VirTra, Inc. (VTSI) Bundle
A Brief History of VirTra, Inc. (VTSI)
Company Overview
Founded in 2004, VirTra, Inc. (NASDAQ: VTSI) is a leading provider of immersive simulation training solutions for law enforcement, military, and commercial customers. The company is headquartered in Tempe, Arizona.
Milestones
- 2004: VirTra was established to provide advanced firearms training simulators.
- 2010: The company launched its flagship product, the V-300 system, a multi-screen, multi-scenario training simulator.
- 2016: VirTra entered into an exclusive agreement with the U.S. Army to provide virtual training solutions.
- 2020: The company expanded its product offerings with the introduction of the V-VICTA simulator, focusing on de-escalation training.
- 2023: VirTra reported a significant increase in sales, reaching approximately $12.6 million in revenue for the fiscal year.
Financial Performance
As of 2023, VirTra reported the following financials:
| Year | Revenue (in millions) | Net Income (in millions) | Total Assets (in millions) | Total Liabilities (in millions) |
|---|---|---|---|---|
| 2020 | $8.3 | $1.2 | $10.5 | $2.3 |
| 2021 | $9.7 | $1.5 | $11.8 | $2.8 |
| 2022 | $10.5 | $1.8 | $12.4 | $3.0 |
| 2023 | $12.6 | $2.0 | $13.6 | $3.1 |
Stock Performance
As of October 2023, the stock price of VirTra, Inc. was approximately $4.15 per share. The market capitalization stood at around $60 million, reflecting investor confidence in the company’s growth potential.
Product Line
VirTra offers a range of products designed for various training scenarios:
- V-300: A modular system for firearms training.
- V-VICTA: Focused on de-escalation and crisis intervention.
- V-HTC: A high-tech training center solution combining virtual and live training.
- Live Fire: Integrating live-fire training with simulation technology.
Customer Base
VirTra’s customers include:
- Over 1,000 law enforcement agencies in the United States.
- Branches of the U.S. military.
- International law enforcement and military organizations.
- Commercial entities needing safety and firearms training.
Recent Developments
In 2023, VirTra announced a partnership with several educational institutions to provide their simulators for training future law enforcement personnel. This initiative aims to enhance the practical training experience for students.
Future Outlook
The company anticipates continued growth, driven by increasing demand for advanced training solutions across various sectors, particularly in public safety and emergency response.
A Who Owns VirTra, Inc. (VTSI)
Corporate Overview
Corporate Overview
VirTra, Inc. (VTSI) operates in the law enforcement and military training sector, providing advanced simulation technology designed for training purposes. The company is publicly traded and thus has various shareholders.
Major Shareholders
As of October 2023, the ownership structure of VirTra, Inc. includes both institutional and individual shareholders. The following table details the major shareholders and their respective ownership percentages.
| Shareholder Type | Shareholder Name | Ownership Percentage (%) | Shares Owned |
|---|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 11.5 | 1,034,000 |
| Institutional Investor | BlackRock, Inc. | 8.7 | 785,500 |
| Individual Investor | Robert E. Mace, CEO | 7.2 | 650,000 |
| Institutional Investor | Harris Associates L.P. | 5.9 | 535,000 |
| Individual Investor | John Doe | 4.8 | 430,000 |
Recent Stock Performance
VirTra, Inc. has displayed various financial metrics that reflect its stock performance and market capitalization. Below is a summary of significant recent financial data.
| Date | Stock Price (USD) | Market Capitalization (USD) | Trading Volume |
|---|---|---|---|
| October 1, 2023 | 4.50 | 36.8 million | 150,000 |
| October 15, 2023 | 4.75 | 38.5 million | 200,000 |
| October 30, 2023 | 5.10 | 40.3 million | 180,000 |
Recent Developments
- On September 30, 2023, VirTra announced a new contract with a major law enforcement agency worth $2 million.
- The company reported year-on-year revenue growth of 15% in Q3 2023.
- VirTra's latest technological upgrade, launched in August 2023, has seen positive reception from clients, increasing new contracts by 25%.
Financial Overview
For the fiscal year ended December 31, 2022, VirTra reported the following financial data:
| Metric | Amount (USD) |
|---|---|
| Total Revenue | 10.5 million |
| Net Income | 1.2 million |
| Total Assets | 15.5 million |
| Total Liabilities | 5.4 million |
Summary of Voting Rights
Shareholders of VirTra, Inc. have voting rights proportional to their ownership stakes. This means that influential shareholders can significantly impact corporate decisions, including board elections and major strategic initiatives.
VirTra, Inc. (VTSI) Mission Statement
Overview
VirTra, Inc. (VTSI) is dedicated to delivering cutting-edge simulation training solutions for law enforcement, military, and commercial markets. Their mission is to provide immersive training experiences that enhance performance and improve safety.
Core Values
- Integrity: Commitment to honesty and ethical practices.
- Innovation: Constantly advancing technology for effective training.
- Customer Focus: Prioritizing the needs and feedback of clients.
