VTSI

EX-99.1

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EX-99.1

Exhibit 99.1

VirTra Reports First Quarter 2026 Financial Results

CHANDLER,

Ariz. — May 11, 2026 — VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a global

provider of judgmental use-of-force and firearms training simulators, reported results for the first quarter ended March 31, 2026. The financial statements are available on VirTra’s website and here.

First Quarter 2026 and Recent Operational Highlights

●Bookings totaled $3.8 million in Q1 2026.

●Total backlog was $25.2 million at March 31, 2026.

●Demonstrated its next-generation Drone Defense Training System for corrections professionals as agencies prepare officers to detect, track, and respond to unauthorized drones attempting to breach facility perimeters or deliver contraband into secure environments.

●Advanced engagement across law enforcement, corrections, federal, and international markets, including increased activity tied to federal grant programs and customer procurement processes.

●Expanded engagement with U.S. military branches, including demonstrations with Army and Marine Corps groups.

●APEX

Data Reporting and Analytics Integration: A Milestone in Customer Engagement – The integration of APEX data analytics is positively impacting our customers, with successful demonstrations conducted for U.S. military groups and a recent international contract win, underscoring VirTra’s ability to deliver actionable training insights and enhance military simulation capabilities.

First Quarter 2026 Financial Highlights

For the Three Months Ended

All figures in millions, except per share data March 31, 2026 March 31, 2025 % Δ

Total Revenue $3.5 $7.2 -51%

Gross Profit $2.1 $5.2 -59%

Gross Margin 61% 73% N/A

Net Income (Loss) $(1.3) $1.3 N/A

Diluted EPS $(0.12) $0.11 N/A

Adjusted EBITDA $(0.9) $1.7 N/A

Management Commentary

VirTra CEO John Givens stated, “Since quarter-end, we have continued to see customer activity move forward across our core markets. Agencies are re-engaging as funding programs reopen, customers are working through grant applications and procurement steps, and our team is staying closely involved to help move these opportunities forward. While the timing of revenue conversion remains dependent on external funding and customer processes, the progression we are seeing today supports our expectation for improved sales momentum as we move through the second half of 2026.

“We are also seeing tangible progress from a more targeted commercial strategy. Over the past three months, qualified leads have approximately doubled, supported by improved lead capture, more focused customer segmentation, needs-based marketing campaigns, and a more disciplined process for moving prospects from initial interest into the sales pipeline. We continue to see interest in new capabilities such as drone defense training, advanced analytics, and portable simulation platforms, which expand the ways customers can apply VirTra’s technology.

“Across our target markets, customers are preparing for more dynamic threats, including emerging needs around drone defense and de-escalation, which come with a broader range of training requirements. VirTra’s role is to help them train more effectively, more consistently, and with better data, and we believe we are well-positioned as funding and procurement conditions continue to normalize.”

First Quarter 2026 Financial Results

Total revenue was $3.5 million, compared to $7.2 million in the prior year period. The decrease was due to a number of our Q3 and Q4 booking customers being unable to accept delivery in Q1 of 2026.

Gross profit was $2.1 million (61% of revenue), compared to $5.2 million (73% of revenue) in the prior year period.

Net operating expense was $3.5 million, compared to $3.8 million in the prior year period, maintaining disciplined cost management.

Loss from operations was $(1.3) million, compared to income from operations of $1.4 million in the prior year period.

Net loss was $(1.3) million, or $(0.12) per diluted share, compared to net income of $1.3 million, or $0.11 per diluted share, in the prior year period.

Adjusted EBITDA, a non-GAAP metric, was $(0.9) million, compared to $1.7 million in the prior year period.

Financial Commentary

VirTra CFO Alanna Boudreau stated, “Our first quarter results reflect continued revenue timing variability, particularly in capital system sales, as customers work through funding and procurement processes. During the quarter, Subscription Training Equipment Partnership (STEP) revenue represented a larger percentage of total revenue due to the lower level of capital system sales. STEP provides recurring revenue visibility and remains an attractive access model for agencies, though revenue from these agreements is recognized over the life of the contract, which can pressure reported gross margin in periods where STEP represents a larger share of revenue. We continued to manage expenses carefully while maintaining

EX-99.1

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EX-99.1

Exhibit 99.1

VirTra Reports Fourth Quarter and Full Year2025 Financial Results

CHANDLER,

Ariz. — March 26, 2026 —VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a

global provider of judgmental use-of-force and firearms training simulators, reported results for the fourth quarter and full year ended December 31, 2025. The financial statements are available on VirTra’s website and here.

