VirTra, Inc. (VTSI) 10-Year Financial Performance & Capital Metrics

VTSI • • Industrial / General

IndustrialsAerospace & DefenseTraining & SimulationFlight Training & Simulation

AboutVirTra, Inc. provides force training simulators and firearms training simulators for law enforcement, military, educational, and commercial markets worldwide. It offers V-300 simulator, a 300 degree wrap-around screen for simulation training; V-180 simulator, a 180 degree screen for smaller spaces or budgets; V-100, a single-screen firearms training simulator system; V-100 MIL, a single-screen small arms training simulator; and V-ST PRO, a realistic single screen firearms shooting and skills training simulator. The company also provides Virtual Interactive Coursework Training Academy, which enables law enforcement agencies to teach, train, test, and sustain departmental training requirements; and Subscription Training Equipment Partnership, a program that allows agencies to utilize VirTra's simulator products, accessories, and V-VICTA interactive coursework on a subscription basis. In addition, it offers V-Author software that allows users to create, edit, and train with content specific to agency's objectives; a range of simulated recoil kits/weapons; Threat-Fire, a return fire device that applies real-world stress on the trainees during simulation training; and TASER, an OC spray and low-light training devices. It sells its simulators and related products through a direct sales force and distribution partners. The company was formerly known as VirTra Systems, Inc. and changed its name to VirTra, Inc. in October 2016. VirTra, Inc. was founded in 1993 and is headquartered in Chandler, Arizona.Show more

Revenue $26M -32.1%
EBITDA $3M -71.1%
Net Income $1M -85.1%
EPS (Diluted) 0.12 -84.4%
Gross Margin 73.67% +4.2%
EBITDA Margin 12.95% -57.5%
Operating Margin 7.58% -71.7%
Net Margin 5.18% -78.1%
ROE 3.06% -87.1%
ROIC 4.33% -82.5%
Debt/Equity 0.18 -10.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy 5Y average net margin of 10.8%
✓Trading at only 1.2x book value

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.33%

5Y7.09%

3Y2.55%

TTM-23.87%

Profit (Net Income) CAGR

10Y0.78%

5Y-

3Y-18.73%

TTM-110.1%

EPS CAGR

10Y-2.84%

5Y-

3Y-21.7%

TTM-110.3%

ROCE

10Y Avg14.98%

5Y Avg8.86%

3Y Avg10.23%

Latest3.62%

Peer Comparison

Flight Training & Simulation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VTSIVirTra, Inc.	56.28M	4.98	41.50	-32.07%	-2.42%	-1.25%		0.18
CAECAE Inc.	10.66B	33.15	26.10	9.93%	9.01%	8.44%	4.24%	0.70

