Company Performance - VirTra, Inc. (VTSI) closed at $6.10, reflecting a -1.93% change from the previous day's close, underperforming the S&P 500's 0.03% gain [1] - Over the past month, shares of VirTra, Inc. have decreased by 5.61%, while the Aerospace sector gained 4.66% and the S&P 500 increased by 4.19% [1] Upcoming Earnings - The upcoming earnings release is anticipated, with an expected EPS of $0.07, indicating a 72% decline compared to the same quarter last year [2] - Quarterly revenue is projected to be $8.09 million, down 20.06% from the year-ago period [2] Analyst Estimates - Recent modifications to analyst estimates for VirTra, Inc. are crucial for investors, as they reflect short-term business trends [3] - Positive estimate revisions indicate analyst optimism regarding the company's business and profitability [3] Zacks Rank and Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks VirTra, Inc. as 3 (Hold) [5] - The Forward P/E ratio for VirTra, Inc. is 10.72, aligning with the industry average, indicating no significant deviation from the group [6] Industry Context - The Electronics - Military industry, part of the Aerospace sector, holds a Zacks Industry Rank of 86, placing it in the top 35% of over 250 industries [6] - The Zacks Industry Rank suggests that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Financial Data and Key Metrics Changes - Revenues for Q3 2024 were $7.5 million, up 23% from Q2 2024 and in line with $7.6 million in Q3 2023 [6] - Q3 bookings increased to $8.9 million, up 51% from $5.9 million in Q2 2024 and up 22% from $7.3 million in Q3 2023 [6] - Gross margins improved to 73% from 71% in Q3 2023, reflecting operational efficiencies [8][25] - Net income for Q3 2024 was $0.6 million or $0.05 per diluted share, compared to $1.6 million or $0.15 per diluted share in the prior year [29] Business Line Data and Key Metrics Changes - Government revenue decreased to $6.9 million from $7.3 million in the prior year, impacted by federal funding delays [23] - International revenue increased to $0.4 million from $0.2 million in 2023, with an expanding international pipeline [23] Market Data and Key Metrics Changes - The company is focusing on expanding its international reseller network, particularly in Canada, South America, and Europe [9] - The V-XR platform is being introduced to meet diverse training needs across various sectors, including healthcare and education [12][14] Company Strategy and Development Direction - The V-XR platform is expected to be a cornerstone of the company's growth strategy, enhancing training capabilities for law enforcement and other sectors [14] - The company is investing in high-quality training content to maintain a competitive advantage [14] - Strategic investments in sales and marketing are being made to support ongoing growth initiatives [27] Management's Comments on Operating Environment and Future Outlook - Management is closely monitoring macroeconomic factors that could affect customer funding, with December's budget discussions being pivotal [22] - The company is well-prepared to respond to funding opportunities as they arise, despite potential near-term fluctuations [36] Other Important Information - The company welcomed two new members to its Board of Directors, enhancing governance and expertise in military and law enforcement training [18][19] - Operational improvements have been implemented, including a new manufacturing facility and ERP system, to support increased demand [20][21] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with management expressing gratitude for shareholder support [38][40]

Core Viewpoint - VirTra, Inc. reported quarterly earnings of $0.05 per share, matching the Zacks Consensus Estimate, but down from $0.15 per share a year ago [1] - The company posted revenues of $7.48 million for the quarter, exceeding the Zacks Consensus Estimate by 9.98%, but slightly down from $7.56 million year-over-year [2] Financial Performance - Earnings per share (EPS) for the latest quarter was $0.05, consistent with estimates, while the previous quarter's EPS was $0.11, which was a 10% surprise over the expected $0.10 [1] - The company has surpassed consensus EPS estimates two times in the last four quarters [1] - Revenue for the quarter was $7.48 million, which is a decrease from $7.56 million year-over-year, but has topped consensus revenue estimates two times in the last four quarters [2] Stock Performance - VirTra shares have declined approximately 26.4% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The current Zacks Rank for VirTra is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $8.09 million, and for the current fiscal year, it is $0.34 on revenues of $29.07 million [7] - The outlook for the Electronics - Military industry, where VirTra operates, is currently in the top 35% of Zacks industries, suggesting a favorable environment for stock performance [8]

