VTSI - More info on VirTra Q2 earnings report

• VirTra ( NASDAQ: VTSI ) Q2 topline shows a 51% jump with revenue at $8M.
• Gross profit increased 51% to $4.7M, or 59% of total revenue.
• Net income increased to $787,000
• Adjusted EBITDA increased to $1.3M
• Backlog at June 30, 2022 of $16.5M vs. compared to $17M
• Working capital surplus totaled $27M, including unrestricted cash and cash equivalents of $15M.

• “Our deliveries are accelerating, allowing us to convert backlog into revenue and resulting in backlog decreasing from the first quarter 2022 to $16.5M. Additionally, our core law enforcement market tends to be seasonally stronger in the second half of the year so we remain optimistic regarding our sales pipeline and commercial opportunities, which provide us with significant growth opportunities. Complemented with a strong balance sheet that includes a $27M working capital surplus, VirTra remains well-positioned for continued success. Additionally, I would like to thank the entire VirTra team and our advisors for their dedication and hard work in getting our financial filing status back up-to-date.” said Bob Ferris, chairman and co-CEO.

• From the previous day: 'VirTra secures C$1.2M follow-on order from Canadian law enforcement agency '
• Wall street rating of Buy with 4.33 score and average price target of $12.
• Previously (Aug. 19): VirTra GAAP EPS of $0.07, revenue of $8M

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