BYRN - Earnings call transcript Q2 2021

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Operator

Greetings, and welcome to the Byrna Technologies Fiscal Second Quarter 2021 Earnings Conference Call and Webcast.

As a reminder, this conference call is being recorded and all participants are in listen-only mode.

Before turning the call over to Bryan Ganz, Byrna Technologies Chief Executive Officer, I will read the Safe Harbor statement.

Some discussions made today may include forward-looking statements. Actual results could differ materially from the statements made today. most description and could of projections assumptions. Byrna’s a filings affect to and complete more risk refer recent XX-Q XX-K for these Please factors that a obligations otherwise. or forward-looking The future to assumes new information, no statements company as result of events update

in will ir.byrna.com release will for reconciliations regarding statements Investor this further the call results, of see our call over Ganz. the Bryan go and to turn I references information now include As section GAAP non-GAAP non-GAAP of to please Mr. press the site results. please results Web forward-looking to Sir, ahead.

Bryan Ganz

so for and welcome fiscal you to call Good earnings quarterly Thank morning, XXXX. much. Byrna’s everyone, second

busy second marked at Byrna, important The very by was quarter time milestones. a several

First, we reported record revenues of $XX.X million.

a in HD producing African XX,XXX Second, and South record total our facilities. Wayne we launchers production production, Byrna Fort of had

Third, on our income income of a gaap positive approximately GAAP $X this net net first reported million. of We was quarter basis.

more discuss of Our a non-GAAP CFO quarter QX, $X will income Fourth, North adjusted consecutive QX few million, David performance net our in $XXX,XXX last of of detail reported third and in from minutes. year. approximately in we our up in $XXX,XXX financial

This financial launchers In for to Mission law enforcement strategic non-lethal milestones, broadens a addition and other strategic one product were acquisition of professionals. creates milestones. our new Lethal, selling Less markets these opportunities. In of the of of cross manufacturers May, shoulder-fired XX-caliber, number a completed offering, of we there acquisition assets leading opens security U.S. and

coupled Byrna’s enter anyone barrier all acquired. of a creates the the perpetuity, existing the market segment. part IP IP our the to of with acquisition IP portfolio of exclusive use in assets to acquired the This underpinning looking market for As non-lethal we meaningful rights

capital events two early On on NASDAQ our the began note. were In capital markets front, May, market. common there stock of trading the

Russell and shareholder to enable reconstitution. the as NASDAQ of public We XXXX as was trading liquidity. profile, Byrna’s XXXX will the our expect listing the improve expand it a On indices Byrna base, and Russell will us result to Russell annual Monday elevate help part added

of are finally, their mission. loyal extremely on of members total by more customer personnel, tell R&D betterment made team, factory thank because quarter’s we hard from workers save This Byrna I service like work professionals everything commitment, result And the that distribution and their for I daily a XXX,XXX team, the Byrna, also belief do to our to enthusiastic our than support. thank unrivaled Byrna will entire representatives, want for and have and our whom accomplishments lives of in in Nation Byrna and chain they to for our the supply believe I management, would senior basis. our personal of investors sacrifices you effort all the

in Now our I'm quarter going I'll recent discuss to and call then developments to initiatives of David some new and the come second our financial to hand discuss over back more questions. to take to detail performance,

David North

thanks joining us. and for Bryan, Thanks, everyone

Byrna October results on million, Indiana for increase for Revenues XXXX quarter XX, an second the financial in awareness following volume liquidity million in provide the XXXX, the XXXX the review ended I'd Now in and improved driven of demand were quarter update Fort year HD to market outlook. XXXX. security fiscal discuss the brand, was and by year-over-year of our our The like the enhanced increased to quarter XXXX. full our Wayne, company's device, second position manufacturing $XX.X personal of $X.X second the opening for facility company's production May compared

