Virtra Inc Stock Price, News & Analysis

VirTra, Inc. (NASDAQ: VTSI) reported record bookings of $16.7 million for Q3 2022, a 52% increase year-over-year, contributing to a backlog of $28.3 million, up 30%. Despite the strong bookings, total revenue fell 20% to $4.9 million due to unbilled sales, resulting in a net loss of $803,000. For the first nine months of 2022, revenue rose 24% to $19.7 million, and gross profit increased 28% to $10.9 million. While management highlights growth potential with new initiatives and the Orlando facility opening, operational costs and lower Q3 revenues raise concerns.

VirTra, Inc. (NASDAQ: VTSI) has announced a conference call scheduled for November 14, 2022, at 4:30 p.m. Eastern time. The call will discuss the company's financial results for Q3 ending September 30, 2022. Prior to the call, a press release will provide the financial data. Investors can access the live broadcast and replay through the company’s investor relations website. This conference aims to provide insights into VirTra's performance within the law enforcement and military training markets.

VirTra, a global provider of judgmental use of force training simulators (NASDAQ: VTSI), has unveiled its innovative technology, VirTra Volumetric Video (V3™). This technology significantly enhances training realism for law enforcement and military markets by blending high-definition video capture with 3D characters, addressing previous limitations in training simulations. The V3™ studio features advanced sound-proof technology and can create a comprehensive library of training content. With a multi-year exclusivity for using patented technology from 4DViews, VirTra aims to elevate simulation training effectiveness.

VirTra (NASDAQ: VTSI) has announced a new facility in Orlando, Florida, aimed at expanding its military market opportunities. The 9,000 square foot site will support research, development, and training demonstrations of advanced simulators, including the V-300® 4K and V-ST PRO®. An open house is scheduled for October 20, 2022, to showcase the new location and technology. This move is part of VirTra’s strategy to connect more effectively with military decision-makers.

VirTra (NASDAQ: VTSI) will hold its 2022 Annual Meeting of Shareholders virtually on November 8, 2022, at 4:30 p.m. ET. Shareholders recorded by September 23, 2022, can participate and vote. Proxy materials are available on the company's investor relations site. VirTra specializes in judgmental use of force training simulators for law enforcement and military markets, utilizing patented technologies for effective training in de-escalation and marksmanship. Their mission focuses on improving lives worldwide through advanced simulation technologies.

VirTra (NASDAQ: VTSI) has secured two significant orders totaling approximately $9.0 million from the U.S. Customs and Border Protection (CBP) and another federal agency. The orders include the V-300^® and V-100^® training simulators, recoil kits, and additional accessories, with deliveries expected within eight months. This accomplishment highlights the ongoing demand for advanced training technologies within federal agencies, reinforcing VirTra's position in the market.

VirTra, a global leader in judgmental use of force training simulators, has appointed Danielle Diaz as the new Chief Financial Officer as of August 24, 2022. She replaces Marsha J. Foxx, who left the company without any disagreements regarding accounting practices. Diaz brings over 20 years of financial leadership experience from various industries, including her previous roles as CFO at F&B Manufacturing and Bakersfield Heart Hospital. The company anticipates her extensive expertise will enhance its growth trajectory and operational efficiency.

VirTra, Inc. (NASDAQ: VTSI) reported robust financial results for Q2 and the first half of 2022, with total revenue increasing 52% to $8.0 million and $14.8 million, respectively. Gross profit also surged 51% to $4.7 million, reflecting a 59% gross margin. Net income rose to $787,000 in Q2 and $1.4 million for six months. Adjusted EBITDA reached $1.3 million and $2.3 million for the respective periods. Backlog remains strong at $16.5 million. Management remains optimistic about future growth opportunities amidst strong market demand.

VirTra, a global provider of judgmental use of force training simulators, announced a CAD$1.2 million (USD$0.9 million) order from a Canadian law enforcement agency. This order is part of a standing offer with the Government of Canada, aimed at supplying simulation technology to law enforcement facilities. The order includes V-100 and V-180 simulators, alongside training for system operation. Delivery is scheduled by February 2023. VirTra aims to enhance its market presence outside the U.S., continuing its mission to provide effective training solutions.