BYRN on Nasdaq

Byrna Technologies Inc.

In its 2026 annual report the company says: “We are a less‑lethal self‑defense technology company specializing in innovative, next‑generation solutions for security situations that do not require the use of lethal force. We are also focused on providing law enforcement and private security customers with less‑lethal alternatives to firearms that are intended to reduce the use of lethal force and facilitate trust within the communities they serve.”5 It is headquartered in Dover, United States.2 Its shares trade on Nasdaq under the symbol BYRN.2

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Last updated Oct 21, 2026.

Overview

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  • TickerBYRN on Nasdaq2
  • IndustryMiscellaneous Electrical Machinery, Equipment & Supplies2
  • HeadquartersDover, United States2
  • Incorporated inDE3
  • Business address100 Burtt Road, Suite 115, Andover, Ma 018103
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI529900SOEI1AVJ951E852
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o FIRST CORPORATE SOLUTIONS, INC., 800 N STATE ST STE 402, 19901 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 39334152

We are a less‑lethal self‑defense technology company specializing in innovative, next‑generation solutions for security situations that do not require the use of lethal force. Our mantra is Live Safe®, and our core mission is to empower people to safely embrace life. We seek to fulfill our mission by developing easy‑to‑use self‑defense tools that are designed to allow people to live more safely. We are also focused on providing law enforcement and private security customers with less‑lethal alternatives to firearms that are intended to reduce the use of lethal force and facilitate trust within the communities they serve.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

60.5%Gross margin6
10.0%Operating margin6
8.2%Net margin6
37.7%Revenue growth, 20256
14.7%Return on equity6
-$9.2MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 99% of the revenue Byrna Technologies Inc. broke down this way in fiscal 2025.

  1. Product$116.5M699%up 36% from 2024
  2. Royalty$1.6M61%
Products and services by year
Products and services20242025
Product$85.8M$116.5M
Royalty$0$1.6M

Regions

United States and Mexico brought in 90% of the revenue Byrna Technologies Inc. broke down this way in fiscal 2025.

  1. United States and Mexico$106.1M690%up 34% from 2024
  2. Europe & South America & Asia$8.1M67%up 95% from 2024
  3. Canada$2.5M62%up 2% from 2024
  4. ZA$1.4M61%up 589% from 2024
Regions by year
Regions20242025
United States and Mexico$78.9M$106.1M
Europe & South America & Asia$4.2M$8.1M
Canada$2.5M$2.5M
ZA$198.0K$1.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue39¢$46.6M
  • Research and development0¢$300.0K
  • Other costs50¢$59.4M
  • Income tax2¢$2.1M
  • Profit8¢$9.7M

Out of $118.1M in revenue.6

Financial statements

Revenue78910116$118.1M in 2025+12678% since 2019
0$50.0M$100.0M$150.0M2019: $924.4K$924.4K20192020: $16.6M$16.6M2020+1692%2021: $42.2M$42.2M2021+154%2022: $48.0M$48.0M2022+14%2023: $42.6M$42.6M2023−11%2024: $85.8M$85.8M2024+101%2025: $118.1M$118.1M2025+38%
Gross profit78910116$71.5M in 2025+47864% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $149.0K$149.0K20192020: $7.5M$7.5M2020+4939%2021: $22.9M$22.9M2021+205%2022: $26.3M$26.3M2022+15%2023: $23.6M$23.6M2023−10%2024: $52.8M$52.8M2024+123%2025: $71.5M$71.5M2025+35%
Operating income78910116$11.8M in 2025
-$10.0M-$5.0M0$5.0M$10.0M$15.0M2019: -$3.3M-$3.3M20192020: -$4.3M-$4.3M2020+31%2021: -$3.3M-$3.3M2021−24%2022: -$7.7M-$7.7M2022+135%2023: -$7.8M-$7.8M2023+1%2024: $6.7M$6.7M20242025: $11.8M$11.8M2025+77%
Net income78910116$9.7M in 2025
-$20.0M-$10.0M0$10.0M$20.0M2019: -$4.4M-$4.4M20192020: -$12.6M-$12.6M2020+185%2021: -$3.3M-$3.3M2021−74%2022: -$7.9M-$7.9M2022+140%2023: -$8.2M-$8.2M2023+4%2024: $12.8M$12.8M20242025: $9.7M$9.7M2025−24%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-11-302024-11-30
Net revenues$118.1M$85.8M
Cost of goods sold-$46.6M-$33.0M
Gross profit$71.5M$52.8M
Operating expenses$59.6M$46.1M
PROFIT FROM OPERATIONS$11.8M$6.7M
Foreign currency transaction loss-$410.0K-$576.0K
Interest income, net$410.0K$1.0M
Loss from joint venture$0-$42.0K
Other (Expense) / Income-$97.0K$7.0K
INCOME BEFORE INCOME TAXES$11.7M$7.1M
Income tax provision (benefit)$2.1M-$5.7M
NET INCOME$9.7M$12.8M
Foreign exchange translation adjustment$9.0K$342.0K
Unrealized gain (loss) on marketable debt securities-$47.0K$65.0K
COMPREHENSIVE INCOME$9.6M$13.2M
Net profit per share basic (in dollars per share)$0.43$0.57
Net profit per share diluted (in dollars per share)$0.40$0.55
Weighted-average number of common shares outstanding during the year basic (in shares)22.7M shares22.5M shares
Weighted-average number of common shares outstanding during the year diluted (in shares)24.1M shares23.1M shares

