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Agree Flyer! And Givens said he expect the second half to be strong contract wise. We still got a long way to go!
With a current market cap of 170 million ($15.30/share), i still think we are too low. There are other companies with higher valuations that have no growth, no profits and a bad balance sheet. We could double and still be fairly valued my humble opinion.
ROTH has just raised its VTSI price target to $19
Lol!!! Where is everyone? At the pub? Or do they only come out when they want to complain???
"Must be some insider trading going on. Selling off shares knowing bad earnings is upon us before it being publicly released. Not cool."
Good call! LOL!!!!
I think we are trading at an all time high? Could be wrong it may have been higher at some point before all the splits, etc. but 2.million + volume! Wow!? I hope a secondary isn't coming lol. That would be very fitting for this company. Hope things are turning a new leaf.
nice day congrat$ https://finviz.com/quote.ashx?t=VTSI&ty=c&ta=1&p=d
100% Weeb, I think you can pretty much surmise it is a significant military contract.
100% Weeb, I think you can pretty much surmise it is a significant military contract.
Anyone want to estimate how big the contract is if they're getting 3m upfront???
Congrats on the 30% gain today. Awesome on an ugly day for the broader markets. But didn't VTSI recognize a $3M milestone payment in Q4? That woulda been almost pure profit. Without that, the quarter woulda looked much different...
From the earnings PR-
Gross profit increased 64% to $26.7 million from $16.3 million in 2022. Gross profit margin was 70%, an increase compared to 57% in 2022. The increase in gross profit margin was primarily due to the aforementioned increase in revenue while maintaining cost of sales in line with 2022 levels. Also contributing to this increase was an unusual event of the Company’s receiving a $3 million kickoff milestone payment in connection with a contract for custom work, for which no significant costs were associated.
And the CC-
Our gross profit for 2023 increased 64% to $26.7 million or 70% of revenue compared to $16.3 million or 57% of revenue in the prior year period. For the fourth quarter, gross profit increased 58% to $8.4 million or 83% of revenue from $5.3 million or 61% of revenue in the fourth quarter of 2022. The increase in gross profit margin for both the 3- and 12-month periods can be attributed to increased sales alongside a decrease in the cost of sales. Thanks to operational efficiencies as well as an initial milestone payment from a contract with no significant associated costs.
On shark tank they talk about 50m in rev being the magic number for a buyout. We should reach that this year...
Got this from the VirTra Facebook page. Sounds like he might have done it today.
Good interview!
https://radicl.com/radicl-blog/virtra-bob-ferris-pioneering-virtual-training-for-defense-advancement
For the first time, Bob did not (co)host a conference call.
Impressed that the actual Q4 and full 2023 report exceeded, on all counts, the already very positive TTM numbers in January’s investor presentation! Sets the stage for strong 2024 and finally realizing Virtra’s value and potential.
It's so sad that this company could have been a $100-$200 million in saless or more if it was in the right hands 8 years ago. I hope we can play catch up. Great job Givens.Keep up the great work. Think about gettnig a new Board and Chairman. at least ones that believe in the company's future that are willing to get some skin in the game and not just sit back and collect free shares by being on the board and then selling them, also hoping this year we will hold an annual in-person shareholders meeting.
Looks like a few people got some cheap shares after hours.
I'm happy. The new product should send this to new highs.
Nice Q! Another 10 mil plus quarter 2.8 mul net!
Congrats All longs! Really good report. Stock should move up. I’m mostly out for now but will get back in deeper even if I have to pay up.
Hopefully just profit taking
I was thinking the same thing… hope we are mistaken
Must be some insider trading going on. Selling off shares knowing bad earnings is upon us before it being publicly released. Not cool.
Hopefully we get a good report today, looking forward to it!
Games to steal shares? This could still close over $10
Resurfacing this info in anticipation of the Q:
The Q3 PR said that they will continue to see YoY growth in Q4 for revenue, (unless they meant YoY trailing full year or something?)
"Our pipeline continues to grow while our backlog remains healthy and will continue to provide our year-over-year revenue increase in the fourth quarter."
Q4 22 was 8.6m
On the call CFO said that Q1 2023 margins (68%) should be closer to the norm than what occurred in Q3 (71%). So say 9m revenue at 68% gross profit with approximately Q3s expenses that should get us to ~.20 EPS, right? TTM of 0.70.
Just reviewed the Investor Presentation on Virtra’s website, in anticipation of their Q4 and 2023 annual earnings report on April 1.
The presentation, as a summarized story of Virtra for the investor, is very nicely coming together. The historical revenue, earnings, net income and cash trends on slides 16 and 17 (and hinting at EOY 2023 with Q3’s Twelve Month Trailing) are especially compelling.
Not sure who is admin on this board any more, but we haven’t had a “sticky” post for a while. Perhaps this is worth posting until the April 1 earnings call and release?
https://www.virtra.com/wp-content/uploads/VirTra-Investor-Presentation-January-2024-FINAL.pdf
Might actually get out of these CRs and finally get a FY24 budget for Defense, Homeland and State-Foreign Operations halfway through the year!
