Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 259

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 8
Chunk 259
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-cash activitiesTransfer of property and equipment to inventory$191 $— $191 Capital expenditures incurred but not yet paid10,214 — 10,214 Capitalization of stock compensation340 — 340 Finback exercise price348 — 348 Reconciliation of cash, cash equivalents and restricted cash:Cash and cash equivalents$99,617 $— $99,617 Restricted cash1,000 — 1,000 Restricted cash, noncurrent275 — 275 Total cash, cash equivalents and restricted cash shown in the statements of cash flows$100,892 $— $100,892 The footnotes that follow have been updated to reflect the restatement adjustments as described above.

F-17

Table of ContentsEVOLV TECHNOLOGIES HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

3. Summary of Significant Accounting Policies

Significant Accounting PoliciesThe significant accounting policies and estimates used in preparation of the unaudited condensed consolidated financial statements are described in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2023, and the notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2023. Other than "Contract Balances from Contracts with Customers", "Commissions" and "Consignment Sales" discussed below, there have been no material changes to the Company’s significant accounting policies during the nine months ended September 30, 2024.Contract Balances from Contracts with CustomersContract assets arise from unbilled amounts in customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time. Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as deferred revenue, noncurrent.CommissionsThe Company incurs and pays commissions on sales of its products and services. The Company applies the practical expedient for contracts less than one year in