Virtra Inc (VTSI) 銘柄情報

Don't be jealous, I'm a pretty relaxed fisherman these days and certainly not great at it. I do catch some fish simply because I fish quite a bit but as I get older it has become far more about the fishing and not the catching. I do enjoy catching but now I find it relaxing to just fish even if I'm not catching. Walleye fishing was pretty good for me yesterday and earlier today.
When I got back to cell coverage today I quickly checked stocks and didn't realize the market was closed today. Thought my phone and aps weren't working.

VTSI.....I think it starts heading back up in early July after the Russell is behind us. I sorta thought the mideast war might also help the stock.... but is hasn't. Long wait until Q2 report in mid-August.

Jealous I am of your fishing adventures/prowess. Pompano, couldn't ID one if it jumped in my beater bass boat.

Caught redfish, snook, and pompano last week. Walleye will be tomorrow’s focus. I will say…. the quietness emanating from VirTra is SCREAMING LOUD to me, it is telling me to load up. Too many folks are banking on a Russell dip in late June - sorry, not gonna happen. Should be pushing much higher in the next few months.

Summer lull, go catch some bass and bluegill before it gets real hot. I'm gonna try for some cats Fri if wx good.

Vtsi stock is as forgotten as this message board.

More than a couple days headed north, wonder if news brewing

Good to hear your story! Interesting too. Blows my mind the stock is still sitting at $6. No way it ends 2025 below $10. I really liked the big volume after the Q1 report as it suggests VTSI is on the radar of many.

It’s great that Judges and Mayors have been arrested…but when will be see an arrest for the MILLIONS that have been murdered by the ‘Covid Vaccine’? pic.twitter.com/mit7nXlgFI— Liz Churchill (@liz_churchill10) May 9, 2025 $VTSI

I work for USAF on a relatively small weapon system. We switched our main developer to a small software based company smart in radio waveform development under a govt research lab separate from standard procurement process. The results were/are incredible, the geeks at the company crank out updates w fixes in days vice months. In 15 months, we are way ahead of schedule and fixing issues at an unheard pace. I have sense Anduril is similar, they are what MSoft was 30 yrs ago. I'll wager 12 pack it'll jump start IVAS and we'll profit. I'm overweight in Virtra now but will add on based on this developer change.

Since I am not from Iowa your post cornfuses me. I bought more shares yesterday, the most I paid was $6.36. I also bought even more shares today, the most I paid was $5.90. I plan to get back to owning a couple percent of this company.

So what you're telling us fish is you were selling those shares you obtained sub .04 for over .06. 😁

Bought more today as high as $6.36.

Agreed. However, lots of new eyes and money pouring in today. We can get over $17 in no time. Future quarter comps should be easy to overcome since last year's numbers were so weak. This feels like a great buy again. Gonna be kicking ourselves for not buying even more in the 3s and 4s!

When it gets back to $17 then congratulations are in order lol. Nice to see the move but far from where we were\should be.

Dang!!! If yesterdays after hours was great, then the opening this morning is excellent. Trading halted to the upside right now. Congrats to you long time holders.

That was actually something Givens mentioned a few times during the tour, namely MSFT's lack of familiarity with working with defense related government agencies. Moreover he said, part of what Virtra people were doing was helping MSFT with those interactions and dealing with the processes of working with defense related agencies.

Anyway, in the Anduril articles I shared, it's noted that they're not doing any of the hardware, just stuff related to software. It's too bad you couldn't make the tour, because you'd see how much space Virtra has set-up for scaling right into production for the IVAS related hardware from the prototypes and testing. So, if and when a large production order comes in, Virtra will have the wherewithal to efficiently fulfill it.

Great comments and perspective. Microsoft as a defense contractor always struck me as weird… sort like hiring a great writer of fiction to author a college calculus textbook. Anduril is a real big time defense contractor so there is hope.

