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Everyone was always saying we need that huge sale for this to take off. Now it's a bad cop killing a guy that appears to be the catalyst to some entity seriously looking to buy us out. Is the VTSI drama about to end?
Ardly: How sweet would that be for a federal mandate for all police to have use-of-force and de-escalation training, something I posted about recently.
fish .. you are supposed to be calling for $2 by end of week since you are the contrarian PPS prognosticator.
in99flyers: okay, for some reason I have this memory of seeing you on another board besides VTSI that I followed, too lazy to look back through your posting history to see what it might have been. GLTY (and us!)
in99flyers: Were you involved with Spongetech chat board many years ago?
fish: You may want to invest in u-haul or Penske or any other truck rental company as the delusional Minneapolis city council appears to be moving ahead with de-funding their police department. Hopefully VirTra gets those military contracts!
fish: so no cops in the streets, all in sims being trained. What IS the Matrix? lol
fish: Translation - you're selling. lol
The best we can hope for right now is some federal legislation mandating that all PDs make some kind of commitment to use-of-force training. Seems there are a lot of un-hinged yahoos out there that think de-funding the police is the solution. After the Castile shooting in 2016 there were city councils elected on the platform of de-funding police. I think Castile's uncle got up in front of them and asked them not to. Minneapolis cut their police budget in 2018. Then people wonder why a guy with numerous complaints against him is out training two guys who were on the job for three or four days.
fish: If Axon was gonna buy now would be the time. If there's some sort of Federal order coming down the pike that extensive use-of-force training be a requirement at all PDs, Axon could suck up VTSI and scale it to a level that could handle orders.
billpr: Everything else? Not sure what you mean.
billpr: Don't think you're right here, billpr. The scenarios are interactive and what happens on the screen is a direct result of what the cop does in relation to the perp (language, body position, etc.). Not sure if you have ever seen this thing in action, I saw a demo at IITSEC a long time ago and I'm assuming it's only improved since then with more scenarios. The goal is to de-escalate to the point where there is no violence, but be prepared if use of force is necessary.
HH: the one who sold out at 4.00
fish: pre-market, the MM "Roth" has shares for sale at $199,999/share. Get you some of that! lol
Ruffie: Had you traded VTSI all these years by taking profits when they were there and then jumping back in when Ferris' obvious complacency caused the PPS to drop you would have a lot more $$$ and be whining a lot less about Ferris. lol He could have been a small cash cow for you if you changed your mindset after observing his MO years ago.
Ruffie: No one ever went broke taking a profit. Seems you like to whine and complain no matter what is going on with VTSI. lol
HH: why would Axon pay $77M for a company with $20M annual revenues and hardly any profit? Unless they thought THEIR sales force could sell at a rate fish thinks these products could be sold.
Analyst rating VTSI a BUY. From one of my broker's:
"Dear Client,
Some investors use analyst ratings to stay informed about their investments. Analysts have changed their ratings for one or more companies in which you hold positions.
The following table displays the affected companies, the current number of analysts by rating category and, in parentheses, the recent change in the number of analysts rating the company within each rating category.
Symbol Buy Outperform Hold Underperform Sell
VTSI 1(+1) 2(0) 0(0) 0(0) 0(0)
Note: Current ratings are from Reuters and may not reflect all rating changes from other sources such as Street Insider and Briefing."
bill: Although civil unrest may be unlikely in short term, I think you'll see crime start to rise with so many people out of work. The G-man can't print enough money to pay them what they need. With a rise in crime, law-abiding citizens will demand more law enforcement. So I still do believe there is a market for the product, whether through sales or through the leasing program. They also are adding new types of training other than shooting perps. Every time I sell a little bit of VTSI near a spike in the PPS I debate whether or not to get out entirely. Kicking myself for not liquidating the last couple of times at $6 and then $5 but hindsight is 20-20. There are some who "hold for the gold" and others like me who usually sell out on a spike, with VTSI I went against my normal trading pattern for penny stocks. A couple I sold out of for 2X profit ran to 10X (even though they were still scams), others crashed and burned to 0.00
billpr: If there's a rise in civil unrest, we'll need more bodies in the sheriff's department and they will need to be trained. The guy that runs the BOCC, and the mayor of Tampa, are clear fear-mongers and they can easily "sell" the purchase of a sim to keep scared sheep happy.
billpr: As long as people pay taxes there will always be money coming in. And it seems the g-man is only willing to print more and more when people need it. Hyper-inflation will become a worry at rate we're going. There's also international sales they seem to be focusing on now.
fish: Don't let that distract you from your "guess" that VTSI employees could still go into office during WuFlu shutdowns. On call Bob said many were working from home. lol Just messin' with ya'
Received this re: VTSI today from one of my brokers.
