10-Q · May 11, 2026
VirTra reported significantly lower revenue and a net loss for Q1 2026, reflecting a severe downturn compared to the previous year. Revenue fell 51% year-over-year due to delays in customer deliveries and concentrated…
Earnings analysis · 10-Q
VTSI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
The provided 10-Q excerpt does not include the income statement, segment data, balance sheet, cash flow statement, or MD&A, so current-quarter revenue, margins, EPS, cash flow, and working-capital trends cannot be…
Read full summary
The provided 10-Q excerpt does not include the income statement, segment data, balance sheet, cash flow statement, or MD&A, so current-quarter revenue, margins, EPS, cash flow, and working-capital trends cannot be independently quantified. The principal disclosed issue is that controls remained ineffective as of June 30, 2026 because of 2 material weaknesses, with remediation continuing through 2026. The filing provides no quantitative forward guidance in the supplied text.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Control Remediation Is Underway
Management reported that disclosure controls and procedures were not effective as of June 30, 2026, due to 2 identified material weaknesses. The company is implementing more formal workflow review and documentation and increasing ERP training during 2026.
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No Material Legal Proceedings
The filing states there were no material pending legal proceedings as of the filing date, other than ordinary routine litigation incidental to the business.
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No Reported Equity Issuance
The company reported no unregistered sales of equity securities during the quarter ended June 30, 2026, limiting evidence of near-term equity dilution in the provided filing excerpt.
What to watch
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Material Internal-Control Weaknesses
Disclosure controls and procedures were not effective as of June 30, 2026, because of 2 material weaknesses: insufficient levels of management review and inadequate system and manual controls.
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Control Remediation May Take Time
Management stated the first material weakness is likely to continue until the company expands its staff with additional accounting and executive personnel and improves its accounting systems and procedures; the remediation effort extends through 2026.
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New Secured Financing Documentation
The filing includes a promissory note to UMB, a mortgage on the Orlando property, and an assignment of leases and rents, all dated May 15, 2026, indicating new or recently documented secured financing arrangements; principal amounts and terms were not included in the provided excerpt.
Management's outlook
The provided 10-Q excerpt contains no quantitative revenue or EPS outlook. Prior management commentary about improved sales momentum is not repeated in the provided filing text.
Earlier filings 4
10-K · March 26, 2026
VirTra describes a focused strategy to grow its core simulator business for law enforcement and military customers while broadening its product suite (including headset-based XR and AI-enabled features) and pursuing…
10-Q · November 10, 2025
VirTra Inc. reported disappointing results for Q3 2025, with total revenue of $5.35 million, down 28.4% from $7.48 million in Q3 2024. The company faced significant declines in both gross and operating margins, leading…
10-Q · August 11, 2025
VirTra reported Q2 revenue of $6,978,938, up $903,898 (14.9%) versus Q2 2024 ($6,075,040), but gross margin compressed to 69.0% from 90.9% a year ago and diluted EPS fell to $0.02 from $0.11. Operating income declined…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.