VirTra Inc (VTSI)

[fishhunter]

Yes, yes, no are my guesses

[NELNEL]

Anyone, is competition from AXON a problem? Are the V-XR better than Axon's eyeware? Better enough to have a PD keep the eyeware out of it's 5 year Bundle?

[fishhunter]

Good grief man. No worries along those lines. I bought more shares today. Difficult for me to see how it doesn’t double by Christmas.

[fishhunter]

VTSI will do better with Givens at the helm vs Ferris. I whine alot but VTSI has been very good to me since I have moved in and out several times. The stock is a great buy right now, as are many others. I’m sitting on the shore of Lemon Bay right now, made an offer on a Manasota Key house yesterday. We might almost be neighbors!

[billpr]

Ouch...
Fish, guess your love affair with Givens has hit the rocks.
Maybe they should try to entice Musk to run the company. 22M in backlog could be turned into toilet paper if he cancels those orders.
Sad day and I'm genuinly sorry. Most of you guys deserve better.

[sharpchicity]

I meant local law enforcement revenue may plateau due to a mixshift in product purchases.

There are plenty of other verticals that could get these guys up towards $50m revenue. I still think that happens whenever military programs roll out. Unfortunately these are all moving slowly and consistently getting delayed. Some day.... And whenever that opportunity comes to fruition, $15 will be more than reasonable.

[in99flyers]

Sharp, thanks for the reply. What it's your outlook for the future l. Do we ever hit $17/share again? You say a couple years of stagnant growth. Sounds like there may be better opportunities elsewhere. Even top large cap growth stocks seem to have more upside at this point. What are your your thoughts? Thanks!

[gbb777]

https://seekingalpha.com/article/4771279-virtra-is-undervalued-now-execution-will-determine-the-upside
Balanced opinion, IMO

[sharpchicity]

They literally cannot grow beyond a consistent $50m selling screened simulators to the US law enforcement market. It's probably more realistic that it's a $30-40m ceiling over time and likely $20m ceiling today. That said V-XR should allow the company to do similar profits at lower revenue (assuming consistent market pricing dynamics) so topline revenue may stagnate a bit over the years as products mix-shift.

This is why I was so happy that John and recent board appointees have joined. There is so much opportunity to expand into other verticals if they can win their markets, especially military.

The company doesn't need to do $50m revenue to be priced much much higher than where it is today, though.

[in99flyers]

Fish do we have a threat of not existing . In other words could you see virtra going bankrupt? I don't see vtsi ever being more than a $50 million/year revenue company at this point

[fishhunter]

It really bugs me how these guys attach themselves to the Feds like a piglet to a nipple. That has always been and will always be the wrong approach. They need to sell product and don’t know how. It is now a 22cent stock. Ferris was smart to bail out.

[fishhunter]

Q1 is over and he refused to answer a simple question about bookings? Grow up Givens.

[chainma1l]

Earnings call transcript:
"Awww shucks, nobody bought our stuff because we don't really have any salespeople. We's incompetent."

[gbb777]

Earnings call transcript
https://uk.investing.com/news/transcripts/earnings-call-transcript-virtra-misses-q4-2024-earnings-stock-drops-93CH-4001866

[in99flyers]

Future quarter comps will be easy to demolish vs 2024. Expectations are low. Working capital of $34 million. Almost what the company is currently worth lol.

[fishhunter]

VTSI just became a great stock to buy (if it dips) between now and Q1 report in mid-May. Afterhours now is meaningless, no volume, nothing for sale.

[The_Gman]

VirTra Reports Fourth Quarter and Full Year 2024 Financial Results.

Fourth Quarter Bookings Grow 37% Sequentially to $12.2 Million
Year-End Backlog Expands to $22.0 Million
CHANDLER, Ariz. — March 27, 2025 — VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement and military markets, reported results for the fourth quarter and full year ended December 31, 2024. The financial statements are available on VirTra’s website and here.