Dear Client,
Some investors use analyst ratings to stay informed about their investments. Analysts have changed their ratings for one or more companies in which you hold positions.
The following table displays the affected companies, the current number of analysts by rating category and, in parentheses, the recent change in the number of analysts rating the company within each rating category.
Symbol Buy Outperform Hold Underperform Sell
VTSI 0(0) 2(+1) 0(0) 0(0) 0(0)
Note: Current ratings are from Reuters and may not reflect all rating changes from other sources such as Street Insider and
fish: According to Bob ~$1M in revs that were supposed to ship Q1 didn't because of COVID19 and travel restrictions so they would have had ~$4.3M revenues and maybe a profit?
I'm disappointed in results but don't see this as a different company today than it was two days ago. And, of course, that's probably a bad thing.
Under $2.00 now after hours. Who recently called $1.80 as price after earnings? Looking prophetic.
After Hours down to $2.19 on 2.6k shares, bid now an even $2.00
Here's the 10Q on Edgar:
https://www.sec.gov/Archives/edgar/data/1085243/000149315220008371/form8-k.htm
May 12, 2020 04:08 PM ET (BZ Newswire) -- Earnings
VirTra (NASDAQ:VTSI) reported quarterly losses of $(0.050) per share which missed the analyst consensus estimate of $(0.020) by 150 percent. This is a 25 percent decrease over losses of $(0.040) per share from the same period last year. The company reported quarterly sales of $3.300 million which missed the analyst consensus estimate of $4.830 million by 31.68 percent. This is a 8.16 percent increase over sales of $3.051 million the same period last year.
Copyright © 2020 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com).
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
VirTra Reports First Quarter 2020 Financial Results
Sales Momentum Drives 9% Increase in Revenue and $11.3 Million Backlog
TEMPE, Ariz. , May 12, 2020 (GLOBE NEWSWIRE) -- VirTra, Inc. (NASDAQ: VTSI) (" VirTra "), a global provider of training simulators for the law enforcement, military, educational and commercial markets, reported results for the first quarter ended March 31, 2020 . The financial statements are available on VirTra's website and here.
First Quarter 2020 and Recent Highlights:
-- Received $1.6 million IDIQ (indefinite delivery/indefinite quantity)
contract from the Department of State for the Republic of Mexico for
use-of-force simulators and police driving simulators
-- Received $1.1 million order through new distributor in Europe to provide
European law enforcement and military personnel with industry-leading
technology and training methods
-- Released new V-VICTA ( VirTra Virtual Interactive Coursework Training
Academy ) training curriculum to help law enforcement communicate and
interact more effectively and positively with individuals with autism
-- Launched a new website catered to both law enforcement and military to
better market products to prospective customers and increase sales
-- Secured contracts with new customers in Belleview , Orlando , and other
police departments and received maintenance renewal and upgrades with
existing customers, including multiple across Australia
-- Attended 23 events, demos and tradeshows in the first ten weeks of the
year
First Quarter 2020 Financial Highlights:
All figures in millions, except per
share data Q1 2020 Q1 2019 %
Total Revenue $ 3.3 $ 3.1 9%
Gross Profit $ 1.6 $ 1.8 -11%
Gross Margin 47.8% 59.0% -19%
Net Income (Loss) $ (0.4) $ (0.3) 24%
Diluted EPS $(0.05) $(0.04) 25%
Management Commentary
"During the first quarter of 2020, we continued to build upon the momentum generated in the second half of last year, despite impediments that arose at the end of March," said Bob Ferris , Chairman and Chief Executive Officer of VirTra . "Financially, the quarter was highlighted by a 9% increase in revenues to $3.3 million from the first quarter of last year. Operationally, the quarter was highlighted by a $1.1 million order from a new distributor in Europe , which is helping expand VirTra's reputation as the leader in simulation training to more countries abroad. In the last two weeks of March as stay-at-home policies were instituted, some customers requested to delay delivery and installation of orders, which cut into our first quarter results but contributed to our record $ 11.3 million backlog.
"Despite the uncertain COVID-19 macro environment, we have not seen evidence of sales declining or demand weakening as of today. However, out of an abundance of caution, we have taken prudent measures to fortify our balance sheet and ensure we have the necessary resources to continue executing against our strategic initiatives. Properly trained law enforcement and military personnel is integral to the security and well-being of everyone, and we plan to ensure our growing list of customers have access to the best simulation training available throughout 2020 and beyond."
