Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 287

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 287
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 expense(1,165)(1,656)(4,015)(4,678)Stock-based compensation expense15,390 7,507 15,291 21,364 Other non-recurring expenses2(30)3,810 10,343 7,745 Consulting and contract staffing2,216 2,825 8,539 9,261 Software subscriptions1,635 1,847 4,739 4,942 Depreciation and amortization6,540 4,575 17,859 11,933 Restructuring costs— — 2,662 860 Disposal of property and equipment1,870 — 3,503 — Other cost of revenue10,606 3,862 22,620 13,136 Other operating expenses5,057 5,816 13,011 16,857 Other segment items3(6,800)11,291 3,542 (25,132)Segment net (loss) income$(1,796)$(30,443)$(44,020)$(38,297)

F-29

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

1 Excludes incremental expense related to modified awards included in the Restructuring costs line. See Note 16, Restructuring Charges for additional information.2 For the three and nine months ended September 30, 2025, includes consulting and legal fees related to the Investigation and related matters, additional audit fees incurred in connection with the restatement of prior period financial statements, net of estimated insurance recoveries, as well as estimated net losses related to ongoing legal matters. For the three and nine months ended September 30, 2024, includes costs associated with adverse non-cancellable inventory purchase commitments, inventory reserve associated with the transition of our manufacturing operations to the next generation of Evolv Express systems and the determination that certain components within our legacy systems will not be used in the next generation systems, and severance expense.3 Refer to Total other income (expense), net and provision for income taxes in the condensed consolidated statements of operations and comprehensive loss.

16. Restructuring Charges

In January 2025, the Company implemented a Board-approved reduction in force affecting 41 members of its workforce. This action is part of the Company’s initiative to increase its profitability and