VirTra, Inc. announced its financial results for the first quarter ended March 31, 2025, on May 12, 2025. The company reported a net income of $1.3 million, or $0.11 per diluted share, a 170% increase from a restated $0.5 million, or $0.04 per diluted share, in Q1 2024. Operating income more than doubled to $1.4 million from $0.7 million in the prior year period, and Adjusted EBITDA grew 22% to $1.7 million.
Total revenue for the first quarter was $7.2 million, a 3% decrease from a restated $7.3 million in Q1 2024, primarily due to delayed deliveries of orders booked late in Q4 2024. Despite this, gross profit improved to $5.2 million, representing 73% of total revenue, up from 64% in Q1 2024, driven by a 25% decrease in cost of sales. Bookings for the quarter increased 120% year-over-year to $6.4 million.
VirTra re-entered the General Services Administration (GSA) procurement program in Q1 2025 with standardized product bundles to streamline purchasing for eligible agencies. The company also enhanced its Subscription Training Equipment Partnership (STEP) agreements to include full three-year commitments, converting previously uncertain renewals into reliable, recurring revenue streams. Demand for the V-XR platform is building, with the first delivery expected in Q2 2025, and the IVAS program continues with expanded recoil kit validation and reliability testing.
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