Interesting that Anduril is a private company whose investors include JD Vance. Anduril's original funding came from Peter Thiel's Founders Fund. Thiel was Vance's largest backer. So, one program that won't be cut by the current administration is the IVAS program.

On the prior CC around the 7 min mark, it was interesting that it was noted that IVAS finished 42 days early for finalized testing, and that this cancelled remaining assessments. Then in this CC, it was noted the the IVAS contract was novated from Microsoft to Anduril Industries. Honestly, I didn't know what novated means. So, basically Microsoft's contract for IVAS was replaced with a new contract for Anduril. This change was noted in these two relatively recent articles:

https://breakingdefense.com/2025/04/anduril-gets-green-light-from-army-to-take-over-microsofts-ivas-project-exec/
https://breakingdefense.com/2025/02/microsoft-announces-plan-to-slide-22-billion-ivas-contract-over-to-anduril/

Anyway, both CC's seem to be pointing for production, sooner than later, of VTSI's contribution to this program, it's recoil hardware. During the tour last year a lot of floor area was dedicated to testing and production of the prototype units, with even more floor area for expansion. So, when this actually goes into production, this will be a pretty huge ordeal.

The thing too, is that the hardware is integral with the entire system or it can be used stand alone. In both scenarios it provides the huge benefit of saving all the munition costs that are also often in short supply.

That is a good summary. I really liked the content of today's PR with respect to the sales/marketing aggressiveness and concrete actions. Should be an easy run to about $8 or $9 ahead of the Q2 report. I suspect it finally goes up and over $20 by end of 2025.

Good summary:https://www.ainvest.com/news/virtra-q1-earnings-beat-signals-rare-momentum-opportunity-defense-tech-2505/

VirTra Reports First Quarter 2025 Financial Results
Net Income Rises to $1.3 Million
Bookings Up 120% Year Over Year to $6.4 Million
CHANDLER, Ariz. , May 12, 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 first quarter ended March 31, 2025 . The financial statements are available on VirTra's website and here.
First Quarter 2025 and Recent Operational Highlights:
-- First quarter bookings totaled $6.4 million , a strong increase from $2.9
million in Q1 2024 and contributing to $33.4 million in bookings over the
last twelve months, reflecting continued traction despite persistent
federal funding uncertainty, including delayed disbursements and
continuing resolutions.

-- Backlog totaled $21.2 million as of March 31, 2025 , including $9.9
million in Capital, $5.8 million in Service, and $5.5 million in STEP
contracts.

-- V-XR(R) product momentum increased, with two units sold to date and
growing interest reflected in active quotes and customer engagement.

-- Reentered the GSA procurement program with bundled offerings to
streamline purchases and reduce sales cycle friction across federal and
municipal buyers.

-- Advanced development work under the U.S. Army's IVAS program, including
expanded recoil kit validation and reliability testing in preparation for
a potential production phase.

-- Maintained robust working capital at $35.3 million , positioning the
Company for sustained growth and operational agility.
First Quarter 2025 Financial Highlights:
For the Three Months Ended
--------------------------------------
All figures in millions, except March 31, March 31,
per share data 2025 2024 %
-------------------------------- -------------- --------- -----------
Total Revenue $7.2 $7.3 -3%

Gross Profit $5.2 $4.7 10%
Gross Margin 72.6% 64.2% N/A

Net Income (Loss) $1.3 $0.5 N/A
Diluted EPS $0.11 $0.04 N/A
Adjusted EBITDA $1.7 $1.2 N/A