Fourth Quarter 2024 and Recent Operational Highlights:
Fourth quarter bookings totaled $12.2 million, a 37% increase from Q3 2024, with a significant portion recorded in December, positioning VirTra for revenue conversion in early 2025.
Backlog grew to $22.0 million as of December 31, 2024, reflecting continued sales momentum despite federal funding delays.
Secured contracts with government and law enforcement agencies in Europe and Latin America, reinforcing VirTra’s expansion in international government and security training programs.
Secured first sale of the V-XR® training platform in Canada, marking early adoption of the Company’s extended reality training technology.
Maintained robust working capital at $34.8 million, positioning the Company for sustained growth and operational agility.

Fourth Quarter and Full Year 2024 Financial Highlights:
4Q 2024 highlights
*The December 31, 2023 full-year column reflects restated financials.
+The adjusted EBITDA calculation for the three months ended December 31, 2024 gives effect to a negative $750,000 revenue adjustment.
Management Commentary
VirTra CEO John Givens stated, “We closed out 2024 with strong bookings momentum and an expanding backlog despite persistent challenges in the federal funding environment. Bookings increased sequentially each quarter in 2024, demonstrating our ability to navigate the constraints of the federal government’s Continuing Resolution and the resulting delays in contract execution. While we remain encouraged by our growing backlog and international traction, the broader funding environment remains fluid, and we are actively working with policymakers to ensure law enforcement agencies can access critical training resources. Over the past several months, we have met with dozens of legislators, officials at the Department of Justice, and leadership in federal grant offices to advocate for clearer funding structures that prioritize modern training systems. As a trusted partner for Customs and Border Protection (CBP), the Secret Service, and the Federal Law Enforcement Training Center (FLETC), we remain focused on expanding our role in federal law enforcement training initiatives.

“We are also advancing our military initiatives, with key milestones in the U.S. Army’s Integrated Visual Augmentation System (IVAS) program. Our final IVAS development phase was completed 42 days ahead of schedule, leading the Army to finalize testing early and forgo previously planned soldier assessments due to our system’s outstanding performance. The transition of IVAS to Anduril, one of the most capable defense technology firms with a well-established track record in Department of Defense contracting, is a significant positive development. We are actively conducting reliability testing on recoil kits as part of the final prototyping phase and remain confident in our continued involvement, strategically positioning us to effectively support future production-stage opportunities.

“While our sales pipeline has improved, we recognize that there is still work to be done to reach full efficiency. We are laser-focused on accelerating sales growth through a disciplined, strategic approach. This includes expanding and refining our sales organization, improving conversion efficiency, and deepening engagement across our core federal and military customer base. Additionally, we are leveraging AI to drastically reduce video editing time from days to minutes, accelerating high-quality content creation. Training content remains a key differentiator for VirTra, and our ability to rapidly expand and enhance our scenario library strengthens our position as the industry leader in immersive training.

“Looking ahead, we anticipate continued variability in federal funding cycles in the near term, but the long-term need for de-escalation and tactical training continues to expand. The steps we’ve taken to improve operational efficiency, deepen engagement with key federal agencies, and expand our content and scenario development capabilities provide a solid foundation as we navigate 2025.”

Fourth Quarter and Full Year 2024 Financial Results
Total revenue for the fourth quarter was $5.4 million, compared to $10.9 million in the prior year period. This decrease reflects the impact of federal budget delays and grant disbursement pauses, which slowed contract execution and order conversion. While Q4 bookings saw strong sequential growth, many orders came late in the quarter, limiting the Company’s ability to fulfill and recognize revenue within the period.

For the full year 2024, total revenue was $26.4 million, compared to $38.8 million (as restated) in 2023. The decline reflects the impact of budget delays, resulting in softer bookings in early 2024 and delayed order conversion throughout the year.

Gross profit for the fourth quarter was $3.7 million (69% of total revenue), compared to $9.2 million (84% of total revenue) in the prior year period. The decline primarily reflects lower revenue.