Spending deal done, though final action could slip past deadline
More time needed to prep bill text, pass in both chambers, deliver to Biden
By Aidan Quigley
Posted March 18, 2024 at 4:26pm, Updated at 9:42pm
As a result, the formal posting of the final six-bill package could slip to as late as Wednesday, sources familiar with the state of play said, though they were hoping to unveil it late Tuesday.
If Speaker Mike Johnson, R-La., adheres to his chamber’s 72-hour review window before the vote — likely to be on suspension of the rules, requiring two-thirds support — that could push off the House vote until Saturday. And then given Senate procedural hoops, including at least one potential cloture vote, it could be Monday before the package heads to President Joe Biden’s desk for his signature.
Q4 and Full Year Monday, April 1, 2024 at 4:30 p.m. ET
CHANDLER, Ariz. — March 18, 2024 — 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, will hold a conference call on Monday, April 1, 2024 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the fourth quarter and full year ended December 31, 2023. Financial results will be issued in a press release prior to the call.
VirTra management will host the presentation, followed by a question-and-answer period.
Date: Monday, April 1, 2024
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
U.S. dial-in: 1-877-407-9208
International dial-in: 1-201-493-6784
I'm not necessarily negative on the company overall or it's profitability, but more so near term revenue projections and its recent past revenue mix.
Cons
* SVT Weapons continues to get pushed back and is now looking like a FY25 award instead of FY24 due to funding constraints.
* SVT part 2 (use of force & JFT) prototype was supposed to happen 2qFY24 but has been pushed back to 3QFY25 through 1QFY27 with an initial RFI only recently released.
* SiVT continues to not be tested outdoors due to challenges handling complex terrain. Prior commentary was that the program wouldn't continue long term with only-indoor capabilities. While I wouldn't be shocked to see that comment get walked back, I'm hesitant to think FY25 is going to be the year it magically works and rolled out broadly.
* STEP program is closer to 0% y/y growth than it is to 50%
* L12 month bookings less the $4m weapon prototyping is the worst it has been since pre-covid
This all said, for what little a random guy's portfolio allocation is worth, VTSI is still my largest position.
Sharp your view seems to be negative the last few months (always appreciate people sharing the good and the bad). The first and second quarters are usually pretty strong, what is your view the next few months/year?
Back in the day, I was estimating ~$3000 revenue per HUD for SiVT. FY25 IVAS is requesting 3100 HUDs.
I’m not yet sold that all/any of these IVAS kits will be used in conjunction with SiVT in FY25. Nor that delivery will happen any time soon after an initial order.
The Army requested 165 million for IVAS for FY24 and that budget is still pending.
https://www.defensedaily.com/army-seeks-165-million-for-ivas-1-2-in-fy-24-fielding-may-begin-by-late-fy-25/army/
https://breakingdefense.com/2023/09/army-fielding-up-to-50-ivas-1-0-mixed-reality-goggles-to-soldiers-at-fort-moore/
However, Dresch said a production plan for IVAS 1.1 is inked, and Microsoft has a deal with a subcontractor to begin producing those 5,000 units around the January-March 2004 timeframe. If all goes as planned, some of the 1.1 units will start rolling off the production line by mid-calendar year 2024 and delivered to the Army before the end of September 2024.
Never seen a price list like that before. I wonder if that will help Sharp out even more with his estimates. Good stuff!
Czmkid
Thanks Gman! great stuff! I'm getting a good feeling that things are REALLY starting to line up for some potentially big contracts
IVAS Update:
The Army, which released its Fiscal Year 2025 budget request Monday, is asking Congress for $256 million to buy Integrated Visual Augmentation Systems and $98 million for its research and development. The Army’s plan is to field 3,162 systems for Initial Operational Test & Evaluation to combat units this year.
They have 90days from end of fiscal year.
45days from end of q1/2/3.
Usually the very end of March. eom
Thanks ARZ! Good to hear!
I spoke with investor relations a few days ago and they have not released a date yet. I was told they normally annouce the date 2 weeks in advanced.
I also ask him if they would be late in reporting and he told me 100% they would not be.
Did I miss it or do we have a Q4/2023 annual report release and call date?
Today’s News of the investor conference pins March 17-19.
I would expect Q4/2023 beforehand so they can freely discuss the results with investors and analysts at the conference…. Please don’t repeat prior auditor delays!
Here is today’s release content:
VirTra to Participate in the 36th Annual ROTH Conference on March 17-19, 2024
Source: GlobeNewswire Inc.
VirTra, Inc. (Nasdaq: VTSI) (“VirTra”), a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement and military markets, will be attending the 36th Annual ROTH Conference being held March 17-19, 2024 at The Ritz Carlton, Laguna Niguel located in Dana Point, CA.
VirTra management will hold one-on-one meetings with institutional investors and analysts throughout the conference. For additional information or to schedule a one-on-one meeting with VirTra management, please contact your Roth representative or VirTra’s investor relations team at VTSI@gateway-grp.com.
