$VTSI
VirTra, Inc

2024 Q1 Form 10-K Financial Statement

#000149315224012364 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $8.094M $10.12M $38.04M
YoY Change -19.27% 16.99% 34.42%
Cost Of Revenue $2.632M $1.709M $11.38M
YoY Change -14.48% -48.85% -5.55%
Gross Profit $5.462M $8.409M $26.67M
YoY Change -21.4% 58.43% 64.04%
Gross Profit Margin 67.48% 83.11% 70.09%
Selling, General & Admin $3.370M $5.014M $14.24M
YoY Change 24.31% 80.84% 28.77%
% of Gross Profit 61.71% 59.63% 53.39%
Research & Development $693.4K $828.9K $2.794M
YoY Change -9.52% 33.15% 7.19%
% of Gross Profit 12.69% 9.86% 10.48%
Depreciation & Amortization $236.5K $228.6K $928.6K
YoY Change 3.94% 0.53% 4.67%
% of Gross Profit 4.33% 2.72% 3.48%
Operating Expenses $4.064M $5.843M $17.03M
YoY Change 16.86% 72.1% 24.66%
Operating Profit $1.398M $2.566M $9.636M
YoY Change -59.72% 34.16% 271.5%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $329.3K $184.7K $586.1K
YoY Change 182.85% -294.96% -985.79%
Pretax Income $1.728M $2.751M $10.22M
YoY Change -51.85% 51.31% 304.41%
Income Tax $511.4K -$44.34K $1.819M
% Of Pretax Income 29.6% -1.61% 17.79%
Net Earnings $1.216M $2.795M $8.403M
YoY Change -58.72% 100.46% 329.62%
Net Earnings / Revenue 15.02% 27.62% 22.09%
Basic Earnings Per Share $0.11 $0.77
Diluted Earnings Per Share $0.11 $0.25 $0.77
COMMON SHARES
Basic Shares Outstanding 11.11M shares 11.09M shares 10.96M shares
Diluted Shares Outstanding 10.96M shares 10.96M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.42M $18.85M $18.85M
YoY Change 57.21% 39.8% 39.8%
Cash & Equivalents $22.42M $18.85M $18.85M
Short-Term Investments
Other Short-Term Assets $832.7K $906.8K $906.8K
YoY Change 56.31% 70.76% 70.76%
Inventory $12.29M $12.40M $12.40M
Prepaid Expenses
Receivables $10.30M $16.83M $16.83M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $47.52M $49.00M $49.00M
YoY Change 24.58% 43.7% 43.7%
LONG-TERM ASSETS
Property, Plant & Equipment $16.80M $16.20M $16.20M
YoY Change 10.46% 6.13% -1.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $201.7K $3.868M $3.868M
YoY Change -46.54% 927.34% 45.89%
Total Long-Term Assets $21.85M $20.64M $20.64M
YoY Change 7.13% 4.67% 4.67%
TOTAL ASSETS
Total Short-Term Assets $47.52M $49.00M $49.00M
Total Long-Term Assets $21.85M $20.64M $20.64M
Total Assets $69.38M $69.63M $69.63M
YoY Change 18.5% 29.4% 29.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.695M $2.282M $2.282M
YoY Change 8.06% 82.41% 82.41%
Accrued Expenses $1.283M $1.546M $1.546M
YoY Change -26.21% -24.26% -24.26%
Deferred Revenue $5.539M $6.736M
YoY Change 45.62% 56.56%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $226.7K $226.4K $226.4K
YoY Change -1.19% -2.66% -2.66%
Total Short-Term Liabilities $14.34M $15.75M $15.75M
YoY Change 31.86% 61.48% 61.48%
LONG-TERM LIABILITIES
Long-Term Debt $7.752M $7.813M $7.813M
YoY Change -3.02% -2.95% -2.95%
Other Long-Term Liabilities $3.294M $3.444M $3.444M
YoY Change 12.39% 48.08%
Total Long-Term Liabilities $11.05M $11.26M $11.26M
YoY Change 1.12% 8.49% 8.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.34M $15.75M $15.75M
Total Long-Term Liabilities $11.05M $11.26M $11.26M
Total Liabilities $25.39M $27.01M $27.01M
YoY Change 16.45% 34.17% 34.17%
SHAREHOLDERS EQUITY
Retained Earnings $11.88M $10.66M
YoY Change 128.16% 371.79%
Common Stock $1.110K $1.109K
YoY Change 1.74% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.99M $42.62M $42.62M
YoY Change
Total Liabilities & Shareholders Equity $69.38M $69.63M $69.63M
YoY Change 18.5% 29.4% 29.4%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $1.216M $2.795M $8.403M
YoY Change -58.72% 100.46% 329.62%
Depreciation, Depletion And Amortization $236.5K $228.6K $928.6K
YoY Change 3.94% 0.53% 4.67%
Cash From Operating Activities $5.137M $2.313M $6.683M
YoY Change 424.88% -286.39% -348.12%
INVESTING ACTIVITIES
Capital Expenditures $1.547M $618.2K $1.128M
YoY Change 846.38% -31.09% -64.98%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.547M -$618.2K -$1.128M
YoY Change 846.38% -31.09% -66.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $54.90K
YoY Change
Debt Paid & Issued, Net $35.15K $243.1K
YoY Change -39.13% 5.11%
Cash From Financing Activities -$24.40K -48.18K -188.2K
YoY Change -40.52% -6.77% -1.18%
NET CHANGE
Cash From Operating Activities $5.137M 2.313M 6.683M
Cash From Investing Activities -$1.547M -618.2K -1.128M
Cash From Financing Activities -$24.40K -48.18K -188.2K
Net Change In Cash $3.565M 1.646M 5.366M
YoY Change 360.56% -175.19% -186.21%
FREE CASH FLOW
Cash From Operating Activities $5.137M $2.313M $6.683M
Capital Expenditures $1.547M $618.2K $1.128M
Free Cash Flow $3.590M $1.694M $5.554M
YoY Change 340.37% -179.26% -193.91%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001085243
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
usd
CY2023 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023 VTSI Addition Of New Operating Lease Rou Assetliability
AdditionOfNewOperatingLeaseRouAssetliability
usd
CY2023 VTSI Conversion Of Inventory To Property And Equipment
ConversionOfInventoryToPropertyAndEquipment
usd
CY2023 VTSI Licensing And Royalties Revenue
LicensingAndRoyaltiesRevenue
usd
CY2022 VTSI Design And Prototyping
DesignAndPrototyping
usd
CY2023 VTSI Operating Lease Right Of Use Asset Addition Property
OperatingLeaseRightOfUseAssetAdditionProperty
usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0012 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0014 pure
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
79117563 usd
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
11109730 shares
CY2023 dei Auditor Name
AuditorName
Haynie & Company
CY2023 dei Auditor Location
AuditorLocation
Salt Lake City, Utah
CY2023 dei Auditor Firm
AuditorFirmId
457
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18849842 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13483597 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
15724147 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3002887 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
12404880 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
9592328 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
1109616 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
7485990 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
906803 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
531051 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
48995288 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
34095853 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15487012 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15267133 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
716687 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1212814 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
567540 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
587777 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
35691 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
35691 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
201670 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
376461 usd
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
3630154 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2238762 usd
CY2023Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
20638754 usd
CY2022Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
19718638 usd
CY2023Q4 us-gaap Assets
Assets
69634042 usd
CY2022Q4 us-gaap Assets
Assets
53814491 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2282427 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1251240 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2221416 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1494890 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3970559 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1917922 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
