Product Liability and Safety Concerns: The inherent nature of Byrna's non-lethal products carries a risk of injury or misuse, potentially leading to lawsuits, significant financial liabilities, and reputational damage if products are perceived as unsafe or result in unintended harm.

Regulatory Scrutiny and Changes: The legal and regulatory landscape for personal security devices, even non-lethal ones, can change at local, state, and federal levels, potentially restricting sales, requiring costly product modifications, or increasing compliance burdens, impacting market access.

Intense Competition and Market Saturation: Byrna operates in a competitive market against both traditional firearms manufacturers and other non-lethal options. Increasing competition could lead to pricing pressures, reduced market share, and necessitate substantial investments in marketing and product development.