Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 96

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 96
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 31,20232022$ Change% Change(Restated)(Restated)Revenue:Product revenue$22,768 $29,787 $(7,019)(24) %Subscription revenue36,201 17,041 19,160 112 Service revenue15,606 4,595 11,011 240 License fee and other revenue4,990 1,296 3,694 285 Total revenue79,565 52,719 26,846 51 Cost of revenue:Cost of product revenue27,967 39,437 (11,470)(29)Cost of subscription revenue14,760 7,460 7,300 98 Cost of service revenue3,982 2,200 1,782 81 Cost of license fee and other revenue949 2,222 (1,273)(57)Total cost of revenue47,658 51,319 (3,661)(7)Gross profit31,907 1,400 30,507 2,179 Operating expenses:Research and development24,473 18,537 5,936 32 Sales and marketing54,986 46,683 8,303 18 General and administrative42,182 37,969 4,213 11 Loss from impairment of property and equipment322 1,161 (839)(72)Total operating expenses121,963 104,350 17,613 17 Loss from operations(90,056)(102,950)12,894 13 Other (expense) income, net:Interest expense(654)(712)58 8 Interest income6,227 3,165 3,062 97 Other expense, net(84)(64)(20)(31)Loss on extinguishment of debt(626)— (626)*Change in fair value of contingent earn-out liability(14,901)6,988 (21,889)(313)Change in fair value of contingently issuable common stock liability(3,138)1,872 (5,010)(268)Change in fair value of public warrant liability(4,765)4,906 (9,671)(197)Total other (expense) income, net(17,941)16,155 (34,096)(211)Loss before income taxes(107,997)(86,795)(21,202)(24)