Compare Byrna Technologies Inc. with another company

Corporate structure

Byrna Technologies Inc. sits at the top of its group. 3 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Byrna Technologies Inc.

  • Bryan Ganz Filed SCHEDULE 13D/A on Byrna Technologies Inc., latest Sep 8, 2026 (5 filings since Dec 15, 2023)
  • FMR LLC Filed SCHEDULE 13G/A on Byrna Technologies Inc., latest Aug 7, 2026 (5 filings since Nov 12, 2024)
  • BlackRock Filed SCHEDULE 13G/A on Byrna Technologies Inc., latest Jul 27, 2026 (3 filings since Oct 24, 2024)
  • MILLENNIUM MANAGEMENT LLC Filed SCHEDULE 13G/A on Byrna Technologies Inc., latest Jul 10, 2026 (2 filings since Apr 16, 2026)
  • Capital Research Global Investors Filed SCHEDULE 13G/A on Byrna Technologies Inc., latest May 14, 2026 (4 filings since Feb 13, 2025)
  • ArrowMark Colorado Holdings LLC Filed SC 13G/A on Byrna Technologies Inc., latest Nov 14, 2024 (3 filings since Feb 14, 2023)
  • Pierre F. Lapeyre Jr. Filed SC 13G on Byrna Technologies Inc., latest Feb 1, 2022
  • Byrna Technologies Inc. Dover, Delaware, United States
    • Byrna South Africa (Pty) Ltd. Subsidiary · South Africa
    • Byrna Technologies Canada Inc. Subsidiary · Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Byrna Technologies Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$11.9M6 Nov 30, 2025$6.2M6 Nov 30, 2024+92.3%
Accumulated depreciation$4.2M6 Nov 30, 2025$2.8M6 Nov 30, 2024+50.5%
Property and equipment, net$7.7M6 Nov 30, 2025$3.4M6 Nov 30, 2024+126.7%
Operating-lease assets (leased space)$2.0M6 Nov 30, 2025$2.5M6 Nov 30, 2024−16.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.7M6 Nov 30, 2025$16.8M6 Nov 30, 2024−18.4%
Marketable securities, current$1.8M6 Nov 30, 2025$8.9M6 Nov 30, 2024−80.3%
Debt securities available for sale$1.8M6 Nov 30, 2025$8.9M6 Nov 30, 2024−80.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.3M6 Nov 30, 2025$2.3M6 Nov 30, 20240%
Intangible assets, net (excluding goodwill)$3.1M6 Nov 30, 2025$3.3M6 Nov 30, 2024−7.5%
Accumulated amortization$1.3M6 Nov 30, 2025$1.0M6 Nov 30, 2024+24.5%
Finite-lived intangibles, net$2.7M6 Nov 30, 2025$3.0M11 Nov 30, 2024−8.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$32.7M6 Nov 30, 2025$20.0M6 Nov 30, 2024+63.7%
Raw materials$18.7M6 Nov 30, 2025$10.3M6 Nov 30, 2024+81.8%
Work in process$4.4M6 Nov 30, 2025$3.4M6 Nov 30, 2024+27.8%
Finished goods$9.6M6 Nov 30, 2025$6.2M6 Nov 30, 2024+53.6%

