Byrna Technologies Inc. (NASDAQ:BYRN) is possibly approaching a major achievement in its business, so we would like to shine some light on the company. Byrna Technologies Inc., a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The US$241m market-cap company’s loss lessened since it announced a US$8.2m loss in the full financial year, compared to the latest trailing-twelve-month loss of US$2.8m, as it approaches breakeven. The most pressing concern for investors is Byrna Technologies' path to profitability – when will it breakeven? We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate.

Check out our latest analysis for Byrna Technologies

According to the 2 industry analysts covering Byrna Technologies, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2023, before generating positive profits of US$2.4m in 2024. The company is therefore projected to breakeven around a year from now or less! We calculated the rate at which the company must grow to meet the consensus forecasts predicting breakeven within 12 months. It turns out an average annual growth rate of 86% is expected, which signals high confidence from analysts. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict.

Underlying developments driving Byrna Technologies' growth isn’t the focus of this broad overview, though, bear in mind that generally a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.

Before we wrap up, there’s one aspect worth mentioning. Byrna Technologies currently has no debt on its balance sheet, which is rare for a loss-making growth company, which usually has a high level of debt relative to its equity. The company currently operates purely off its shareholder funding and has no debt obligation, reducing concerns around repayments and making it a less risky investment.

Next Steps:

This article is not intended to be a comprehensive analysis on Byrna Technologies, so if you are interested in understanding the company at a deeper level, take a look at Byrna Technologies' company page on Simply Wall St. We've also compiled a list of key aspects you should further examine:

1. Valuation: What is Byrna Technologies worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Byrna Technologies is currently mispriced by the market.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Byrna Technologies’s board and the CEO’s background.

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.