VirTra Reports Fourth Quarter and Full Year 2024 Financial Results
VirTra reported Q4 and full year 2024 results, with Q4 bookings growing 37% sequentially to $12.2 million and year-end backlog expanding to $22.0 million. Q4 revenue was $5.4 million, down from $10.9 million in the prior year, while full-year 2024 revenue reached $26.4 million compared to $38.8 million in 2023.
The company maintained robust working capital of $34.8 million and secured new contracts in Europe and Latin America. Q4 net loss was $(0.9) million or $(0.08) per share, compared to net income of $3.5 million or $0.32 per share in Q4 2023. Full-year 2024 net income was $1.4 million or $0.12 per share.
Notable achievements include completing the U.S. Army's IVAS development phase 42 days ahead of schedule and securing the first V-XR® training platform sale in Canada. The company faced challenges from federal funding delays but showed resilience through growing bookings and international expansion.
VirTra ha riportato i risultati del quarto trimestre e dell'intero anno 2024, con le prenotazioni del Q4 che sono cresciute del 37% rispetto al trimestre precedente, raggiungendo i 12,2 milioni di dollari, e il backlog di fine anno che si è espanso a 22,0 milioni di dollari. Le entrate del Q4 sono state di 5,4 milioni di dollari, in calo rispetto ai 10,9 milioni di dollari dell'anno precedente, mentre le entrate dell'intero anno 2024 hanno raggiunto i 26,4 milioni di dollari rispetto ai 38,8 milioni di dollari del 2023.
L'azienda ha mantenuto un solido capitale circolante di 34,8 milioni di dollari e ha ottenuto nuovi contratti in Europa e America Latina. La perdita netta del Q4 è stata di $(0,9) milioni, ovvero $(0,08) per azione, rispetto a un utile netto di 3,5 milioni di dollari, o $0,32 per azione, nel Q4 2023. L'utile netto dell'intero anno 2024 è stato di 1,4 milioni di dollari, o $0,12 per azione.
Tra i risultati notevoli si annovera il completamento della fase di sviluppo IVAS dell'Esercito degli Stati Uniti con 42 giorni di anticipo rispetto al programma e la vendita della prima piattaforma di addestramento V-XR® in Canada. L'azienda ha affrontato sfide dovute ai ritardi nei finanziamenti federali, ma ha dimostrato resilienza attraverso l'aumento delle prenotazioni e l'espansione internazionale.
VirTra reportó los resultados del cuarto trimestre y del año completo 2024, con reservas del Q4 creciendo un 37% secuencialmente hasta $12.2 millones y un backlog de fin de año que se expandió a $22.0 millones. Los ingresos del Q4 fueron de $5.4 millones, una disminución respecto a los $10.9 millones del año anterior, mientras que los ingresos del año completo 2024 alcanzaron los $26.4 millones en comparación con los $38.8 millones en 2023.
La compañía mantuvo un sólido capital de trabajo de $34.8 millones y aseguró nuevos contratos en Europa y América Latina. La pérdida neta del Q4 fue de $(0.9) millones o $(0.08) por acción, en comparación con una ganancia neta de $3.5 millones o $0.32 por acción en el Q4 de 2023. La ganancia neta del año completo 2024 fue de $1.4 millones o $0.12 por acción.
Logros notables incluyen completar la fase de desarrollo IVAS del Ejército de EE. UU. 42 días antes de lo previsto y asegurar la primera venta de la plataforma de entrenamiento V-XR® en Canadá. La compañía enfrentó desafíos debido a retrasos en la financiación federal, pero mostró resiliencia a través del aumento de reservas y la expansión internacional.
VirTra는 2024년 4분기 및 연간 실적을 보고하였으며, 4분기 예약이 이전 분기 대비 37% 증가하여 1,220만 달러에 달했고 연말 백로그는 2,200만 달러로 확대되었습니다. 4분기 수익은 540만 달러로, 전년의 1,090만 달러에서 감소했으며, 2024년 전체 연간 수익은 2,640만 달러로 2023년의 3,880만 달러와 비교되었습니다.
회사는 3,480만 달러의 견고한 운영 자본을 유지하고 유럽 및 라틴 아메리카에서 새로운 계약을 확보했습니다. 4분기 순손실은 $(90만) 또는 주당 $(0.08)로, 2023년 4분기의 순이익 350만 달러 또는 주당 $0.32와 비교되었습니다. 2024년 전체 연간 순이익은 140만 달러 또는 주당 $0.12였습니다.