Financial Performance - Q3 2024 bookings increased by 51% quarter-over-quarter to $8.9 million, and a 22% year-over-year increase from $7.3 million in Q3 2023[2]. - Total revenue for Q3 2024 was $7.5 million, a slight decrease of 1% from $7.6 million in Q3 2023[7]. - Net income for Q3 2024 was $0.6 million, or $0.05 per diluted share, compared to $1.6 million, or $0.15 per diluted share, in Q3 2023[10]. - Adjusted EBITDA for Q3 2024 was $1.1 million, down 62% from $2.9 million in Q3 2023[10][16]. - Total revenue for the three months ended September 30, 2024, was $7,484,269, a decrease of 1.02% from $7,561,582 in the same period of 2023[19]. - Net income for the three months ended September 30, 2024, was $583,101, down 64.3% from $1,634,790 in the same period of 2023[19]. - Net income for the nine months ended September 30, 2024, was $3,000,002, a decrease from $5,607,804 in the same period of 2023, representing a decline of approximately 46.4%[20]. Cost and Expenses - Gross margin improved to 73%, up from 71% in the prior year period, reflecting a lower cost of sales[2][8]. - Net operating expenses increased by 28% to $4.7 million, driven by investments in staff and expanded sales and marketing efforts[9]. - Operating expenses increased to $4,742,341 for the three months ended September 30, 2024, compared to $3,716,463 in the prior year, representing a rise of 27.5%[19]. - Research and development expenses for the three months ended September 30, 2024, were $724,757, up from $487,388 in the same period of 2023, indicating a growth of 48.6%[19]. Cash Flow and Assets - Cash and cash equivalents as of September 30, 2024, were $19,668,455, an increase from $18,849,842 as of December 31, 2023[18]. - Total current assets decreased to $44,942,232 as of September 30, 2024, from $48,995,288 as of December 31, 2023, a decline of 8.3%[18]. - Accounts receivable increased significantly to $8,661,418 compared to a negative $11,131,628 in the previous year, indicating improved collection efforts[20]. - Cash and restricted cash at the end of the period totaled $19,668,455, up from $17,201,178, marking an increase of approximately 14.3%[20]. - Net cash provided by operating activities decreased to $2,669,269 from $4,365,751, reflecting a decline of about 38.7% year-over-year[20]. - Net cash used in investing activities rose to $1,692,249 from $512,249, indicating increased investment in property and equipment[20]. - Net cash used in financing activities was $158,408, slightly higher than $135,921 in the previous year, reflecting ongoing financing efforts[20]. - The company experienced a net increase in cash of $818,612, a significant drop from $3,717,581 in the same period last year, indicating tighter cash flow management[20]. Liabilities and Equity - Total liabilities decreased significantly to $19,918,340 as of September 30, 2024, from $27,012,175 as of December 31, 2023, a reduction of 26.1%[18]. - The company’s total stockholders' equity increased to $46,150,037 as of September 30, 2024, from $42,621,867 as of December 31, 2023, reflecting a growth of 8.5%[18]. - The company reported an increase in accumulated income to $13,662,995 as of September 30, 2024, compared to $10,662,993 as of December 31, 2023[18]. Strategic Initiatives - The launch of the new V-XR extended reality solution is expected to broaden offerings and open avenues into adjacent markets such as healthcare and education[3]. - The company is optimistic about capitalizing on emerging opportunities as it moves through Q4 and into 2025, despite macroeconomic uncertainties[6]. - A strong backlog of long-term contracts reflects continued demand and provides a steady revenue foundation[11]. Other Financial Metrics - Interest paid during the period was $182,419, with taxes paid amounting to $5,315,442, indicating ongoing financial obligations[20]. - The company issued 20,151 RSUs during the period, down from 41,903 in the previous year, reflecting a decrease in equity compensation[20]. - Inventory net increased by $1,507,068, compared to an increase of $1,183,302 in the prior year, suggesting a potential buildup of stock[20].

