Home Top Movers Why VirTra (VTSI) Stock Is SO HOT Right Now?

Why VirTra (VTSI) Stock Is SO HOT Right Now?

VirTra Inc. (VTSI) stock has been on an upward trajectory in premarket trading today. Pre-opening, VirTra stock has soared 50.42% to $7.19 just before the start of regular trading. Yesterday’s financial results have been lifting the share price of VTSI stock today.

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What are the financial results saying?

For law enforcement, military, education, industrial, and commercial markets, VirTra (NASDAQ: VTSI) manufactures judgmental use of force training simulators, firearms training simulators, and driving simulators. With its patented software and technologies, VTSI training programs simulate real-world de-escalation, judgmental use-of-force, marksmanship, and related training scenarios.

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After close of the market on Monday, VirTra announced its quarterly and annual results for the period ended December 31, 2020.

Fourth Quarter 2020 Financial Results:

  • A higher ability to ship equipment to a greater number of customers is thought to have contributed to an increase of 11% in total revenue, from $5.9 million in the fourth quarter of 2019 to $6.6 million in Q4 2020.
  • Gross profit rose from $2.6 million to $4.8 million (72.5% of total revenue) in the fourth quarter thanks to differing quantities and types of simulators, accessory types, and the types of services sold, in addition to a decrease in the cost of sales.
  • Operating income for the fourth quarter of 2019 was $360,000 compared with $1.3 million for the current quarter.
  • The net income for the fourth quarter of 2020 equaled $1.6 million, or $0.21 per diluted share, versus a loss of $66,000, or $(0.01) per diluted share, during the prior year’s same period.

Full Year 2020 Financial Results:

  • Sales of simulators and accessories, curriculum and training, and recurring warranty revenue in 2020 boosted total revenue by 2% to $19.1 million from $18.7 million.
  • Gross profit increased 23% from $9.7 million in 2019 to $11.9 million in 2020, representing 62.3% of total revenue, mainly as a consequence of higher sales volume, better product mix, and lower costs resulting from lower travel and fewer tradeshows due to COVID-19.

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  • Operating income for 2020 was $1.2 million, up from $262,000 for 2019.
  • The net income in 2020totaled $0.19 per diluted share, compared to a loss of $75,000 in 2019, or $0.01 per share.

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