quarter in management million, XXXX. team driven and administrative revenues, growth we to GAAP to prior and on income and support Adjusted quarter sales year-over-year lower to year year The infrastructure, said, Byrna margin The income and approximately increase gross was That of a million earlier. and XXX% such dealer the $X.X dollars the million, quarter gross to $X.X was investments the to Gross than with positive profit recorded second million of $X.X our margin was EBITDA million in in as third the or are of income quarter basis. in to costs, This as a for and quarter was $XXX,XXX XX.X% effectively the sales XX% being is represents This dollars of more compared compared net were of first by margin which were our a in by margin production expected for incremental $X.X million period loss of higher in and gross approximately our quarter expenses margin million non-GAAP compared necessary for our in fulfill year. XXXX. orders. production. largely operational in higher in products, million fourth non-recurring orders in period. of second second necessary first margin $X.X introduction As Non-GAAP corporate Operating growth volumes margin the gross the expect profit, public LE, loss e-commerce will the net quarter that Mission the referenced period. net $X.X begin gross of the includes gross prior $X.X the from beyond moderate manage for the compared acquired profit benefit expenses with increase or the roughly profit $X.X driven and SD, Byrna’s million, Byrna $X.X second comparison we of shoulder-fired expanding quarter, for launchers Net of million a acquisition. in we as to new gross a adjusted profit, $X.X rose fiscal loss for representing company. profit XX.X% staff, prior XXXX a with to comparable

further of May approximately as with we that $X.X have of million orders yet ended XXXX, XX, $X.X been placed million We balance fulfilled. from Now restricted sheet, cash the taking of a $X.X look but the not at and cash, believe the had quarter on development provides us debt marketing balance available invest long-term that flexibility no sheet. execute continue liquidity We and debt, of to on in campaigns our ramp-up research the quickly new products. current current and and of plan, with ample to our strategic our million

build to and continued with have Amazon stockpiling materials enough opening balance down on has XX,XXX fulfillment We launchers. in another of issues and and approximately cash to approach, prudent the sales, Wayne Fort to hand have on mid-XXXX, a the considering XX,XXX we in We drawing store finished in Amazon summer, With handle raw opening able currently facility. our stock, desire surge units plan componentry we particularly to prior a be faced to e-commerce and this that our this believe inventory. of been

generate full the the of believe we'll full XXXX, year guidance. $XX now $XX fiscal of ending We million our revenue that For November to million. for year approximately we XX, are revenue adjusting

Now I'll turn discuss new the Bryan, call development of and will to channel back sales initiatives. who some product over our

Bryan Ganz

started product with the and to here Last have only development XL, share quarter, of we introduced are of to these been the at both extremely month. two Byrna products products, always and sales maintaining have We of products the leader heart this exceeding Boost everything not earlier opportunity to the you critical Innovation David. encouraged Byrna new both and by in of with preorders. Thanks, the driving but as sales new this I market development take do Technologies. shipping Byrna XL we the in to response our space. expectations. These HD a taking products the want have Boost less to and position new lethal we're technology at the new growth, started I pipeline. say we Byrna the some

essentially expect The now in current release be of sighting be in First when U.S. easier product result Enforcement in the or taken will product of offering version increased SD in we is a muzzle will Law an is improved even Byrna one our early production our SD completely HD, more resulting the magazine operate trigger It August. weather and new significantly HD. Byrna system updated in improvements velocity. sighting also facility Byrna is Wayne, exclusively in boasts And next and current grips. an in and while manufacturing the an extremely system, to is and U.S. cold our valve Byrna capabilities. This together popular the honeycomb The SD reliable seven LE market. features Byrna the Indiana Byrna Byrna SD enhanced a to SD, the boasts plus that for extreme produced the improved which even Fort The a Byrna HD. version Byrna the begin system,

this of QX Byrna We expect in release to the LE year.

Mission use use, the be per in importantly, users civilian available law unlike will Most tanks, of on pieced early we fire when LE launchers Targeted process In frankly release market. M-X, form, or While, and the rifle. We've XXXX will the product eliminate response also a that adequate XXX-feet be out and the Like enforcement M-X will for the SD, or support propulsion. to semiautomatic COX first late for exclusively XXX-shot be more will Byrna compressed will to frankly the are released for the need Byrna rolled in This working inventories forum, targeted this will the M-X magazines, our from up or demand. and as all cartridges propulsion. cartridge as easy in Byrna second. for tactical dangerous. the built succession introduction Mission TCR soon available will for Mission COX launcher from Byrna a consumers exclusively readily have the rounds with XXXX -- a XX come TCR shortly law compact LE of ago launchers acquisition. United capacity the to was use Kore, air is we this U.S. produced its with in will for months can Byrna propulsion. which cartridges the a I few Two refill either as shoulder-fire launcher The COX of the air the XXX technology to other be for make to acquired XX-grams can be than we acquisition, use the able XXXX, difficult enforcement the the States to compressed will be that that lot Byrna early were will have rapid round overwhelming. in customers, TCR

