VirTra, Inc. (NASDAQ:VTSI) Q2 2024 Earnings Conference Call August 1, 0000 4:30 PM ET
Company Participants
John Givens - Chief Executive Officer
Alanna Boudreau - Chief Financial Officer
Conference Call Participants
Jaeson Schmidt - Lake Street Capital Markets
Richard Baldry - ROTH Capital Partners
Operator
Good afternoon, and welcome to VirTra's Second Quarter 2024 Earnings Conference Call. My name is Paul, and I will be your operator for today's call. Joining us for today's presentation are the company's CEO, John Givens; and CFO, Alanna Boudreau. Following their remarks, we will open the call for questions.
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 of the company's website at www.virtra.com.
Now I'd like to turn the call over to VirTra's CEO, Mr. John Givens. Thank you. You may proceed, sir.
John Givens
Thank you, Paul, and thank you, everyone, for joining us this afternoon. After the markets closed today, we issued a press release that provided our financial results for the second quarter ended June 30, 2024, along with highlighted business accomplishments.
Today, I'll begin by discussing our second quarter performance and strategic achievements, including the launch of our V-XR platform and our military market engagements before handing it over to Alanna for a detailed financial review. After that, I'll provide some concluding remarks before moving on to Q&A portion.
Our second quarter results reflect the continuation of a transitional period as we ramp up our new sales initiatives. While our performance was not strong as we had hoped, I take full responsibility for these results. And we have entered into the second-half in a position to reboot progress.
Our revenue came in at $6.1 million. The results are due to both controllable and uncontrollable factors. The controllables are being our go-to-market efforts, the uncontrollables being delayed decision-making from delayed budgeting resolutions during the first-half of the year. We are making progress on the controllable areas and finding workarounds to the uncontrollable areas, which I'll detail shortly.