Welcome to our dedicated page for VirTra news (Ticker: VTSI), a resource for investors and traders seeking the latest updates and insights on VirTra stock.
VirTra, Inc. (symbol: VTSI) is a leading U.S.-based company that specializes in the development, manufacturing, and sales of advanced training simulators for law enforcement, military, and commercial applications. Renowned for their high-quality products and exceptional customer support, VirTra's simulators aid in judgmental use of force training and firearms training.
VirTra's product line includes sophisticated simulators, upgrade components, and various accessories such as recoil kits and Threat Fire devices. These products are designed to enhance realism and effectiveness in training scenarios, making them highly sought after in global markets.
The company operates with a strong commitment to innovation and sustainability, ensuring profitable growth and increased value for shareholders. VirTra boasts a robust international distribution network, with services that encompass installation, training, warranties, and ongoing support.
Recent developments highlight VirTra’s proactive approach to innovation, including expansion of scenario and character libraries and enhancements to recoil kits. These advancements underscore VirTra's dedication to improving the realism and effectiveness of its training solutions.
Financially, VirTra has demonstrated strong performance. As of the first quarter of 2024, the company reported cash and cash equivalents of $22.4 million. Regular updates and financial summaries are provided to ensure transparency and keep investors informed. VirTra’s management frequently hosts presentations and Q&A sessions to discuss financial results and future prospects, showcasing their commitment to investor relations.
For more information, contact the investor relations team at VTSI@gateway-grp.com or call 949-574-3860.
VirTra, Inc. (Nasdaq: VTSI) has announced its 2024 Annual Meeting of Shareholders, scheduled for Monday, October 21, 2024 at 4:30 p.m. Eastern Time at the company's headquarters in Chandler, AZ. The meeting will also be accessible via webcast. Following the Annual Meeting, VirTra will host an investor event from 2:15 p.m. to 4:00 p.m. Arizona Time.
The investor event will include a presentation on the company's growth strategies, product innovations, and market outlook, featuring CEO John Givens, CFO Alanna Boudreau, and CTO Brandon Cox. Attendees will have the opportunity to experience a live demonstration of VirTra's training simulators, including the V-XR®, and take a guided tour of the company's headquarters and production facilities.
Shareholders of record as of August 26, 2024, are eligible to vote and attend both the Annual Meeting and the investor event. To RSVP for the investor meeting and facility tour, interested parties should email VTSI@gateway-grp.com.
VirTra Inc. (VTSI), a leading provider of judgmental use of force training simulators for law enforcement and military markets, is set to participate in the 2024 Annual Gateway Conference in San Francisco. The company's management team will present on September 5 at 9:00 a.m. PT, with the presentation being webcast live and available for replay.
Additionally, VirTra will conduct a tech demo on September 4. The conference, held at the Four Seasons Hotel, offers VirTra executives the opportunity for one-on-one meetings with potential investors and partners. This event provides a platform for VirTra to showcase its innovative simulation technology and engage with industry professionals.
VirTra Inc (VTSI) reported Q2 2024 financial results, showing mixed performance. Total revenue decreased 41% to $6.1 million, primarily due to federal budget resolution delays. However, bookings doubled sequentially, indicating improved market conditions. Gross margin significantly improved to 91% from 57% in the prior year period. The company maintained robust working capital at $34.8 million.
Key highlights include:
- Advancing V-XR launch preparations
- Appointing Brandon Cox as CTO
- Launching new masterclass training programs
- VirTra simulators approved for DoD-funded research projects
VirTra, Inc. (Nasdaq: VTSI) has appointed Brandon Cox as Chief Technology Officer, effective August 12, 2024. Cox will lead VirTra's expansion into data analytics, drive systems integrations, and spearhead new product development. With over 20 years of experience in creating immersive 3D virtual training environments and cloud technologies, Cox brings a wealth of expertise to the role.
Previously, Cox worked at Bohemia Interactive Simulations and Amazon Web Services (AWS), where he led teams in developing advanced simulation technologies and large-scale cloud consumer products. His appointment is expected to accelerate VirTra's innovation in simulation training technology, particularly in the military sector.
VirTra, Inc. (Nasdaq: VTSI), a global provider of judgmental use of force training simulators and firearms training simulators for law enforcement and military markets, has scheduled its Second Quarter 2024 Conference Call for Monday, August 12, 2024, at 4:30 p.m. Eastern time. The company will release its financial results for the quarter ended June 30, 2024, prior to the call. Management will host a presentation followed by a Q&A session.
Interested parties can join the call using the following details:
- U.S. dial-in: 1-877-407-9208
- International dial-in: 1-201-493-6784
- Conference ID: 13747540
VirTra has announced a strategic leadership change effective July 12, 2024. CEO John Givens will assume the role of Chairman of the Board, succeeding Bob Ferris, who will transition to the Advisory Board. Ferris, known for his pioneering contributions to the simulation industry, has been instrumental in making VirTra a leader in virtual training for law enforcement and military markets. The company is also actively seeking new independent directors to strengthen its Board. John Givens, who has been with VirTra since 2020 and served as CEO since August 2023, is expected to drive the company's long-term growth and operational efficiency, building on Ferris's legacy.
VirTra announced that its V-100 Ballistic Simulator has been approved for Department of Defense (DoD) funded research projects, following a study by Ohio State University. The study confirmed the simulator's accuracy in capturing shooting performance and tracking progress, qualifying it as a reliable research tool. This approval could lead to a standardized performance score system for virtual reality ballistics training. The research, involving 30 participants, highlighted the system's millimeter and millisecond precision. VirTra's technology is now recognized for its reproducibility and potential use in various scientific and military research applications.
VirTra (Nasdaq: VTSI) announced its inclusion in the Russell 3000® Index, effective July 1, 2024. This inclusion is part of the Russell indexes annual reconstitution that ranks the 4,000 largest US stocks by market capitalization. Membership in the Russell 3000® Index also ensures automatic inclusion in either the Russell 1000® or Russell 2000® Index, among others. CEO John Givens stated that this move validates VirTra's strategic progress and boosts its visibility in the investment community. Russell indexes serve as benchmarks for approximately $10.5 trillion in assets.
VirTra (Nasdaq: VTSI) announced its Q1 2024 financial results, showing a 19% drop in revenue to $8.1 million compared to $10 million in Q1 2023. Net income also fell to $1.2 million from $2.9 million, while gross profit decreased by 21% to $5.5 million. The gross margin slightly declined to 67% from 69% due to increased costs from a Microsoft contract. Operational highlights included preparations for the V-XR platform launch, expanded content delivery capabilities, and improved production efficiencies. The company maintained a strong working capital of $33.2 million and continued to enhance its operational processes and ERP systems.
VirTra, Inc. (Nasdaq: VTSI) has scheduled a conference call to discuss its first-quarter financial results on May 14, 2024. The call will include a presentation by VirTra management and a question-and-answer session. Investors can access the call via dial-in or online replay.
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