Financial Performance - Net sales for Q3 2024 were $7,484,269, a decrease of 1% from $7,561,582 in Q3 2023, and for the nine months ended September 30, 2024, net sales were $21,653,707, down 22% from $27,925,420 in the same period of 2023[94]. - Gross profit for Q3 2024 was $5,497,973, an increase of 2% from $5,386,074 in Q3 2023, while gross profit for the nine months ended September 30, 2024, was $16,484,729, a decrease of 10% from $18,255,712 in the same period of 2023[96]. - Operating income for Q3 2024 was $755,632, a decrease of 55% from $1,669,611 in Q3 2023, and for the nine months ended September 30, 2024, operating income was $3,285,392, down 54% from $7,069,523 in the same period of 2023[98]. - Net income for Q3 2024 was $583,101, a decrease of 64% from $1,634,790 in Q3 2023, and for the nine months ended September 30, 2024, net income was $3,000,002, down 47% from $5,607,804 in the same period of 2023[101]. - Cost of sales for Q3 2024 was $1,986,296, a decrease of 9% from $2,175,508 in Q3 2023, and for the nine months ended September 30, 2024, cost of sales was $5,168,978, a decrease of 47% from $9,669,708 in the same period of 2023[95]. - Operating expenses for Q3 2024 were $4,742,341, an increase of 28% from $3,716,463 in Q3 2023, and for the nine months ended September 30, 2024, operating expenses were $13,199,337, an increase of 18% from $11,186,189 in the same period of 2023[97]. - Adjusted EBITDA for the three months ended September 30, 2024, was $1,082,826, down 62% from $2,867,159 in the prior year[104]. Profitability Metrics - The gross profit margin for Q3 2024 was 73%, compared to 71% in Q3 2023, and for the nine months ended September 30, 2024, the gross profit margin was 76%, compared to 65% in the same period of 2023[96]. - Net income for the three months ended September 30, 2024, was $583,101, a decrease of 64% compared to $1,634,790 for the same period in 2023[104]. Cash Flow and Capital Resources - Cash and cash equivalents as of September 30, 2024, were $19,668,455, an increase from $18,849,842 as of December 31, 2023[104]. - Net cash provided by operating activities for the nine months ended September 30, 2024, was $2,669,269, compared to $4,365,751 for the same period in 2023[105]. - Net cash used in investing activities was $1,692,249 for the nine months ended September 30, 2024, compared to $512,249 for the same period in 2023[106]. - The company had working capital of $35,984,477 as of September 30, 2024, up from $33,240,516 as of December 31, 2023[104]. - Management believes current capital resources will be adequate for more than 12 months, but is open to raising additional funds for expansion[109]. Business Strategy and Market Outlook - The company plans to expand its market share by developing and marketing effective simulators, adding staff to meet expected demand, and increasing its total addressable market through new marketing and product offerings[81][82]. - The company is open to partnerships and acquisitions to optimize long-term growth and shareholder value[84]. - The introduction of new products, such as the V-XR extended reality headset-based training solution, is part of the company's strategy to innovate and broaden its product offerings[94]. - The company plans to convert the majority of new capital bookings received in the first nine months of 2024 into revenue within the same year[108]. - The company received bookings totaling $8.9 million in the three months ending September 30, 2024, and $17.7 million for the nine months ended September 30, 2024[108]. - As of September 30, 2024, the company's backlog was $15.2 million, including $7 million in capital and $6.2 million in service and warranties[108].