주목할 만한 성과로는 미국 육군의 IVAS 개발 단계를 예정보다 42일 빠르게 완료하고 캐나다에서 첫 번째 V-XR® 훈련 플랫폼 판매를 확보한 것이 있습니다. 회사는 연방 자금 지원 지연으로 어려움을 겪었지만 예약 증가와 국제적 확장을 통해 회복력을 보여주었습니다.
VirTra a rapporté les résultats du quatrième trimestre et de l'année entière 2024, avec des réservations du Q4 augmentant de 37 % par rapport au trimestre précédent pour atteindre 12,2 millions de dollars, et un carnet de commandes en fin d'année s'élevant à 22,0 millions de dollars. Le chiffre d'affaires du Q4 s'élevait à 5,4 millions de dollars, en baisse par rapport aux 10,9 millions de dollars de l'année précédente, tandis que le chiffre d'affaires annuel 2024 a atteint 26,4 millions de dollars contre 38,8 millions de dollars en 2023.
L'entreprise a maintenu un solide fonds de roulement de 34,8 millions de dollars et a sécurisé de nouveaux contrats en Europe et en Amérique latine. La perte nette du Q4 était de $(0,9) millions ou $(0,08) par action, comparativement à un bénéfice net de 3,5 millions de dollars ou 0,32 dollar par action au Q4 2023. Le bénéfice net pour l'année entière 2024 était de 1,4 million de dollars ou 0,12 dollar par action.
Les réalisations notables incluent l'achèvement de la phase de développement IVAS de l'armée américaine 42 jours avant la date prévue et la sécurisation de la première vente de la plateforme d'entraînement V-XR® au Canada. L'entreprise a fait face à des défis dus aux retards de financement fédéral, mais a montré sa résilience grâce à l'augmentation des réservations et à l'expansion internationale.
VirTra berichtete über die Ergebnisse des vierten Quartals und des gesamten Jahres 2024, wobei die Buchungen im Q4 um 37 % im Vergleich zum Vorquartal auf 12,2 Millionen Dollar wuchsen und der Auftragsbestand zum Jahresende auf 22,0 Millionen Dollar anstieg. Der Umsatz im Q4 betrug 5,4 Millionen Dollar, ein Rückgang gegenüber 10,9 Millionen Dollar im Vorjahr, während der Gesamtumsatz für 2024 26,4 Millionen Dollar erreichte, verglichen mit 38,8 Millionen Dollar im Jahr 2023.
Das Unternehmen hielt ein robustes Betriebskapital von 34,8 Millionen Dollar und sicherte sich neue Verträge in Europa und Lateinamerika. Der Nettoverlust im Q4 betrug $(0,9) Millionen oder $(0,08) pro Aktie, im Vergleich zu einem Nettogewinn von 3,5 Millionen Dollar oder 0,32 Dollar pro Aktie im Q4 2023. Der Nettogewinn für das gesamte Jahr 2024 betrug 1,4 Millionen Dollar oder 0,12 Dollar pro Aktie.
Zu den bemerkenswerten Leistungen gehört der Abschluss der Entwicklungsphase IVAS der US-Armee 42 Tage vor dem Zeitplan sowie der Verkauf der ersten V-XR®-Trainingsplattform in Kanada. Das Unternehmen sah sich Herausforderungen durch Verzögerungen bei der Bundesfinanzierung gegenüber, zeigte jedoch Resilienz durch steigende Buchungen und internationale Expansion.
- Q4 bookings increased 37% sequentially to $12.2 million
- Backlog grew to $22.0 million, indicating strong future revenue potential
- Maintained strong working capital position of $34.8 million
- Improved full-year gross margin to 74% from 71% in 2023
- Successfully expanded international presence with new contracts in Europe and Latin America
- Completed IVAS development phase 42 days ahead of schedule
- Q4 revenue decreased to $5.4 million from $10.9 million year-over-year
- Full-year revenue declined to $26.4 million from $38.8 million in 2023
- Q4 net loss of $(0.9) million compared to $3.5 million profit in Q4 2023
- Full-year net income decreased to $1.4 million from $9.2 million in 2023
- Operating expenses increased 13% in Q4 year-over-year
Insights
VirTra's Q4 results present a challenging financial picture with revenue declining to $5.4 million from $10.9 million year-over-year, resulting in a quarterly net loss of
While headline financials show significant deterioration, several forward-looking indicators signal potential stabilization. Q4 bookings grew
The revenue decline stems primarily from external factors - specifically federal budget delays and grant disbursement pauses affecting contract execution. Many Q4 orders came late in the quarter, preventing revenue recognition before year-end. Notably, gross margin improved to
International expansion efforts are showing traction with new contracts in Europe and Latin America, plus the first V-XR platform sale in Canada. The military business also shows promise with the company completing its IVAS development phase ahead of schedule.