Properties, in its own words

The Company leases all of its facilities, including its corporate headquarters, manufacturing facilities, office space, warehouse space, and retail store locations. Our corporate headquarters is located in Andover, Massachusetts. We operate two manufacturing facilities in Fort Wayne, Indiana, which support all active production operations. The Company also leases multiple retail and office locations across the United States, including sites in Nevada, New Hampshire, Arizona, Tennessee, and California, which support our sales, marketing, and direct‑to‑consumer retail activities. The Company previously leased a facility in Pretoria, South Africa; manufacturing operations at that location ceased during the third quarter of 2025, and the lease expired in December 2025 and was not renewed. All of the Company’s facilities are leased, and we believe that our existing properties are suitable and adequate for our current operational needs. Additional information regarding the Company’s lease commitments is included in Note 17 – Leases to the consolidated financial statements.

Item 2 of the 10-K filed Feb 5, 2026.5

Leadership

Who has led Byrna Technologies Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (16)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Byrna South Africa (Pty) Ltd. South Africa4
  • Byrna Technologies Canada Inc. Canada4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Security Devices International Inc.Mar 16, 2006 to Mar 4, 20203

Timeline

  1. Oct 8, 20268-K Results of operations39
  2. Sep 29, 20268-K Shareholder vote40
  3. Sep 3, 20268-K Executive or director change; Regulation FD disclosure41
  4. Aug 25, 20268-K Regulation FD disclosure42
  5. Aug 14, 20268-K Executive or director change; Director nominations; Regulation FD disclosure43
  6. Aug 10, 20268-K Completed an acquisition or sale; Unregistered sale of shares44
  7. Jul 9, 20268-K Results of operations45
  8. Jul 8, 20268-K Entered a material agreement; Regulation FD disclosure46
  9. Jun 18, 20268-K Regulation FD disclosure47
  10. Jun 18, 20268-K Executive or director change48
  11. Jun 15, 20268-K Executive or director change; Regulation FD disclosure49
  12. Apr 9, 20268-K Results of operations50
  13. Mar 18, 2026New chief executive Conn Q. Davis becomes CEO16
  14. Jun 11, 2021New chief executive Bryan Ganz becomes CEO17
  15. Mar 1, 2005Founded Byrna Technologies Inc. is founded2

Calendar

Coming up

  1. Around Jan 7, 2027Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Oct 8, 2026Reported quarterly or annual results39
  2. Jul 9, 2026Reported quarterly or annual results45
  3. Apr 9, 2026Reported quarterly or annual results50
  4. Mar 9, 2026Reported quarterly or annual results51
  5. Feb 5, 2026Reported quarterly or annual results52
  6. Dec 8, 2025Reported quarterly or annual results53
  7. Oct 9, 2025Reported quarterly or annual results54
  8. Sep 4, 2025Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

332 filings to the SEC since October 2021: 9 annual reports, 16 quarterly reports, 81 major events, 163 insider forms, 23 large holders, 40 other. The latest 20:

  1. Oct 8, 20268-K EDGAR
  2. Oct 8, 202610-Q EDGAR
  3. Sep 29, 20268-K EDGAR
  4. Sep 18, 20263 EDGAR
  5. Sep 8, 2026SCHEDULE 13D/A EDGAR
  6. Sep 3, 20268-K EDGAR
  7. Sep 2, 2026ARS EDGAR
  8. Sep 2, 2026DEF 14A EDGAR
  9. Aug 25, 20268-K EDGAR
  10. Aug 14, 20264 EDGAR
  11. Aug 14, 20263 EDGAR
  12. Aug 14, 20268-K EDGAR
  13. Aug 12, 2026SCHEDULE 13D/A EDGAR
  14. Aug 10, 20268-K EDGAR
  15. Aug 10, 20264 EDGAR
  16. Aug 7, 2026SCHEDULE 13G/A EDGAR
  17. Jul 31, 20264 EDGAR
  18. Jul 31, 20264 EDGAR
  19. Jul 31, 20264 EDGAR
  20. Jul 31, 20264 EDGAR

