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VTSI

VirTra, Inc.

VTSI

VirTra, Inc. • NASDAQ
$4.96 ▲ 1.22% (+0.06)
Market Cap $56.04 M
52w High $8.00
52w Low $3.57
Dividend Yield 0%
P/E 49.6
Volume 14.25K
Outstanding Shares 11.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.35M ▼ $3.968M ▲ $-388.567K ▼ -7.263% ▼ $-0.03 ▼ $-279.775K ▼
Q2-2025 $6.979M ▼ $3.898M ▲ $175.314K ▼ 2.512% ▼ $0.016 ▼ $1.47M ▼
Q1-2025 $7.16M ▲ $3.829M ▼ $1.264M ▲ 17.654% ▲ $0.11 ▲ $1.726M ▲
Q4-2024 $4.697M ▼ $4.217M ▼ $-1.636M ▼ -34.837% ▼ $-0.15 ▼ $-945.364K ▼
Q3-2024 $7.484M $4.742M $583.101K 7.791% $0.052 $1.106M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $20.767M ▲ $66.204M ▼ $19.373M ▼ $46.831M ▼
Q2-2025 $20.697M ▲ $67.37M ▲ $20.027M ▲ $47.343M ▲
Q1-2025 $17.613M ▼ $66.797M ▲ $19.813M ▲ $46.984M ▲
Q4-2024 $18.041M ▼ $65.453M ▼ $19.762M ▼ $45.691M ▼
Q3-2024 $19.668M $66.068M $19.918M $46.15M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-388.567K ▼ $36.346K ▼ $97.499K ▲ $-64.094K ▼ $69.751K ▼ $133.84K ▼
Q2-2025 $175.315K ▼ $5.982M ▲ $-2.834M ▼ $-63.441K ▲ $3.085M ▲ $3.148M ▲
Q1-2025 $1.264M ▲ $65.691K ▲ $-428.371K ▼ $-65.521K ▼ $-428.201K ▲ $-362.68K ▲
Q4-2024 $-1.636M ▼ $-1.412M ▼ $-153.323K ▼ $-62.301K ▼ $-1.628M ▼ $-1.565M ▼
Q3-2024 $583.101K $1.401M $-83.451K $-60.774K $1.257M $1.318M

Revenue by Products

Product Q1-2023Q1-2025Q2-2025Q3-2025
Net Sales
Net Sales
 $10.00M ▲$0 ▼$10.00M ▲$10.00M ▲
Corporate Segment
Corporate Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement VirTra’s revenue base is still relatively small but has grown over the past five years, with some ups and downs as contracts and projects shift between years. Profitability has generally been positive but thin, reflecting a business that is past the “early idea” stage yet not a large-scale industrial player. The standout year was 2023, when earnings per share jumped well above the surrounding years, which likely reflects unusually strong demand, mix, or one-time factors that are hard to repeat. By 2024, profits remained positive but had stepped back toward more typical levels, suggesting a solid, but not yet consistently high-margin, earnings profile. Overall, the income statement shows a company that can make money, but with results that are still quite sensitive to timing of orders and operating execution.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. Total assets have grown over time, indicating steady reinvestment into the business and its capabilities. Cash levels are modest but stable, and the company carries only a small amount of debt, which limits financial risk and interest burden. Equity has been building gradually, showing that retained profits are accumulating and that the company is not heavily reliant on borrowing to fund growth. In short, VirTra appears financially cautious, with a lean but sound capital base that gives it flexibility without being overleveraged.

Cash Flow

Cash Flow Cash generation has been uneven, which is common for a small company selling higher-ticket systems on a project basis. Operating cash flow turned clearly positive in 2023 but has not been consistently strong across all years, underlining the impact of order timing, delivery schedules, and working capital swings. Free cash flow has occasionally dipped into slightly negative territory but without large, sustained cash burn. Capital spending requirements appear light, which helps offset the volatility in cash inflows. The cash flow profile suggests a business that can fund itself in normal conditions, but where short-term cash swings are worth watching closely.

Competitive Edge

Competitive Edge VirTra occupies a specialized niche in defense and public safety training, focusing on highly realistic, immersive simulators rather than broad defense hardware. Its multi-screen environments, realistic weapon recoil systems, and stress-inducing tools are differentiated and difficult to replicate quickly, creating meaningful technical barriers to entry. The nationally certified V-VICTA curriculum and very high customer retention deepen its moat, because buyers are not only buying hardware but also an accepted, standards-based training framework. The subscription-style STEP program adds a layer of recurring revenue and makes systems accessible to smaller agencies, reinforcing long-term relationships. The main competitive challenges come from larger defense and training players, emerging VR/XR solutions, and dependence on government and law-enforcement budgets, which can be cyclical and politically driven.

Innovation and R&D

Innovation and R&D Innovation is at the heart of VirTra’s strategy, with a clear emphasis on making training more realistic, more measurable, and more accessible. The company continues to refine its core simulators while expanding into extended reality and headset-based solutions, aiming to offer more portable and flexible training tools. Its work on high-fidelity video, volumetric content, and new scenario libraries keeps the software and curriculum side of the business fresh, which is critical for ongoing customer engagement. Tools like V-Author empower clients to build their own scenarios, deepening integration into daily training routines and raising switching costs. The main R&D risk is that technology in VR/XR evolves quickly, so VirTra must keep pace with or stay ahead of both specialized competitors and broader tech players entering the training space.

Summary

VirTra is a small but established simulation training provider with a clear niche in highly realistic law-enforcement and defense training. Financially, it shows modest but real profitability, a conservative balance sheet with little debt, and lumpy but generally self-sustaining cash flows. Competitively, it benefits from differentiated technology, certified curriculum, sticky customer relationships, and a subscription model that supports recurring revenue. Its future potential is tied to ongoing innovation in VR/XR, expansion into military and international markets, and growing emphasis on effective, de-escalation-focused training. Key uncertainties include contract timing, reliance on public-sector budgets, and the need to continuously invest in technology to maintain its lead in an evolving training landscape.

NEWS

November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of VirTra, Inc. - VTSI

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November 18, 2025 · 4:00 PM UTC

ATTENTION VTSI Investors: Securities Fraud Investigation Underway - Contact Levi & Korsinsky

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November 10, 2025 · 4:05 PM UTC

VirTra Reports Third Quarter and Nine Months 2025 Financial Results

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November 4, 2025 · 8:00 AM UTC

VirTra Appoints Grant Barber to Advisory Board

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October 27, 2025 · 8:00 AM UTC

VirTra Sets Third Quarter 2025 Conference Call for Monday, November 10, 2025 at 4:30 p.m. ET

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