use, Just the air plan difficulty tanks. as systems the a of compressed of civilian note, of versions tank offer and risks air use to do launchers to for compressed the due associated these fired with our we not refilling compressed air

ball the over next to we the that fintail to plan fire addition patented outlined introduce which are rounds, new distances speeds projectiles. These products our designed In year designed projectiles, our greater carry which above, at payloads, ball more over round to accurate, launchers spin, and to than utilize are traditional longer traditional two round fintail our projectiles. significantly stabilize flight higher are travel

Action there positive, Both Byrna fire the this will same platform The XX-caliber will for believe and Byrna a which is Byrna large as The a representatives projectiles. Pump the operates CP The weapon. to first and up the able designed Action demonstrated be of County, response type the CP police prototype that PE Byrna and Los PE non-lethal to XXX-feet on launcher departments fintail projectile test-fired fintail to market a professionals that we Launcher launcher. to law Byrna It to was release overwhelmingly recently where lethal were need will much easy be provide In the routes the a agencies, XX will to of designed highly sheriff's able or fire disarm is accurate compact civilians the like The of case offer PE, single Pump with PAL. of force. plan truly of to designed up security this without and capabilities to Shotgun. is launcher threat fintail uses the from distances to to at resort carry to in magazine. we being PAL. enforcement an very payload Byrna the ability PAL Angeles the several users be handheld

last to In addition the launchers, working in been our Byrna new round. clock call I on Eco-Kinetic the development the around new has of the ammunition. mentioned

plastic professionals decades, or landscape. law consumers the of millions been American across For pieces of enforcement leaving strewn have

to XX-caliber our equipment water-soluble As has millions in same tablets the when is for commitment. We of made round, sell used ESG Eco-Kinetic both and month, become the we pill Kinetic Kinetic current Byrna the is will part type truly of Byrna but press first Advil rounds. developed Inert prices that the pill Inert not Kinetic produce report of example, both biggest hard, left round. displacing produced press rounds. Byrna’s Eco-Kinetic a will Byrna produce strikes practices the machines, Because of pulverizes within volume a below the water-soluble something leaves is round completely can the rounds naturally that degrade target days Byrna these largely outside being high in a in it rounds elements. round that at and seller, Eco-Kinetic it The does the which ideal Inert as ricochet, which like for can round, believe well our like are

importantly, in round July, part it is however, marketing the recreational any unlike will of either released leave our rounds, More Byrna new does remnants not in environment. campaign. this it prominently Once feature trace as

side skills Our of practicing your family shooting Byrna. goal will the be with to fun emphasize

twofold. goals Our are

owners report payload on been Byrna a for last year of they COX. in-house perhaps production the rounds a deploy become with risk supplier rounds to proficient real pleased manually augment our and and more diversify want have reliant First, more one world the that personal identified this to rounds. system. rounds, am Byrna to to we To of total to that source situation, month, so produce welding in it filling rounds, devices produced and security project rounds. develop the first fact that are course, capability the the that the a we sell payload in we they sole a their this is prepared. of want in more importantly, to initiated the our need operated But, risk I payload event past launchers, we've factors Payload of using self-defense we past

exacting only of higher was than consistent rounds current but process. objective Our more The to are due to The more been results they perfect which not actually encouraging. rounds to fly the quality, the have and are they the new tolerances built. faster

the quarter. and expect automation ordered production end the to in equipment have We by be the current of

owners in growth to capacity with anticipated believe continue we PAL exact the Pump XX-gauge online, the comes into supply rounds are the suppliers, need XX-caliber will that the projectile same intend from fire fintail to up existence the XX-gauge to in around a sources our keep order the to of than round shotgun million to able of fintail as be XX-caliber it we own designed both serial a that the world. will the need carry XX-gauge The This Action the round. be intend fintail production, and patented XXX XX-caliber our Launcher. This more in as XX-caliber once the As fired to with Action Pump we payload the projectile, XX-gauge with be released used are will system, will purchase we $X,XXX our allow fintail but without demand. existing shotguns of Launcher complete work to projectile, fintail development to