*The March 31, 2024 column reflects restated financials.
Management Commentary
VirTra CEO John Givens stated, "We started 2025 with improved operational execution and a solid backlog foundation, though bookings moderated quarter-over-quarter due to delays in federal budget disbursements, standard seasonality, and a more cautious demand environment across the law enforcement and defense sectors. These dynamics have reinforced the importance of programs like STEP, which provide affordable, recurring access to immersive training systems even when procurement cycles slow down. Our development efforts related to the U.S. Army's IVAS program also advanced during the quarter, including expanded recoil kit validation and reliability testing, which are key steps as we prepare for a potential transition into the production phase. Alongside this, demand for our V-XR platform continues to build, with the first delivery expected in Q2 and additional units already in process.
"With more focused sales and marketing functions, we're engaging priority agencies more directly and improving conversion across channels. As part of this effort, we reentered the General Services Administration (GSA) procurement program in Q1 with standardized product bundles, enabling eligible agencies to purchase directly from a federal catalog and reducing friction in the purchasing process. VirTra is positioned to convert opportunity into growth in the quarters ahead. Our focus remains on disciplined execution and aligning closely with the evolving training needs of our customers."
First Quarter 2025 Financial Results
Note: Q1 2024 financials presented below reflect a restatement made in Q4 2024 to adjust the timing of revenue recognition associated with a 2021 international sale.
Total revenue for the first quarter was $7.2 million , compared to $7.3 million in the prior year period. The 3% decrease was primarily driven by delayed deliveries on several customer orders booked in Q4 2024, which pushed revenue recognition into future quarters.
Gross profit for the first quarter improved to $5.2 million (73% of total revenue), compared to $4.7 million (64% of total revenue) in the prior year period. The increase in gross margin reflects a 25% decrease in cost of sales, highlighting the Company's operational efficiency gains and more favorable product mix.
Net operating expense for the first quarter was $3.8 million , a 6% decrease from $4.1 million in the prior year period. This decrease reflects ongoing cost discipline and optimization of internal resources while maintaining core growth initiatives.
Operating income for the first quarter more than doubled to $1.4 million , compared to $0.7 million in the prior year period.
Net income for the first quarter increased to $1.3 million , or $0.11 per diluted share (based on 11.3 million weighted average diluted shares outstanding), up from a restated $0.5 million , or $0.04 per diluted share (based on 11.0 million weighted average diluted shares outstanding), in the first quarter of 2024.
Adjusted EBITDA, a non-GAAP metric, increased 22% to $1.7 million , up from $1.4 million in the first quarter of 2024.
Cash and cash equivalents were $17.6 million at March 31, 2025 , compared to $18.0 million at December 31, 2024 . Working capital grew to $35.3 million , and the Company maintained a debt-light balance sheet, positioning it well for near- and long-term execution.
Financial Commentary
CFO Alanna Boudreau stated, "Our Q1 results reflect a steady shift in the right direction, with strong gross margins, disciplined cost management, and increased clarity on backlog conversion into future revenue. This greater visibility is supported by improved forecasting around STEP and capital orders, stronger contract structures, and more predictable customer delivery timelines. One key recent development was the enhancement of our STEP agreements, which now include full three-year commitments, converting what was previously uncertain renewal potential into reliable, recurring revenue, with renewal rates expected to continue around 95%.
"The steps we've taken over the past several quarters to improve execution and efficiency continue to gain traction and support our bottom-line results. With $17.6 million in cash and over $35 million in working capital, we remain well- positioned to pursue growth while navigating the timing uncertainties of government funding cycles. As new sales channels activate and V-XR adoption builds, we believe the Company is positioned for sustained top-line improvements throughout 2025."
Conference Call
VirTra's management will hold a conference call today ( May 12, 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: 13753538
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 May 26, 2025 .
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13753538
About VirTra, Inc.
VirTra (Nasdaq: VTSI) is a global provider of judgmental use of force training simulators, 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.
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
(MORE TO FOLLOW) Dow Jones Newswires
05-12-25 1605ET

Nice Q! Good bookings, 1.3 mill net!!!

Perfect storm! With the market on fire, any sort of best earnings today could send us higher! Lets finally get a positive quarter it's been a few years lol

There is not a snowballs chance in hellll that VirTra will not exceed the $5.5mil revenue consensus of the analysts. My guess is $8.2mil, slightly above the year ago number. That said, my guess is the order intake during Q1 was stinky low based on how Givens melted down near the end of the last cc when he got the question. In any event, VTSI should be back to the $7s in a couple weeks.

