VirTra Q1 Bookings $3.8M, Backlog $25.2M, Revenue Drops 51%
VirTra reported Q1 2026 bookings of $3.8M and backlog of $25.2M, while revenue plunged 51% to $3.5M, resulting in a $1.3M net loss and $0.8M adjusted EBITDA shortfall. The company unveiled its next-generation Drone Defense Training System and demonstrated APEX analytics integration for military and corrections customers.
1. Financial Results
VirTra posted Q1 revenue of $3.5M, down 51% from $7.2M year-over-year, with gross profit of $2.1M (61% margin). The company recorded a net loss of $1.3M, or $0.12 per share, and an adjusted EBITDA loss of $0.8M. Bookings reached $3.8M, lifting backlog to $25.2M at March 31, 2026.
2. Operational Highlights
During the quarter, VirTra showcased its next-generation Drone Defense Training System for corrections professionals and expanded engagement across law enforcement, corrections, federal and international markets. The integration of APEX data analytics led to successful demonstrations with Army and Marine Corps groups and supported a recent international contract win.
3. Management Outlook
Management noted that customer funding programs are reopening and qualified leads have doubled through targeted segmentation and needs-based campaigns. The company expects improved sales momentum in the second half of 2026 as procurement processes normalize and demand grows for advanced analytics, portable simulators and drone defense capabilities.