The growing backlog and sequential improvement in bookings provide some optimism, but investors should monitor whether federal funding challenges persist through 2025.
Fourth Quarter Bookings Grow
Year-End Backlog Expands to
CHANDLER, Ariz., March 27, 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 fourth quarter and full year ended December 31, 2024. The financial statements are available on VirTra’s website and here.
Fourth Quarter 2024 and Recent Operational Highlights:
- Fourth quarter bookings totaled
$12.2 million , a37% increase from Q3 2024, with a significant portion recorded in December, positioning VirTra for revenue conversion in early 2025. - Backlog grew to
$22.0 million as of December 31, 2024, reflecting continued sales momentum despite federal funding delays. - Secured contracts with government and law enforcement agencies in Europe and Latin America, reinforcing VirTra’s expansion in international government and security training programs.
- Secured first sale of the V-XR® training platform in Canada, marking early adoption of the Company’s extended reality training technology.
- Maintained robust working capital at
$34.8 million , positioning the Company for sustained growth and operational agility.
| Fourth Quarter and Full Year 2024 Financial Highlights: | |||||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||||
| All figures in millions, except per share data | December 31, 2024 | December 31, 2023 | % Δ | December 31, 2024 | December 31, 2023* | % Δ | |||||||||||
| Total Revenue | $5.4 | - | $26.4 | - | |||||||||||||
| Gross Profit | $3.7 | - | $19.4 | - | |||||||||||||
| Gross Margin | 68.5% | N/A | 73.7% | N/A | |||||||||||||
| Net Income (Loss) | ($0.9) | N/A | $1.4 | N/A | |||||||||||||
| Diluted EPS | ($0.08) | N/A | $0.12 | N/A | |||||||||||||
| Adjusted EBITDA+ | ($1.8) | N/A | $2.9 | N/A | |||||||||||||
*The December 31, 2023 full-year column reflects restated financials.
+The adjusted EBITDA calculation for the three months ended December 31, 2024 gives effect to a negative
Management Commentary
VirTra CEO John Givens stated, “We closed out 2024 with strong bookings momentum and an expanding backlog despite persistent challenges in the federal funding environment. Bookings increased sequentially each quarter in 2024, demonstrating our ability to navigate the constraints of the federal government’s Continuing Resolution and the resulting delays in contract execution. While we remain encouraged by our growing backlog and international traction, the broader funding environment remains fluid, and we are actively working with policymakers to ensure law enforcement agencies can access critical training resources. Over the past several months, we have met with dozens of legislators, officials at the Department of Justice, and leadership in federal grant offices to advocate for clearer funding structures that prioritize modern training systems. As a trusted partner for Customs and Border Protection (CBP), the Secret Service, and the Federal Law Enforcement Training Center (FLETC), we remain focused on expanding our role in federal law enforcement training initiatives.
“We are also advancing our military initiatives, with key milestones in the U.S. Army’s Integrated Visual Augmentation System (IVAS) program. Our final IVAS development phase was completed 42 days ahead of schedule, leading the Army to finalize testing early and forgo previously planned soldier assessments due to our system’s outstanding performance. The transition of IVAS to Anduril, one of the most capable defense technology firms with a well-established track record in Department of Defense contracting, is a significant positive development. We are actively conducting reliability testing on recoil kits as part of the final prototyping phase and remain confident in our continued involvement, strategically positioning us to effectively support future production-stage opportunities.
“While our sales pipeline has improved, we recognize that there is still work to be done to reach full efficiency. We are laser-focused on accelerating sales growth through a disciplined, strategic approach. This includes expanding and refining our sales organization, improving conversion efficiency, and deepening engagement across our core federal and military customer base. Additionally, we are leveraging AI to drastically reduce video editing time from days to minutes, accelerating high-quality content creation. Training content remains a key differentiator for VirTra, and our ability to rapidly expand and enhance our scenario library strengthens our position as the industry leader in immersive training.
“Looking ahead, we anticipate continued variability in federal funding cycles in the near term, but the long-term need for de-escalation and tactical training continues to expand. The steps we’ve taken to improve operational efficiency, deepen engagement with key federal agencies, and expand our content and scenario development capabilities provide a solid foundation as we navigate 2025.”
