Byrna Technologies Inc. (NASDAQ:BYRN) Q2 2023 Earnings Conference Call July 11, 2023 9:00 AM ET

Company Participants

Bryan Ganz - Chief Executive Officer

David North - Chief Financial Officer

Conference Call Participants

Jeff Van Sinderen - B. Riley

Jim McIlree - Dawson James

Operator

Good morning. Welcome to Byrna's Fiscal Second Quarter 2023 Earnings Conference Call. My name is Kevin, and I'll be your operator for today's call.

Joining us for today's presentation are the company's CEO, Bryan Ganz; and CFO, David North. Following their remarks, we'll open the call for questions.

Earlier today, Byrna released results for its fiscal second quarter ended May 31, 2023. A copy of the press release is available on the company's website.

Before turning the call over to Bryan Ganz, Byrna Technologies' Chief Executive Officer, I'll read the Safe Harbor statement. Some discussions held today include forward-looking statements. Actual results could differ materially from the statements made today. Please refer to Byrna's most recent 10-K and 10-Q filings for a more complete description of risk factors that could affect these projections and assumptions. The company assumes no obligation to update forward-looking statements as a result of new information, future events or otherwise.

As this call will include references to non-GAAP results, please see the press release in the Investors section our website, ir.byrna.com, for further information regarding forward-looking statements and reconciliations of non-GAAP results to GAAP results.

Now, I'd like to turn the call over to Byrna's CEO, Bryan Ganz. Sir, please proceed.

Bryan Ganz

Thank you, Kevin, and thank you, everyone, for joining us today.

As Kevin mentioned this morning, we filed our 10-Q with the SEC and issued a press release providing our financial results for the second quarter ended May 31, 2023, along with key business accomplishments.

Today, I would like to start by providing a few key highlights and recent business developments. Then, I will hand the call over to David North to discuss our financial results in more detail. After that, I'll come back and provide some color on our performance, touching on both those areas of the business we are pleased with and the underperforming areas of the business that require our attention. After that, we can take questions from our publishing analysts. And with that, let's begin.

First, production. I am pleased to report that during the quarter, we commenced production -- serial production of the new more powerful Byrna LE Launcher, and successfully worked through the backlog and waitlist of 5,800 units reported at the end of the first quarter of 2023, shipping out a total of 6,235 Byrna LE Kits during Q2.