · FY2024 10-K (period ended 2024-11-30) · FY2023 10-K (period ended 2023-11-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer