Virtra Inc Stock Price, News & Analysis

VirTra, Inc. (NASDAQ: VTSI) reported a 33% increase in revenues to $4.4 million for Q1 2021, compared to $3.3 million in Q1 2020. Net income surged to $655,000 from a loss of $389,000, and adjusted EBITDA rose to $751,000 from a loss of $326,000. The backlog reached a record $16.1 million, up 42% year-over-year. Additionally, VirTra successfully completed a registered direct offering, raising $18 million in gross proceeds, enhancing its cash position to approximately $23.7 million as of May 17, 2021. Management expects continued growth in 2021, supported by strong demand.

VirTra, Inc. (NASDAQ: VTSI) announced a conference call to discuss its financial results for Q1 2021, scheduled for May 17, 2021, at 4:30 p.m. ET. This follows the expected release of their financial results prior to the call. Interested parties can join the call via a U.S. dial-in number or an international number. The call aims to provide insight into the company’s performance and will include a Q&A session. A replay will be accessible until May 31, 2021. VirTra focuses on judgmental use of force training simulators and related technologies to enhance safety and training effectiveness.

VirTra, a global provider of training simulators for law enforcement and military, has successfully closed a registered direct offering of 3 million shares at $6.00 each, generating total gross proceeds of $18 million. This offering, conducted on April 5, 2021, aims to fund the company’s strategic roadmap, expand production capacities, and capitalize on high-value opportunities. Roth Capital Partners and Lake Street Capital Markets were involved as placement agents. The shares were offered under a shelf registration, with details available on the SEC's website.

VirTra, Inc. (NASDAQ: VTSI) has entered into a securities purchase agreement to sell 3 million shares at $6.00 each, raising a total of $18 million. This offering, which exceeds the Nasdaq's minimum price rule, is expected to close by April 5, 2021. Roth Capital Partners leads the placement, with proceeds designated for general corporate purposes, including working capital. A prospectus supplement will be filed with the SEC to detail the offering. This step aims to strengthen VirTra's financial position as a provider of training simulators for various markets.

VirTra reported a 15th consecutive year of revenue growth, with total revenue increasing 2% to $19.1 million in 2020, driven by simulator sales and training solutions. The company achieved a net income of $1.5 million, translating to $0.19 per diluted share, reversing a loss from the previous year. Adjusted EBITDA surged by 161% to $2.8 million. Despite pandemic challenges, VirTra's backlog reached a record $14.6 million. The cash position doubled to $6.8 million, affirming financial stability.

VirTra, Inc. (NASDAQ: VTSI) will host a conference call on March 29, 2021, at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2020. This call will provide insights into the company's performance and future outlook, following the release of financial results prior to the call. Interested parties are encouraged to join by dialing in 5-10 minutes early. A replay will be available post-call until April 29, 2021.

VirTra, Inc. (NASDAQ: VTSI), a leader in training simulators for law enforcement and military, will present at the 33rd Annual Roth Conference held virtually from March 15-17. During this event, CEO Bob Ferris will conduct one-on-one meetings with institutional investors and analysts. VirTra specializes in innovative judgmental use of force training simulators and technologies aimed at enhancing safety and effectiveness in real-world scenarios. For more information or to schedule a meeting, interested parties should contact VirTra's IR team.

VirTra, Inc. (NASDAQ: VTSI) announced the appointment of Marsha J. Foxx as Interim Vice President Chief Accounting Officer, succeeding retiring CFO Judy Henry. With over 20 years of finance experience, Foxx has held leadership roles in technology and healthcare and aims to leverage her expertise for VirTra's expansion. Bob Ferris, chairman and CEO, expressed confidence in Foxx's skills complementing the company's growth strategy. Foxx acknowledged the firm's consistent growth and operational advancements, looking forward to contributing to its next phase.

VirTra, a global provider of training simulators (NASDAQ: VTSI), has announced the winners of the VirTra and Force Science Scholarship Award, which enables twelve peace officers to attend a Force Science Analyst Certification Course in 2021. The scholarship covers the $1,650 course fee, enhancing law enforcement training. This initiative aims to improve officers' understanding of human behavior in use-of-force scenarios. Courses will be held in twelve cities nationwide, emphasizing research-based training for better community safety.