Fourth Quarter and Full Year 2024 Financial Results
Total revenue for the fourth quarter was
For the full year 2024, total revenue was
Gross profit for the fourth quarter was
For the full year 2024, gross profit totaled
Net operating expense for the fourth quarter was
For the full year 2024, net operating expense was
Operating (loss) income for the fourth quarter was
For the full year 2024, operating income was
Net (loss) income for the fourth quarter was
For the full year 2024, net income was
Adjusted EBITDA, a non-GAAP metric, was (
For the full year 2024, adjusted EBITDA, a non-GAAP metric, was
Cash and cash equivalents were
Financial Commentary
CFO Alanna Boudreau stated, “We saw strong momentum in Q4 bookings, with many orders coming late in the quarter. While the timing limited revenue recognition in the period, it contributed to a growing
Conference Call
VirTra’s management will hold a conference call today (March 27, 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: 13751824
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 April 10, 2025.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13751824
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 accepted in the United States of America (“GAAP”). Adjusted EBITDA should not be considered as an alternative for net income, cash flows from operating activities and other consolidated income or cash flows statement data prepared in accordance with GAAP or as a measure of profitability or liquidity. A reconciliation of net income to Adjusted EBITDA is provided in the following tables:
| For the Year Ended | ||||||||||||||||
| Dec 31, | Dec 31, | Increase | % | |||||||||||||
| 2024 | 2023 (Restated) | (Decrease) | Change | |||||||||||||
| Net Income (Loss) | $ | 1,363,681 | $ | 9,150,835 | $ | (7,787,154 | ) | -85 | % | |||||||
| Adjustments: | ||||||||||||||||
| Provision for income taxes | 887,286 | 1,818,812 | $ | (931,526 | ) | -51 | % | |||||||||
| Depreciation and amortization | 1,136,812 | 928,545 | $ | 208,267 | 22 | % | ||||||||||
| Interest (net) | (182,018 | ) | (20,440 | ) | $ | (161,578 | ) | 790 | % | |||||||
| EBITDA | $ | 3,205,761 | $ | 11,877,752 | $ | (8,671,991 | ) | -73 | % | |||||||
| Right of use amortization | (279,592 | ) | 496,127 | $ | (775,719 | ) | ||||||||||
| Adjusted EBITDA | $ | 2,926,169 | $ | 12,373,879 | $ | (9,447,710 | ) | -76 | % | |||||||
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 risks 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 Alec Wilson
Gateway Group, Inc.
VTSI@gateway-grp.com
949-574-3860
- Financial Tables to Follow -
VIRTRA, INC. CONDENSED BALANCE SHEETS | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| (Restated) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 18,040,827 | $ | 18,849,842 | ||||
| Accounts receivable, net | 8,005,452 | 16,472,123 | ||||||
| Inventory, net | 14,583,400 | 12,404,880 | ||||||
| Unbilled revenue | 2,570,441 | 1,109,616 | ||||||
| Prepaid expenses and other current assets | 1,273,115 | 906,803 | ||||||
| Total current assets | 44,473,235 | 49,743,264 | ||||||
| Long-term assets: | ||||||||
| Property and equipment, net | 16,204,663 | 15,487,013 | ||||||
| Operating lease right-of-use asset, net | 437,095 | 716,687 | ||||||
| Intangible assets, net | 558,651 | 567,540 | ||||||
| Security deposits, long-term | 35,691 | 35,691 | ||||||
| Other assets, long-term | 148,177 | 201,670 | ||||||
| Deferred tax asset, net | 3,595,574 | 3,630,154 | ||||||
| Total long-term assets | 20,979,851 | 20,638,755 | ||||||
| Total assets | $ | 65,453,086 | $ | 70,382,019 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 957,384 | $ | 2,282,427 | ||||
| Accrued compensation and related costs | 1,253,544 | 2,221,416 | ||||||
| Accrued expenses and other current liabilities | 657,114 | 3,970,559 | ||||||
| Note payable, current | 230,787 | 226,355 | ||||||
| Operating lease liability, short-term | 192,410 | 317,840 | ||||||
| Deferred revenue, short-term | 6,355,316 | 6,736,175 | ||||||
| Total current liabilities | 9,646,555 | 15,754,772 | ||||||
| Long-term liabilities: | ||||||||
| Deferred revenue, long-term | 2,282,996 | 3,012,206 | ||||||
| Note payable, long-term | 7,567,536 | 7,813,021 | ||||||
| Operating lease liability, long-term | 265,111 | 432,176 | ||||||
| Total long-term liabilities | 10,115,643 | 11,257,403 | ||||||
