Evolv Technologies Holdings, Inc. EVLV
Evolv Technologies Holdings, Inc., a Delaware corporation formed in 2021 ("we," "us," "our," the "Company" and "Evolv") is a leading security technology company pioneering Artificial Intelligence ("AI")-powered screening solutions designed to help create safer environments while maintaining efficient visitor flow and a positive visitor experience. We serve customers across a range of end markets, including education, healthcare, sports, live entertainment, tourist attractions, houses of worship, and industrial workplaces. Our mission is to make the world a safer and more enjoyable place to live, work, learn, and play. Our goal is to help facility operators address escalating gun violence, mass shootings and terrorist attacks while maintaining a positive visitor experience.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $145.9M | $103.9M | $79.6M | $52.7M | $23.4M | $4.8M | — |
| Cost of revenue | $70.6M | $44.4M | $47.7M | $51.3M | $19.4M | $3.5M | — |
| Gross profit | $75.3M | $59.5M | $31.9M | $1.4M | $4.0M | $1.3M | — |
| R&D | $20.6M | $23.4M | $24.5M | $18.5M | $11.5M | $15.7M | — |
| SG&A | $54.9M | $56.6M | $42.2M | $38.0M | $19.9M | $5.1M | — |
| Total operating expenses | $123.8M | $141.8M | $122.0M | $104.3M | $59.3M | $28.2M | — |
| Operating income | -$48.5M | -$82.3M | -$90.1M | -$103.0M | -$55.3M | -$26.9M | — |
| Interest expense | $1.7M | $0 | $654.0K | $712.0K | $6.1M | $430.0K | — |
| Pre-tax income | -$33.1M | -$54.0M | -$108.0M | -$86.8M | -$10.9M | -$27.4M | — |
| Income tax | $62.0K | $0 | $51.0K | $0 | $0 | $0 | — |
| Net income | -$33.1M | -$54.0M | -$108.0M | -$86.8M | -$10.9M | -$27.4M | — |
| EPS, basic | -0.20 | -0.34 | -0.72 | -0.60 | -0.15 | -3.07 | — |
| EPS, diluted | -0.20 | -0.34 | -0.72 | -0.60 | -0.15 | -3.07 | — |
| Shares, diluted (wtd. avg.) | $168.4M | $156.6M | $149.2M | $143.9M | $71.7M | $8.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $49.1M | $37.0M | $67.4M | $242.7M | $308.2M | $4.7M | $17.3M |
| Short-term investments | $19.9M | $14.9M | $29.6M | $0 | — | — | — |
| Receivables | $30.8M | $28.4M | $26.1M | $12.9M | $6.5M | $1.4M | — |
| Inventory | $9.3M | $17.0M | $5.7M | $6.0M | $2.9M | $1.6M | — |
| Total current assets | $151.3M | $121.4M | $210.4M | $287.1M | $331.1M | $9.8M | — |
| Property, plant and equipment | $127.5M | $123.7M | $81.2M | $33.9M | $23.8M | $10.1M | — |
| Total assets | $304.4M | $268.1M | $302.4M | $332.3M | $362.9M | $21.8M | — |
| Accounts payable | $9.8M | $10.5M | $16.9M | $9.4M | $6.0M | $4.4M | — |
| Short-term debt | $0 | $0 | $0 | $4.0M | $2.0M | — | — |
| Total current liabilities | $123.0M | $96.7M | $59.8M | $33.0M | $24.3M | $12.6M | — |
| Long-term debt | $28.6M | $0 | $0 | $6.0M | $7.9M | $16.4M | — |
| Total liabilities | $185.0M | $150.4M | $159.2M | $72.8M | $72.6M | $30.7M | — |
| Retained earnings | -$387.8M | -$354.7M | -$288.5M | -$145.9M | -$105.8M | -$94.9M | — |
| Total equity | $119.4M | $117.7M | $144.1M | $259.6M | $290.3M | -$84.8M | -$58.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $18.7M | -$30.9M | -$9.8M | -$74.7M | -$56.8M | -$23.3M | — |
| Depreciation and amortisation | $24.3M | $17.4M | $9.7M | $5.4M | $2.9M | $1.1M | — |
| Stock-based compensation | $21.1M | $24.8M | $24.1M | $22.5M | $9.6M | $662.0K | — |
| Capital expenditure | — | — | — | — | $3.7M | $6.6M | — |
| Investing cash flow | -$41.8M | -$1.4M | -$123.1M | -$23.9M | -$17.6M | -$6.6M | — |
| Financing cash flow | $35.4M | $1.8M | -$29.7M | $20.5M | $377.8M | $17.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001805385-26-000018.
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