226355 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
232537 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
317840 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
557683 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6736175 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4302492 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
15754772 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9756764 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3012206 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1605969 usd
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
7813021 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
8050116 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
432176 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
720023 usd
CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
11257403 usd
CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
10376108 usd
CY2023Q4 us-gaap Liabilities
Liabilities
27012175 usd
CY2022Q4 us-gaap Liabilities
Liabilities
20132872 usd
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11107230 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11107230 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10900759 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10900759 shares
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
1109 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
1089 usd
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
1109 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
1089 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
31957765 usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
31420395 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
10662993 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2260135 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
42621867 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
33681619 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
69634042 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
53814491 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38043360 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28302244 usd
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
11378264 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
456167 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13029917 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-893852 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2812552 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12047366 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14235194 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2794314 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2606840 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
17029508 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
13661173 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
9635588 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
2593705 usd
CY2023 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
888464 usd
CY2022 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
194523 usd
CY2023 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
302382 usd
CY2022 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
260688 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
586082 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-66165 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10221670 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2527540 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1818812 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
571642 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
8402858 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
1955898 usd
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.77
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10958448 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10863680 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10963477 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10873606 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
31228709 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
40845 usd
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
350001 usd
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
761 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
105405 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
1955898 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
33681619 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
33681619 usd
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54900 usd
CY2023 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
75000 usd
CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
18 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
407472 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
8402858 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
42621867 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
42621867 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
8402858 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
1955898 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
928545 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
887118 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
496127 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
412335 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
308657 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
482490 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4577404 usd
CY2023 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1391392 usd
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
564528 usd
CY2023 VTSI Increase Decrease Unbilled Revenue
IncreaseDecreaseUnbilledRevenue
-6376374 usd
CY2022 VTSI Increase Decrease Unbilled Revenue
IncreaseDecreaseUnbilledRevenue
3539544 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
375752 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-409836 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-174791 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
186727 usd
CY2023 VTSI Increase Decrease In Operating Lease Right Of Use Liability
IncreaseDecreaseInOperatingLeaseRightOfUseLiability
-527690 usd
CY2022 VTSI Increase Decrease In Operating Lease Right Of Use Liability
IncreaseDecreaseInOperatingLeaseRightOfUseLiability
-416292 usd
CY2022 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
15979 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3810157 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1811646 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3839920 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-219729 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6682616 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2693351 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
120016 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1128187 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3221182 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1128187 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3341198 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
243084 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
231264 usd
CY2023 VTSI Proceeds From Stock Issued For Options Exercised
ProceedsFromStockIssuedForOptionsExercised
54900 usd
CY2022 VTSI Proceeds From Stock Issued For Options Exercised
ProceedsFromStockIssuedForOptionsExercised
40845 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-188184 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-190419 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5366245 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6224968 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13483597 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19708565 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
