Company says funding and procurement timelines remain uncertain
VirTra sees healthy demand across domestic, international, and military markets
Company expects Orlando facility acquisition to support future financial performance
Overview
Firearms training simulator maker's Q2 revenue fell 17% yr/yr on lower domestic sales
Company posted Q2 net loss vs. net income a year earlier
Bookings rose and backlog reached $24.9 mln, with progress in the military market
Result drivers
Domestic sales weakness - Co said Q2 revenue decline was mainly due to lower domestic sales
International & military momentum - Co cited stronger bookings and increased activity in international and military markets, including U.S. Army Marketplace acceptance
Funding & procurement timing - Co said domestic funding availability and procurement timing continued to impact results
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for VirTra Inc is $6.25, about 89.4% above its August 12 closing price of $3.30
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