VirTra Inc. (VTSI) shares lost 5.09% in after-hours on Thursday, July 1, 2021, and closed the day at $7.27 per share. Earlier in the morning session, VTSI’s stock gained 3.93% to close Thursday’s session at $7.66 per share. VTSI shares have risen 113.37% over the last 12 months, and they have moved up 0.52% in the past week. Over the past three months, the stock has gained 37.52%, while over the past six months, it has lost 115.61%.
Let’s see is there any reason behind its loss in the after-market session?
Huge delivery order for VirTra
On June 24, 2021, the U.S. Department of Homeland Security for U.S. Customs and Border Protection (CBP) awarded an $800,000 delivery order under the five-year, single awardee indefinite-delivery/indefinite-quantity (IDIQ) contract.
VirTra will continue to provide CBP with video-based simulators and custom content for its training facilities. VirTra is expecting continued revenue from the IDIQ for the next two years, adding to a value of up to $5.0 million over the five-year IDIQ contract.
Participation in the recent conference
VirTra, Inc recently participated in the 2021 LD Micro Invitational XI, which held virtually on June 8-10.
The company was presented virtually by VirTra’s chairman and CEO, Bob Ferris.
Recent financial result announcement
On May 17, 2021, VirTra, Inc announced its financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- VirTra reported revenue of $4.4 million for Q1 2021 compared to $3.3 million in Q1 2020.
- The gross profit was $2.6 million in Q1 2021 compared to $1.6 million in the first quarter of 2020.
- Total operating expenses were $2.0 million in Q1 2021 compared to $2.1 million in Q1 2020.
- Net income for the first quarter of 2021 was $655,000 or $0.08 per diluted share compared to a net loss of $$389,000, or $(0.05) per diluted share, in the first quarter of 2020.
- Adjusted EBITDA was $751,000 in Q1 2021 compared to negative $326,000 in the first quarter of 2020.
Closing of $18.0 Million Registered Direct Offering
On April 05, 2021, VirTra, Inc closed its previously announced registered direct offering of three million shares of common stock at $6.00 per share, based on the Nasdaq Minimum Price rule. The company will get total gross proceeds of $18.0 million.
The VTSI stock performance on Thursday is a bit strange because there is no recent news or development which either could be linked with its gains or loss on Thursday. We hope that VTSI will finish the week on a positive note.