| Total liabilities | 19,762,198 | 27,012,175 | ||||||
| Commitments and contingencies (See Note 9) | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock | - | - | ||||||
| Common stock | 1,125 | 1,109 | ||||||
| Class A common stock | - | - | ||||||
| Class B common stock | - | - | ||||||
| Additional paid-in capital | 32,915,112 | 31,957,765 | ||||||
| Retained earnings | 12,774,651 | 11,410,970 | ||||||
| Total stockholders’ equity | 45,690,888 | 43,369,844 | ||||||
| Total liabilities and stockholders’ equity | $ | 65,453,086 | $ | 70,382,019 | ||||
| VIRTRA, INC. CONDENSED STATEMENTS OF OPERATIONS | ||||||||
| For the years ended | ||||||||
| December 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
| (Restated) | ||||||||
| Revenues: | ||||||||
| Net sales | $ | 26,350,819 | $ | 38,791,337 | ||||
| Total revenue | 26,350,819 | 38,791,337 | ||||||
| Cost of sales | 6,938,304 | 11,378,264 | ||||||
| Gross profit | 19,412,515 | 27,413,073 | ||||||
| Operating expenses: | ||||||||
| General and administrative | 14,412,882 | 14,235,194 | ||||||
| Research and development | 3,003,302 | 2,794,314 | ||||||
| Net operating expense | 17,416,184 | 17,029,508 | ||||||
| Income from operations | 1,996,331 | 10,383,565 | ||||||
| Other income (expense): | ||||||||
| Other income | 829,618 | 888,464 | ||||||
| Other (expense) income | (574,982 | ) | (302,382 | ) | ||||
| Net other income | 254,636 | 586,082 | ||||||
| Income before provision for income taxes | 2,250,967 | 10,969,647 | ||||||
| Provision for income taxes | 887,286 | 1,818,812 | ||||||
| Net income | $ | 1,363,681 | $ | 9,150,835 | ||||
| Net income per common share: | ||||||||
| Basic | $ | 0.12 | $ | 0.85 | ||||
| Diluted | $ | 0.12 | $ | 0.85 | ||||
| Weighted average shares outstanding: | ||||||||
| Basic | 11,162,917 | 10,958,448 | ||||||
| Diluted | 11,162,917 | 10,963,477 | ||||||
| VIRTRA, INC. CONDENSED STATEMENTS OF CASH FLOWS | ||||||||
| For the Years Ended December 31 | ||||||||
| 2024 | 2023 | |||||||
| (Restated) | ||||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 1,363,681 | $ | 9,150,835 | ||||
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | ||||||||
| Depreciation and amortization | 1,136,812 | 928,545 | ||||||
| Right of use amortization | 279,592 | 496,127 | ||||||
| Bad debt expense | (166,640 | ) | 308,657 | |||||
| Employee stock compensation | 777,093 | 75,037 | ||||||
| Stock reserves for future services | 160,104 | 407,453 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | 8,633,309 | (13,777,894 | ) | |||||
| Inventory, net | (2,178,520 | ) | (2,812,552 | ) | ||||
| Deferred taxes | 34,580 | (1,391,392 | ) | |||||
| Unbilled revenue | (1,460,825 | ) | 6,376,375 | |||||
| Prepaid expenses and other current assets | (366,313 | ) | (375,753 | ) | ||||
| Other assets | 53,493 | 174,791 | ||||||
| Accounts payable and other accrued expenses | (5,606,536 | ) | 3,810,157 | |||||
| Operating lease right of use | (292,495 | ) | (527,690 | ) | ||||
| Deferred revenue | (1,110,069 | ) | 3,839,920 | |||||
| Net cash provided by operating activities | 1,257,266 | 6,682,616 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchase of intangible assets | - | - | ||||||
| Purchase of property and equipment | (1,845,572 | ) | (1,128,187 | ) | ||||
| Net cash used in investing activities | (1,845,572 | ) | (1,128,187 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Principal payments of debt | (240,862 | ) | (243,084 | ) | ||||
| Stock issued for options exercised | 20,153 | 54,900 | ||||||
| Net cash used in financing activities | (220,709 | ) | (188,184 | ) | ||||
| Net increase (decrease) in cash | (809,015 | ) | 5,366,245 | |||||
| Cash and restricted cash, beginning of period | 18,849,842 | 13,483,597 | ||||||
| Cash and restricted cash, end of period | $ | 18,040,827 | $ | 18,849,842 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Income taxes paid (refunded) | $ | 5,505,793 | $ | - | ||||
| Interest paid | $ | 241,838 | $ | 248,653 | ||||
FAQ
What caused VirTra's (VTSI) revenue decline in Q4 2024?
How much did VTSI's Q4 2024 bookings grow compared to Q3 2024?
What is VirTra's (VTSI) current backlog as of December 31, 2024?
How did VTSI's full-year 2024 earnings compare to 2023?
What progress has VTSI made in the U.S. Army's IVAS program?