HD Until directly now share With launchers to represented consumers has we markets production however, prepared would the Byrna our channels. other We seriously to website. channels. sell pursue I other now, ammo and and Now expanded lion's a and this e-commerce sales. sales to via like of capabilities, our new new turn to currently sales our markets are accessories

As David we plan digital an this to later mentioned, launch quarter. storefront Amazon

support We Amazon, by are have our currently approved and building to inventory Amazon launch. been we

able Store Amazon yield. at looking the own other Needless until we company's is be much store. know its exclusive the we what projections will it data, to some through will XX-XX think sufficient and going as we split give on build between generally a to historical our e-commerce Byrna don't Amazon sales the SD. introduce Amazon We're new be to say, get to Amazon, inventory we Amazon will an While This sales retailers our website. we'll with better be Byrna can launch what the to as channel website

but compare be SD We expanding have dealers. through projectiles, also as the our ready Since call exclusive will count Amazon work shipments very Byrna COX. the bundle of we the also it difficult we limited to the Byrna We're dealers a kit, backlog. to only count include and Eco-Kinetic Byrna as will what and the use SD Kinetic not offered will pricing pricing package XX be later X sell a this on It a Until on brick-and-mortar with we the also consumer will our directly website. to Amazon, recently, package.

Bi-mart, Now Sports up with Lipsey's, Ranch, Working distributors and or including Byrna chain we ramped Davidson's, with allocation as approximately of dealers. to includes Byrna during our stores are orders has Rock backlog R have production fulfill United such less increasing Big X,XXX already current purchased and built that have Murdoch's, and the dealers. the more these locations behind Big expects across Sports us, all C-A-L South, for large This company be locations, stocking distribution to that network Byrna’s initial to quarter. brick-and-mortar locations up and dealers a of spread States. The signed and the

Finally, ripping professionals a our the unrest non-lethal the professionals, lives, security. private but we bringing on dedicated of to focused need, the formed professionals. this careers these products to non-lethal respond law giving and to Byrna’s to the is also in all enforcement to an is To not public tools but crime by save to defunding division situations, Byrna, recently Based of of Houston, policing, to us, there team giving option. preserve enforcement the mission suite brave the to a deescalate protect law this them civil security only to rates the need rising resort reform and increasing that are for by the not force. country, At lethal them police, to and with training without needed the the market security is by dangerous demand

support range enforcement products at and the XX, training Angeles. now On customers. has Byrna Sony security full June Byrna Studios these forces in conducted to private products and for necessary the law With security onboarding an Mission of of session the acquisition the Los Pictures

private XX-foot professionals, Angeles testing selected Byrna decided real plus, and day rounds. a the safety who of its a effective training including fire the a We other of exclusively program with and of training responsible less trading acre studio and devices. XX solution, classroom with in has locations, shooting ability ease equip security HD to and the number to safe launchers, After to are and Los Sony variety use effective in operation of lethal Sony full maintaining the provided due for its Byrna of practical range, our world scenarios. multiple

to was event officers, addition large In other Hollywood Sony’s departments, the security studios, three security local several two and agencies. by attended of private representatives police

that a to can see go I'm studios. XXXX. say so well-positioned made and want proud to of the conclusion, progress You for that working the extremely Sony beyond. the we've our I to with on, at training of in everything Motion just believe we're that day continued Picture we're first-half far, growth video website we In And of XXXX in that

Now, the I'd operator, happy be to we'll to it questions. back take and your like to turn

Operator

this session. question-and-answer your Thank a [Operator comes question question. Instructions] from with conducting first Our Please you. time, James. Raymond At with be will we Gesuale proceed Brian

Brian Gesuale

Congrats the morning. on Good Yeah. quarter. strong

of a questions. Just couple

couple for in think what awful the SKU think about like XXXX and any do various between new have Bryan, lot start to a got the you follow-ups. of XXXX? you've might products mix out looks the And sense products, then First, there, I works an of distribution how we as you have