Maybe not. Would be cool to get those results again.

Horrible typo in the PR......ending 31 March 2024...

And just like that the $3.x shares are now gone….til Monday?…or forever?

Lots of entertainment value along the way! Gotta do some trading along the journey. Now is buy time, perhaps the best buy time ever in the history of the company…. really.

Is this company still alive? When is the last time they even PRed a sale? This is worse than I could have imagined. 14 years here of time wasted

Everybody has had their chance!

The gift-horse returns...
And the examination continues.


$3.72

Threw another 5k shares on the pile yesterday, best was $3.59….that was sub-18cents in the old days!

Vtsi also has a lot of cash. The valuation today is ridiculous. trading at less than 2x cash. We need some positive news

Since my first buy of VTSI in about 2009, this is the cheapest the stock has ever been relative to the metrics I care about.

Today the stock touched an enterprise value of $30million. Today is the first time in the last 16 years that the EV fell below likely current year revenue!

If the company was bleeding cash or losing tons of money or had gross margins below 30% then todays valuation would make some sense. But for those of us following closely we know VirTra is now a real company and not just a nice hobby. We know the CEO is better than competent. We know the need for LE training has never been greater. We know the backlog is significant. It blows my mind that so many were willing to buy the stock at $16+ yet are afraid to touch it now.

I made 5x on it once, then about 3x, and now I’m mostly back in and fully expect another 3x to 4x gain from my $5.x (and falling) avg. It is the gift that keeps on giving.

I believe they will look a lot like a donut, which is about what I can buy with my position right now.

This is ridiculous. Company and insiders need to support the stock. Interested to see what BlackRock and Vanguard positions look like in May.

I treid a few years back but got "shot down". even worse will be coming when we get thrown off the Russel 2000.

A serious post for once…..Several of you old timers still lurking here own a lot of shares. Each of you should take your share count up and over 560,000 and file as a 5% owner with the SEC. Then join forces and demand a BOD seat. And not the fake keep you in your lane Advisory board. In fact those of you on that Advisory board should formally resign from it. It is being used to control your accumulation of shares and keep you at bay.

Yes, history repeats. But maybe this time we are all smarter.

It’s only one year away!
Same as 4 years ago.
Same as 3 years ago.
Same as 2 years ago.

Too bad Ferris didn’t stick around. At least we would have LE sales. I trust by now Givens has learned his lesson.

I did buy a lot of shares yesterday, $4.00 avg. Same as 20 cents a decade ago.

So no recoil kits for the Army before 2026?😖

From over 1 year ago:
Phase two of IVAS 1.2’s development will consist of four sets of deliverables — the first of which was delivered in January and included 10 prototypes that participated in another user assessment at Picatinny Arsenal in New Jersey — and will culminate with a company-level operational test in spring 2025, Dresch said.
“Pending a successful test,” the program office will go back to the Army with feedback, which will then inform a full-rate production decision, he added. The full-rate production decision is expected by fourth quarter of fiscal year 2025, according to the Director, Operational Test and Evaluation’s 2023 report on the program.


And from other sources similarly dated, Q2'26 was likely the earliest those v1.2 headsets were going to be delivered. So recoil kits selling pre-2026 hasn't been on the bingo card for a long time.

I understand your Venice/Englewood comment and agree with it to some extent. In some ways it captures exactly why we love that area. It still has some grit. People live there and work there. People are out and about and fn around. I run across normal working people every day, I enjoy those interactions. Makes me feel alive I suppose. Sure, the neighborhoods are not as pretty but there is charm in that as well.

Probably also explains why I own VirTra and not Axon. I’m doomed, it’s wired in!

Agility amongst volatility golden, American devastation unconscionable!