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	13.34M	15.65M	16.52M	18.08M	18.71M	19.09M	24.43M	28.3M	38.79M	26.35M
Revenue Growth %	0.35%	0.17%	0.06%	0.09%	0.03%	0.02%	0.28%	0.16%	0.37%	-0.32%
Cost of Goods Sold+	5.65M	5.97M	6.29M	7.03M	9M	7.19M	13.03M	12.05M	11.38M	6.94M
COGS % of Revenue	0.42%	0.38%	0.38%	0.39%	0.48%	0.38%	0.53%	0.43%	0.29%	0.26%
Gross Profit+	7.69M	9.68M	10.23M	11.05M	9.71M	11.9M	11.41M	16.25M	27.41M	19.41M
Gross Margin %	0.58%	0.62%	0.62%	0.61%	0.52%	0.62%	0.47%	0.57%	0.71%	0.74%
Gross Profit Growth %	0.4%	0.26%	0.06%	0.08%	-0.12%	0.23%	-0.04%	0.43%	0.69%	-0.29%
Operating Expenses+	6.2M	7.56M	8.93M	10.05M	9.45M	10.67M	9.95M	13.66M	17.03M	17.42M
OpEx % of Revenue	0.46%	0.48%	0.54%	0.56%	0.51%	0.56%	0.41%	0.48%	0.44%	0.66%
Selling, General & Admin	6.2M	6.46M	7.64M	8.69M	8.11M	9.07M	8.09M	11.05M	14.24M	14.41M
SG&A % of Revenue	0.46%	0.41%	0.46%	0.48%	0.43%	0.48%	0.33%	0.39%	0.37%	0.55%
Research & Development	1.67M	1.1M	1.29M	1.36M	1.35M	1.6M	1.87M	2.61M	2.79M	3M
R&D % of Revenue	0.12%	0.07%	0.08%	0.08%	0.07%	0.08%	0.08%	0.09%	0.07%	0.11%
Other Operating Expenses	135.96K	26.45K	63.71K	0	0	0	0	0	0	0
Operating Income+	1.49M	2.13M	1.31M	999.9K	262.32K	1.23M	1.45M	2.59M	10.38M	2M
Operating Margin %	0.11%	0.14%	0.08%	0.06%	0.01%	0.06%	0.06%	0.09%	0.27%	0.08%
Operating Income Growth %	0.18%	0.43%	-0.39%	-0.23%	-0.74%	3.67%	0.19%	0.78%	3%	-0.81%
EBITDA+	1.68M	2.32M	1.58M	1.29M	854.25K	1.9M	2.04M	3.89M	11.81M	3.41M
EBITDA Margin %	0.13%	0.15%	0.1%	0.07%	0.05%	0.1%	0.08%	0.14%	0.3%	0.13%
EBITDA Growth %	0.15%	0.38%	-0.32%	-0.18%	-0.34%	1.23%	0.07%	0.91%	2.03%	-0.71%
D&A (Non-Cash Add-back)	184.85K	192.6K	270.88K	291.86K	591.94K	676.5K	589.06K	1.3M	1.42M	1.42M
EBIT	1.49M	2.13M	1.31M	999.9K	262.32K	1.23M	1.45M	2.59M	10.38M	2M
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	-	0	0
Interest Expense	0	0	0	0	0	0	0	-	0	0
Other Income/Expense	135.96K	26.45K	-549.53K	128.19K	109.13K	33.29K	1.33M	-66.17K	586.08K	254.64K
Pretax Income+	1.63M	2.15M	756.99K	1.13M	371.45K	1.26M	2.79M	2.53M	10.97M	2.25M
Pretax Margin %	0.12%	0.14%	0.05%	0.06%	0.02%	0.07%	0.11%	0.09%	0.28%	0.09%
Income Tax+	89.56K	102.75K	-2.51M	310K	446.73K	-218.8K	246.05K	571.64K	1.82M	887.29K
Effective Tax Rate %	0.94%	0.95%	4.31%	0.73%	-0.2%	1.17%	0.91%	0.77%	0.83%	0.61%
Net Income+	1.54M	2.05M	3.26M	818.09K	-75.28K	1.48M	2.54M	1.96M	9.15M	1.36M
Net Margin %	0.12%	0.13%	0.2%	0.05%	-0%	0.08%	0.1%	0.07%	0.24%	0.05%
Net Income Growth %	0.22%	0.33%	0.59%	-0.75%	-1.09%	20.64%	0.72%	-0.23%	3.68%	-0.85%
Net Income (Continuing)	1.54M	2.05M	3.26M	818.09K	-75.28K	1.48M	2.54M	1.96M	9.15M	1.36M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.19	0.26	0.41	0.10	-0.01	0.19	0.25	0.18	0.77	0.12
EPS Growth %	0.19%	0.37%	0.58%	-0.76%	-1.1%	-	0.32%	-0.28%	3.28%	-0.84%
EPS (Basic)	0.19	0.26	0.41	0.10	-0.01	0.19	0.25	0.18	0.77	0.12
Diluted Shares Outstanding	7.91M	7.93M	7.9M	8.25M	7.75M	7.84M	10.06M	10.87M	10.96M	11.16M
Basic Shares Outstanding	7.91M	7.92M	7.9M	7.9M	7.75M	7.76M	10.01M	10.86M	10.96M	11.16M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	6.62M	8.63M	10.09M	10.38M	11.53M	17.53M	33.51M	34.1M	49.74M	44.47M
Cash & Short-Term Investments	3.32M	3.7M	5.08M	5.99M	3.33M	6.84M	19.71M	13.48M	18.85M	18.04M
Cash Only	3.32M	3.7M	5.08M	2.5M	1.42M	6.84M	19.71M	13.48M	18.85M	18.04M
Short-Term Investments	0	0	0	3.49M	1.92M	0	0	0	0	0
Accounts Receivable	2.35M	3.35M	2.7M	2.4M	5.9M	6.79M	7.84M	10.49M	17.58M	10.58M