Bryan Ganz

Byrna is displace you We Byrna over HD grappling That's SD frankly, a Okay, with. we've very much, great believe question. that the It's the thank Brian. do to time. going something been

away think and version SD And there'll SD. more The HD don't Byrna because it SD take the to law But We some M-X, selling ultimately there'll Byrna these. of all expect be market. frankly, the the thousands HD Byrna Byrna do plan we're handheld think of offer launchers, in the market they're difference I think largely this sell going for the law that the devices. Byrna. TCR devices, Launcher, believe the is $XXX we're LE, -- primarily we launchers. launchers $XX going much of good than to will we the and don't Pump more replace I we numbers with the for period But, expect with both out MSRP. shoulder-fired that the Action that enforcement will the enforcement from be the we thousands the penetration, be will But much the designed, think to phase professional augment ultimately, same of to a these going of in do sell that our a to expect of we expensive tens we will We a it's and don't hundreds we these which because to these, sales sell time, like continue do that for sell like to and handheld of in for we SD. do

product they that believe the security undertake, that products. a this the suite the gives our of broad we So, for with supply also consumers of various all missions us professionals, to meet range and have of ability to to

example, If for of have or Ruger at well. of you they a all or range which sell products, look wide Glock, Remington

thing true expect the We to Byrna. with same be

Brian Gesuale

the Wondering years out the Amazon target channel with we again, a as your from, others, helpful. can you us years? kind go of also Or, can think out and direct think take strategy ideal couple very again, of potentially. long about a and matures few evolves to that's where and shapes out? what's and of the sales How then if kind can come to you you channel Great,

Bryan Ganz

Amazon, of to be dealer business asking their day, example, this and a we a their is They own XXX done their a idea through say, day, e-commerce, a or about name. is question. know ourselves third website, and day. But you, I'll I our business what be sales. well-known on and no sales XX% frank as going three on just let's if do the brand same Yeti with XX% going if at, is XX Amazon two-thirds are a don't have to that We've through it's through an I be. look obviously about of been of

don't I those that over achieve stores. the us be where from dissimilar metrics in to longer-term I to Although, we already is end XXXX have think where up, probably not going too expect we brick-and-mortar the particularly short-term,

the I and makes the can purchasing into the better. hold think go physically that product, the that store everybody recognize experience ability to much

So we are our brick-and-mortar an think that the stores be of channel. distribution part important going to

So, for very we think and direct for for important going our place there's a to be Amazon, dealer base. DTC, brick-and-mortar the own

Brian Gesuale

early And jump Great. with of installed then the for tell revenue? standpoint. ammunition about ammunition you've a opportunity eco grows, installed rounds final certainly that back the the to starting one base Can as and product maybe really coming from queue. for is me, in the really you us any I'll and to grow how then base pretty got excited new We're the then indications drive

Bryan Ganz

such guidance. on base. the sales the installed a good a had to to rapid we point, We've growth said, going other the handle are we be of that what some where can of comps couple new That reorders never product for to have gotten for look we've

the earlier Mission XX% year, sales of came lethal year. less So, from launchers. of and came we from XX% purchased Last their ammunition assets this

launchers. similar is XX% private understanding company, a from have from of very is mix PepperBall and Although, XX% a they ammunition our

we'll reengagement the something and of see half owns X-millimeter, weapons. will you with buy we options. flatten started to first to spend We Byrna, the want a Byrna starts also And They LE, revolver, usually ownership and ammo of for of weapons, sort three people have will as our a if think a that point, on to come a owner that which And then with through when we gun one may multiple a of many, similar. over also much help this gun the initial years, think I HD, that purchase accessories XX-months industry think they they purchase that with as have will ammo PE and a when or the and if average price guidance, that when up may growth we reasons the we many come but weapon. the the a drive the doesn't buy with up for hope I sales. happen they look at off go out, XX, is these

kind of long-term, answer. a about So, the our XX% that to was convoluted expect we I of revenues. in But ammo be think

Brian Gesuale

jump Great. lot. That's into the queue. very I'll back helpful. Thanks a

Bryan Ganz

Brian. you, Thank

Operator

Thank you.

Our with question. Hickman Ladenburg Thalmann. from with comes Jon next Please question proceed your

Jon Hickman

me talk new That Hi. well could a have as Could growth now you percentage your And expectations do with you like team talk about operating place Like, Bryan. et you too in Congratulations your above expense, from was growth that revenues expenses? going about my the can as OpEx -- in cetera, you products forward need? from expect what far go. all we wise?

