Byrna Technologies Inc
For the period ended Aug 31, 2024. Filed Oct 11, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Aug 31, 2024 · Filed Oct 11, 2024
BYRN$3.83+2.4%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended August 31, 2024 and 2023 (unaudited)
BYRNA TECHNOLOGIES INC.
Condensed Consolidated Statements of Cash Flows
(Amounts in thousands)
| For the Nine Months Ended | ||
|---|---|---|
| August 31, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) for the period | $3,120 | $(7,363) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Stock-based compensation expense | 2,615 | 4,689 |
| Depreciation and amortization | 1,113 | 921 |
| Provision for inventory | — | 648 |
| Operating lease costs | 483 | 505 |
| Amortization of debt issuance costs | 4 | — |
| Loss from joint venture | 42 | 625 |
| Impairment loss | — | 176 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 817 | 1,968 |
| Deferred revenue | (1,089) | (8) |
| Inventory | (5,907) | (2,317) |
| Prepaid expenses and other current assets | (1,199) | 182 |
| Other assets | — | (97) |
| Accounts payable and accrued liabilities | 4,966 | (3,027) |
| Operating lease liabilities | (486) | (530) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 4,479 | (3,628) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of property and equipment | (1,382) | (342) |
| Equity method investment in joint venture | — | (520) |
| Loan to joint venture | — | (1,556) |
| NET CASH USED IN INVESTING ACTIVITIES | (1,382) | (2,418) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from stock option exercises | 149 | — |
| Repurchase of common stock | (3,247) | — |
| Payment of taxes withheld on issuance of restricted stock units | (826) | (456) |
| NET CASH USED IN FINANCING ACTIVITIES | (3,924) | (456) |
| Effects of foreign currency exchange rate changes | 406 | 88 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE PERIOD | (421) | (6,414) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 20,498 | 20,068 |
| CASH AND CASH EQUIVALENTS END OF PERIOD | $20,077 | $13,654 |
| Supplemental schedule of noncash operating activities: | ||
| Operating lease liabilities arising from obtaining right-of-use assets | $1,146 | — |
| Reclassification of interest receivable from accounts receivable to other assets | $203 | — |
| Recapitalization of loan receivable in connection with the divesture of the joint venture | $119 | — |
Condensed Consolidated Statements of Changes in Stockholders’** Equity**
For the Three and Nine Months Ended August 31, 2024 and 2023
(Amounts in thousands except share numbers)
| Additional · Treasury · Accumulated Other | ||||||||
|---|---|---|---|---|---|---|---|---|
| Common Stock · Paid-in · Stock · Accumulated · Comprehensive | ||||||||
| Shares | $ | Capital | Shares | $ | Deficit | Loss | Total | |
| Balance, May 31, 2024 | 24,964,787 | $24 | $131,550 | (2,187,892) | $(17,753) | $(67,481) | $(1,027) | $45,313 |
| Stock-based compensation | — | — | 819 | — | — | — | — | 819 |
| Issuance of common stock pursuant to exercise of stock options | 12,635 | — | 21 | — | — | — | — | 21 |
| Issuance of common stock pursuant to vesting of restricted stock units | — | — | (26) | — | — | — | — | (26) |
| Repurchase of common stock | — | — | — | (291,141) | (2,994) | — | — | (2,994) |
| Net income | — | — | — | — | — | 1,025 | — | 1,025 |
| Foreign currency translation | — | — | — | — | — | — | 381 | 381 |
| Balance, August 31, 2024 | 24,977,422 | $24 | $132,364 | (2,479,033) | $(20,747) | $(66,456) | $(646) | $44,539 |
| Balance, May 31, 2023 | 24,032,248 | $23 | $128,425 | (2,165,987) | $(17,500) | $(64,653) | $(1,846) | $44,449 |
| Stock-based compensation | — | — | 1,738 | — | — | — | — | 1,738 |
| Issuance of common stock pursuant to vesting of restricted stock units | 110,766 | 1 | (456) | — | — | — | — | (455) |
| Net loss | — | — | — | — | — | (4,094) | — | (4,094) |
| Foreign currency translation | — | — | — | — | — | — | 585 | 585 |
| Balance, August 31, 2023 | 24,143,014 | $24 | $129,707 | (2,165,987) | $(17,500) | $(68,747) | $(1,261) | $42,223 |
| Additional · Treasury · Accumulated Other | ||||||||
|---|---|---|---|---|---|---|---|---|
| Common Stock · Paid-in · Stock · Accumulated · Comprehensive | ||||||||
| Shares | $ | Capital | Shares | $ | Deficit | Loss | Total | |
| Balance, November 30, 2023 | 24,168,014 | $24 | $130,426 | (2,165,987) | $(17,500) | $(69,575) | $(1,056) | $42,319 |
| Stock-based compensation | — | — | 2,615 | — | — | — | — | 2,615 |
| Issuance of common stock pursuant to exercise of stock options | 220,067 | — | 149 | — | — | — | — | 149 |
| Issuance of common stock pursuant to vesting of restricted stock units | 589,341 | — | (826) | — | — | — | — | (826) |
| Repurchase of common stock | — | — | — | (313,046) | (3,247) | — | — | (3,247) |
| Net income | — | — | — | — | — | 3,120 | — | 3,120 |
| Foreign currency translation | — | — | — | — | — | — | 410 | 410 |
| Balance, August 31, 2024 | 24,977,422 | $24 | $132,364 | (2,479,033) | $(20,747) | $(66,456) | $(646) | $44,539 |
| Balance, November 30, 2022 | 24,018,612 | $23 | $125,474 | (2,165,987) | $(17,500) | $(61,383) | $(620) | $45,994 |
| Stock-based compensation | — | 4,689 | — | — | — | — | 4,689 | |
| Issuance of common stock pursuant to vesting of restricted stock units | 124,402 | 1 | (456) | — | — | — | — | (455) |
| Net loss | — | — | — | — | — | (7,363) | — | (7,363) |
| Foreign currency translation | — | — | — | — | — | — | (641) | (641) |
| Balance, August 31, 2023 | 24,143,014 | $24 | $129,707 | (2,165,987) | $(17,500) | $(68,747) | $(1,261) | $42,223 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.