For the full year 2024, gross profit totaled $19.4 million (74% of total revenue), compared to $27.4 million (as restated) (71% of total revenue) in 2023. This improvement in gross margin reflects a shift in product mix and operational efficiencies.

Net operating expense for the fourth quarter was $4.2 million, a 13% increase from $3.7 million in the prior year period. The increase was driven by investments in higher-level staff to support long-term growth, expanded sales and marketing efforts, and enhancements to IT infrastructure and compliance for current and future contracts.

For the full year 2024, net operating expense was $17.4 million, compared to $17.0 million in 2023.

Operating (loss) income for the fourth quarter was $(0.5) million, compared to $1.7 million in the fourth quarter of 2023.

For the full year 2024, operating income was $2.0 million, compared to $10.4 million in 2023.

Net (loss) income for the fourth quarter was $(0.9) million, or $(0.08) per diluted share (based on 11.2 million weighted average diluted shares outstanding), compared to $3.5 million, or $0.32 per diluted share (based on 11.0 million weighted average diluted shares outstanding), in the fourth quarter of 2023.

For the full year 2024, net income was $1.4 million, or $0.12 per diluted share (based on 11.2 million weighted average diluted shares outstanding), compared to net income of $9.2 million (as restated), or $0.85 per diluted share (based on 11.0 million weighted average diluted shares outstanding), in 2023.

Adjusted EBITDA, a non-GAAP metric, was ($1.8) million (which included the $750,000 negative revenue adjustment), compared to $3.0 million in the fourth quarter of 2023.

For the full year 2024, adjusted EBITDA, a non-GAAP metric, was $2.9 million, compared to $12.4 million in 2023.

Cash and cash equivalents were $18.0 million at December 31, 2024.

Financial Commentary
CFO Alanna Boudreau stated, “We saw strong momentum in Q4 bookings, with many orders coming late in the quarter. While the timing limited revenue recognition in the period, it contributed to a growing $22.0 million backlog that positions us well for future revenue growth. Full-year 2024 results included a one-time revenue adjustment related to a 2021 international sale, which reduced reported 2024 revenue and increased 2023 results. Additionally, net operating expense included a $275,000 lease settlement tied to a legacy facility contract. Both adjustments were necessary to properly align financial reporting and have now been addressed. Looking ahead, we remain focused on managing costs effectively, increasing operational efficiency even further, and converting backlog into revenue as market conditions evolve. With a $22.0 million backlog, scalable operational infrastructure, and an expanding international pipeline and footprint, we are well-positioned to benefit as opportunities emerge.”

Conference Call
VirTra’s management will hold a conference call today (March 27, 2025) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results. VirTra’s Chief Executive Officer John Givens and Chief Financial Officer Alanna Boudreau will host the call, followed by a question-and-answer period.

U.S. dial-in number: 1-877-407-9208
International number: 1-201-493-6784
Conference ID: 13751824

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of the Company’s website.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through April 10, 2025.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13751824

[dlewisfl]

CHANDLER, Ariz., March 27, 2025 (GLOBE NEWSWIRE) -- VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement and military markets, reported results for the fourth quarter and full year ended December 31, 2024. The financial statements are available on VirTra’s website and here.

Fourth Quarter 2024 and Recent Operational Highlights:

Fourth quarter bookings totaled $12.2 million, a 37% increase from Q3 2024, with a significant portion recorded in December, positioning VirTra for revenue conversion in early 2025.

Backlog grew to $22.0 million as of December 31, 2024, reflecting continued sales momentum despite federal funding delays.

Secured contracts with government and law enforcement agencies in Europe and Latin America, reinforcing VirTra’s expansion in international government and security training programs.

Secured first sale of the V-XR® training platform in Canada, marking early adoption of the Company’s extended reality training technology.

Maintained robust working capital at $34.8 million, positioning the Company for sustained growth and operational agility.

