Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
VirTra, Inc reported the nine months ended September 30, 2022 results: revenue $19.7 million, net income $562,000, EPS $0.05 per diluted share.
- Period
- the nine months ended September 30, 2022
- Revenue
- $19.7 million
- Net income
- $562,000
- EPS
- $0.05 per diluted share
- Result
- reported results
Exact text from the filing
Total revenue increased 24% to $19.7 million from $15.8 million for the first nine months of 2021. The increase in sales for the nine months ended September 30, 2022 resulted from an increase in the number of simulators and accessories completed, delivered and revenue recognized compared to the same periods in 2021. Gross profit increased 28% to $10.9 million from $8.6 million for the first nine months of 2021. The increase in gross profit was due to the product mix of systems, accessories and services sold. Gross profit margin was 56%, an increase compared to 54% for the first nine months of 2021. Net operating expense was $10.3 million, compared to $6.9 million for the first nine months of 2021. The increase was primarily due to expenses related to the move into the new building, Orlando location, and increased payroll costs. Operating income was $681,000, a decrease compared to an operating income of $1.7 million for the first nine months of 2021. Net income totaled $562,000, or $0.
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
VirTra, Inc reported the third quarter ended September 30, 2022 results: revenue $4.9 million, net income ($803,000), EPS ($0.07) per diluted share.
- Period
- the third quarter ended September 30, 2022
- Revenue
- $4.9 million
- Net income
- ($803,000)
- EPS
- ($0.07) per diluted share
- Result
- reported results
Exact text from the filing
Total revenue decreased 20% to $4.9 million from $6.1 million in the third quarter of 2022. The decrease in revenues for the three months ended September 30, 2022 as compared to the same period in the prior year is due to unbilled sales not yet being recognized. Gross profit decreased 12% to $2.5 million from $2.9 million in the third quarter of 2021. The decrease in gross profit was due primarily to lower revenue. Gross profit margin was 51%, an increase compared to 47% in the third quarter of 2021. Net operating expense was $3.6 million, compared to $2.6 million in the third quarter of 2021. The increase was primarily due to expenses related to the move into the new building, Orlando location, and increased payroll costs. Loss from operations totaled ($1.1 million) compared to income from operations of $266,000 in the third quarter of 2021. Net loss totaled ($803,000), or ($0.07) per diluted share (based on 10.9 million weighted average diluted shares outstanding), a decrease compare
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