Core Insights - VirTra, Inc. reported a significant increase in bookings, totaling $8.9 million in Q3 2024, representing a 51% increase quarter-over-quarter and a 22% increase year-over-year [2][4] - The company's gross margin expanded to 73%, up from 71% in the prior year period, indicating improved cost efficiency [2][3] - The company maintained a robust working capital of $36.0 million, positioning itself for sustained growth and operational agility [2] Financial Performance - Total revenue for Q3 2024 was $7.5 million, slightly down from $7.6 million in Q3 2023, primarily due to previous booking delays caused by federal funding measures [3][6] - Gross profit for the quarter was $5.5 million, reflecting a 2% increase from $5.4 million in the prior year [3][7] - Net income decreased to $0.6 million, or $0.05 per diluted share, compared to $1.6 million, or $0.15 per diluted share, in Q3 2023 [3][9] Operational Highlights - The company advanced its V-XR launch, accepting initial orders and preparing for customer deliveries, which is expected to broaden its market reach [2] - The appointment of retired U.S. Army Lieutenant General Maria R. Gervais and Georgia POST Executive Director Mike Ayers to the Board of Directors enhances the company's expertise in military training and law enforcement certification [2] Management Commentary - The CEO highlighted that the increase in bookings signals the effectiveness of the sales improvements initiated in late 2023, setting a strong foundation for future growth [4] - The CFO emphasized the company's solid cash position and strong gross margin profile, which provide financial flexibility to support growth initiatives [10] Market Outlook - The company is closely monitoring macroeconomic factors, including federal budget decisions, which may impact funding distribution to customers [5] - The management expressed optimism about capitalizing on emerging opportunities as the company moves through Q4 2024 and into 2025 [5]

Core Viewpoint - VirTra, Inc. has appointed two distinguished leaders in military operations and police training to its board, enhancing its governance and strategic leadership as it aims to innovate and expand its training solutions for public safety and military professionals [1][2]. Group 1: Board Appointments - Retired U.S. Army Lieutenant General Maria R. Gervais and Executive Director Mike Ayers of the Georgia POST Council have joined VirTra's board, effective October 21, 2024 [1]. - With these appointments, four out of five board members are now independent, reinforcing the company's commitment to effective governance [1]. Group 2: Leadership Backgrounds - Lt. Gen. Gervais led a $2 billion modernization initiative that reduced Army training time by three years and introduced 3D terrain technology for virtual training [3]. - Mike Ayers has over 37 years of experience in law enforcement training and led a significant overhaul of Georgia's police credentialing program, increasing required training hours from 408 to over 800 [4]. Group 3: Strategic Impact - Gervais's experience with virtual environments will support VirTra's integration of Virtual Battle Space (VBS) military training into its simulator systems [3]. - Ayers's extensive background in training and certification will enhance the effectiveness of VirTra's law enforcement training programs [5]. Group 4: Company Mission and Vision - VirTra aims to save and improve lives through practical and effective virtual reality and simulator technology, focusing on immersive training for law enforcement and military markets [6].

The most recent trading session ended with VirTra, Inc. (VTSI) standing at $6.52, reflecting a -1.21% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.63%. The company's stock has climbed by 2.01% in the past month, exceeding the Aerospace sector's loss of 1.22% and lagging the S&P 500's gain of 3.76%. The investment community will be paying close attention to the earnings performanc ...

VirTra, Inc. (VTSI) closed the latest trading day at $6.16, indicating a -0.96% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.93%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 1.53%. Shares of the company witnessed a loss of 7.44% over the previous month, trailing the performance of the Aerospace sector with its loss of 0.36% and the S&P 500's gain of 2.17%. The upcoming earnings release of VirTra, Inc. will be of great interest t ...

In the latest market close, VirTra, Inc. (VTSI) reached $6.17, with a +0.16% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow lost 0.7%, and the Nasdaq, a tech-heavy index, added 0.04%. Heading into today, shares of the company had lost 5.59% over the past month, lagging the Aerospace sector's gain of 1.86% and the S&P 500's gain of 1.95% in that time. The investment community will be paying close attention to the earnings performance of VirTra, ...