The 332 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

66 open-market trades by officers, directors and large owners since October 2021: 40 buys and 26 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 6, 2026ELMORE LEONARD JDirectorBuy10,000$4.64$46.4KForm 4
Jul 28, 2026Hughes HerbertDirectorBuy1,499$3.86$5.8KForm 4
Jul 27, 2026Hughes HerbertDirectorBuy2,501$3.77$9.4KForm 4
Jul 24, 2026Reed Chris LavernDirectorBuy8,150$3.63$29.6KForm 4
Jul 23, 2026Davis Conn Q.Chief Executive OfficerBuy3,430$3.51$12.0KForm 4
Jul 23, 2026Hughes HerbertDirectorBuy16,203$3.40$55.2KForm 4
Jul 23, 2026Davis Conn Q.Chief Executive OfficerBuy3,340$3.51$11.7KForm 4
Jul 22, 2026Davis Conn Q.Chief Executive OfficerBuy18,768$3.46$64.9KForm 4
Jul 22, 2026Hughes HerbertDirectorBuy5,478$3.47$19.0KForm 4
Jul 22, 2026Kennedy TJDirectorBuy29,000$3.53$102.4KForm 4
Jul 22, 2026Davis Conn Q.Chief Executive OfficerBuy18,768$3.46$64.9KForm 4
Jul 22, 2026KEARNES LAURILEEChief Financial OfficerBuy2,000$3.42$6.8KForm 4
Apr 15, 2026Ganz BryanBuy1,500$6.56$9.8KForm 4
Apr 15, 2026Ganz BryanBuy1,500$6.56$9.8KForm 4
Oct 10, 2025Hughes HerbertDirectorSale5,000$29.00$145.0KForm 4
Oct 10, 2025Ganz BryanSale40,000$29.90$1.2MForm 4
Apr 22, 2025Rooney EmilyDirectorBuy2,500$20.50$51.2KForm 4
Apr 15, 2025Brasseur JohnChief Operating OfficerBuy728$20.19$14.7KForm 4
Feb 20, 2025Hughes HerbertDirectorSale12,000$29.49$353.9KForm 4
Feb 20, 2025Ganz BryanSale50,000$29.37$1.5MForm 4

All 66 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Bryan Ganz$1.2M63
2025Luan Pham$1.0M63
2025Laurilee Kearnes$939.6K63
2024Former ChiefExecutive Officer$2.6M63
2024Former President$933.1K63
2024Chief Financial Officer$591.3K63

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$190.3K 2020–2020
Money received by yearMoney received by year, 2020–2020: $190.3K in all. PPP loans $190.3K.$0$50K$100K$150K$200K2020 · PPP loans: $190.3K2020
Figures by year
YearPPP loansTotal
2020$190.3K$190.3K

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA64. Matched to this company by name and state.

  1. Apr 8, 2020$190.3K PPP loan (first draw) from Needham Bank64To BYRNA TECHNOLOGIES INC., Wakefield MA; $191.6K forgiven Dec 31, 2020

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC3,402,809$22.8M0.0%+2,268
Vanguard Capital Management LLC758,696$5.1M0.0%−7,775
Wealthspire Advisors, LLC604,702$4.1M0.0%−178,047
Citadel Advisors LLC529,734$3.6M0.0%+496,312
Quinn Opportunity Partners LLC478,565$3.2M0.2%+254,405
Renaissance Technologies LLC429,847$2.9M0.0%+47,520
BlackRock, Inc.404,411$2.7M0.0%−967,071
Pinnacle Associates Ltd368,866$2.5M0.0%−32,888
Moneta Group Investment Advisors LLC336,638$2.3M0.0%+313,163
Millennium Management LLC325,550$2.2M0.0%−749,286
UBS Group AG309,132$2.1M0.0%−28,206
Walleye Capital LLC266,303$1.8M0.0%New
Geode Capital Management, LLC227,363$1.5M0.0%−226,759
D. E. Shaw & Co., Inc.226,678$1.5M0.0%New
Tudor Investment Corp Et Al140,697$944.1K0.0%New
Dimensional Fund Advisors LP136,962$918.4K0.0%−152,758
Bank Of America Corp /de/121,177$813.1K0.0%+102,215
Jump Financial, LLC119,887$804.4K0.0%New
Vanguard Fiduciary Trust Co118,411$794.5K0.0%−7,087
Aqr Capital Management LLC116,670$782.9K0.0%+86,002
Goldman Sachs Group Inc103,871$697.0K0.0%+5,343
Cladis Investment Advisory, LLC103,500$694.5K0.3%+39,600
Sound View Wealth Advisors Group, LLC98,258$659.3K0.0%−4,200
Quantinno Capital Management LP97,075$651.4K0.0%+53,735
Susquehanna International Group, Llp93,142$625.0K0.0%+67,464

