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 (Nasdaq: VTSI), a leader in judgmental use-of-force simulation systems, provides this dedicated news hub for tracking its operational developments. Investors and professionals will find authoritative updates on product innovations, financial performance, and strategic partnerships within the law enforcement and military training sectors.
This resource consolidates official press releases and verified news about VirTra's advanced training simulators, scenario software developments, and international distribution expansions. Key updates include quarterly earnings disclosures, new client acquisitions, technology enhancements, and research validation studies demonstrating simulator effectiveness.
Content is organized to serve both active investors and industry observers, with material spanning corporate milestones, regulatory filings, and market expansion efforts. Regular updates ensure stakeholders maintain current awareness of VirTra's role in advancing simulation-based training methodologies.
Bookmark this page for streamlined access to VirTra's evolving position in defense technology. Check back frequently to monitor how the company's patented recoil systems, scenario customization tools, and data analytics capabilities continue shaping modern training protocols across global markets.
VirTra, a provider of judgmental use of force training simulators, reported a 52% increase in total revenue to $6.8 million for Q1 2022, alongside a 44% rise in gross profit to $3.7 million. The net income was $577,000, with adjusted EBITDA up 33% to $997,000. Backlog reached $21.0 million, a 30% year-over-year increase, although it declined from the previous quarter. Operating expenses rose 48% due to higher payroll and marketing costs. The company maintains a strong sales pipeline despite challenges in government funding.
VirTra (NASDAQ: VTSI) reported a 28% revenue growth for 2021, totaling $24.4 million, with $32.9 million in bookings. The year ended with a record backlog of $23.1 million, an increase of 58% year-over-year. In Q4 2021, revenue rose by 32% to $8.6 million, but gross profit fell to $2.8 million due to a military contract impacting margins. Despite a net income of $2.5 million, figures suggest potential concerns with operating income and adjusted EBITDA.
VirTra (NASDAQ: VTSI) will hold a conference call on August 2, 2022, at 4:30 p.m. ET to discuss its audited financial results for the fourth quarter and full year ending December 31, 2021. The call will include a presentation by management followed by a Q&A session. Participants can join via U.S. dial-in or international dial-in numbers provided. A live audio webcast will also be available for listeners, with a replay accessible until August 16, 2022. The company's mission focuses on delivering advanced training solutions for law enforcement and military markets.
VirTra (NASDAQ: VTSI) has secured a contract worth nearly $700,000 with the Federal Law Enforcement Training Centers (FLETC) for the maintenance of 59 simulators used for training federal police officers. These simulators, operational in four locations, will be under an annual service plan ensuring up-to-date technology and training scenarios through 2026. This contract highlights the ongoing partnership and the significance of VirTra's innovative training solutions in enhancing law enforcement effectiveness.
On June 10, 2022, VirTra (NASDAQ: VTSI) announced it has been granted an extension by Nasdaq to regain compliance with its listing rules. The company must file its Annual Report on Form 10-K and Form 10-Q by August 12, 2022. This follows previous notices from Nasdaq regarding non-compliance due to late filings. VirTra specializes in training simulators for law enforcement and military applications, aiming to enhance training through advanced technologies.
VirTra, Inc. (NASDAQ: VTSI) received a notice from Nasdaq on May 17, 2022, indicating non-compliance with Listing Rule 5250(c)(1) due to not filing its Form 10-Q for Q1 2022. This notice does not immediately affect its Nasdaq listing. VirTra has 60 days to submit a compliance plan to Nasdaq, with a potential 180-day extension if accepted. Co-CEO Bob Ferris stated that the company is actively working with its auditor to finalize the necessary financial reports to regain compliance.
VirTra, Inc (NASDAQ: VTSI) has appointed John Givens as co-CEO effective immediately. Givens, a board member since November 2020, previously founded Bohemia Interactive Simulations, which was sold to BAE Systems for $200 million. His leadership is expected to enhance operational excellence and business development within VirTra's law enforcement and military training markets. Givens expressed enthusiasm about leveraging the company's world-class products for growth. Following this appointment, the board will reduce to two independent directors with plans to add one soon.
VirTra (NASDAQ: VTSI), a provider of training simulators for law enforcement and military, received a non-compliance notice from Nasdaq on April 5, 2022, due to the late filing of its Form 10-K for 2021. While this notification does not affect stock listing immediately, failure to regain compliance could lead to delisting. VirTra has 60 days to submit a compliance plan to Nasdaq, with a potential 180-day extension if accepted. CEO Bob Ferris cited growth-related challenges and COVID-19 impacts as reasons for the delay, emphasizing a commitment to complete the audit and file the required documentation promptly.
VirTra (NASDAQ: VTSI) reported a record $32.7 million in sales orders for 2021, marking a 37% year-over-year growth. The company highlighted its strong cash position with $19.7 million in cash and equivalents as of December 31, 2021. Recent achievements include a standing offer from the Government of Canada and $2.7 million in follow-on orders from foreign clients. However, an audit delay was disclosed due to the implementation of a new ERP system, impacting the filing of the annual report. Despite these challenges, management remains optimistic about future growth.
VirTra, Inc. (NASDAQ: VTSI) announced it will hold a conference call on March 31, 2022, to discuss preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2021. The company will file a Form 12b-25 requesting a 15-day extension to file its Annual Report on Form 10-K due to delays in completing its independent audit. These delays are attributed to the integration of a new company-wide ERP system. CEO Bob Ferris stated that despite the delays, the company remains in a strong operational position and anticipates strong financial results for 2021.
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