VTSI VirTra, Inc.
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Executive Summary
VirTra reported full-year 2025 revenue of $22.4 million, down 15% YoY, with net income declining to $0.3 million from $1.4 million in 2024. Despite declining financials, bookings improved to $26.7 million and backlog reached $25.6 million, signaling recovery potential as federal funding disruptions ease. Management cites normalization in government grant funding as a catalyst for future revenue conversion.
Key Financial Metrics
Actionable Insight
Monitor federal grant award timelines and backlog conversion rates in upcoming quarters; improved funding flow could drive revenue rebound despite current decline. The stock may react positively to signs of order fulfillment acceleration.
Key Facts
- Full-year 2025 revenue was $22.4 million, down 15% from $26.4 million in 2024 (restated).
- Net income dropped to $0.3 million ($0.02 EPS) from $1.4 million ($0.12 EPS) in the prior year.
- Adjusted EBITDA fell 45% to $1.6 million.
- Bookings totaled $26.7 million for 2025, with Q4 alone at $7.3 million.
- Backlog reached $25.6 million as of December 31, 2025.
- Cash balance increased to $18.6 million from $18.0 million year-ago.
- Management attributes decline to federal funding delays, now beginning to resolve.
Financial Impact
Revenue down $4M YoY, net income down $1.1M; however, strong backlog suggests revenue recovery possible in 2026.
Risk Factors
- Revenue and earnings continue to decline, indicating ongoing execution risk.
- Heavy reliance on government funding creates timing and unpredictability risk.
- Gross margin compressed from 74% to 68%, pressuring profitability.
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3263406 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 11, 2026
29d ago
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8-K
| $3.48 $3.42 | ▲ +1.72% | ▲ +1.80% | $3.35 (+3.74%) |
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May 11, 2026
29d ago
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Press Release
| $3.48 $3.42 | ▲ +1.72% | ▲ +1.80% | $3.35 (+3.74%) |
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Mar 26, 2026
10w ago
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Press Release
| $3.74 $3.66 | ▼ −2.01% | ▼ −5.87% | $3.35 (−10.31%) |
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Mar 12, 2026
12w ago
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Press Release
| $4.29 $4.36 | ▲ +1.63% | ▲ +3.75% | $3.35 (−21.91%) |
US Market Status
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