Q2 2026 VirTra Inc Earnings Call Transcript
Key Points
- Improved revenue conversion in Q2 2026, with revenue increasing to $5.8 million from $3.5 million in Q1 2026.
- Bookings increased to $5.5 million in Q2 2026, up from $3.8 million in Q1 2026, driven by renewed federal activity and contributions across domestic territories.
- Backlog remained strong at approximately $24.9 million, providing a solid foundation for future revenue.
- International revenue grew to $2.2 million in Q2 2026, up from $1.4 million in the prior year period, reflecting improved contributions from international deliveries.
- Achieved acceptance into the US Army's marketplace across three sections (weapons skills development, joint fires training, and counter-UAS), enhancing military market positioning.
- Acquired the Orlando campus, strategically located in a premier defense and simulation ecosystem, which is expected to strengthen military collaboration and include tenant leases that contribute positively to financial performance.
- Produced approximately 10 new training scenarios during the quarter, significantly above historical levels, expanding platform value and supporting future bookings.
- Multiple grant programs have reopened, and customers are actively submitting applications, indicating progress in the funding environment.
- Maintained disciplined expense management, with net operating expenses decreasing to $3.6 million in Q2 2026 from $3.9 million in the prior year period.
- Adjusted EBITDA turned positive at $0.4 million in Q2 2026, compared to a negative $0.4 million in the first half of 2026.
- Total revenue decreased to $5.8 million in Q2 2026 from $7.0 million in the prior year period, reflecting delayed customer funding and procurement timelines.
- Gross margin declined to 59% in Q2 2026 from 69% in the prior year period, impacted by lower revenue volume and ongoing investments in content production.
- Net loss of $0.3 million in Q2 2026, compared to net income of $0.2 million in the prior year period.
- Cash and cash equivalents decreased to $14.3 million as of June 30, 2026, from $18.6 million at December 31, 2025, due to inventory investments and the Orlando facility acquisition.
- Operating loss of $0.2 million in Q2 2026, compared to operating income of $2.2 million in the prior year period.
- International revenue remains lumpy and unpredictable due to long procurement cycles and geopolitical factors, making consistency challenging.
- The funding environment continues to be a major variable, with customer funding and procurement timing outside the company's control affecting near-term performance.
- Military opportunities involve lengthy procurement cycles, and the timing and magnitude of resulting opportunities from the US Army marketplace acceptance are uncertain.
- The company's investments in content production and product development have pressured gross margins, which may continue in the near term.
- Backlog conversion is dependent on customer acceptance and installation schedules, which can cause revenue recognition delays.
Good afternoon, and welcome to BERTRA's second quarter, 2026, Earnings and Profits conference call. My name is Drew and I will be your operator for today's call. Joining us for today's presentation are the company's CEO John Givens and CFO Alana Ujwala. Following their remarks, we will open the call for questions.
Before we begin the call, I would like to provide Bertra's safe harbor statement that include cautions regarding forward-looking statements made during this call. During this presentation, management may discuss financial projections, information, and other or expectations about the company's products and services or markets or otherwise make statements about the future which are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. The company does not undertake any obligation to update them as by law.
Finally, I'd like to remind everyone that this call will be made available for replay via a link in the investor relations section on the company's website at
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
