Previous session saw VirTra, Inc. (NASDAQ: VTSI) stock at a significant uptick of 17.67% concluding the trading at $13.25 per share. This notable surge in VirTra’s stock value can be directly attributed to the acquisition of a substantial contract.
VirTra (VTSI) unveiled a procurement worth $5.9 million designated for prototypes aimed at bolstering the U.S. Army’s Integrated Visual Augmentation System (“IVAS”) initiative. This procurement marks a pivotal continuation of VirTra’s involvement in the IVAS program. Revenue recognition by VirTra will occur in three stages, commencing with reliability testing, followed by soldier assessment, and culminating in the final hardware deliveries, all slated for the year 2024.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Included in the order are bolt kits, magazines, and high-pressure air fill stations designed to meet the specifications of the IVAS program, with Microsoft serving as the principal contractor. Assuming the role of prime contractor, Microsoft ensures seamless project execution by integrating VirTra’s training hardware with the objectives of the IVAS program.
The recoil hardware has been meticulously engineered to withstand harsh environmental conditions while prioritizing performance and reliability. To ensure uninterrupted and lifelike recoil feedback, the fill stations employ high-pressure air (HPA) technology capable of reaching pressures of up to 3,000 psi.
These hardware specifications are tailored to provide an authentic training experience for military personnel. The additional contract awarded for prototypes in support of the IVAS program stands as a testament to the dependability and efficacy of VirTra’s technology. These series of accolades have facilitated the incorporation of new features and refinements to our design, aligning with the stringent requirements of the program.
VirTra’s bolstered production capabilities and investments in cutting-edge technologies have fortified our ability to execute contracts by enhancing quality and capacity. Over the past couple of years, VirTra has significantly expanded its production capacity, optimized operating efficiencies, and fine-tuned its hardware designs.
VirTra’s advancements underscore its readiness for large-scale production and dedication to meeting the expanding needs of the U.S. Army. In support of this endeavor, Microsoft has scheduled on-site Soldier Assessments at Fort Belvoir, Virginia, for the year 2024.
