Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Byrna Technologies Inc.BYRN · business equipment | |
|---|---|
| Grade |  Astrongest fifth of 497 graded peers; percentile 16.7, sampling error 2.2 points; lower is stronger |
| Rank | 84 of 497 |
| Profitability | Cpercentile 53.4 |
| Solvency | Cpercentile 43.8 |
| Growth and financing | Apercentile 15.6 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $84.5M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: dilution |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Mar 30, 2026193 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $4.722026-10-08; market equity $110.5M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 5, 2026; the document on sec.gov.
We are a less‑lethal self‑defense technology company specializing in innovative, next‑generation solutions for security situations that do not require the use of lethal force. Our mantra is Live Safe®, and our core mission is to empower people to safely embrace life. We seek to fulfill our mission by developing easy‑to‑use self‑defense tools that are designed to allow people to live more safely. We are also focused on providing law enforcement and private security customers with less‑lethal alternatives to firearms that are intended to reduce the use of lethal force and facilitate trust within the communities they serve.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 53.4 | |||||||
| Gross profitability | 84.6% | [1,3] | 28.5% | 2.9 | 558 | 2025-11-30 | |
| Return on invested capital | not computable | 10.9% | |||||
| a prior annual debt, equity, and cash observation is required | |||||||
| Accruals ratio | 14.4% | [1,4-6] | (7.4%) | 95.5 | 621 | 2025-11-30 | |
| Gross margin stability, five years | 3.1 pts | [2-3,7-14] | 2.4 pts | 61.9 | 429 | 2025-11-30 | |
| Solvency, sleeve percentile 43.8 | |||||||
| Twelve-month failure probability | 0.42% | 0.05% | 89.0 | 101 | 2026-08-31 | ||
| Altman Z double-prime | 6.43 | [1,15-20] | 2.18 | 17.2 | 566 | 2025-11-30 | |
| Net debt to EBITDA | not computable | 1.11x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | 3.77x | |||||
| latest aligned inputs end 2020-11-30; latest annual assets end 2025-11-30 | |||||||
| Current ratio | 3.73x | [15-16] | 2.02x | 25.3 | 666 | 2025-11-30 | |
| Growth and financing, sleeve percentile 15.6 | |||||||
| Revenue growth, three-year compound | 35.0% | [2,8,10,12] | 6.4% | 7.8 | 538 | 2025-11-30 | |
| Free cash flow growth, three-year compound | not computable | 17.2% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | 169.9% | [15-16,18,21-26] | 14.3% | 12.4 | 226 | 2025-11-30 | |
| Asset growth, three years | 14.0% | [1,6,27-28] | 5.0% | 26.5 | 563 | 2025-11-30 | |
| Net share issuance, one year | not computable | 0.5% | |||||
| prior share count is 53 days earlier | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.280; sampling error 2.2 percentile points on 497 peers.
Among 497 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 79 | Procore Technologies, Inc. (PCOR) Procore Technologies, Inc. (PCOR) Astrongest fifth; percentile 15.7 NYSE · Services-Prepackaged Software market equity $8.3B; last close $54.78 No active warnings; 9 of 14 inputs | 15.7 | A | |
| 80 | Ibex Ltd. (IBEX) Ibex Ltd. (IBEX) Astrongest fifth; percentile 15.9 Nasdaq · Services-Computer Processing & Data Preparation market equity $589.6M; last close $44.38 Warnings: fortress balance sheet; 10 of 14 inputs | 15.9 | A | fortress balance sheet |
| 81 | Manhattan Associates Inc. (MANH) Manhattan Associates Inc. (MANH) Astrongest fifth; percentile 16.1 Nasdaq · Services-Prepackaged Software market equity $12.1B; last close $207.00 No active warnings; 8 of 14 inputs | 16.1 | A | |
| 82 | Sprout Social, Inc. (SPT) Sprout Social, Inc. (SPT) Astrongest fifth; percentile 16.3 Nasdaq · Services-Prepackaged Software last close $11.06 Warnings: fortress balance sheet; 9 of 14 inputs | 16.3 | A | fortress balance sheet |
| 83 | Viant Technology Inc. (DSP) Viant Technology Inc. (DSP) Astrongest fifth; percentile 16.5 Nasdaq · Services-Computer Programming, Data Processing, Etc. last close $13.19 No active warnings; 7 of 14 inputs | 16.5 | A | |
| 84 | Byrna Technologies Inc. (BYRN) Byrna Technologies Inc. (BYRN) Astrongest fifth; percentile 16.7 Nasdaq · Miscellaneous Electrical Machinery, Equipment & Supplies market equity $110.7M; last close $4.72 No active warnings; 9 of 14 inputs | 16.7 | A | |
| 85 | Fortinet, Inc. (FTNT) Fortinet, Inc. (FTNT) Astrongest fifth; percentile 16.9 Nasdaq · Computer Peripheral Equipment, NEC market equity $138.7B; last close $189.12 No active warnings; 11 of 14 inputs | 16.9 | A | |
| 86 | Mind Technology, Inc. (MIND) Mind Technology, Inc. (MIND) Astrongest fifth; percentile 17.1 Nasdaq · Search, Detection, Navigation, Guidance, Aeronautical Sys market equity $41.9M; last close $4.58 Warnings: fortress balance sheet; 9 of 14 inputs | 17.1 | A | fortress balance sheet |
| 87 | Vertiv Holdings Co. (VRT) Vertiv Holdings Co. (VRT) Astrongest fifth; percentile 17.3 NYSE · Electronic Components, NEC market equity $93.8B; last close $243.70 No active warnings; 12 of 14 inputs | 17.3 | A | |
| 88 | Amphenol Corp. (APH) Amphenol Corp. (APH) Astrongest fifth; percentile 17.5 NYSE · Electronic Connectors market equity $105.2B; last close $85.32 No active warnings; 13 of 14 inputs | 17.5 | A | |
