VirTra, Inc. - VTSI STOCK NEWS

VirTra, Inc. (NASDAQ: VTSI) reported impressive financial results for Q2 and the first half of 2021, marked by a 90% increase in total revenue to $5.3 million and a 99% boost in gross profit to $3.1 million. The company achieved a net income of $529,400 for Q2 and $1.2 million for the first six months. Adjusted EBITDA rose to $1.0 million in Q2. Backlog reached a record $17.0 million, showing a 19% year-over-year growth. Management expressed confidence in future growth driven by rising demand in law enforcement and military training.

VirTra, a global provider of training simulators for various markets, will host a conference call on August 12, 2021, at 4:30 p.m. Eastern Time to discuss its financial results for Q2 2021, which ends on June 30, 2021. A press release detailing these results will precede the call. The management team will present their findings followed by a Q&A session. A live audio webcast will be accessible and a replay will be available through August 26, 2021.

VirTra, Inc. (NASDAQ: VTSI) has received an $800,000 delivery order under a five-year indefinite delivery/indefinite quantity (IDIQ) contract from the U.S. Department of Homeland Security for U.S. Customs and Border Protection (CBP). This order is part of a contract initially awarded in September 2019, potentially generating up to $5.0 million over its duration. VirTra will provide CBP with video-based simulators and custom training content, emphasizing the importance of effective training tools for CBP agents.

VirTra, Inc. (NASDAQ: VTSI) will present at the 2021 LD Micro Invitational XI virtually from June 8-10. Chairman and CEO Bob Ferris is scheduled to speak on June 8 at 2:00 PM Eastern Time (11:00 AM Pacific Time). Interested participants can register for the webcast through the provided link. VirTra specializes in training simulators for law enforcement and military applications, emphasizing judgmental use-of-force and firearms training through advanced virtual reality technology. The company aims to enhance safety and effectiveness in critical training scenarios.

VirTra, Inc. (NASDAQ: VTSI) reported a 33% increase in revenues to $4.4 million for Q1 2021, compared to $3.3 million in Q1 2020. Net income surged to $655,000 from a loss of $389,000, and adjusted EBITDA rose to $751,000 from a loss of $326,000. The backlog reached a record $16.1 million, up 42% year-over-year. Additionally, VirTra successfully completed a registered direct offering, raising $18 million in gross proceeds, enhancing its cash position to approximately $23.7 million as of May 17, 2021. Management expects continued growth in 2021, supported by strong demand.

VirTra, Inc. (NASDAQ: VTSI) announced a conference call to discuss its financial results for Q1 2021, scheduled for May 17, 2021, at 4:30 p.m. ET. This follows the expected release of their financial results prior to the call. Interested parties can join the call via a U.S. dial-in number or an international number. The call aims to provide insight into the company’s performance and will include a Q&A session. A replay will be accessible until May 31, 2021. VirTra focuses on judgmental use of force training simulators and related technologies to enhance safety and training effectiveness.

VirTra, a global provider of training simulators for law enforcement and military, has successfully closed a registered direct offering of 3 million shares at $6.00 each, generating total gross proceeds of $18 million. This offering, conducted on April 5, 2021, aims to fund the company’s strategic roadmap, expand production capacities, and capitalize on high-value opportunities. Roth Capital Partners and Lake Street Capital Markets were involved as placement agents. The shares were offered under a shelf registration, with details available on the SEC's website.

VirTra, Inc. (NASDAQ: VTSI) has entered into a securities purchase agreement to sell 3 million shares at $6.00 each, raising a total of $18 million. This offering, which exceeds the Nasdaq's minimum price rule, is expected to close by April 5, 2021. Roth Capital Partners leads the placement, with proceeds designated for general corporate purposes, including working capital. A prospectus supplement will be filed with the SEC to detail the offering. This step aims to strengthen VirTra's financial position as a provider of training simulators for various markets.

VirTra reported a 15th consecutive year of revenue growth, with total revenue increasing 2% to $19.1 million in 2020, driven by simulator sales and training solutions. The company achieved a net income of $1.5 million, translating to $0.19 per diluted share, reversing a loss from the previous year. Adjusted EBITDA surged by 161% to $2.8 million. Despite pandemic challenges, VirTra's backlog reached a record $14.6 million. The cash position doubled to $6.8 million, affirming financial stability.