VirTra Receives Orders from Two Foreign Countries Totaling $2.7 Million

Rhea-AI Summary

VirTra, Inc. (NASDAQ: VTSI) has secured two foreign orders totaling $2.7 million for judgmental use of force training simulators and related training tools. The orders consist of $1.6 million and $1.1 million for various simulators, software, and training measures. Delivery is expected in early 2022 and spring 2022. These contracts enhance VirTra’s position in the law enforcement and military training markets, reflecting the company’s growing international presence and commitment to improving safety through effective training solutions.

Positive

• Secured two foreign orders worth $2.7 million.
• Orders include multiple advanced simulators and training tools.
• Further enhances VirTra's presence in international law enforcement and military markets.

Negative

• None.

TEMPE, Ariz., Jan. 10, 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 two foreign country orders totaling $2.7 million: one for $1.6 million and another for $1.1 million. Both orders are for simulators, software, content and associated training tools.

Both purchase orders include the delivery of multiple simulators (V-300®, V-ST PRO®, V-300® 4K and dual-screen V-ST® PRO 4K), Threat-Fire® real-world consequence devices, drop-in weapon recoil kits, and other integrated tools designed for enhanced realism needed for effective training. The orders include installation and training courses to facilitate the operation of each simulator and its accessories.

“These follow-on orders in each country substantiate our training efficacy and functionality. VirTra is honored to set the standard of training for law enforcement and military in these foreign countries,” said Jason Mulcahy, General Manager of VirTra. “We hope that by providing valuable training tools, more communities around the world can become safer for both officers and citizens alike.”

The first order is planned to be delivered in early 2022 and the second order is expected to be delivered in spring 2022. Neither of these orders are related to the recent standing offer awarded to VirTra by the government of Canada.

About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators and 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.

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 recent orders did VirTra (VTSI) secure?

VirTra secured two foreign orders totaling $2.7 million.

What is the value of the orders received by VTSI?

The total value of the orders is $2.7 million, with one order at $1.6 million and another at $1.1 million.

When will VirTra deliver the new simulators?

The first order is scheduled for delivery in early 2022, and the second order is expected in spring 2022.

What products are included in the VirTra orders?

The orders include various simulators like V-300® and V-ST PRO®, along with software and training tools.

How do these orders impact VirTra's market position?

These orders enhance VirTra's position in the international law enforcement and military training market.