VirTra reports 28% revenue growth to $24.4M in FY2021; backlog record $23.1M; gross margin falls to 46.7%

VirTra, Inc

2022-Q2 EPS reported $0.13 revenue$14,750,611

Full-year 2021 revenue $24.4M (+28% YoY); bookings $32.9M (+44%); record backlog $23.1M (+58%).
Net income $2.5M ($0.25 diluted EPS) vs $1.5M ($0.19) in 2020; adjusted EBITDA $2.1M vs $2.8M.
Q4 2021 revenue $8.6M (+32% YoY) but net income only $13k; adjusted EBITDA loss of $220k.
Gross margin declined to 46.7% (FY) and 32.7% (Q4) due to lower-margin military contract and cost inflation.
Audited results delayed; expects to file Q1 2022 on Aug 11 and Q2 2022 on Aug 19, 2022.

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