VirTra, Inc. released its financial results for the fourth quarter and full year ended December 31, 2024, on March 27, 2025. Total revenue for Q4 2024 was $5.4 million, a decrease from $10.9 million in the prior year period, primarily due to federal budget delays and grant disbursement pauses. For the full year 2024, total revenue was $26.4 million, down from a restated $38.8 million in 2023, reflecting the impact of budget delays and slower order conversion.
The company reported a net loss of $(0.9) million, or $(0.08) per diluted share, for Q4 2024, compared to a net income of $3.5 million, or $0.32 per diluted share, in Q4 2023. Full-year 2024 net income was $1.4 million, or $0.12 per diluted share, a significant decrease from a restated $9.2 million, or $0.85 per diluted share, in 2023. Gross profit for the full year improved to 74% from 71% in 2023, driven by product mix and operational efficiencies, despite a Q4 gross profit decline to 69%.
Despite the revenue and net income declines, VirTra reported strong bookings momentum in Q4 2024, growing 37% sequentially to $12.2 million, and an expanded year-end backlog of $22.0 million. The company also completed the final development phase of the U.S. Army’s IVAS program 42 days ahead of schedule and is leveraging AI to reduce video editing time for content creation. Management acknowledged continued variability in federal funding cycles but emphasized strategic positioning and operational efficiency for 2025.
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