ztect
3 hours ago
Interesting PR this morning in that it points out quick penetration into a security market that I wasn't even aware Virtra was pursuing. This headset application of their content opened the door to this security market opportunity. This will also give them other opportunities in other sectors requiring better trained security personnel like, for example, the education sector at K-12 schools, colleges and universities. A better line of trained defense before better trained police arrive.
Because of the screens, belts, etc everyone thinks of Virtra as a hardware company, but they're really a content production company that can use that content across its various hardware platforms with additional accessories to heighten the realism of their scenarios.
The_Gman
6 hours ago
VirTra to Introduce V-XR Training Solution at IAHSS Exhibition, Signaling Increased Commitment to Healthcare Security Training
CHANDLER, Ariz. — April 29, 2024 — VirTra, Inc. (Nasdaq: VTSI) (“VirTra”), a global provider of judgmental use-of-force training simulators and firearms training simulators for the law enforcement and military markets, announced its participation at the International Association for Healthcare Security & Safety (IAHSS) Conference and Exhibition in Orlando from April 29 to May 1, 2024. As a first-time vendor, VirTra will introduce its new V-XR headset training solution at the event, highlighting its advanced functionality and ability to meet diverse training demands, particularly in healthcare settings.
The IAHSS Annual Conference and Exhibition is a key event for healthcare’s top security, safety, and emergency management leaders to network, meet with vendors, and find solutions for their challenges. This year, VirTra joins the expo to demonstrate the effectiveness of its new V-XR training solution, a compact, lightweight headset training simulator with a focus on de-escalation scenarios. The headset features hyper-realistic characters created using volumetric video capture and pass-through to reduce motion sickness for the user.
VirTra’s recent entry into the healthcare market began last month when it partnered with Ascension St. John Hospital (“Ascension”) to equip its team with advanced training simulators. VirTra’s V-180 was a practical application of Ascension’s grant funds.
Darrel Long, Director of Security for Ascension Oklahoma, noted the impact, stating, “We can implement frequent training in scenarios representing our environment. The V-180 is a tremendous asset and allows all security officers within the Ascension St. John Health System to ensure patient and associate safety.”
Ascension also reported the system’s success in a recent case study, available to download on VirTra’s website. The study highlights the simulator’s wide range of training scenarios and how it allows the entire staff, not just the security team, to practice skills that keep them safe.
As VirTra’s role in healthcare security expands, multiple other healthcare organizations have already adopted its technologies. Ohio Healthcare PD, TriHealth Cincinnati, Marion Hospital in Indiana, Indiana University Hospital, Health First Security in Florida, and several VA locations have begun training their teams using VirTra simulators.
John Givens, CEO of VirTra, stated, “Every day, medical providers around the country go beyond the call of duty for their patients. VirTra supports every initiative within our capabilities to ensure the security of hospital staff while on the job. With our V-XR training solution, we are not only enhancing safety in healthcare environments but also demonstrating its cross-market functionality, allowing us to begin expansion beyond our core law enforcement and military markets. I’m confident that the training provided by our simulators will instill a renewed sense of safety among hospital staff, patients, and their visitors.”
VirTra’s entry into healthcare security coincides with an increase in unruly and sometimes violent behavior directed at healthcare providers. A 2022 report from the American College of Emergency Physicians revealed a significant increase in healthcare violence, with 55% of physicians surveyed saying they had been physically assaulted while at work. With the increased demand for hospital security, VirTra is stepping up to provide advanced use-of-force, de-escalation, and other forms of simulator-based training to its healthcare partners.
The_Gman
5 days ago
The Top Manufacturing Stocks to Buy in April 2024
Strong buy industrials that offer great returns
22h ago · By Noah Bolton, InvestorPlace Contributor
These are a number of manufacturing companies that investors should keep an eye on.
-Limbach Holdings (LMB): Recently beat analyst expectations for earnings and is still trading at a fair valuation.
-VirTra (VTSI): A small-cap company that has experienced impressive growth.
-General Electric (GE): A robust business model that has seen growth within its aerospace and defense segment.
VirTra (NASDAQ:VTSI) is a simulation equipment manufacturer that provides training technology primarily for the military, law enforcement, and other commercial customers. It offers virtual simulation equipment with varying degrees of wrap-around screens and virtual reality headsets.
On April 1, VTSI reported earnings for the fourth quarter full year 2023, in which it stated that total revenue increased by 34% and net income more than quadrupled to over $8 million.
Following this earnings report, the increase in overall revenue, gross profit, and net income sent shares of VTSI skyrocketing by over 40%. Its management also stated that the overall growth in profits was led by operational changes like streamlining its manufacturing facility.
On April 18, VirTra announced that it received a prototype contract to create an augmented reality program for the U.S. Army, for which Microsoft (NASDAQ:MSFT) was the primary contractor.
VTSI is a rapidly growing small-cap company that offers investors increased upside potential due to its strong earnings growth and share price appreciation.
https://investorplace.com/2024/04/the-top-manufacturing-stocks-to-buy-in-april-2024/
Any little bit helps!