| 89 | Jack Henry & Associates Inc. (JKHY) Jack Henry & Associates Inc. (JKHY) Astrongest fifth; percentile 17.7 Nasdaq · Services-Computer Integrated Systems Design market equity $10.5B; last close $149.03 No active warnings; 10 of 14 inputs | 17.7 | A |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A | 14.6 | 2204 |
| sector peers, equal sleeves (the grade) | A | 16.7 | 497 |
| same exchange, equal sleeves | A | 16.8 | 1219 |
| sector peers, equal inputs | A | 17.7 | 497 |
Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (83.7%) | 2.2% | 2 | hotter than 2 of 100 peers |
| Distance from 52-week high | (82.9%) | (30.0%) | 6 | closer to its high than 6 of 100 peers |
| EBIT to enterprise value | 11.5% | 1.5% | 96 | pricier than 4 of 100 peers |
| Free cash flow yield | (8.3%) | 2.7% | 16 | pricier than 84 of 100 peers |
| Book value to price | 0.50 | 0.23 | 74 | pricier than 26 of 100 peers |
| Sales to price | 1.07 | 0.30 | 78 | pricier than 22 of 100 peers |
| Composite equity issuance, five years | not computable | 3.9% | five-year total-return history is required | |
| Relative strength against the sector, log excess return | (2.10) | (0.26) | 2 | ahead of 2 of 100 peers |
Inputs: market equity $110.7M; EBIT $11.8M; free cash flow -$9.2M; book equity $55.1M; sales $118.1M; debt $217,171; cash $8.4M[29].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-11-30 | ||
|---|---|---|
| Return on assets above zero | 13.5% | ✓ pass[4,6] |
| Operating cash flow above zero | -$1.6M | ✗ fail[5] |
| Return on assets improved | (11.0 pts) | ✗ fail[4,6,27,30] |
| Operating cash flow exceeds net income | -$11.3M | ✗ fail[4-5] |
| Long-term leverage fell | n/a[1,6,27] | |
| Current ratio improved | 42.5 pts | ✓ pass[15-16,25-26] |
| No new shares issued | n/a[31-32] | |
| Gross margin improved | (1.0 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | 0.3 pts | ✓ pass[2,6,8,27] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $8.4M[33] |
| Operating cash flow, four quarters | $6.5M[5,33-37] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 1 |
| 10-Q received Oct 8, 2026 | |
| Median daily dollar volume | $1.6M |
| 63 sessions | |
| Days since newest grade input | 193 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $84.5M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $118.1M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $71.5M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $9.7M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.6M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $71.9M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $52.8M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $85.8M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $23.6M | 2023-11-30 | 2025-02-07 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $42.6M | 2023-11-30 | 2025-02-07 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $26.3M | 2022-11-30 | 2024-02-14 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $48.0M | 2022-11-30 | 2024-02-14 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $22.9M | 2021-11-30 | 2023-02-09 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $42.2M | 2021-11-30 | 2023-02-09 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $63.7M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $17.1M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$47.1M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $11.8M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $65.8M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $18.7M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $7.6M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 22 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $2.1M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 23 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $11.7M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 24 | income tax | us-gaap:IncomeTaxExpenseBenefit | $2.1M | 2025-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 25 | current assets | us-gaap:AssetsCurrent | $51.0M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 26 | current liabilities | us-gaap:LiabilitiesCurrent | $15.4M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 27 | assets | us-gaap:Assets | $52.3M | 2023-11-30 | 2025-02-07 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $57.0M | 2022-11-30 | 2024-02-14 | 10-K | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 23,404,754 | 2026-10-08 | 2026-10-08 | 10-Q | filing · viewer · series |
| 30 | net income | us-gaap:NetIncomeLoss | $12.8M | 2024-11-30 | 2026-02-05 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 22,685,654 | 2026-03-30 | 2026-03-30 | 10-K/A | filing · viewer · series |
| 32 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 22,671,283 | 2026-02-05 | 2026-02-05 | 10-K | filing · viewer · series |
| 33 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $8.4M | 2026-08-31 | 2026-10-08 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.5M | 2026-08-31 | 2026-10-08 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.0M | 2026-05-31 | 2026-07-09 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$4.4M | 2026-02-28 | 2026-04-09 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$11.5M | 2025-08-31 | 2026-10-08 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 16.7 is 3.3 points from the nearest band edge; sampling error is 2.2 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
