VirTra Q1 revenue falls as customers delay deliveries

Virtra

11/05/2026 21:30

Overview

Use-of-force simulator maker's Q1 revenue fell 51% yr/yr as customers delayed deliveries

Company posted Q1 net loss of $1.3 mln, down from net income a year ago

Adjusted EBITDA swung to a loss as recurring STEP revenue made up a larger share

Outlook

VirTra expects improved sales momentum in the second half of 2026

Company says revenue timing remains dependent on external funding and procurement processes

VirTra sees increased customer activity as funding programs reopen and procurement steps progress

Result Drivers

DELIVERY DELAYS - Co said Q1 revenue decline was due to Q3 and Q4 booking customers being unable to accept delivery in Q1 2026

REVENUE MIX SHIFT - STEP subscription revenue made up a larger share of total revenue, which is recognized over contract life and can pressure gross margin, per CFO

REVENUE TIMING VARIABILITY - Co cited continued variability in revenue timing as customers worked through funding and procurement processes

Company press release: ID:nGNX9tCRFb

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$3.50 mln
$2.73 mln (2 Analysts)
Q1 EPS
-$0.12
Q1 Net Income
-$1.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for VirTra Inc is $6.25, about 48.8% above its May 8 closing price of $4.20

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)