Monitor federal grant award timelines and backlog conversion rates in upcoming quarters; improved funding flow could drive revenue rebound despite current decline. The stock may react positively to signs of order fulfillment acceleration.
Price Chart
Executive Summary
VirTra reported full-year 2025 revenue of $22.4 million, down 15% YoY, with net income declining to $0.3 million from $1.4 million in 2024. Despite declining financials, bookings improved to $26.7 million and backlog reached $25.6 million, signaling recovery potential as federal funding disruptions ease. Management cites normalization in government grant funding as a catalyst for future revenue conversion.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $22.4 million, down 15% from $26.4 million in 2024 (restated).
- Net income dropped to $0.3 million ($0.02 EPS) from $1.4 million ($0.12 EPS) in the prior year.
- Adjusted EBITDA fell 45% to $1.6 million.
- Bookings totaled $26.7 million for 2025, with Q4 alone at $7.3 million.
- Backlog reached $25.6 million as of December 31, 2025.
- Cash balance increased to $18.6 million from $18.0 million year-ago.
- Management attributes decline to federal funding delays, now beginning to resolve.
Financial Impact
Revenue down $4M YoY, net income down $1.1M; however, strong backlog suggests revenue recovery possible in 2026.
Risk Factors
- Revenue and earnings continue to decline, indicating ongoing execution risk.
- Heavy reliance on government funding creates timing and unpredictability risk.
- Gross margin compressed from 74% to 68%, pressuring profitability.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3263406 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | Press Release | $2.76 | awaiting T+60 | — | $2.67 (−3.26%) |
Aug 3, 2026 12w ago | Press Release | $3.06 $2.69 | ▼ −12.09% | ▼ −13.87% | $2.67 (−12.75%) |
Jun 11, 2026 19w ago | Institutional Cluster | $3.41 $3.09 | ▲ +9.38% | ▲ +13.78% | $2.67 (+21.70%) |
May 11, 2026 24w ago | 8-K | $3.48 $3.07 | ▲ +11.78% | ▲ +16.17% | $2.67 (+23.28%) |
May 11, 2026 24w ago | Press Release | $3.48 $3.07 | ▲ +11.78% | ▲ +16.17% | $2.67 (+23.28%) |
Mar 26, 2026 30w ago | Press Release | $3.74 $3.17 | ▼ −15.13% | ▼ −31.19% | $2.67 (−28.51%) |
Mar 12, 2026 32w ago | Press Release | $4.29 $3.35 | ▼ −21.91% | ▼ −33.53% | $2.67 (−37.76%) |
US Market Status
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