Welcome to our dedicated page for VirTra news (Ticker: VTSI), a resource for investors and traders seeking the latest updates and insights on VirTra stock.
VirTra, Inc. (symbol: VTSI) is a leading U.S.-based company that specializes in the development, manufacturing, and sales of advanced training simulators for law enforcement, military, and commercial applications. Renowned for their high-quality products and exceptional customer support, VirTra's simulators aid in judgmental use of force training and firearms training.
VirTra's product line includes sophisticated simulators, upgrade components, and various accessories such as recoil kits and Threat Fire devices. These products are designed to enhance realism and effectiveness in training scenarios, making them highly sought after in global markets.
The company operates with a strong commitment to innovation and sustainability, ensuring profitable growth and increased value for shareholders. VirTra boasts a robust international distribution network, with services that encompass installation, training, warranties, and ongoing support.
Recent developments highlight VirTra’s proactive approach to innovation, including expansion of scenario and character libraries and enhancements to recoil kits. These advancements underscore VirTra's dedication to improving the realism and effectiveness of its training solutions.
Financially, VirTra has demonstrated strong performance. As of the first quarter of 2024, the company reported cash and cash equivalents of $22.4 million. Regular updates and financial summaries are provided to ensure transparency and keep investors informed. VirTra’s management frequently hosts presentations and Q&A sessions to discuss financial results and future prospects, showcasing their commitment to investor relations.
For more information, contact the investor relations team at VTSI@gateway-grp.com or call 949-574-3860.
VirTra (NASDAQ: VTSI) has secured a contract worth nearly $700,000 with the Federal Law Enforcement Training Centers (FLETC) for the maintenance of 59 simulators used for training federal police officers. These simulators, operational in four locations, will be under an annual service plan ensuring up-to-date technology and training scenarios through 2026. This contract highlights the ongoing partnership and the significance of VirTra's innovative training solutions in enhancing law enforcement effectiveness.
On June 10, 2022, VirTra (NASDAQ: VTSI) announced it has been granted an extension by Nasdaq to regain compliance with its listing rules. The company must file its Annual Report on Form 10-K and Form 10-Q by August 12, 2022. This follows previous notices from Nasdaq regarding non-compliance due to late filings. VirTra specializes in training simulators for law enforcement and military applications, aiming to enhance training through advanced technologies.
VirTra, Inc. (NASDAQ: VTSI) received a notice from Nasdaq on May 17, 2022, indicating non-compliance with Listing Rule 5250(c)(1) due to not filing its Form 10-Q for Q1 2022. This notice does not immediately affect its Nasdaq listing. VirTra has 60 days to submit a compliance plan to Nasdaq, with a potential 180-day extension if accepted. Co-CEO Bob Ferris stated that the company is actively working with its auditor to finalize the necessary financial reports to regain compliance.
VirTra, Inc (NASDAQ: VTSI) has appointed John Givens as co-CEO effective immediately. Givens, a board member since November 2020, previously founded Bohemia Interactive Simulations, which was sold to BAE Systems for $200 million. His leadership is expected to enhance operational excellence and business development within VirTra's law enforcement and military training markets. Givens expressed enthusiasm about leveraging the company's world-class products for growth. Following this appointment, the board will reduce to two independent directors with plans to add one soon.
VirTra (NASDAQ: VTSI), a provider of training simulators for law enforcement and military, received a non-compliance notice from Nasdaq on April 5, 2022, due to the late filing of its Form 10-K for 2021. While this notification does not affect stock listing immediately, failure to regain compliance could lead to delisting. VirTra has 60 days to submit a compliance plan to Nasdaq, with a potential 180-day extension if accepted. CEO Bob Ferris cited growth-related challenges and COVID-19 impacts as reasons for the delay, emphasizing a commitment to complete the audit and file the required documentation promptly.
VirTra (NASDAQ: VTSI) reported a record $32.7 million in sales orders for 2021, marking a 37% year-over-year growth. The company highlighted its strong cash position with $19.7 million in cash and equivalents as of December 31, 2021. Recent achievements include a standing offer from the Government of Canada and $2.7 million in follow-on orders from foreign clients. However, an audit delay was disclosed due to the implementation of a new ERP system, impacting the filing of the annual report. Despite these challenges, management remains optimistic about future growth.
VirTra, Inc. (NASDAQ: VTSI) announced it will hold a conference call on March 31, 2022, to discuss preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2021. The company will file a Form 12b-25 requesting a 15-day extension to file its Annual Report on Form 10-K due to delays in completing its independent audit. These delays are attributed to the integration of a new company-wide ERP system. CEO Bob Ferris stated that despite the delays, the company remains in a strong operational position and anticipates strong financial results for 2021.
VirTra (NASDAQ: VTSI), a leader in training simulators for law enforcement and military, will attend the 34th Annual Roth Conference from March 13-15, 2022, at The Ritz Carlton, Laguna Niguel, CA. During the event, CEO Bob Ferris will engage in one-on-one meetings with institutional investors and analysts. The conference will feature various growth sectors including Blockchain, Healthcare, and Technology. For registration details, visit here.
VirTra aims to enhance training through innovative simulator technology.
VirTra, Inc. (NASDAQ: VTSI) has secured its first order under a standing offer from the Government of Canada established in December 2021. This order, from a Canadian law enforcement agency, entails supplying multiple training simulators and accessories within three months. The receipt of this order highlights VirTra's expansion into the Canadian market, which streamlines simulator procurement for law enforcement agencies due to a 2015 omnibus bill. VirTra aims to enhance training capabilities for law enforcement and military personnel in Canada.
VirTra, Inc. (NASDAQ: VTSI), a leading provider of judgmental use of force training simulators, has been invited to the 'Take Aim: Lake Street's Shooting Sports & Public Safety Event' on January 26-27, 2022. The event, hosted by Lake Street Capital Markets, aims to showcase investment opportunities in consumer markets. VirTra's Chairman and CEO, Bob Ferris, will conduct one-on-one and group calls with investors on January 27. The company's mission is to enhance training and safety in law enforcement and military sectors through advanced simulation technology.
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