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Byrna Technologies Inc. ("Byrna" or the "Company") (NASDAQ:BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the expansion of its manufacturing capacity at its Fort Wayne, Indiana facility. This strategic move comes in response to the unprecedented surge in demand stemming from the early success of the Company's new marketing campaigns.
The expansion initiative includes increasing production facility personnel by 25% and opening a second assembly line, paving the way for Byrna to boost its launcher output from 10,000 launchers per month to 12,500 units per month (during a single shift). The additional factory workers were hired in late January, and after undergoing on-the-job training, are now ready to support the higher production levels. This increase in manufacturing capacity should enable Byrna to satisfy the increase in customer demand stemming from the success of Byrna's new marketing programs.
"Resulting from the recent expansion of our celebrity influencer network, Byrna has experienced remarkable upswings in both web traffic and sales over the past several months, continuing even into the traditionally slow months after the holiday selling season," said Byrna CEO Bryan Ganz. "Expanding our manufacturing capacity is imperative if we hope to be able to meet this rising demand and provide seamless delivery to our valued customers. Additionally, this move is expected to positively influence our profit margins over time by reducing production costs through economies of scale and refining our operational processes."
Mirroring the rise in demand in the DTC market, Byrna is also experiencing increased B2B demand. Byrna is hearing from its brick-and-mortar partners that customers are coming into their stores looking for Byrna products after learning about them from Byrna's roster of celebrity influencers including Sean Hannity, Glenn Beck, Bill O'Reilly and Judge Jeanine Pirro. The Company is also seeing increased traction with large public safety agencies and premier dealer partners in the nearby international markets of Canada and Mexico. Earlier this year, the Company welcomed Byrna Toronto as the Company's first premier dealer in Canada.
Emiljano Mance at Byrna Toronto added: "As evidenced by the strong sales we have seen since we opened our doors in January, Canadians see Byrna's less-lethal launchers as an effective personal defense option. We look forward to continuing to serve our customers in Toronto and throughout Canada, bolstering safety and security in our communities."
Management will provide additional business updates during its fourth quarter and full year conference call on February 14, 2024 at 9:00 a.m. Eastern time. For details to access the conference call, please access the original announcement here.
Posted In: BYRN
