Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 262

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 8
Chunk 262
---
 HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

5. Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values (in thousands):Fair Value Measurements at September 30, 2024Level 1Level 2Level 3TotalAssets:Money market funds$22,461 $— $— $22,461 Treasury bills— 20,902 — 20,902 $22,461 $20,902 $— $43,363 Liabilities:Contingent earn-out liability$— $— $14,027 $14,027 Contingently issuable common stock liability— — 4,312 4,312 Public Warrant liability5,428 — — 5,428 $5,428 $— $18,339 $23,767 Fair Value Measurements at December 31, 2023Level 1Level 2Level 3TotalAssets:Money market funds$57,829 $— $— $57,829 Treasury bills— 51,289 — 51,289 $57,829 $51,289 $— $109,118 Liabilities:Contingent earn-out liability$— $— $29,119 $29,119 Contingently issuable common stock liability— — 6,530 6,530 Public Warrant liability10,889 — — 10,889 $10,889 $— $35,649 $46,538 Money market funds are included in cash and cash equivalents on the condensed consolidated balance sheets. As of September 30, 2024, U.S. treasury bills with maturities less than 3 months, which totaled $10.9 million, are included in cash and cash equivalents, while treasury bills with maturities greater than 3 months, which totaled $10.0 million, are reflected as marketable securities. As of December 31, 2023, all outstanding treasury bills, which totaled $51.3 million, had original maturities greater than three months and are reflected as marketable securities. The fair value of the