18849842 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13483597 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
108777 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
248653 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
128507 usd
CY2022 VTSI Addition Of New Operating Lease Rou Assetliability
AdditionOfNewOperatingLeaseRouAssetliability
294016 usd
CY2022 VTSI Conversion Of Inventory To Property And Equipment
ConversionOfInventoryToPropertyAndEquipment
840843 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_zfbFxgf5fOBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_z8QEF3OJDSZ3">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Significant accounting estimates in these financial statements include valuation assumptions for share-based payments, allowance for doubtful accounts and notes receivable, inventory reserves, accrual for warranty reserves, the carrying value of long-lived assets and intangible assets, income tax valuation allowances, the carrying value of cost basis investments, and the allocation of the transaction price to the performance obligations in our contracts with customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 VTSI Simulatorsand Accessories Revenue
SimulatorsandAccessoriesRevenue
24574142 usd
CY2022 VTSI Simulatorsand Accessories Revenue
SimulatorsandAccessoriesRevenue
23531598 usd
CY2023 VTSI Extended Servicetype Warranties
ExtendedServicetypeWarranties
3897578 usd
CY2022 VTSI Extended Servicetype Warranties
ExtendedServicetypeWarranties
2841787 usd
CY2023 VTSI Customized Software And Customized Content Scenarios
CustomizedSoftwareAndCustomizedContentScenarios
1245549 usd
CY2022 VTSI Customized Software And Customized Content Scenarios
CustomizedSoftwareAndCustomizedContentScenarios
1008485 usd
CY2023 VTSI Installation And Training
InstallationAndTraining
1216307 usd
CY2022 VTSI Installation And Training
InstallationAndTraining
911708 usd
CY2022 VTSI Licensing And Royalties Revenue
LicensingAndRoyaltiesRevenue
8666 usd
CY2023 VTSI Design And Prototyping
DesignAndPrototyping
7109784 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38043360 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28302244 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3897578 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2841788 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
343695 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
35039 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
429488 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
302431 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
156010 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
710011 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2794314 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2606840 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zOgrADJLUKM" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zt8aeZwSZ7Uh">Concentration of Credit Risk and Major Customers and Suppliers</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, certificates of deposit and accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s cash, cash equivalents and certificates of deposit are maintained with financial institutions with high credit standings and are FDIC insured deposits. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20231231_zqHrA9nDHFAf" title="FDIC insured amount">250,000</span> per depositor, per FDIC-insured bank, per ownership category. The Company had uninsured cash and cash equivalents of $<span id="xdx_90D_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20231231_zFP7gx2ha72g" title="Uninsured cash and cash equivalents">18,349,842</span> and $<span id="xdx_90A_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20221231_zYhyzztiKPr4" title="Uninsured cash and cash equivalents">12,983,597</span> on December 31, 2023 and 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales are typically made on credit and the Company generally does not require collateral. Management performs ongoing credit evaluations of its customers’ financial condition and maintains an allowance for estimated losses. Historically, the Company has experienced minimal charges relative to doubtful accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company had customers that accounted for <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zybzemuOxyU6">28</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% and <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_zKVIym52oV29">14</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of total accounts receivable. </span>As of December 31, 2022, the Company did not have any customers that accounted for more than 10% of total accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">As of December 31,2023, the company had one customer that accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zPi8tQ1uYhe4">19</span>% of the total revenue. As of December 2022 the company had one customer that accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zC9TYqppMu8k">10</span>% of the total revenue</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
18349842 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
12983597 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
8402858 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
1955898 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10958448 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10863680 shares
CY2023 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5029 shares
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
9918 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10963477 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10873606 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.77
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2023Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
12834368 usd
CY2022Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
9894759 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
429488 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
302431 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
12404880 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
9592328 usd
CY2022Q4 VTSI Reclassification Of Fixed Assets
ReclassificationOfFixedAssets
294016 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20375888 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19247700 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4888876 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3980567 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15487012 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15267133 usd
CY2023 us-gaap Depreciation
Depreciation
908308 usd
CY2022 us-gaap Depreciation
Depreciation
818816 usd
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
1778987 usd
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
8937050 usd
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
83963 usd
CY2021 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
10800000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
695207 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
695207 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
127667 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
107430 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
567540 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
587777 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20237 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
67318 usd
CY2023Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P9Y6M
CY2023 VTSI Borrowing Rate
BorrowingRate
