Byrna Technologies: Strong Gross Margins, Weak Demand, And Little To Celebrate
Byrna reported a 45.7% year-over-year revenue decline in Q3 2026, including a 61.1% drop in wholesale sales. Gross margins improved through outsourcing and a tariff refund, but the company continued to report net losses and negative adjusted EBITDA.
Why it matters — The sharp sales declines and ongoing losses underscore demand and profitability challenges despite improved gross margins.