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Side-by-side financial comparison of VirTra, Inc (VTSI) and zSpace, Inc. (ZSPC). Click either name above to swap in a different company.
zSpace, Inc. is the larger business by last-quarter revenue ($4.8M vs $2.9M, roughly 1.7× VirTra, Inc). VirTra, Inc runs the higher net margin — -27.2% vs -150.3%, a 123.1% gap on every dollar of revenue.
VirTra, Inc. is a global provider of highly realistic immersive training simulators and supporting curriculum, primarily serving law enforcement agencies, military units, and public safety organizations. Its scenario-based training systems are designed to enhance frontline personnel's decision-making, de-escalation skills, and on-duty operational safety.
zSpace, Inc. is an American technology firm based in San Jose, California that delivers virtual and augmented reality experiences in STEM, CTE, and career readiness programs from a computer. zSpace mostly provides AR/VR technology to the education market, allowing teachers and learners to interact with simulated objects in virtual environments.
VTSI vs ZSPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9M | $4.8M |
| Net Profit | $-792.4K | $-7.3M |
| Gross Margin | 57.5% | 49.1% |
| Operating Margin | -47.9% | -116.2% |
| Net Margin | -27.2% | -150.3% |
| Revenue YoY | -46.5% | — |
| Net Profit YoY | 10.8% | — |
| EPS (diluted) | $-0.08 | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.9M | $4.8M | ||
| Q3 25 | $5.3M | $8.8M | ||
| Q2 25 | $7.0M | $7.5M | ||
| Q1 25 | $7.2M | $6.8M | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $6.1M | — | ||
| Q1 24 | $7.3M | — |
| Q4 25 | $-792.4K | $-7.3M | ||
| Q3 25 | $-388.6K | $-6.2M | ||
| Q2 25 | $175.3K | $-6.1M | ||
| Q1 25 | $1.3M | $-5.8M | ||
| Q4 24 | $-888.3K | — | ||
| Q3 24 | $583.1K | — | ||
| Q2 24 | $1.2M | — | ||
| Q1 24 | $468.2K | — |
| Q4 25 | 57.5% | 49.1% | ||
| Q3 25 | 65.8% | 51.2% | ||
| Q2 25 | 69.0% | 42.6% | ||
| Q1 25 | 72.6% | 47.4% | ||
| Q4 24 | 67.5% | — | ||
| Q3 24 | 73.5% | — | ||
| Q2 24 | 90.9% | — | ||
| Q1 24 | 64.2% | — |
| Q4 25 | -47.9% | -116.2% | ||
| Q3 25 | -8.4% | -54.5% | ||
| Q2 25 | 13.1% | -84.9% | ||
| Q1 25 | 19.1% | -79.7% | ||
| Q4 24 | -9.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 18.6% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | -27.2% | -150.3% | ||
| Q3 25 | -7.3% | -70.2% | ||
| Q2 25 | 2.5% | -81.8% | ||
| Q1 25 | 17.7% | -86.3% | ||
| Q4 24 | -16.3% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 19.8% | — | ||
| Q1 24 | 6.4% | — |
| Q4 25 | $-0.08 | $-0.22 | ||
| Q3 25 | $-0.03 | $-0.26 | ||
| Q2 25 | $0.02 | $-0.27 | ||
| Q1 25 | $0.11 | $-0.26 | ||
| Q4 24 | $-0.08 | — | ||
| Q3 24 | $0.05 | — | ||
| Q2 24 | $0.11 | — | ||
| Q1 24 | $0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.6M | — |
| Total DebtLower is stronger | $7.5M | $17.7M |
| Stockholders' EquityBook value | $45.6M | $-22.5M |
| Total Assets | $65.1M | $7.6M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.6M | — | ||
| Q3 25 | $20.8M | — | ||
| Q2 25 | $20.7M | — | ||
| Q1 25 | $17.6M | — | ||
| Q4 24 | $18.0M | — | ||
| Q3 24 | $19.7M | — | ||
| Q2 24 | $18.4M | — | ||
| Q1 24 | $22.4M | — |
| Q4 25 | $7.5M | $17.7M | ||
| Q3 25 | — | $18.7M | ||
| Q2 25 | — | $18.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $45.6M | $-22.5M | ||
| Q3 25 | $46.3M | $-19.7M | ||
| Q2 25 | $46.8M | $-22.3M | ||
| Q1 25 | $46.5M | $-19.6M | ||
| Q4 24 | $45.2M | — | ||
| Q3 24 | $45.7M | — | ||
| Q2 24 | $44.9M | — | ||
| Q1 24 | $43.5M | — |
| Q4 25 | $65.1M | $7.6M | ||
| Q3 25 | $66.2M | $13.5M | ||
| Q2 25 | $67.4M | $12.1M | ||
| Q1 25 | $66.8M | $9.8M | ||
| Q4 24 | $65.0M | — | ||
| Q3 24 | $66.1M | — | ||
| Q2 24 | $66.0M | — | ||
| Q1 24 | $69.4M | — |
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.5M | $-3.9M |
| Free Cash FlowOCF − Capex | $-2.1M | — |
| FCF MarginFCF / Revenue | -72.5% | — |
| Capex IntensityCapex / Revenue | 21.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.5M | $-3.9M | ||
| Q3 25 | $36.3K | $-2.5M | ||
| Q2 25 | $6.0M | $-6.9M | ||
| Q1 25 | $65.7K | $-4.6M | ||
| Q4 24 | $-908.7K | — | ||
| Q3 24 | $897.7K | — | ||
| Q2 24 | $-3.9M | — | ||
| Q1 24 | $5.1M | — |
| Q4 25 | $-2.1M | — | ||
| Q3 25 | $-61.2K | — | ||
| Q2 25 | $5.4M | — | ||
| Q1 25 | $-362.7K | — | ||
| Q4 24 | $-1.1M | — | ||
| Q3 24 | $814.2K | — | ||
| Q2 24 | $-3.9M | — | ||
| Q1 24 | $3.6M | — |
| Q4 25 | -72.5% | — | ||
| Q3 25 | -1.1% | — | ||
| Q2 25 | 77.6% | — | ||
| Q1 25 | -5.1% | — | ||
| Q4 24 | -19.5% | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | -64.7% | — | ||
| Q1 24 | 48.9% | — |
| Q4 25 | 21.2% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | 21.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 34.12× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | -3.22× | — | ||
| Q1 24 | 10.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VTSI
Segment breakdown not available.
ZSPC
| Transferred At Point In Time | $4.6M | 94% |
| Other | $287.0K | 6% |