The_Gman
7 days ago
VBS4 and VR/XR related industry news
Crowd Simulation Training Integrated with VBS4
https://www.halldale.com/articles/22669-mst-crowd-simulation-training-integrated-with-vbs4
Roland Geraerts, CEO of uCrowds, said “This is our first product integration with a military training simulation, and we are very happy with the results”.
uCrowds offers VBS4 users the ability to quickly generate crowds and control their behavior, either through the SimCrowds application or directly in VBS4. For training, this means that tactical simulations can incorporate massive numbers of civilians that will behave in a believable manner, such as queuing, fleeing, and stadium evacuations, depending on the type of scenario.
VR/XR To The Fore At Immersive Tech Summit
https://www.halldale.com/articles/22655-cat-vr-xr-to-the-fore-at-immersive-tech-summit
"Anything difficult or dangerous to perform on real equipment, whether for operators or potential clients, necessitates simulation and training, hence the integration of VR and AR," Andy explained to The Orlando Life publication.
Adrnaln
2 weeks ago
Given’s wording seems very careful around today’s contract being part of a [IVAS/MS] “series of contracts”. It’s hard to know if the $3M downpayment contract is of the same “Series,” or not….
John Givens, CEO of VirTra, stated, “This additional prototype contract award, in support of the IVAS program, is a testament to the reliability and performance of our technology. This series of awards has implemented new features and tuned our design to meet the rigorous requirements of the program. Our enhanced production capabilities and investment in new technologies have solidified our contract execution by improving quality and capacity.”
It is safe to say the $3M downpayment is for a large contract, perhaps to front purchasing funds and resources/capacity for a large volume order. Capacity of what though - could be IVAS related or something else. And is the downpayment 1%, 5%, 10% or 20% of the total contract value?
Regardless, the answers are all positive for us all.
gbb777
2 weeks ago
VirTra Awarded $5.9M Prototype Contract from U.S. Army IVAS Prime Contractor Microsoft
CHANDLER, Ariz., April 18, 2024 (GLOBE NEWSWIRE) -- VirTra, Inc. (Nasdaq: VTSI) (“VirTra” or the “Company”), a global provider of judgmental use of force training simulators, firearms training simulators for the law enforcement and military markets, today announced a $5.9 million order for prototypes to support the U.S. Army’s Integrated Visual Augmentation System (“IVAS”) program. This order represents an important continuation in VirTra’s engagement with the IVAS program. VirTra will recognize revenue in three phases with reliability testing, soldier assessment, and final hardware deliveries, all scheduled in 2024.
The order includes bolt kits and magazines and high-pressure air fill stations for the IVAS program specifications with Microsoft as the prime contractor. In its role as the prime contractor, Microsoft ensures cohesive project delivery, integrating VirTra’s training hardware with the objectives of the IVAS program. The recoil hardware has been engineered with a focus on intense environmental conditions, performance and reliability. To achieve uninterrupted and realistic recoil feedback, the fill stations utilize high-pressure air (HPA) technology reaching 3,000 psi. The hardware has been engineered for a realistic training experience for our military personnel.
John Givens, CEO of VirTra, stated, “This additional prototype contract award, in support of the IVAS program, is a testament to the reliability and performance of our technology. This series of awards has implemented new features and tuned our design to meet the rigorous requirements of the program. Our enhanced production capabilities and investment in new technologies have solidified our contract execution by improving quality and capacity.”
Over the past two years, VirTra has significantly expanded its production capacity and improved operating efficiencies, while refining its hardware designs. These advancements highlight the Company’s readiness for mass production and commitment to fulfilling the U.S. Army’s expanding needs. In support of this effort, Microsoft has scheduled on-location Soldier Assessments at Fort Belvoir, Virginia, in 2024.
The U.S. Army’s requirements highlight the industry’s shift towards more advanced and immersive training experiences for servicemembers. VirTra’s recoil hardware will provide enhanced training capabilities and readiness to support improved standards for military training and set the stage for future advancements in defense technology.
For more information about VirTra’s advanced recoil kits and other innovative training solutions, please visit VirTra’s website: https://www.virtra.com/tool/military-recoil-kits/
About Integrated Visual Augmentation System (“IVAS”) Program
The Integrated Visual Augmentation System (IVAS) provides a single platform that allows the Soldier to Fight, Rehearse, and Train. It leverages tactical Mixed Reality to increase the Warfighter’s battlefield awareness and ability to rapidly identify potential threats and take decisive action. The IVAS enables tactical planning, networked information sharing, and an augmented reality Synthetic Training Environment (STE) that will enable Warfighters to fight 25 “bloodless battles” before engaging the enemy.
The Army is developing IVAS to respond to an erosion in close combat capability relative to pacing threats identified in the 2018 National Defense Strategy via a Middle Tier Acquisition (MTA) Rapid Prototype pathway. IVAS integrates next generation 24/7 situational awareness tools and high-resolution simulations to deliver a single platform that improves Soldier sensing, decision making, target acquisition, and target engagement. These capabilities will provide the increased lethality, mobility, and situational awareness necessary to achieve overmatch against our current and future adversaries.
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