Management Commentary

VirTra CEO John Givens stated, “We closed out 2024 with strong bookings momentum and an expanding backlog despite persistent challenges in the federal funding environment. Bookings increased sequentially each quarter in 2024, demonstrating our ability to navigate the constraints of the federal government’s Continuing Resolution and the resulting delays in contract execution. While we remain encouraged by our growing backlog and international traction, the broader funding environment remains fluid, and we are actively working with policymakers to ensure law enforcement agencies can access critical training resources. Over the past several months, we have met with dozens of legislators, officials at the Department of Justice, and leadership in federal grant offices to advocate for clearer funding structures that prioritize modern training systems. As a trusted partner for Customs and Border Protection (CBP), the Secret Service, and the Federal Law Enforcement Training Center (FLETC), we remain focused on expanding our role in federal law enforcement training initiatives.

“We are also advancing our military initiatives, with key milestones in the U.S. Army’s Integrated Visual Augmentation System (IVAS) program. Our final IVAS development phase was completed 42 days ahead of schedule, leading the Army to finalize testing early and forgo previously planned soldier assessments due to our system’s outstanding performance. The transition of IVAS to Anduril, one of the most capable defense technology firms with a well-established track record in Department of Defense contracting, is a significant positive development. We are actively conducting reliability testing on recoil kits as part of the final prototyping phase and remain confident in our continued involvement, strategically positioning us to effectively support future production-stage opportunities.

“While our sales pipeline has improved, we recognize that there is still work to be done to reach full efficiency. We are laser-focused on accelerating sales growth through a disciplined, strategic approach. This includes expanding and refining our sales organization, improving conversion efficiency, and deepening engagement across our core federal and military customer base. Additionally, we are leveraging AI to drastically reduce video editing time from days to minutes, accelerating high-quality content creation. Training content remains a key differentiator for VirTra, and our ability to rapidly expand and enhance our scenario library strengthens our position as the industry leader in immersive training.

“Looking ahead, we anticipate continued variability in federal funding cycles in the near term, but the long-term need for de-escalation and tactical training continues to expand. The steps we’ve taken to improve operational efficiency, deepen engagement with key federal agencies, and expand our content and scenario development capabilities provide a solid foundation as we navigate 2025.”

Fourth Quarter and Full Year 2024 Financial Results

Total revenue for the fourth quarter was $5.4 million, compared to $10.9 million in the prior year period. This decrease reflects the impact of federal budget delays and grant disbursement pauses, which slowed contract execution and order conversion. While Q4 bookings saw strong sequential growth, many orders came late in the quarter, limiting the Company’s ability to fulfill and recognize revenue within the period.

For the full year 2024, total revenue was $26.4 million, compared to $38.8 million (as restated) in 2023. The decline reflects the impact of budget delays, resulting in softer bookings in early 2024 and delayed order conversion throughout the year.

Gross profit for the fourth quarter was $3.7 million (69% of total revenue), compared to $9.2 million (84% of total revenue) in the prior year period. The decline primarily reflects lower revenue.

For the full year 2024, gross profit totaled $19.4 million (74% of total revenue), compared to $27.4 million (as restated) (71% of total revenue) in 2023. This improvement in gross margin reflects a shift in product mix and operational efficiencies.

Net operating expense for the fourth quarter was $4.2 million, a 13% increase from $3.7 million in the prior year period. The increase was driven by investments in higher-level staff to support long-term growth, expanded sales and marketing efforts, and enhancements to IT infrastructure and compliance for current and future contracts.

For the full year 2024, net operating expense was $17.4 million, compared to $17.0 million in 2023.

Operating (loss) income for the fourth quarter was $(0.5) million, compared to $1.7 million in the fourth quarter of 2023.

For the full year 2024, operating income was $2.0 million, compared to $10.4 million in 2023.

Net (loss) income for the fourth quarter was $(0.9) million, or $(0.08) per diluted share (based on 11.2 million weighted average diluted shares outstanding), compared to $3.5 million, or $0.32 per diluted share (based on 11.0 million weighted average diluted shares outstanding), in the fourth quarter of 2023.

