VirTra, Inc. (NASDAQ:VTSI) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET

Company Participants

Bob Ferris - Chairman, President, Co-Chief Executive Officer

John Givens - Director & Co-Chief Executive Officer

Alanna Boudreau - Chief Financial Officer

Conference Call Participants

Richard Baldry - ROTH MKM

Jaeson Schmidt - Lake Street

Operator

Good afternoon, and welcome to VirTra's First Quarter 2023 Earnings Conference Call. My name is Claudia, and I will be your operator for today's call.

Joining us for today's presentation are the company's Chairman and Co-CEO, Bob Ferris; Co-CEO, John Givens; and Chief Financial Officer, Alanna Boudreau. Following their remarks, we will open the call for questions from VirTra's institutional analysts and investors.

Before we begin the call, I would like to provide VirTra's Safe Harbor Statement that includes cautions regarding forward-looking statements made during this call. During this presentation, management may discuss financial projections, information or expectations about the company's products and services or markets or otherwise make statements about the future, which are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made.

The company does not undertake any obligation to update them as required by law. Finally, I'd like to remind everyone that this call will be made available for replay via a link in the Investor Relations section on the company's website at www.virtra.com.

Now I'd like to turn the call over to VirTra's Chairman and CEO, Mr. Bob Ferris. Thank you and you may proceed sir.

Bob Ferris

Thank you, Claudia and thank you everyone for joining us this afternoon. After the market closed today, we issued a press release that provided our financial results for the first quarter ended March 31, 2023 along with highlighted business accomplishments. We also filed our 10-Q with the SEC today, which is available for review at your discretion.

As a brief overview for today's call, I'll begin by providing highlights for the first quarter 2023 and I'll summarize some of our recent business developments before passing the call over to John to discuss operations and provide an update on our military market progress. After that Alanna will discuss our financial results in more detail. I'll then come back on to discuss how 2023 has been going so far before moving to Q&A.

And with that let's begin. Q1 we continue to build on the momentum of our 17th consecutive year of revenue growth by achieving a remarkable $10 million in quarterly revenue our best performance ever. We achieved this remarkable growth while at the same time pushing costs downward a difficult accomplishment with recent inflationary pressures.