Virtuix Holdings Inc (NASDAQ:VTIX) CEO Jan Goetgeluk talked with Proactive about the company’s official expansion into the European consumer market with its flagship product, the Omni – an omnidirectional treadmill for immersive virtual reality experiences.
Proactive: The company just came out with news about expanding into Europe, and we'll talk about that in depth in just a second. But for those not familiar, remind everyone a little bit about the company and what it is you're going to be selling into Europe.
Jan Goetgeluk: Yeah, we make the Omni. The Omni is an omnidirectional treadmill that lets you walk and run around in 360 degrees inside video games or other virtual worlds. It could be for entertainment, enterprise, or defense. And now, indeed, we're expanding our consumer business to Europe for the first time.
This has always been a part of the growth strategy for the company, and now you're fulfilling that part of it. Talk to me about moving into Europe and the opportunity there.
Exactly. As you remember, we reported 238% year-over-year growth. At the time of our public listing on Nasdaq a few weeks ago, I mentioned, “Hey, we're only getting started.” We're still only scratching the surface of that growth. So now, for the first time, we're expanding our consumer business overseas to Europe—first the UK, then EU countries. That’s a first step in accelerating our growth beyond the US on the consumer side.
You mentioned the UK and France, and other countries are coming as well. It'll be done in April. Talk to me about those markets specifically. Are they strong growth markets?
Yeah, they are. The European gaming markets, especially on the PC side, have historically been very strong. It's very exciting for us to go there. We have a lot of fans in Europe that have been following us since the beginning. The common question has been, "When can I buy the Omni in Europe?" Well, the answer is: today. We announced that you can now buy it. First containers are on the way, and units will be delivered in mid-April.
You've got a partner over there as well, someone familiar with that particular area. That’s a big bonus, right?
Yes, that's right. We’re working with Unbound XR, Europe’s leading XR online retailer for XR equipment and hardware. They’re a longstanding partner of ours on the enterprise side. We've been selling enterprise systems in Europe and other international markets. So they’re the perfect partner for us to now also expand our consumer business to Europe.
Your production capacity — can you talk a bit about that and the logistics of going into Europe?
Yeah, we currently have capacity to produce 3,000 units per month. That equates to around $100 million in potential annual revenues. So we’re ready to scale. We’ve been active in the US, and now we’re bringing that to Europe. We can fulfill demand and really take our growth to the next level on the consumer side. And as you know, we pair that with enterprise and defense contracts as well.
Is the defense side also an area you're exploring in Europe?
Absolutely. Our defense business, with our Virtual Terrain Walk system, allows soldiers to walk the terrain before they fight on it—exploring battlefields virtually before putting boots on the ground. It’s a revolutionary technology we're offering first to the US military—Army, Marine Corps, and others. We've sold test units to Eglin Air Force Base, the U.S. Air Force Academy, and the Military Academy at West Point. So there's some initial traction in the US, but it’s very much an international offering. We can extend this to allied forces, including NATO.
Lastly, Jan, talk to me about your message to investors at this point, given the tremendous growth in North America and now this expansion into Europe.
Yeah, we're ready to scale. We’re only getting started. For investors looking to join our journey, we’re expanding consumer growth and pairing that with potentially high-margin enterprise and defense contracts, like the VTW system. That dual-use strategy is what we believe will power our growth and value creation for shareholders. It’s an exciting journey ahead, and I hope investors join us in our future.
Quotes have been lightly edited for style and clarity