For the full year 2024, net income was $1.4 million, or $0.12 per diluted share (based on 11.2 million weighted average diluted shares outstanding), compared to net income of $9.2 million (as restated), or $0.85 per diluted share (based on 11.0 million weighted average diluted shares outstanding), in 2023.

Adjusted EBITDA, a non-GAAP metric, was ($1.8) million (which included the $750,000 negative revenue adjustment), compared to $3.0 million in the fourth quarter of 2023.

For the full year 2024, adjusted EBITDA, a non-GAAP metric, was $2.9 million, compared to $12.4 million in 2023.

Cash and cash equivalents were $18.0 million at December 31, 2024.

Financial Commentary

CFO Alanna Boudreau stated, “We saw strong momentum in Q4 bookings, with many orders coming late in the quarter. While the timing limited revenue recognition in the period, it contributed to a growing $22.0 million backlog that positions us well for future revenue growth. Full-year 2024 results included a one-time revenue adjustment related to a 2021 international sale, which reduced reported 2024 revenue and increased 2023 results. Additionally, net operating expense included a $275,000 lease settlement tied to a legacy facility contract. Both adjustments were necessary to properly align financial reporting and have now been addressed. Looking ahead, we remain focused on managing costs effectively, increasing operational efficiency even further, and converting backlog into revenue as market conditions evolve. With a $22.0 million backlog, scalable operational infrastructure, and an expanding international pipeline and footprint, we are well-positioned to benefit as opportunities emerge.”

[fishhunter]

It is still inexcusable that they take almost the full 90 days to release Q4 and Full Year results. They knew the numbers by about January 8th. For the umpteenth time, why not issue the preliminary numbers in mid-January and then the final fully audited numbers in late March? They don't do it because they do not care about shareholders or potential investors. That is also why they don't issue forward guidance. Ferris, Ferris, Ferris..... come back and be a hero.

[gbb777]

4 days before the deadline. Positive

[fishhunter]

What’s a good over/under number to split the wagers? $4.5mil?

[gbb777]

CC on 3/27 

[fishhunter]

1000% Agree

[in99flyers]

You may be right. Maybe there is some material Information that hasn't been disclosed. Maybe we are growing by leaps ND bounds. All I know is that there are a ton of stocks out there over the last decade that have mooned and we sit here with vtsi, a great story and one filled with optimism that has kind of flopped.

[Coys881]

No better way to stick it to the market than to buy back a big block of shares with the spare cash in your balance sheet…

[fishhunter]

I don’t know. In a perverse way, I’m starting to like the dead silence. My gut suggests Givens would like to stick it to the market. I also think the current share price is potentially dangerous to Givens. A hostile party could easily buy out the company for under $100mil right now. And Givens and BOD do not own enough to prevent it.

[in99flyers]

Hard to believe we were over $17 a year ago. And nothing but crickets from management. I wonder if this company is dead.

[fishhunter]

Only got 2000 more below 4.90.....was walking the beach and not paying attention.

[fishhunter]

Ha ha! Though in my defense, VTSI has made me alot of $ over the last 15 years, I have been either lucky or smart to have generally bought low and sold high. I was all the way out and back in deep 3 different times. Most recently I was all the way out as it neared $17. Now getting back up to a pretty big position again, even bought several thousand more shares today at 5.16avg. My buys today put me up and over about 1% of outstanding. Top 5 position for me.....again.

The problem with all posters, me included, is that none of us know anything with regard to VirTra. That was not the case when Ferris was posting here (my belief) regularly.

At today's closing price, the VirTra enterprise value could be about 1X forward revenue. That doesn't necessarily mean its a great buy but I do think history will repeat and it will run again to $15 - $20.

[dlewisfl]

I don't know fish, sharp has been right a lot about this stock. You, not so much. 😄

[fishhunter]

Bought a bunch more today! ….one sentence in your post was correct, congrats!

[gbb777]

Virtra between 500k and 600k shares shorted, almost 6% of the float. Seeking some insight here. Guys?

