Virtra Inc Stock Price, News & Analysis

VirTra (NASDAQ: VTSI) announced its participation in the 10th Annual Gateway Conference on September 8-9, 2021. The company will present on September 8 at 8:30 AM PT, with one-on-one meetings available throughout the event. The presentation will be available for live webcast and replay here.

VirTra, Inc. (NASDAQ: VTSI) has secured a new contract from the U.S. Department of Homeland Security for Customs and Border Protection, valued at approximately $1.4 million. The five-year contract, with a potential ceiling of $24.5 million, includes warranty, service for existing systems, and new technology such as 4K simulator systems and TASER training kits. General Manager Jason Mulcahy emphasized the value and market demand for VirTra's solutions in effective simulation training.

VirTra (NASDAQ: VTSI), a leader in training simulators for law enforcement and military sectors, has acquired a 4.3-acre property in Chandler, Arizona, for $10.8 million. This includes $8.6 million financed through a mortgage. The new facility, featuring 76,650 square feet, is expected to enhance operational efficiency over the current 42,860 square feet spread across two leased locations. The move aims to support anticipated growth in training simulator production and is set to be completed within nine months, with plans to sub-lease existing spaces.

VirTra, Inc. (NASDAQ: VTSI) reported impressive financial results for Q2 and the first half of 2021, marked by a 90% increase in total revenue to $5.3 million and a 99% boost in gross profit to $3.1 million. The company achieved a net income of $529,400 for Q2 and $1.2 million for the first six months. Adjusted EBITDA rose to $1.0 million in Q2. Backlog reached a record $17.0 million, showing a 19% year-over-year growth. Management expressed confidence in future growth driven by rising demand in law enforcement and military training.

VirTra, a global provider of training simulators for various markets, will host a conference call on August 12, 2021, at 4:30 p.m. Eastern Time to discuss its financial results for Q2 2021, which ends on June 30, 2021. A press release detailing these results will precede the call. The management team will present their findings followed by a Q&A session. A live audio webcast will be accessible and a replay will be available through August 26, 2021.

VirTra, Inc. (NASDAQ: VTSI) has received an $800,000 delivery order under a five-year indefinite delivery/indefinite quantity (IDIQ) contract from the U.S. Department of Homeland Security for U.S. Customs and Border Protection (CBP). This order is part of a contract initially awarded in September 2019, potentially generating up to $5.0 million over its duration. VirTra will provide CBP with video-based simulators and custom training content, emphasizing the importance of effective training tools for CBP agents.

VirTra, Inc. (NASDAQ: VTSI) will present at the 2021 LD Micro Invitational XI virtually from June 8-10. Chairman and CEO Bob Ferris is scheduled to speak on June 8 at 2:00 PM Eastern Time (11:00 AM Pacific Time). Interested participants can register for the webcast through the provided link. VirTra specializes in training simulators for law enforcement and military applications, emphasizing judgmental use-of-force and firearms training through advanced virtual reality technology. The company aims to enhance safety and effectiveness in critical training scenarios.

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.