0.045 pure
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
840855 usd
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1721380 usd
CY2019Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
46523 usd
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1674857 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1212814 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
784306 usd
CY2022 VTSI Operating Lease Right Of Use Asset Addition Property
OperatingLeaseRightOfUseAssetAdditionProperty
840843 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
496127 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
412335 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
716687 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1212814 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
317840 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
557683 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
432176 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
720023 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
750016 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1277706 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
317938 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
191478 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
196311 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
99381 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
805108 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
55092 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
750016 usd
CY2023Q4 us-gaap Advance Rent
AdvanceRent
0 usd
CY2022Q4 us-gaap Advance Rent
AdvanceRent
0 usd
CY2023 us-gaap Payments For Rent
PaymentsForRent
551412 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
356555 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
457565 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
502940 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
54811 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
31618 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
361418 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
590491 usd
CY2023Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
1347622 usd
CY2022Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
369841 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2221416 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1494890 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
354000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
358000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
3411669 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1294110 usd
CY2023Q4 us-gaap Other Borrowings
OtherBorrowings
204890 usd
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
265812 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
3970559 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1917922 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
226355 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
232537 usd
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
7813021 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
8050116 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
560971 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
471186 usd
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1525489 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
759304 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
395485 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
291279 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
356689 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
299358 usd
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1420445 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
986534 usd
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
70423 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
189289 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4448368 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2878084 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
637337 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
639322 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
180877 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
818214 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
639322 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3630154 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2238762 usd
CY2023Q4 VTSI Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable And Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAndOutstandingAggregateIntrinsicValue
81600 usd
CY2022Q4 VTSI Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable And Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAndOutstandingAggregateIntrinsicValue
82800 usd
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54900 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
40845 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4924686 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1136170 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3105874 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-564528 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1818812 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
571642 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.031 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.0485 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.055 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0038 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.002 pure
CY2023 VTSI Effective Income Tax Rate Reconciliation Ppp Loan Forgiveness
EffectiveIncomeTaxRateReconciliationPppLoanForgiveness
0.000 pure
CY2022 VTSI Effective Income Tax Rate Reconciliation Ppp Loan Forgiveness
EffectiveIncomeTaxRateReconciliationPppLoanForgiveness
-0.099 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1651 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.089 pure
CY2023Q4 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
60000000 shares
CY2023Q4 us-gaap Share Price
SharePrice
0.0001
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each holder of common stock shall be entitled to one (1) vote for each share of common stock held of record by such holder. The holders of shares of common stock shall not have cumulative voting rights.
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
0 usd
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
15000 shares
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
4.03
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
15000 shares
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
4.03
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
45000 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
4.26
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
112500 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
4.26
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15000 shares

Files In Submission

Name View Source Status
0001493152-24-012364-index-headers.html Edgar Link pending
0001493152-24-012364-index.html Edgar Link pending
0001493152-24-012364.txt Edgar Link pending
0001493152-24-012364-xbrl.zip Edgar Link pending
ex21-1.htm Edgar Link pending
ex23-1.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex97-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
form10-k_001.jpg Edgar Link pending
form10-k_002.jpg Edgar Link pending
form10-k_003.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
form10-k_htm.xml Edgar Link completed
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vtsi-20231231.xsd Edgar Link pending
vtsi-20231231_def.xml Edgar Link unprocessable
vtsi-20231231_lab.xml Edgar Link unprocessable
vtsi-20231231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
vtsi-20231231_cal.xml Edgar Link unprocessable