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Byrna Technologies Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARByrna Technologies Inc.1
  • CIK0001354866
  • Employer ID (EIN)71-10506545
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsNovember 301
  • Industry code (SIC)3690 Miscellaneous Electrical Machinery, Equipment & Supplies1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address100 Burtt Road, Suite 115, Andover, MA 018101
  • Phone978-868-50111
  • Shares outstanding23,404,754 as of Oct 8, 202614
  • Public float$406.5M as of May 31, 20255
  • AuditorEISNERAMPER LLP, New York, New York PCAOB ID 274; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 16, 20061
  • Filings607 in all: 8-K (174), 4 (145), 10-Q (54), 3 (22), 144 (21), 10-K (18), CORRESP (14), DEF 14A (10)1
    All 45 form types

    UPLOAD (10), 10QSB (9), SCHEDULE 13G/A (9), 4/A (8), D (7), NT 10-K (7), 10-K/A (6), 8-K/A (6), DEFA14A (6), NT 10-Q (6), SC 13G (6), 424B3 (5), D/A (5), S-1/A (5), S-8 (5), SB-2/A (5), EFFECT (4), SCHEDULE 13D/A (4), 144/A (3), 3/A (3), PRE 14A (3), S-1 (3), 10KSB (2), 10QSB/A (2), 424B4 (2), ARS (2), S-1MEF (2), SB-2 (2), SC 13D (2), SC 13G/A (2), SCHEDULE 13G (2), 10KSB/A (1), 8-A12B (1), CERT (1), DEFR14A (1), NTN 10Q (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 5, 2026
    Quarterly report (10-Q) Oct 8, 2026
    Proxy statement (DEF 14A) Sep 2, 2026
    Latest 8-K (8-K) Oct 8, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.001, par value per shareBYRNNasdaq

From the cover page of the 10-K filed Feb 5, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Byrna Technologies Inc. names in Item 1A of its 10-K filed Feb 5, 2026: 54 risks under these headings, as written.5