Days Sales Outstanding	64.18	78.17	59.64	48.47	114.99	129.78	117.16	135.27	165.43	146.49
Inventory	902.64K	1.32M	1.72M	1.61M	1.95M	3.52M	5.01M	9.59M	12.4M	14.58M
Days Inventory Outstanding	58.29	80.7	99.82	83.69	79.08	178.56	140.49	290.62	397.93	767.18
Other Current Assets	0	0	0	0	0	0	0	531.05K	906.8K	1.27M
Total Non-Current Assets+	652.58K	1.29M	4.76M	4.84M	5.93M	5.23M	16.07M	19.72M	20.64M	20.98M
Property, Plant & Equipment	516K	814.32K	677.27K	678.25K	2.42M	2.48M	13.65M	16.48M	16.2M	16.64M
Fixed Asset Turnover	25.86x	19.22x	24.40x	26.66x	7.74x	7.71x	1.79x	1.72x	2.39x	1.58x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	2.4M	217.93K	271.05K	535.08K	587.78K	567.54K	558.65K
Long-Term Investments	136.58K	471.93K	1.37M	1.12M	840K	86.5K	19.71K	0	0	0
Other Non-Current Assets	0	0	0	292.3K	662.06K	500.11K	189.73K	412.15K	237.36K	183.87K
Total Assets+	7.27M	9.91M	14.85M	15.22M	17.46M	22.75M	49.58M	53.81M	70.38M	65.45M
Asset Turnover	1.84x	1.58x	1.11x	1.19x	1.07x	0.84x	0.49x	0.53x	0.55x	0.40x
Asset Growth %	0.56%	0.36%	0.5%	0.02%	0.15%	0.3%	1.18%	0.09%	0.31%	-0.07%
Total Current Liabilities+	2.74M	3.36M	4.38M	3.61M	4.36M	7.26M	7.56M	9.76M	15.75M	9.65M
Accounts Payable	504.42K	467.68K	535.79K	429.95K	621.13K	345.57K	789.39K	1.25M	2.28M	957.38K
Days Payables Outstanding	32.57	28.59	31.09	22.32	25.2	17.55	22.11	37.91	73.22	50.36
Short-Term Debt	0	11.25K	11.25K	11.25K	0	266.04K	236.29K	232.54K	226.35K	230.79K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	242.28K	246K	243.57K	632.61K	0	772.88K	991.74K	1.92M	0	1.91M
Current Ratio	2.42x	2.57x	2.30x	2.87x	2.65x	2.41x	4.43x	3.49x	3.16x	4.61x
Quick Ratio	2.09x	2.18x	1.91x	2.43x	2.20x	1.93x	3.77x	2.51x	2.37x	3.10x
Cash Conversion Cycle	89.9	130.28	128.38	109.84	168.87	290.79	235.54	387.98	490.15	863.31
Total Non-Current Liabilities+	159.94K	144.63K	86.69K	1.01M	2.92M	3.84M	10.78M	10.38M	11.26M	10.12M
Long-Term Debt	0	22.5K	11.25K	0	0	1.06M	8.28M	8.05M	7.81M	7.57M
Capital Lease Obligations	159.94K	0	0	0	1.17M	853.15K	505.38K	720.02K	432.18K	265.11K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	122.13K	75.44K	46.52K	0	0	5.44K	0	0	0
Total Liabilities	2.9M	3.5M	4.46M	4.62M	7.28M	11.09M	18.35M	20.13M	27.01M	19.76M
Total Debt+	159.94K	33.75K	97.94K	11.25K	1.47M	2.5M	9.37M	9.56M	8.79M	8.26M
Net Debt	-3.16M	-3.67M	-4.98M	-2.49M	57.03K	-4.34M	-10.34M	-3.92M	-10.06M	-9.78M
Debt / Equity	0.04x	0.01x	0.01x	0.00x	0.14x	0.21x	0.30x	0.28x	0.20x	0.18x
Debt / EBITDA	0.10x	0.01x	0.06x	0.01x	1.72x	1.32x	4.59x	2.46x	0.74x	2.42x
Net Debt / EBITDA	-1.88x	-1.58x	-3.16x	-1.93x	0.07x	-2.28x	-5.06x	-1.01x	-0.85x	-2.87x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	4.37M	6.41M	10.39M	10.6M	10.18M	11.66M	31.23M	33.68M	43.37M	45.69M
Equity Growth %	0.61%	0.47%	0.62%	0.02%	-0.04%	0.15%	1.68%	0.08%	0.29%	0.05%
Book Value per Share	0.55	0.81	1.31	1.28	1.31	1.49	3.10	3.10	3.96	4.09
Total Shareholders' Equity	4.37M	6.41M	10.39M	10.6M	10.18M	11.66M	31.23M	33.68M	43.37M	45.69M
Common Stock	791.47K	1.59K	793	783	775	778	1.08K	1.09K	1.11K	1.13K
Retained Earnings	-9.77M	-7.72M	-4.46M	-3.64M	-3.71M	-2.24M	304.24K	2.26M	11.41M	12.77M
Treasury Stock	-2.98K	0	-112.11K	-37.31K	0	0	0	0	0	0
Accumulated OCI	-1.14M	-1.37M	-1.64M	-1.93M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.74M	1.75M	2.65M	1.83M	-1.43M	2.25M	-125.74K	-2.69M	6.68M	1.26M
Operating CF Margin %	0.13%	0.11%	0.16%	0.1%	-0.08%	0.12%	-0.01%	-0.1%	0.17%	0.05%