Bryan Ganz

Jon, I'm North going to turn this over to David to answer question. this

David North

question. that a good is Yeah,

And percentage what or stair flat. earnings a on. mean we that that structure expenses remain asked do is I with the well has we are, a think and kind this we to meant operating of over from being last said facilities, company dollars, Where with gone were And operating should quarterly building structure yeah. the past the an we think think I manufacturing We've small I one corporate call, so said, and XX-months, very riser those has successfully growth. administrative very costs. that as company lift in we

we expenses, structure. rise as very place that structure corporate So built we've operating is seen in in the a now. quick But

We have in the team place.

customers, a as as out in transaction it to was of or to but or card expect percentage processing terms, not growing is that not before. credit fast we off, fees, not number dollar terms, as in see that number that part perfectly, leveling freight and A fixed headcount that and structure. And So, variable, such with part I with payroll to which a part more line. slowly. grow company, major say, be sales but And as continuing of the will in grow terms our it more the cost of costs, much is of should the is

So there to but you that answer guidance. your isn't some hopefully exact gives an question,

Jon Hickman

Okay.

you sourcing? that there or your, it or is eke efficiencies able having room gross you a what out in some do time can't supply Are production hard quickly, margin? the what line? -- still there and your chain production call are you capabilities and still components any to to production is line And, you're Just that there like increase

Bryan Ganz

sure of things cost are significant there's we the that significant that eke extraordinarily people world pandemic. answer have on savings supply is, to Freight as because there last costs to in over We really been get a high spent yes. unusually high, chain, a significant across chains the call The opportunities as think out significant XX-months. on are disruption to know, the trying That and to alone. to efficiencies question this freight I'm in There's been time amount opportunities normal, haven't savings. supply back during said, the to starting most get

things that to already. that starting are the airlines to freight opportunities seeing flying Now again, down we're settle are reduce costs

we're not to to because pricing. to them today and one capacity running you, better Wayne. we're the we lot back we think expanded to be go and In on on at shift increasingly that Fort large will start Africa, putting even a honest to base, South in be growth, Currently, rapid negotiate were supplier one with able full And of with only suppliers of meet this our in We addition, pressure shift. orders. now

go which a we're sort and take our or shift or could operation, capacity we easily XXXX So, we but X,XXX in operation, for X,XXX a capacity, of I expand. production manufacturing day. own terms units don't we of capable a would two want to to opportunity up that go from to can day of units a to X,XXX a today doing shift significant suggest to our that two have half

standpoint, outstanding with will some our the don't increasingly potential. have suppliers here in to our supply. with current don't this own and working own wood U.S. I And significant perspective, from capabilities, point say So any And at some but on, we manufacturing from I knock wish more and see issues had our we're more upside I really any I see I suppliers

Jon Hickman

Okay.

exists? you are Can a question. word shotgun about for going you millions like, with marketing? owners the kind – the to talk this Byrna out Can this product where the for Just one projectile I'm you last intrigued shotgun capability that make owners. get new of available minute? how What of you ammunition, to the the that

Bryan Ganz

go premature to Yeah. clearly, this, we have thought Again, the how will going one little But to before to manufacturers, because or ammunition a the it's not produce market about shotgun casing. round are to we we as more I to we with need with marketing. the think discuss partner

and to into are that honest business. lot you, slew Winchester do manufacturers of not that both a with get manufacturers. the and going like Horde We a specialty smaller players be of large Federal and There's [ph], today, to that

development to speed the going would the shell brand This of wouldn't have wad be be the provide likely also produce. sold have brand, fintail get anticipate because globe. to sold of own to around course, Amazon, the large countries under all that would for are owners, on XX-caliber flies to manufacturers this to the But to We it various it under in that the of otherwise going they across put projectile will website scattered distribution these would shotgun which a XXX into of the a the world, be we project necessary able be on and them that co-development because we Byrna but is be critical. and our

Jon Hickman

So partnership we about a sometime future. announcement to in some could of the forward look kind

Bryan Ganz

Correct.

Jon Hickman

for it That's And, nice quarter. again, me. Thanks. Okay.

