Byrna Technologies Drops Over 21% Despite Strong Q2 Beat

Shares of Byrna Technologies (BYRN) closed at $25.42 on Wednesday, down $6.88 or 21.32%, even after reporting better-than-expected Q2 results.

The company posted non-GAAP EPS of $0.10 vs. estimates of $0.08 and revenue of $28.5M, topping the $28.16M forecast. Investors may be reacting to a seasonally weaker Q3 outlook and a sharp drop in cash reserves tied to inventory buildup ahead of new product launches.