VirTra, Inc. specializes in delivering cutting-edge simulation and firearms training solutions to a global clientele, including law enforcement, military, educational bodies, and ...
VirTra, Inc. (Nasdaq: VTSI), headquartered in Chandler, Arizona, is a global provider of advanced simulation and firearms training solutions. Founded in 1993 as Ferris Productions by Bob Ferris and later renamed VirTra, Inc. in October 2016, the company specializes in creating immersive training environments that help frontline professionals develop critical ...VirTra, Inc. (Nasdaq: VTSI), headquartered in Chandler, Arizona, is a global provider of advanced simulation and firearms training solutions. Founded in 1993 as Ferris Productions by Bob Ferris and later renamed VirTra, Inc. in October 2016, the company specializes in creating immersive training environments that help frontline professionals develop critical decision-making, de-escalation, and use-of-force skills. Their product lineup includes a range of simulators: the V-300 with a 300-degree wrap-around screen for comprehensive scenarios, the V-180 for space-constrained environments, and single-screen systems like the V-100, V-100 MIL for military small arms practice, and the V-ST PRO for realistic shooting experiences. The company also offers the V-One Portable Simulator, a compact, all-in-one solution in a travel case, introduced at IACP 2025. Beyond hardware, VirTra provides the Virtual Interactive Coursework Training Academy (VICTA) for curriculum management and the Subscription Training Equipment Partnership (STEP) for flexible access to simulators and training content. Additionally, they supply the V-Author software for custom content creation, simulated weapons, recoil kits, and specialized training devices like 'Threat-Fire' for stress inoculation, plus peripherals for TASER, OC spray, and low-light training. The company markets its solutions through a direct sales team and distribution partners worldwide.
Financially, as of the latest TTM data, VirTra has a market capitalization of approximately $35.6 million, with a stock price of $3.15. The company's revenue per share stands at $1.656, but it is currently operating at a net loss with a net profit margin of -12.5% TTM. Gross profit margin is healthy at 64.9%, but high operating expenses (SG&A at 64.8% of revenue) and R&D costs (12.2% of revenue) have led to negative EBITDA margin (-2.6%). The enterprise value-to-sales ratio is 1.361, indicating the stock trades at a relatively low revenue multiple. Research and development efforts are significant, reflecting the company's focus on innovation. Key leadership includes CEO John F. Givens, who became CEO in a leadership transition, and CTO Brandon Cox, appointed in August 2024, both bringing extensive industry experience. With 94 full-time employees, VirTra continues to develop cutting-edge training technologies to enhance public safety and military readiness.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$22.4M
-15.0%
+65.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$258446
-81.0%
+80.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+67.9%
-7.9%
-3.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+2.0%
-74.2%
+91.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+1.2%
-77.7%
+88.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$3.1M
+622.3%
-351.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+13.7%
+714.4%
-172.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
17.2%
-5.0%
+48.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
3.97x
-13.8%
-0.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon, and welcome to VirTra's second quarter 2026 earnings conference call. My name is Drew, and I will be your operator for today's call. Joining us for today's presentation are the company's CEO, John Givens, and CFO, Alanna Boudreau. Following their remarks, we will open the call for questions. Before we begin the call, I would like to provide VirTra's Safe Harbor statement that include cautions regarding forward-looking statements made during this call. During this presentation, management may discuss financial projections, information, or expectations about the company's products and services or markets, or otherwise make statements about the future, which are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. The company does not undertake any obligation to update them as required by law. Finally, I'd like to remind everyone that this call will be made available for replay via a link in the investor relations section on the company's website at www.virtra.com. Now, I'd like to turn the call over to VirTra's CEO, Mr. John Givens. Thank you, and you may proceed, sir.
John Givens: Thank you, Drew, and thank you everyone for joining us this afternoon. After the market closed today, we issued a press release that provided our financial results for the second quarter ended June 30th, 2026, along with an update on our business and operating environment. For the quarter, revenue totaled $5.8 million, bookings were $5.5 million, and backlog remained strong at approximately $24.9 million. These results reflected improved revenue conversion compared to the first quarter, particularly within our international business, while customer funding and procurement timing continued to influence our overall performance. As we discussed over the last several quarters, the fundamental demand environment for VirTra solution has remained intact. The primary challenge has not been demand, but rather the timing associated with the funding awards, the procurement approvals, and customer acceptance processes. During the second quarter, we continued to see evidence that these processes are moving forward. Multiple grant programs have reopened, funding allocations are moving through the system, and customers are actively submitting applications and advancing procurement efforts. While there are still several steps between an application and revenue recognition, we believe these developments represent meaningful progress compared with the constrained funding environment we've experienced over the last two years. Importantly, once funding is awarded and purchase orders are issued, our team remains well-positioned to fulfill orders quickly. The uncertainty today is less about the customer's interest and more about the timing of administrative and procurement processes outside of our control. This quarter provided additional evidence that many of those …