VirTra Q3 net income $1.3M; record backlog $21.7M; $24.5M DHS contract awarded

VirTra, Inc

2021-Q3 EPS reported $0.25 revenue$15,790,364

Net income of $1.3M ($0.12 diluted EPS) vs $0.9M ($0.11) in Q3 2020; includes $1.3M PPP loan forgiveness gain.
Q3 revenue $6.1M (-5% YoY); YTD revenue $15.8M (+26%). Backlog hit record $21.7M (+51% YoY).
Awarded $24.5M DHS IDIQ contract for CBP with $1.4M initial order; two international contracts totaling $2.7M.
Adjusted EBITDA $520K vs $1.6M in Q3 2020; gross margin 47.2% (down from 61.9%) due to inventory reserve scaling.
Cash and equivalents $21.5M; no guidance change. Manufacturing expansion with purchase of Chandler, AZ building.

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