VirTra, Inc. (NASDAQ:VTSI) Q1 2020 Earnings Conference Call - Final Transcript

May 11, 2020 • 04:30 pm ET

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VirTra, Inc. (NASDAQ:VTSI) Q1 2020 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Mr. Ferris and Ms. Henry, thank you for your remarks today. [Operator Instructions]. Our first question today comes from the line of Jaeson Schmidt at Lake Street. Please go ahead, Jaeson.

Analyst
Jaeson Schmidt

Hey, guys. Thanks for taking my questions. Just curious if you could quantify how much revenue was pushed out of Q1 into, into kind of Q2 and Q3?

Executive
Bob Ferris

We've not quantified that. But as a general number, it exceeded $1 million.

Analyst
Jaeson Schmidt

Okay. That's helpful. And then, Bob, I know you mentioned some of the traction you're seeing specifically with the IDIQ order in April, but curious if you could expand on that and just talk about some of the order patterns that you saw in April, and then now here in the first part of May?

Executive
Bob Ferris

Yes. Thanks for the question, Jaeson. We've not noticed a shift in the order patterns. Like I mentioned, we have seen some modifications on the delivery side and that is unknown exactly how that will work in the future if that was the -- the linear to stay-at-home orders easing up or if there's going to be additional conservative approaches from customers. We have had a couple customers that are actually more aggressive and want installation, even though we are more cautious right now with obviously air travel. But so I think there could be a bit of a spectrum where some customers will be a bit more aggressive and others will be more conservative. But on the order--order side, I think the combination of having a larger product mix this year than we've had in previous years, having an enhanced reputation this year after doing a lot of hard work in previous years and decades, I think all of that is really benefiting us right now. So, I think it's a result of a lot of our website updates and our digital marketing capabilities has made us a better choice during this time of stay at home orders.

Analyst
Jaeson Schmidt

Okay, appreciate that color, And the last one from me and I will come back into queue. It sounds like you're not seeing it today. But given the potential for constrained budgets in the future, are you seeing any push back from customers from a pricing standpoint?

Executive
Bob Ferris

Thanks, Jaeson. Not any different than we've seen in the past. So, I, we always have the potential to encounter people that are very price sensitive. We do our best to explain that sometimes you get what you pay for and being a department that has selected the lowest cost simulation provider that may have the weakest training potential in life and death situations is not a great position to be in and actually can be counterproductive. We think we are in an area where effective training can many times win the argument over the lowest cost provider, and we certainly work hard to explain that. So and we also for those who do want quality training we also have the STEP program, the subscription arrangement so that