First Quarter 2020 Financial Results
Total revenue increased 9% to $3.3 million from $3.1 million in the first quarter of 2019. The increase in total revenue was due to increases in sales of simulators, accessories, curriculum and training.
Gross profit decreased 11% to $1.6 million (47.8% of total revenue) from $1.8 million (59.0% of total revenue) in the first quarter of 2019. The decrease in gross profit was due to increases in production staff to support larger volumes of sales in the future as well as product mix with varying quantity of systems, accessories and services sold.
Net operating expense decreased 7% to $2.1 million from $2.3 million in the first quarter of 2019. The decrease was mainly due to reduced selling, general and administrative costs for labor, benefits, travel, and professional services expense.
Loss from operations was $512,000 , compared to a loss of $457,000 in the first quarter of 2019.
Net loss totaled $389,000 , or $(0.05) per diluted share, compared to net loss of $313,000 , or $(0.04) per diluted share, in the first quarter of 2019.
Adjusted EBITDA loss was $326,000 , compared to a loss of $278,000 in the first quarter of 2019.
At March 31, 2020 , backlog totaled approximately $11.3 million . At March 31, 2020 , accounts receivable and unbilled revenues totaled approximately $5.2 million compared to $5.9 million at December 31, 2019 , a decrease of $695,000 . Cash and cash equivalents and certificates of deposit totaled $3.8 million at March 31, 2020 .
Subsequent Events
On May 8, 2020 , VirTra received approval for a $1.3 million Paycheck Protection Program (PPP) loan from Wells Fargo Bank under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The loan, which is administered through the Small Business Association (SBA), matures on May 8, 2022 and bears an interest rate of 1% per annum. In accordance with the Paycheck Protection Program, VirTra intends to use the funds for designated expenses, which may include payroll costs, group healthcare benefits, and other permitted expenses. Under the terms of the PPP loan, up to the entire amount of principal and accrued interest may be forgiven to the extent PPP loan proceeds are used for qualifying expenses. VirTra intends to use its entire PPP loan amount for designated qualifying expenses and to apply for forgiveness in accordance with the terms of the PPP loan. No assurance can be given that VirTra will obtain forgiveness of the PPP loan in whole or in part.
Conference Call
VirTra management will hold a conference call today ( May 12, 2020 ) at 4:30 p.m. Eastern time ( 1:30 p.m. Pacific time ) to discuss these results. VirTra's Chairman and CEO, Bob Ferris , and CFO, Judy Henry , will host the call, followed by a question and answer period.
U.S. dial-in number: 844-369-8770
International number: 862-298-0840
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 VirTra's IR team at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of VirTra's website.
A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through May 26, 2020 .
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 34580
About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators, firearms training simulators and driving 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.
About the Presentation of Adjusted EBITDA
Adjusted earnings before interest, income taxes, depreciation and amortization and before other non-operating costs and income ("Adjusted EBITDA") is a non- GAAP financial measure. Adjusted EBITDA also includes non-cash stock option expense and other than temporary impairment loss on investments. Other companies may calculate Adjusted EBITDA differently. VirTra calculates its Adjusted EBITDA to eliminate the impact of certain items it does not consider to be indicative of its performance and its ongoing operations. Adjusted EBITDA is presented herein because management believes the presentation of Adjusted EBITDA provides useful information to VirTra's investors regarding VirTra's financial condition and results of operations and because Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in VirTra's industry, several of which present a form of Adjusted EBITDA when reporting their results. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of VirTra's results as reported under accounting principles generally accepted in the United States of America ("GAAP"). Adjusted EBITDA should not be considered as an alternative for net income, cash flows from operating activities and other consolidated income or cash flows statement data prepared in accordance with GAAP or as a measure of profitability or liquidity. A reconciliation of net income to Adjusted EBITDA is provided in the following table:
Three Months Ended
Increase %
Reconciliation of
net loss to March 31, March 31,
adjusted EBITDA 2020 2019 (Decrease) Change
-----------------
Net Loss $(389,410) $(312,902) $ (76,508) 24%
Adjustments:
Provision for
income
taxes (103,000) (107,000) 4,000 -4%
Depreciation
and
amortization 89,676 71,794 17,882 25%
EBITDA $(402,734) $(348,108) $ (54,626) 16%
Right of use
amortization 72,843 69,989 2,854 4%
Reserve for
note
receivable 3,639 - 3,639 100%
Adjusted EBITDA $(326,252) $(278,119) $ (48,133) 17%
Forward-Looking Statements
(MORE TO FOLLOW) Dow Jones Newswires
05-12-20 1605ET
fish: Close to 5%, buy the rest needed for 5% and file. I dare you! lol
VirTra Sets First Quarter 2020 Earnings Call for Tuesday, May 12, 2020 at 4:30 p.m. ET
TEMPE, Ariz. , April 29, 2020 (GLOBE NEWSWIRE) -- VirTra, Inc.