About VirTra
VirTra (Nasdaq: VTSI) is a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.
Investor Relations Contact:
Matt Glover and Alec Wilson
Gateway Group, Inc.
VTSI@gateway-grp.com
949-574-3860
I got one too! I got North East contact... I have also noticed A LOT more posts by Virtra employees/Sales on Indeed.com. I think it's part of ramping up the sales and awareness campaigns
Don't recall ever receiving a sales contact email! Maybe sales is actually becoming a thing now?
(I deleted his name and contacted info, but PM me if you'd like it)
Hello
I wanted to reach out to you formally introduce myself as your Regional Sales Manager (RSM). I will be working with clients in Northern California, Oregon, Washington, Idaho, Montana, Colorado, Utah, Wyoming, Nebraska, Kansas, and Alaska. If you need anything, please reach out to me and I will be glad to assist you!
Here is my contact information:
Northwest Region Sales Manager
If you wish to get in touch with service, you can send an email to service @bagus-5977. You can also access manuals, how-to videos, and more on the V-RC Portal - sign up if you haven't done so already!
Thank you and stay safe,
House passes first funding package to avert a partial government shutdown
The bill now heads to the Senate ahead of a Friday night deadline to avoid a shutdown. But Congress will face yet another funding lapse in just two weeks.
https://www.nbcnews.com/politics/congress/house-passes-first-funding-package-avert-partial-government-shutdown-rcna142048
The first set of appropriations bills are scheduled to expire on March 8 -- Agriculture, Energy-Water, Military Construction-VA, and Transportation-HUD (previously scheduled to expire March 1). The second set of appropriations bills are scheduled to expire two weeks later, on Friday, March 22 -- Commerce-Justice-Science, Defense, Financial Services-General Government, Homeland Security, Interior-Environment, Labor-HHS-Education, Legislative Branch, and State-Foreign Operations
https://www.crfb.org/blogs/appropriations-watch-fy-2024
Maybe we'll still have time to get in a few sales this FY!
Examining some places where AI has already been deployed within the military
By John Breeden II
FEBRUARY 26, 2024
There are a few areas where these efforts, even if they are far from the frontlines, are starting to prove their value.
https://www.nextgov.com/artificial-intelligence/2024/02/examining-where-ai-has-already-been-deployed-within-military/394464/
(and yes, it's spelled "Virtia" in the article)
VirTra: Competitive Advantages In Police Training Industry
Feb. 29, 2024 Andes Capital
Given these premises, the net present value of VirTra shares is $13.95; thus, I consider the shares to be undervalued at their current price of $9.69, giving a wide margin of safety (>30%). Consequently, at the current prices, the company is a ‘Buy’ with significant protection against downside risk.
Hahaha you are right. I am just frustrated the last few days. I don't have the poetic talent that twister has lol.
What a lazy post. At least put it into a poem! Twister, can you help this guy out?
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COMPANY PROFILE: VirTra Systems, Inc. develops, sells, and supports use-of-force and marksmanship firearms training simulators in Arizona and internationally. Its products comprise V-300 simulator, a 300 degree wrap around screen for simulation training; V-180 simulator, a 180-degree screen for smaller spaces and budgets; V-100, a single-screen based simulator system; V-ST, a realistic single screen simulated shooting range simulator; and Top SME Content, a content supplied with its simulators. The company also offers V-Author, a software that allows users to create, edit, and train with content specific to agency objectives; Simulated Recoil, a range of realistic and reliable simulated recoil kits/weapons; and Threat-Fire, a return fire device that applies real-world stress on the trainees during simulation training. It serves law enforcement judgement use-of-force simulation training, military firearms simulation training, and civilian simulation shooting markets. The company sells its simulators and related products through a direct sales force and distribution partners. The company was formerly known as Ferris Productions, Inc. and changed its name to VirTra Systems, Inc. in April 2002. VirTra Systems, Inc. was founded in 1993 and is headquartered in Tempe, Arizona.
VIRTRA SYSTEMS WEBSITE: http://www.virtra.com/
VIRTRA SYSTEMS FACEBOOK: http://www.facebook.com/pages/Virtra-Systems-Inc/100717131887
VIRTRA SYSTEMS TWITTER: http://twitter.com/VirtraSystems
VIRTRA SYSTEMS YOUTUBE: http://www.youtube.com/user/VirtraSystems
Bob Ferris, CEO
VirTra Systems, Inc.
7970 S. Kyrene Rd.
Tempe, AZ 85284
telephone (480) 968-1488 x5014
telecopier (480) 968-1448 fax
bferris@virtra.com
Contract - Websites
https://www.usaspending.gov/#/keyword_search/virtra
https://buyandsell.gc.ca/procurement-data/search/site/virtra
https://www.tenders.gov.au/?event=public.advancedsearch.keyword&keyword=virtra
https://www.defense.gov/News/Contracts/
https://govtribe.com/vendor/virtra-systems-inc-tempe-az
https://www.fbo.gov/index?s=opportunity&mode=list&tab=list
http://www.peostri.army.mil/
ThreatFire Patent:
Click here
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