From GlobeNewswire: 2024-04-02 06:00:00

VirTra Inc. (Nasdaq: VTSI) reports record annual revenue of $38.0 million, marking a 34% increase over the previous year. Net income also rises to $8.4 million in 2023. Adjusted EBITDA for the fourth quarter is corrected to $2.2 million, with a total revenue increase of 17% year-over-year to $10.1 million. The financial statements are available on the company’s website. Gross profit increased to 58% year-over-year to $8.4 million, representing 83% of total revenue. Total cash and cash equivalents at the end of 2023 are $18.9 million. The CEO, John Givens, highlights substantial transformation and strong performance in 2023, attributing success to strategic changes in operations. Improvements in sales strategies, including the introduction of the V-XR extended reality training platform, are expected to further drive interest from law enforcement and military sectors. Continued growth is anticipated for 2024. Adjusted EBITDA for the full year 2023 increased to $11.6 million from $4.0 million in 2022. VirTra CFO Alanna Boudreau notes improvements in revenue growth, profitability metrics, and internal operations, anticipating expansion into additional markets in 2024. Management will host a conference call on April 1, 2024, to discuss these results. Conference call details and replay information are available on the company’s website.



Read more at GlobeNewswire:: VirTra Reports Fourth Quarter and Full Year 2023 Financial