VTSINasdaqMiscellaneous Manufacturing IndustriesUS GAAP · USD

VirTra, Inc

VirTra, Inc. designs and sells firearms training simulators and related use-of-force training systems for law enforcement, military, and other security-focused organizations. Its products combine immersive video scenarios, marksmanship training, and instructor tools to support decision-making and tactical training in controlled environments.

Revenue22.4m USD
−15.0 %y/y
Operating profit (EBIT)0.4m USD
−78.1 %y/y
EBIT margin2.0%
−5.6 ppy/y
Net income-0.8m USD
−158.1 %y/y
Free cash flow3.1m USD
+622.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

010203040m USD2020: 19 m USD2020: EBIT 1.2 m USD20202021: 24 m USD2021: EBIT 1.5 m USD20212022: 28 m USD2022: EBIT 2.6 m USD20222023: 38 m USD2023: EBIT 9.6 m USD20232024: 26 m USD2024: EBIT 2.0 m USD20242025: 22 m USD2025: EBIT 0.44 m USD2025220.44
RevenueOperating profit (EBIT)

Business

Share of revenue
Training simulators60 %

Immersive simulator hardware and software used for firearms and tactical training.

Scenario content and software20 %

Interactive training scenarios, control software, and performance tools.

Accessories and peripherals10 %

Supporting equipment, components, and add-ons used with simulator systems.

Services and support10 %

Installation, training, maintenance, and customer support for deployed systems.

Products

Reported · share of revenue
53.7%18.7%17.1%FY2025100 %
  • Simulators and Accessories53.7 %
  • Subscription Training Equipment Partnership18.7 %
  • Extended Servicetype Warranties17.1 %
  • Design Prototyping5.8 %
  • Installation and Training3.9 %
  • Customized Software and Content0.8 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

VirTra sells primarily to public safety and defense customers that need repeatable, realistic training for high-stakes encounters. Buyers typically include police departments, sheriff's offices, military units, correctional agencies, and security organizations that use simulators to train judgment, accuracy, and escalation/de-escalation skills.

Law enforcement agencies

Police, sheriff, and public safety departments buy simulator systems for firearms qualification, scenario-based judgment training, and use-of-force decision practice.

Military and defense organizations

Military units and related defense customers buy training platforms for tactical readiness and controlled engagement exercises.

Correctional and security agencies

Correctional facilities and security organizations buy training tools to prepare staff for confrontation management and safety procedures.

Training academies and instructors

Academies and training providers buy systems to standardize instruction and evaluate trainee performance.

Strategy

VirTra's strategy centers on expanding adoption of immersive training systems that replicate real-world decision-making and firearms handling. The company also depends on maintaining a library of relevant scenarios and supporting software so customers can keep training content current and operationally useful.

Grow installed base in public safety and defenseMedium term

Recurring customer relationships and installed systems can support follow-on sales and upgrades.

Enhance scenario realism and training breadthMedium term

More realistic content improves training value and helps differentiate the platform.

Strengthen service and support around deployed systemsShort term

Installation, training, and maintenance help protect customer relationships and system utilization.

Geography

Q1/2026

VirTra is a U.S.-based company with sales centered on domestic public safety and defense markets. Its business can also extend to international customers through direct sales and channel relationships, but the core operating exposure is tied to North American procurement cycles and public-sector budgets.

Other countries (US filing)100 %

Risks

VirTra depends on public-sector purchasing decisions, so revenue can be affected by budget timing, procurement delays, and changes in agency spending priorities. The business also faces product-development and technology risk because training customers expect realistic, reliable systems and updated scenario content. As a manufacturer of specialized equipment, it is also exposed to competition, contract concentration, and execution risk on installations and customer support.

Sorted by severity
Public-sector budget and procurement riskHigh

Customers buy through agency budgets and tender processes, which can shift timing and demand.

Exposure: Law enforcement and defense sales

Product relevance and technology obsolescenceMedium

Simulator buyers expect realistic scenarios and updated training content.

ExposureHardwareSoftwareScenario libraries
Customer concentrationMedium

A limited number of large agency or defense orders can influence period-to-period results.

Exposure: Large public-sector contracts

Execution risk on installation and supportMedium

Complex deployments require proper setup, training, and maintenance to preserve value.

Exposure: Deployed simulator systems

Accounting

Judgemental items
Revenue recognition for bundled simulator contracts

Systems may include hardware, software, training, and support components that are recognized at different times.

Impact: Can shift revenue between quarters and affect deferred revenue balances

Deferred revenue and contract liabilities

Support, content updates, or service obligations may be billed before they are fully delivered.

Impact: Affects timing of reported revenue and future revenue visibility

Inventory valuation and warranty estimates

Specialized manufactured equipment can require judgment on obsolescence and warranty obligations.

Impact: Can influence cost of sales and reported gross margin

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

VirTra, Inc (VTSI) Revenue, Earnings & Financials 2025 – Clarifo