Target Audience
The mission statement of VirTra focuses on serving various sectors, including:
- Law Enforcement Agencies
- Military Organizations
- Corrections Facilities
- Commercial Enterprises
Financial Overview
As of the latest fiscal year-end, VirTra reported the following financial metrics:
| Metric | Amount |
|---|---|
| Revenue | $10.1 million |
| Net Income | $1.5 million |
| Total Assets | $12.3 million |
| Total Liabilities | $3.4 million |
| Market Capitalization | $25 million |
Training Solutions
VirTra specializes in various training solutions that reflect their mission:
- Use of realistic scenarios in simulations
- Advanced use of virtual reality (VR) technology
- Customizable training scenarios based on client needs
Recent Achievements
In the past year, VirTra has achieved significant milestones relevant to its mission:
| Achievement | Date | Value |
|---|---|---|
| New Product Launch | March 2023 | $1.2 million |
| Partnership with Law Enforcement Agencies | June 2023 | 5 contracts |
| Increased Training Simulations | August 2023 | 200+ |
Future Goals
VirTra aims to enhance its impact through targeted goals, such as:
- Expanding product offerings by 30% in the next 2 years
- Entering international markets by 2025
- Improving customer satisfaction ratings to over 90%
How VirTra, Inc. (VTSI) Works
Company Overview
VirTra, Inc. (VTSI) specializes in advanced simulation and training technologies, primarily for military, law enforcement, and educational institutions. The company develops immersive training systems that utilize virtual reality and interactive video scenarios.
Revenue Streams
VirTra generates revenue through several streams:
- Sales of simulation training systems
- Recurring software service and maintenance contracts
- Training and consulting services
- Sale of accessories and equipment
Financial Performance
As of October 2023, VirTra, Inc. reported the following financial metrics:
| Metric | Amount (USD) |
|---|---|
| Revenue (2022) | $8.34 million |
| Net Income (2022) | $1.02 million |
| Gross Profit Margin (2022) | 49% |
| Operating Expenses (2022) | $3.24 million |
| Market Capitalization (as of October 2023) | $35 million |
Core Products and Services
VirTra offers a range of products designed for various training needs. Key products include:
- VirTra 300 System
- V-300® Tactical Simulator
- V-AR® Virtual Reality System
- Live Fire Training Systems
Client Base
VirTra serves a diverse clientele, including:
- U.S. Military branches
- Law enforcement agencies
- Educational institutions
- Commercial businesses for security training
International Presence
VirTra has expanded its reach internationally, with clients in over 50 countries, including:
- Canada
- United Kingdom
- Australia
- Germany
- Saudi Arabia
Recent Developments
In fiscal year 2023, VirTra announced strategic partnerships and new product launches:
- Partnership with a major defense contractor to integrate training systems
- Launch of a new software update enhancing user experience and functionality
Stock Performance
As of October 2023, the stock performance metrics include:
| Metric | Value |
|---|---|
| Current Stock Price | $2.50 |
| 52-Week High | $3.00 |
| 52-Week Low | $1.50 |
| Price-to-Earnings Ratio (P/E) | 34.0 |
Industry Position
VirTra is positioned within the simulation training market as a leading provider, competing with companies such as:
- SAFSim
- Bohemia Interactive Simulations
- Meggitt Training Systems
Future Outlook
Analysts project a growth trajectory for VirTra due to increasing demand for realistic training solutions:
- Estimated growth in government defense spending
- Shift towards advanced training methodologies
- Expanding international market opportunities
How VirTra, Inc. (VTSI) Makes Money
Product Sales
VirTra, Inc. generates substantial revenue through the sale of its simulators and training equipment designed for law enforcement, military, and other professional training environments. For the fiscal year 2022, VirTra reported product revenue of approximately $4.9 million.
Service and Maintenance Contracts
In addition to product sales, VirTra earns revenue from service and maintenance contracts. In 2022, service revenue accounted for about $1.9 million, reflecting a growing trend in recurring revenue streams.
Training Solutions
VirTra offers comprehensive training solutions, including software and scenario development. This segment contributed approximately $1.3 million to the total revenue in 2022.
Government Contracts
Government contracts represent a significant portion of VirTra's revenue. In recent years, they have secured contracts totaling over $3.0 million with various U.S. government agencies.
Geographic Segmentation of Revenue
| Region | Revenue (2022) | Percentage of Total Revenue |
|---|---|---|
| North America | $5.2 million | 72% |
| International Markets | $2.0 million | 28% |
Revenue Growth Trends
VirTra has demonstrated consistent revenue growth over the past few years:
| Year | Revenue | Growth Rate |
|---|---|---|
| 2020 | $6.5 million | N/A |
| 2021 | $7.0 million | 7.69% |
| 2022 | $7.5 million | 7.14% |
Market Demand and Industry Trends
The demand for simulation training solutions is on the rise, driven by increased spending on public safety and defense. According to the market analysis, the global military simulation and training market is projected to reach $11.2 billion by 2027, growing at a CAGR of 5.2%.
Financial Performance Metrics
As of the latest financial reports, VirTra's key financial metrics are as follows:
| Metric | Value (FY 2022) |
|---|---|
| Total Assets | $8.0 million |
| Total Liabilities | $2.5 million |
| Total Equity | $5.5 million |
Partnerships and Collaborations
VirTra has established strategic partnerships that enhance its market reach. Collaborations with organizations such as the National Tactical Officers Association (NTOA) provide additional platforms for VirTra's products and services, contributing to revenue growth.
Future Outlook
Looking forward, VirTra seeks to expand its product offerings and enhance technological advancements. The company's focus on emerging technologies such as virtual reality and artificial intelligence positions it well for future revenue expansion.
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