VirTra Receives Ongoing Service Agreement from The Federal Law Enforcement Training Centers (FLETC)
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.
- Secured a contract worth nearly $700,000 with FLETC for maintenance of 59 simulators.
- The contract extends through 2026, ensuring ongoing revenue.
- Strengthens partnership with FLETC, highlighting the effectiveness of VirTra's training solutions.
- None.
CHANDLER, Ariz., July 18, 2022 (GLOBE NEWSWIRE) -- 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, has received a nearly
FLETC became a VirTra customer in 2019, representing the first customer to receive VirTra’s ultra-high definition 4K simulation systems. VirTra’s systems are located across FLETC facilities in Artesia, NM, Charleston, SC, Cheltenham, MD, and Glynco, GA. The 59 single screen simulators are used to train thousands of Federal Police officers and agents.
“We are proud of our partnership with FLETC and pleased to see their trainers embrace VirTra’s unique approach to effective training,” said Bob Ferris, chairman and co-CEO of VirTra. “We are honored by the thousands of officers from over 60 federal agencies given crucial training with VirTra’s systems. This new agreement reflects the value of our solutions and the success of our ongoing training partnership with FLETC.”
The simulators and their associated hardware and software will be on an annual service plan that ensures up-to-date equipment, judgmental use of force and de-escalation scenarios, and skill drills. This includes updating software to the latest version and features as well as performing maintenance on hardware such as recoil kits and CEW devices. The period of contract performance will extend through 2026.
About VirTra, Inc.
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 FLETC
The Federal Law Enforcement Training Centers (FLETC) provides career-long training to law enforcement professionals to help them fulfill their responsibilities safely and proficiently. Over the past 49 years, FLETC has grown into the Nation’s largest provider of law enforcement training. Under a collaborative training model, FLETC’s federal partner organizations deliver training unique to their missions, while FLETC provides training in areas common to all law enforcement officers, such as firearms, driving, tactics, investigations, and legal training. Learn more at www.fletc.gov.
Forward-Looking Statements
The information in this discussion contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “should,” “could,” “predicts,” “potential,” “continue,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. The forward-looking statements are applicable only as of the date on which they are made, and we do not assume any obligation to update any forward-looking statements. All forward-looking statements in this document are made based on our current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. In evaluating these statements, you should specifically consider various factors, uncertainties and risks that could affect our future results or operations. These factors, uncertainties and risks may cause our actual results to differ materially from any forward-looking statement set forth in the reports we file with or furnish to the Securities and Exchange Commission (the “SEC”). You should carefully consider these risk and uncertainties described and other information contained in the reports we file with or furnish to the SEC before making any investment decision with respect to our securities. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.
Investor Relations Contact:
Matt Glover and Jeff Grampp, CFA
Gateway Group, Inc.
VTSI@gatewayir.com
949-574-3860
FAQ
What is the value of VirTra's contract with FLETC?
How many simulators are covered under the new contract?
What is the duration of the contract with FLETC?
Which locations are involved in the VirTra simulators contract?
What type of training do VirTra simulators provide?