  • Risks Related to Our Business
  • We have a limited operating history on which you can evaluate our business.
  • We have a history of operating losses during prior periods, and we cannot guarantee that we will be able to sustain profitability.
  • If we are unable to successfully implement our business plan for the sale of our products, our revenue growth could be slower than we expect and our business, operating results and financial condition could be adversely affected.
  • We may not be able to effectively manage our future growth.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.
  • Restrictions imposed by advertising and social media platforms that we use may result in decreased sales and market presence.
  • The failure to attract and retain key personnel could have an adverse effect on our operating results.
  • Executive Officer Transition.
  • Leadership Succession and Executive Management Transitions Could Adversely Affect Our Operations.
  • We depend on the sale of our personal security devices.
  • Sale of our personal security devices and kits depends on the continued availability of our ammunition, some of which is dependent on sole source suppliers.
The other 43 risks
  • Our business depends on maintaining and strengthening our brand and generating and maintaining demand for our products, and a reduction in such demand could harm our results of operations.
  • We are dependent on our relationships with key third-party suppliers for our business.
  • We are dependent on the quality of parts supplied by and quality controls of our third-party suppliers.
  • Higher costs or unavailability of components, freight, materials and accessories, including ammunition, could adversely affect our financial results.
  • If we are unable to successfully design and develop or acquire new and appealing products, our business may be harmed.
  • Our business could be harmed if we are unable to accurately forecast consumer preferences and retail trends that affect demand for our products.
  • We rely on a limited number of third parties for shipping, transportation, logistics, marketing and sales of our products and components. A loss of any such third-party relationship might have a material adverse effect on our operating results.
  • If we deliver products with defects, we may be subject to product recalls or negative publicity, our credibility may be harmed, market acceptance of our products may decline, and we may be exposed to liability.
  • Our business relationships with third parties could cause us to expend significant resources and incur substantial business risk with no assurance of financial return.
  • Our business depends on our ability to prevent or mitigate the effects of a cybersecurity attack.
  • Conducting our operations through current or future joint ventures could expose us to risks and uncertainties, many of which are outside of our control, and such risks could have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • As we seek to expand our business globally, growth opportunities may be impacted by greater political, economic and social uncertainty and the continuing and accelerating globalization of businesses could significantly change the dynamics of our competition, customer base and product offerings.
  • Sales transacted at our retail stores may be paid for with cash which increases the risk of theft and related legal liability.
  • Risks Related to Our Industry
  • The markets for security products and less-lethal defense technology are in a state of technological change which could have a material adverse impact on our business, financial condition and results of operations.
  • The less-lethal defense technology industry and security products markets are highly competitive, and our success depends upon our ability to effectively compete with numerous worldwide businesses.
  • Further expansion of sales of our product to law enforcement and other governmental or quasi-governmental entities may require expenditure of resources and lengthen our sale cycle.
  • Our performance is influenced by a variety of economic, social, and political factors.
  • Risks Related to Regulation
  • We are subject to extensive regulation and could incur fines, penalties and other costs and liabilities under such requirements.
  • Changes in government policies and legislation could adversely affect our financial results.
  • Health and safety risks could expose us to potential liability and adversely affect our operating results and financial condition.
  • We are exposed to operating hazards and uninsured risks that could adversely impact our operating results and financial condition.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act or other applicable anti-corruption legislation, and export controls and trade sanctions, could result in fines or criminal penalties if we expand our business abroad.
  • If our independent suppliers and manufacturing partners do not comply with ethical business practices or with applicable laws and regulations, our reputation, business, and results of operations would be harmed.
  • Risks Related to our Intellectual Property
  • If we are unable to protect our intellectual property, we may lose a competitive advantage or incur substantial litigation costs to protect our rights.
  • We may be subject to intellectual property infringement claims, which could cause us to incur litigation costs and divert management attention from our business.
  • Risks Related to our Securities
  • We may not maintain qualification for listing on Nasdaq in the future, which may impair your ability to sell your shares.
  • The market price of our common stock may be volatile, which could result in substantial losses for purchasers.
  • Our directors, executive officers, and significant stockholders may be able to influence us.
  • If our analyst coverage decreases or results in negative reports about our business, our stock price and trading volume could decline.
  • Our charter documents and Delaware law could make it more difficult for a third party to acquire us and discourage a takeover.
  • Our Bylaws, as amended, provide exclusive forum provisions applicable to substantially all disputes between us and our stockholders as well as claims brought under the Securities Act of 1933, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • We do not intend to pay dividends on our common stock for the foreseeable future.
  • General Risk Factors
  • Any future litigation could have a material adverse impact on our results of operations, financial condition and liquidity.
  • Our business depends on our ability to prevent or mitigate the effects of commercial crime including theft by employees, forgery and electronic crime.
  • Epidemic and pandemic diseases could have a material adverse effect on our business, financial condition, results of operations, cash flows, and ability to comply with regulatory requirements.
  • Our revenues and profits depend on the level of customer spending for our products, which is sensitive to general economic conditions and other factors.
  • Tariffs, sanctions, restrictions on imports or other trade barriers between the United States and various countries, most significantly China, may impact our revenue and results of operations.
  • Data privacy and security laws and regulations in the jurisdictions in which we do business could increase the cost of our operations and subject us to possible sanctions and other penalties.
  • Substantial future sales, or the perception or anticipation of future sales, of shares of our common stock could cause our stock price to decline.
  • The ongoing requirements of being a public company may strain our resources, divert management’s attention, and affect our ability to attract and retain executive management and qualified board members.
  • Our business could be harmed if we are unable to accurately forecast our results of operations.
  • Climate change and associated changes to laws and regulations may increase our operating costs and adversely affect our business and financial results.
  • Matters relating to the employment market and prevailing wage standards may adversely affect our business.

Legal proceedings

To the knowledge of our management, there is no material litigation currently pending against us, any of our officers or directors in their capacity as such or against any of our property.

The opening of Item 3, Legal Proceedings.5

Sources

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