(NASDAQ: VTSI), a global provider of training simulators for the law enforcement, military, educational, and commercial markets, will hold a conference call on Tuesday, May 12, 2020 at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2020 . Financial results will be issued in a press release prior to the call.
VirTra management will host the conference call, followed by a question and answer period.
Date: Tuesday, May 12, 2020
Time: 4:30 p.m. Eastern time ( 1:30 p.m. Pacific time )
U.S. dial-in number: 844-369-8770
International number: 862-298-0840
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 conference call will be available after 7:30 p.m. Eastern time on the same day through May 26, 2020 .
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 34580
VTSI Institutional Holders, 1Q 2020
The following table shows the largest shareholders in VIRTRA INC COM (VTSI) for the quarter ended March 31, 2020 , listed by holding size. The list represents up to 50 of the largest holders in the company.
Note: Unless otherwise mentioned the reporting date is 03/31/2020
Institution Shares Shares % Last
Held Changed Held Report
Essex Investment Management Co 77,586 2,735 1.002 12/31
Holt Capital Advisors LLC 13,610 0 0.176 12/31
BlackRock Fund Advisors 5,730 5,730 0.074 12/31
FSC Securities Corp. 1,150 0 0.015 12/31
Larson Financial Group LLC 750 0 0.010 03/31
DWS Investment GmbH 600 600 0.008 12/31
BofA Securities Inc. 6 (10) 0.000 12/31
IFP Advisors Inc. 0 (1,500) 0.000 12/31
Tower Research Capital LLC 0 (288) 0.000 12/31
Victory Capital Management In 0 (1,392) 0.000 12/31
Millennium Management LLC 0 (12,311) 0.000 12/31
Morgan Stanley & Co. LLC 0 (2) 0.000 12/31
UBS Securities LLC 0 (1,973) 0.000 12/31
13F data provided by: Factset Research Systems Inc. ;
Please send questions to ownership@factset.com.
Copyright, Factset Research Systems, 2020. All Rights Reserved.
(END) Dow Jones Newswires
fish: d lewis fl ... thought the fl gave it away :D
fish: I'm no doorknob, either. lol Bill lives next town over from me.
Ruffie: I've been saying for years charts are useless on this stock. Just pointing out that fish mentioned a 'hammer' candlestick formation a couple weeks ago. Crickets when the 'shooting star' (bearish) formation appeared. When looking at candlesticks in context, although the formation of the individual SS candle was textbook, a trade-able SS appears after a uptrend, so it would have been more significant right when 2020 started (after the run from 3 to 5). This SS happened in a sideways market after a downtrend. Every close since has been higher than the close of the SS, although the high of the SS may serve as minor resistance if low volume continues.
Ruffie: Probably because fish failed to mention the shooting star candle pattern the other day. He was talking about the (barely) hammer a few weeks ago. The shooting star candle is textbook.
Of course on this low volume, these signals don't really mean anything.
https://www.zerohedge.com/markets/nasdaq-100-surges-back-green-2020-small-caps-down-30
Ruffie: then why was he a "basher" a few years ago? Was he some kind of disgruntled employee that got a promotion and is now pro VirTra?!?!
I haven't kept up with Modern Round, are they still a thing? I assume they are shut down now with COVID-19 - what's the financial impact to VirTra?
fish: As I recall, Twister used to bash this company years ago and then flipped for some reason and became positive on the future. I don't think he's Ferris.
Ruffie: still gonna hold out for $10/share? Or are you back down to $5 or $6?
fish: The 24th was the least strong hammer we could have. The lower shadow (some call it a wick) needs to be at least twice the size of the real body (difference between open and close) for a hammer formation. This one is almost exactly 2X the size (real body 9 cents, lower shadow 19 cents). That being said, the candle on the 25th is in no way confirmation of an up move. The 25th candle is an "inside day", that means INDECISION. It would have been a confirmation signal to have an open on the 25th equal to (or slightly lower than) the 24th with a higher close and little-to-no upper shadow. The only real signal here seems to be sideways price movement. All IMO, obviously.
http://schrts.co/bwSgdpdN