Byrna (BYRN) stock fell 14% on a third-quarter revenue miss, then closed up 17%, October 8, 2026

Byrna Technologies stock fell 13.68% in the minute after its fiscal third-quarter results reached the MoveSurge news feed at 08:00:41 ET on Thursday, October 8, 2026, then recovered and closed at $4.73, up 16.79% on the day. Revenue for the quarter to August 31 was $15.3 million, against $28.2 million a year earlier and the $16.26 million analysts expected.

The premarket drop took the stock from $4.24 to $3.66. Ten minutes after the headline it was at $3.61, 14.86% below its starting level, and after fifteen minutes it had recovered to $3.80, still down 10.38%. Only 33,227 shares changed hands in those fifteen minutes. From $3.61, ten minutes after the headline, to the close the stock gained about 31%, and the MoveSurge news feed carried no further Byrna headline that day. The company held its earnings call at 09:00 ET.

The third quarter against a year earlier

Revenue fell about 46%. Sales to dealers and chain stores, which Byrna reports as wholesale, dropped 61.1% to $4.2 million. The company attributed the decline to lower e-commerce sales and to "slower reorder activity from dealers and chain stores following substantial restocking in fiscal Q1 and slower than expected sell-through."

A tariff refund inside the 79% gross margin

Reported gross profit was $12.2 million, or 79% of revenue. About $2.3 million of it came from a refund of tariffs the company had paid, booked as a reduction in cost of goods sold. Without the refund the margin was about 65%, above the 60% of a year earlier, and management said on the call that it expects margins in the mid-60s to be sustainable. The better margin was too small to make up for the lost volume: adjusted EBITDA swung to a $1.4 million loss from a $4.1 million profit, and net income of $2.2 million a year earlier became a $2.9 million loss.

Three quarters of fiscal 2026

The third quarter repeats the second. Dealer and chain-store stocking lifted first-quarter revenue 11% to $29.0 million. The second quarter, reported on July 9, came in at $16.4 million against $28.5 million a year earlier, with the same explanation about restocking and slow sell-through, and the third quarter was a little lower again. Over nine months Byrna has sold $60.7 million against $82.9 million in the first nine months of fiscal 2025: a $2.8 million gain in the first quarter followed by $25.0 million less in the next two.

Management framed its plans around rebuilding growth in 2027. The HERO Defense Systems acquisition, agreed in July, closed in August, and its products are to be relaunched under the Byrna brand at the SHOT Show in January 2027. Byrna ended the quarter with $9.4 million of cash and marketable securities and no debt.