Government disarray and delays continue to inhibit growth expectations.
High P/E without growth supports haircuts while treading water.
Good news is their ample cash reserve, to buy time.
Bad news being all the madness continues.
Half the country is sleepily content.
Checkers would be upgrade!
Nothing like it ever seen.
Best wishes billpr

OT: Appreciate your post. You and I have a pretty long history and I think, except for a few rare occasions, you have always been my favorite guy here. You, Twister, TeeRoy, and a couple of others that I can't remember at the moment, have helped me to have some fun too. I hope you and the others make some more money off Virtra, but it will never be anything more than a 30-40M company. If memory serves me correctly, that might be at least a dozen times I've posted that.
At your age I agree it might be time to move to a more livable climate, but frankly I would suggest either go further south (naples area, or further north, hernando county area. I know you like the Venice, Englewood area, but actually It's sort of crummy and you can afford better. Take care..
BTW do you think Twister has left? He was a great poster...

IVAS rebranded Soldier Borne Mission Command (SBMC)

Rinse and repeat:

18 April 2025 – Opportunity posted on SAM.gov
12 May 2025 – Vendors submit white papers
27 - 30 May 2025 – Vendor sample hardware demonstrations and oral presentations
16 June 2025 – Request for Prototype Proposals released
7 July 2025 – Vendors submit RPP technical and cost proposals
8 July - 15 August 2025 – Alpha Negotiations
29 August 2025 – OTA award(s)

So no recoil kits for the Army before 2026?😖

By now you know I like to kid, tease, and have fun with these posts. I’m happy you have a sense of humor. You’ve seen it all by this point in your life. I really do hope there is some method to the seeming madness and approach to tariffs …. but I do wonder.

The stock market volatility in my view is due to a near 100% absence of humans running mutual funds and ETFs. The AI computers have taken over and their only mission is profits over about a 1 hour timeframe. Zero long term thinking, zero care.

No, my TDS is terminal, but you sure missed your true vocation. If you ever decide to get a new alias for IHUB,
I suggest G.O.A.T.SPINNER "Man of the people" OMG...

It’s ok Bill. Your TDS is treatable with a little booze and weed. Trump did the smart thing today, at least be happy about that.
And the best part is that he tells us all in advance! Earlier today he said to buy stocks, so I did. Many LNC shares. A month or so ago he said to the market would be rough due to tariffs so lighten up.
When have we ever had a POTUS that told us exactly how and when to invest! It’s awesome, He is a true man of the people. 8 more years!

OT: Apparantly the sledghammer has turned into a tweezer!
"panicons"
"stay tough"
I told my wife a month ago that this would be over in a month. I was wrong, it only took 3 weeks. The end result is a complete disaster. The whole world is laughing a us. Our steel resolve to lead has made us look like wet noodles. China will probably move on Taiwan and we will do nothing. This mess is equivalant to a shank. FORE!!! Unfortunalely I don't think you can be impeached for stupidity.

Zero worries about my tenants, tenants always pay, they have no choice. But to your point, the economy is strong. Jobs are plentiful. And the Wisconsin economy is always stable, it never booms, never busts, strong families. If some of my young tenants run into trouble, Mommy or Daddy pay.
It’s funny, since I started trying to find investment properties in FL my conclusion is that the worst multifamily investment in Wisconsin is better than the best multifamily investment in FL. Not because of the people but because properties cost 2x as much and rent is about the same.

OT: Fish,
Without going into the "chainsaw or scalpel" stuff. What are you going to do in 3 months when your renters don't pay their rent because they lost their jobs. If DT is right my question is mute, if the economy goes south, what then? Other than the people he brought in because of loyalty not expertise, EVERY economist, even Kudlow, thinks this is crazy.
In addition, prices only come down because demand decreases. That is the only way to lower prices. Lower energy prices have -0- to do with prices of goods at the grocery store. Big Oil and Big Pharma will never allow their profits to decrease even if they are swimming in oil. I buy Entresto (heart drug) from Canada for $300 (90day supply). Here the same thingfor $1800. That's where you start with another chainsaw. A dying tree has many branches, you cut off the bad ones to keep the tree alive. You don't just cut down the whole tree from the git-go.