Operating CF Growth %	6.03%	0.01%	0.51%	-0.31%	-1.78%	2.57%	-1.06%	-20.42%	3.48%	-0.81%
Net Income	1.54M	2.05M	3.26M	818.09K	-75.28K	1.48M	2.54M	1.96M	9.15M	1.36M
Depreciation & Amortization	184.85K	192.6K	270.88K	291.86K	591.94K	676.5K	899.28K	1.3M	1.42M	1.42M
Stock-Based Compensation	118.33K	181.79K	167.47K	7.12K	38.35K	0	223.72K	456.17K	0	0
Deferred Taxes	0	0	613.24K	310.18K	608K	-100K	217.77K	-564.53K	-1.39M	34.58K
Other Non-Cash Items	-136.58K	344.82K	160.05K	-55.25K	-507.43K	1.13M	-1.33M	564.53K	791.15K	770.56K
Working Capital Changes	39.26K	-1.01M	-1.82M	456.07K	-2.09M	-940.38K	-2.68M	-6.4M	-3.29M	-2.33M
Change in Receivables	-735.76K	-898.71K	1.77M	-219.14K	-1.01M	-891.61K	-1.06M	-2.65M	-7.4M	7.17M
Change in Inventory	-199.81K	-417.3K	-400.49K	108.44K	-337.41K	-2.29M	-1.5M	-4.58M	-2.81M	-2.18M
Change in Payables	403.46K	-240.4K	92.93K	303.39K	-108.88K	394.19K	0	0	3.81M	-5.61M
Cash from Investing+	-332.95K	-830.33K	-133.83K	-3.78M	699.16K	1.85M	-3.74M	-3.34M	-1.13M	-1.85M
Capital Expenditures	-332.95K	-309.54K	-133.83K	-292.83K	-879.48K	-62.01K	-3.45M	-3.22M	-1.13M	-1.85M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.02%	0.05%	0%	0.14%	0.11%	0.03%	0.07%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-185.45K	0	-3.49M	-222.44K	0	-287.11K	-120.02K	0	0
Cash from Financing+	-5.6K	-537.99K	-1.14M	-625.31K	-352.1K	1.33M	16.73M	-190.42K	-188.18K	-220.71K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-537.99K	-1.02M	-232.13K	-22.65K	0	11.32K	40.84K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.41M	1.45M	2.52M	1.54M	-2.31M	2.25M	-3.86M	-6.03M	5.55M	-588.31K
FCF Margin %	0.11%	0.09%	0.15%	0.08%	-0.12%	0.12%	-0.16%	-0.21%	0.14%	-0.02%
FCF Growth %	4.16%	0.03%	0.74%	-0.39%	-2.51%	1.97%	-2.72%	-0.56%	1.92%	-1.11%
FCF per Share	0.18	0.18	0.32	0.19	-0.30	0.29	-0.38	-0.55	0.51	-0.05
FCF Conversion (FCF/Net Income)	1.13x	0.86x	0.81x	2.23x	19.03x	1.52x	-0.05x	-1.38x	0.73x	0.92x
Interest Paid	0	0	0	0	0	0	85.7K	128.51K	0	0
Taxes Paid	19.56K	102.75K	78K	10.07K	-161.28K	0	99.03K	108.78K	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	43.33%	38.03%	38.84%	7.8%	-0.72%	13.54%	11.85%	6.03%	23.75%	3.06%
Return on Invested Capital (ROIC)	105.51%	80.64%	24.06%	11.1%	2.14%	10.48%	7.73%	7.68%	24.7%	4.33%
Gross Margin	57.64%	61.86%	61.93%	61.12%	51.91%	62.35%	46.68%	57.43%	70.67%	73.67%
Net Margin	11.52%	13.1%	19.74%	4.52%	-0.4%	7.75%	10.4%	6.91%	23.59%	5.18%
Debt / Equity	0.04x	0.01x	0.01x	0.00x	0.14x	0.21x	0.30x	0.28x	0.20x	0.18x
FCF Conversion	1.13x	0.86x	0.81x	2.23x	19.03x	1.52x	-0.05x	-1.38x	0.73x	0.92x
Revenue Growth	35.32%	17.31%	5.57%	9.42%	3.49%	2.01%	28.01%	15.83%	37.06%	-32.07%

Revenue by Segment

	2024
Corporate	923.94K
Corporate Growth	-

Frequently Asked Questions

Valuation & Price

VirTra, Inc. (VTSI) has a price-to-earnings (P/E) ratio of 41.5x. This suggests investors expect higher future growth.

Growth & Financials

VirTra, Inc. (VTSI) reported $24.2M in revenue for fiscal year 2024. This represents a 208% increase from $7.9M in 2011.

VirTra, Inc. (VTSI) saw revenue decline by 32.1% over the past year.

VirTra, Inc. (VTSI) reported a net loss of $0.6M for fiscal year 2024.

Dividend & Returns

VirTra, Inc. (VTSI) has a return on equity (ROE) of 3.1%. This is below average, suggesting room for improvement.

VirTra, Inc. (VTSI) generated $1.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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