Virtra Inc Stock Price, News & Analysis

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.

VirTra (NASDAQ: VTSI), a leader in training simulators for law enforcement and military, will attend the 34th Annual Roth Conference from March 13-15, 2022, at The Ritz Carlton, Laguna Niguel, CA. During the event, CEO Bob Ferris will engage in one-on-one meetings with institutional investors and analysts. The conference will feature various growth sectors including Blockchain, Healthcare, and Technology. For registration details, visit here.

VirTra aims to enhance training through innovative simulator technology.

VirTra, Inc. (NASDAQ: VTSI) has secured its first order under a standing offer from the Government of Canada established in December 2021. This order, from a Canadian law enforcement agency, entails supplying multiple training simulators and accessories within three months. The receipt of this order highlights VirTra's expansion into the Canadian market, which streamlines simulator procurement for law enforcement agencies due to a 2015 omnibus bill. VirTra aims to enhance training capabilities for law enforcement and military personnel in Canada.

VirTra, Inc. (NASDAQ: VTSI), a leading provider of judgmental use of force training simulators, has been invited to the 'Take Aim: Lake Street's Shooting Sports & Public Safety Event' on January 26-27, 2022. The event, hosted by Lake Street Capital Markets, aims to showcase investment opportunities in consumer markets. VirTra's Chairman and CEO, Bob Ferris, will conduct one-on-one and group calls with investors on January 27. The company's mission is to enhance training and safety in law enforcement and military sectors through advanced simulation technology.

VirTra, Inc. (NASDAQ: VTSI) has announced a teaming agreement with Action Target Inc. to enhance simulation training systems and live-fire shooting ranges for law enforcement and military markets. This collaboration aims to leverage both companies' expertise to offer a comprehensive solution, benefiting customers globally. The partnership allows for co-branding and mutual sales opportunities while both firms continue their individual marketing efforts. CEOs from both companies express confidence that this collaboration will provide enhanced training solutions to meet customer demands.

VirTra, Inc. (NASDAQ: VTSI) has secured two foreign orders totaling $2.7 million for judgmental use of force training simulators and related training tools. The orders consist of $1.6 million and $1.1 million for various simulators, software, and training measures. Delivery is expected in early 2022 and spring 2022. These contracts enhance VirTra’s position in the law enforcement and military training markets, reflecting the company’s growing international presence and commitment to improving safety through effective training solutions.

VirTra, Inc. (NASDAQ: VTSI) has secured a standing offer from the Government of Canada to supply marksmanship and judgmental use of force simulation technology to various law enforcement and corrections facilities. This award is part of Canada's effort to enhance training across agencies, potentially involving multiple V-ST PRO® simulators and other training tools. CEO Bob Ferris emphasized the honor of providing life-saving training technology, while General Manager Jason Mulcahy highlighted the company's proven track record in 40 countries. This partnership aims to elevate training standards in Canadian law enforcement.

VirTra reported a record quarterly backlog of $21.7 million, up 28% sequentially and 51% year-over-year. Total revenue for Q3 2021 was $6.1 million, a 5% decrease from Q3 2020, but year-to-date revenue grew 26% to $15.8 million. Gross profit was $2.9 million, with a margin of 47.2%. Significant contracts included a $24.5 million deal with DHS and $2.7 million from international contracts. Net income rose to $1.3 million, or $0.12 per diluted share.