---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017404"
form_type: "8-K"
ticker: "VTSI"
cik: "0001085243"
company_name: "VirTra, Inc"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:33:16.848103+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# VirTra reports record Q1 revenue of $10M, net income of $2.9M, up 411% YoY

## Summary
- Revenue $10.0M (record), up 48% YoY; gross profit $6.9M (69.3% margin) vs $3.7M (54.6%).
- Net income $2.9M ($0.27 diluted EPS) vs $0.6M ($0.05) YoY, up 411%.
- Adjusted EBITDA $4.0M, up from $1.0M; cash $14.3M at quarter end.
- Driven by deliveries of two major government contracts and one large international contract.
- Management cites improved operational efficiency and record backlog execution.

## SEC filing metadata
- accession: 0001493152-23-017404
- form_type: 8-K
- ticker: VTSI
- cik: 0001085243
- company_name: VirTra, Inc
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1085243/000149315223017404/0001493152-23-017404-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1085243/000149315223017404/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017404
- JSON: https://secwatch.observer/filing/0001493152-23-017404.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017404.txt

## Key facts
- Earnings Releases
  VirTra, Inc reported first quarter ended March 31, 2023 results: revenue $10.0 million, net income $2.9 million, EPS $0.27 per diluted share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $10.0 million
  - Net income: $2.9 million
  - EPS: $0.27 per diluted share
  - Result: reported results
  source text: Total revenue increased 48% to $10.0 million from $6.8 million in the first quarter of 2022. The increase in revenue was the result of the deliveries of two major government contracts and one large international contract. Gross profit increased 88% to $6.9 million from $3.7 million in the first quarter of 2022. Gross profit margin, defined as total revenue less cost of sales, was 69.3%, an improvement compared to 54.6% in the first quarter of 2022. The increase in gross profit was primarily due to the increased sales achieved while maintaining cost of sales in line with 2022 levels. The increased gross margins resulted from the favorable product mix of systems, accessories and services sold in the quarter. Net operating expense was $3.5 million, compared to $3.0 million in the first quarter of 2022. The increase in net operating expenses was due to increased R&D expenses, additional costs related to the Orlando facility, and one-time costs in payroll and related expenses. Operating inc
  evidence_url: https://www.sec.gov/Archives/edgar/data/1085243/000149315223017404/0001493152-23-017404-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.