[sharpchicity]

Nobody has cared about this stock for years because management doesn't make it easy for investors to project future numbers. Now you have a myriad of factors like broad political chaos, federal budget cuts, negative IVAS news, no public progress on other STE programs, ever-increase OPEX, increasing competition, and even more lack of transparency from new management which all contribute to scaring away potential investors. Until any of this changes, the stock price will languish.

I don't think any investor knows shit.

The stock currently trades at < 10X EV/EBITDA and close enough to liquidation value if they were to stop doing anything. Time will tell whether that's a fair price for a company that is more than likely going to grow over time.

[weo1998]

Do these guys even have anything? No news since December, heck they haven't even announced the conference call for earnings and that has to be coming up unless they aren't doing that anymore. The way the stock is trading says they don't have shit. Just my opinion.

[fishhunter]

Please pass me a double of whatever you are drinking!

[Dibbs 1]

Im surprised the stock price isnt lower and think its held pretty good considering. I thought 3rd quarter call was worst ive heard. He just read his statement word for word no excitement or enthusiasm and no questions at the end. Knowing that was the last we would hear from virtra till the end of March was very frustrating.
I still have faith in Givens and hopeful for this year. I think at least 2 out of the 4 quarters they announce will be record breaking quarters and this stock can move up very quickly. I think we could be back to between $15-$20 by mid June?
Hopefully they announce they are working with Anduril on the next call or i hope someone at least asks the question at the end. Who knows maybe Anduril buys us in 2026?

[Fantom19]

Didn't know Axon has Ax to grind w Ferris

[fishhunter]

Axon will not buy VirTra until there are no VTSI shares owned by anyone with the name Ferris.

[Fantom19]

Get axon CEO on the fishphone and tell him to buy Virt

[fishhunter]

Axon up another $70 today. Should get to $1000/share later this year and easy $50billion market cap. Tons of growth, tons of opportunity. And VirTra.....

[fishhunter]

The 6 job listings on VirTras website are all petty zero value add positions. Nothing indicating growth or new products. Looks like Givens is not the real deal.

[fishhunter]

I bought more sub $6 shares today. I figure I can stomach a 3 month hold. q4 late March, q1 mid May….will be interesting to see if VirTra is still functioning.

[BCBA11]

Interesting listen...lucky is the real deal, a fascinating character

[mccd]

https://www.uploadvr.com/palmer-luckey-describes-anduril-eagleeye-helmet-soldiers-superhuman-senses/

Since it can take input from all sorts of different sensors and systems, hopefully they are still planning on a training piece from Virtra.

(I did not watch the full interview so not sure if anything is mentioned about training)

[fishhunter]

$5.80….52 week low is coming.
Think about how inept VirTra is with respect to getting out their Q4 numbers. Only 6 more weeks of waiting…..then they will claim they don’t know how Q1 will turn out even though it is already finished. What a ship show.

[fishhunter]

Short term bad, Long term good. Any sort of transition will cause delays. Microsoft never did care about this project because it is of zero importance to Microsoft's core products and direction. However, this is a game changer and extremely important for Anduril so there should be more pressure from Anduril to advance the project.
Where is CEO Givens? What is he doing? Does he still work for VirTra?

[mccd]

Not sure if this is good, bad, or indifferent as far as Virtra is concerned...
https://www.cnbc.com/2025/02/11/anduril-to-take-over-microsofts-22-billion-us-army-headset-program.html

[The_Gman]

All good! It happens. I do the same search. Today's date is at the very top of the page, so it probably hit on that.

I remembered Canada getting one off the standing offer a few years back, so the "first-of-its-kind" thing made me look..

https://www.virtra.com/virtra-receives-follow-on-order-from-canada-standing-offer/

[gbb777]

Article came up with a Google search for the last 24 hours. Weird, did not see the date. My apology to the board, should have been more attentive. Old age setting in.

[The_Gman]

I think that article is from 2014?

New Saskatoon Police HQ Sets Standard in Canada
John Tenpenny September 24, 2014