Fourth Quarter 2025 and Recent Operational Highlights

●Bookings totaled $7.3 million in Q4 2025, bringing total bookings for 2025 to $26.7 million.

●Total backlog was $25.6 million at December 31, 2025.

●Demonstrated its next-generation Drone Defense Training System for corrections professionals as agencies prepare officers to detect, track, and respond to unauthorized drones attempting to breach facility perimeters or deliver contraband into secure environments.

●Gained early traction with the APEX data analytics platform integration, conducting multiple demonstrations for U.S. military groups and securing an international contract win, reinforcing VirTra’s ability to deliver actionable training insights and expand its military simulation capabilities.

●Introduced additional product offerings, including the V-One portable simulation platform, to address the needs of smaller agencies and mobile training environments, expanding accessibility of the Company’s solutions.

●Continued enhancement of the training ecosystem through integration of advanced analytics capabilities, enabling agencies to measure performance, assess decision-making, and support data-driven training outcomes.

●Expanded engagement with U.S. military branches, including demonstrations with Army and Marine Corps groups.

Fourth Quarter and Full Year 2025 Financial Highlights

For the Twelve Months Ended

All figures in millions, except per share data December 31, 2025 December 31, 2024* % Δ

Total Revenue $22.4 $26.4 -15%

Gross Profit $15.2 $19.4 -22%

Gross Margin 68% 74% N/A

Net Income (Loss) $0.3 $1.4 N/A

Diluted EPS $0.02 $0.12 N/A

Adjusted

EBITDA

$1.6 $2.9 -45%

*The column for the twelve months ended December 31, 2024 reflects restated financials.

Management Commentary

VirTra CEO John Givens stated, “Our fourth quarter and full year 2025 results reflect the impact of an extended and highly atypical federal funding disruption, which has affected the timing of awards, customer procurement, and system deliveries across our core markets throughout recent quarters. While these dynamics continued to weigh on revenue in Q4, underlying customer demand has remained intact, as reflected by our improvement in bookings and backlog growth to $25.6 million and strong engagement with law enforcement and defense agencies.

“In recent weeks, we have begun to see key federal grant programs, including the Justice Assistance Grant (JAG) Program and COPS funding, reopen and customers re-engage in the application process. Fiscal 2025 funding, originally approved in prior periods, is only now being released and applications are being accepted, reflecting the delays we have experienced. Behind this, additional funding cycles, including fiscal 2026 and expected fiscal 2027 allocations, are progressing, resulting in multiple funding cycles moving through the system concurrently and driving increased activity across our customer base.”

“We are proactively supporting customers as they move through the application, award, and procurement process. However, the timing of awards, purchase orders, and system deliveries remains dependent on external funding timelines and customer readiness, and we expect this process to play out over the next few quarters.

“While 2025 can be viewed as a transition year, the work we have done over the past twelve months to strengthen our sales organization, expand our product line, and deepen our relationships with key federal and international customers has positioned us well as the environment begins to normalize.

“We have taken steps to enhance our commercial execution, including expanding our federal sales coverage and strengthening our marketing capabilities, while continuing to invest in differentiating product offerings such as our advanced reporting and analytics platforms, which have contributed to recent customer wins. Importantly, we have aligned our operations and inventory to support rapid fulfillment as orders convert, with the ability to deliver systems on short timelines as customer funding is secured.

“Our disciplined financial approach has allowed us to preserve flexibility with a strong balance sheet. We are moving through 2026 with a clearer operational runway, and as funding conditions continue to normalize, our focus remains on converting backlog and pipeline activity into revenue.”

Full Year 2025 Financial Results

Total revenue for the year was $22.4 million, compared to $26.4 million (restated) in the prior year period. The 15% decrease was primarily due to decreased reven

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2025-11-10 2025-11-10

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 10, 2025

VIRTRA,

INC.

(Exact name of Registrant as Specified in Its Charter)

Nevada

001-38420

93-1207631

(State or Other Jurisdiction

(Commission

(IRS

Employer

of Incorporation)

File Number)

Identification No.)

295 E. Corporate Place

Chandler, AZ

85225

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (480) 968-1488

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

VTSI

NASDAQ

Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 10, 2025, VirTra, Inc. issued a press release announcing its financial results for the third quarter and nine months ended September 30, 2025. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the website is not a part of this Current Report on Form 8-K.

The information under this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press release of the registrant dated November 10, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

VIRTRA, INC.

Date: November 10, 2025 By: /s/ John F. Givens II

Name: John F. Givens II

Title: Chief Executive Officer