Bryan Ganz

you, Jon. Thank

Operator

Thank you.

proceed Our final B. comes with with question Company. Jeff Van Sinderen Riley question. your from & Please

Jeff Van Sinderen

just on shotgun you're to projectiles, my you’ve vein the launch. overall me doing and everyone. Amazon new in guess, And, I Good let that products. morning, other anything advertising around the plans, follow-up And add Putting as aside launched wanted congratulations. marketing

Bryan Ganz

out. on word out every how figuring are to day the working get single We

X% don't homeowners say before, whether You've I we that heard know of. the get in X%, is But XX% market only this front homeowners. X%, of those or X% or XX% me of can it's

get the in is of how people. issue So more front do we

more we've like been we've Sean that are the I and lucky that think also we more getting Hannity, some smaller very, influencers promoting are had very from Byrna. help but people

thing. product, and same Sean can to couple we're So, if provide with Hannity’s that marketing find XX the I we're can We're but get Google. think don't on Facebook we position companies an influencers. promote to agreement we're do doing influencers Again, influencer with clearly, the an more other a smaller that in where will that, recently XX of going campaign. a also initiating We've reached us smaller different more and a

Facebook of ads. to weapon be One difficulty the we've starting about are very to the products. introduce the That is it had considered Google on is issues product, because and that we non with our careful have weapon, a said, we

something We we didn't decibel introducing a $XX our for will weeks four I for back high it Byrna college things school the fob be we is to retail Banshee. website. but about ideal of is be talk an This that product will in students. will on the called key think One

decibel today. you it flashing will on put than or key of it, allow light yank chain, and emits can we your to you belt. XXX you that these broadly a you it siren, think personal types can your it And alarm. put if loose, your products advertise more We on it purse can If yank us

So, we the we think a with more the non-weapon promotion be get if on get products front that of Byrna to able will in of use broader other Google and that audience. to help get Facebook time also to can influencers

Jeff Van Sinderen

their to of a then, or evolution the And us then, just for product sort Mission the about you acquisition? great. Mission the products development product of I and having give of the speak Okay, on you IP? Anymore benefits legacy of moment. more turning color the And can can integration Mission some of guess,

Bryan Ganz

a important the year Mission, in and that unrest. sales, was the suite last Okay. to product of driven It's civil really $X.X did IP. Mission understand of million by was an lot that acquisition ammo acquisition a of

company, the a IP they parent reconstituted really under was significant Arms, was bankruptcy presence what of had So, and never which they which rather, from out the Kore. market. But had Sportz, Tippmann G.I. the in was or Tippmann

to only for cover to less weapon. for PepperBall We market. created Kore. it the What Byrna this that belongs moat Tippmann, to that. means puncture world it like competitors the shoot us, that only less So a two IP us, it which of did this patents ability point market, One which are in cartridge around trigger, a or a and Because like makes by other XX-caliber both right of belongs business. cartridge screw lethal pull for not patents launcher fired the can the the having COX now COX is to was what all with somewhat lethal our the the in, to control there the acquired or pierce of that exclusive the COX things a barrier entry to

So, real behind of drive off the behind sort cartridge this the to pull was us.

in That We nice products. the these what products. we're we also said, to access are Byrnarising of really got calling [ph] process some

it Byrna take minor the Mission we M-X, we IP and So, some take portfolio into TCR IP very own. on turn Mission utilizing think we TCR Byrna the the we from has both can it and that tweaks, Mission-X can with that and substantial its the Byrna turn acquired created into that

want damaging is think with as this Byrna don't to represents are. these we the was risk And they do the take what We simply to brand brand. want products We So, market to any directly of own why didn't Byrna through quality. them that today. selling products Mission be we products produce going putting of quality we these system simply what can the sell. make of process control our sure and Byrnarising and We're into we're proud not to go

David North

see short of question about not combination in a we just as And answer your this assets, businesses. an say, of acquisition to I'd integration,

Bryan Ganz

Yeah.

the employee In with that fact, one there only came over acquisition. was

Jeff Van Sinderen

Great best luck the taking next and my hear. for to of in quarter. Okay. questions, Thanks

Bryan Ganz

Thanks, Jeff.

Operator

Ladies turn question-and-answer over and gentlemen, management for the reached I to of now the closing end remarks. call will the we have session.

Bryan Ganz

exciting us you play and years couple look has up our to gratifying so been Byrna, Thank keeping for to everybody their much. you This We had much. support. it's things to very we Thank at everybody out want date of as progress Again, forward. see I planned. for thank to on a forward very going

Operator

for This Thank a at wonderful disconnect concludes you this day. your may conference Have your time. you lines and participation. today's

Byrna (BYRN) 30 Jun 212021 Q2 Earnings call transcript