VirTra reports Q1 EPS 11c vs. 4c last year

Reports Q1 revenue $7.2M vs. $7.3M last year. The company states: “First quarter bookings totaled $6.4 million, a strong increase from $2.9 million in Q1 2024 and contributing to $33.4 million in bookings over the last twelve months, reflecting continued traction despite persistent federal funding uncertainty, including delayed disbursements and continuing resolutions. Backlog totaled $21.2 million as of March 31, 2025, including $9.9 million in Capital, $5.8 million in Service, and $5.5 million in STEP contracts.” VirTra (VTSI) CEO John Givens stated, “We started 2025 with improved operational execution and a solid backlog foundation, though bookings moderated quarter-over-quarter due to delays in federal budget disbursements, standard seasonality, and a more cautious demand environment across the law enforcement and defense sectors. These dynamics have reinforced the importance of programs like STEP, which provide affordable, recurring access to immersive training systems even when procurement cycles slow down. Our development efforts related to the U.S. Army’s IVAS program also advanced during the quarter, including expanded recoil kit validation and reliability testing, which are key steps as we prepare for a potential transition into the production phase. Alongside this, demand for our V-XR platform continues to build, with the first delivery expected in Q2 and additional units already in process. With more focused sales and marketing functions, we’re engaging priority agencies more directly and improving conversion across channels. As part of this effort, we reentered the General Services Administration procurement program in Q1 with standardized product bundles, enabling eligible agencies to purchase directly from a federal catalog and reducing friction in the purchasing process. VirTra is positioned to convert opportunity into growth in the quarters ahead. Our focus remains on disciplined execution and aligning closely with the evolving training needs of our customers.”