Company: EVLVW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001628280-25-021091
Chunk: 1

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 1
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• We welcomed nearly 250 new customers across key markets, including education, healthcare, professional sports, and industrial workplaces.

• We increased the number of multi-year subscriptions of Evolv Express from approximately 4,500 in 2023 to approximately 6,100 by the end of 2024.

• We screened more than 1.1 billion visitors in 2024, a 55% increase over the prior year, bringing our total screenings since the launch of Evolv Express in 2019 to over 2 billion.

• Our customers reported using Evolv Express to detect nearly 500,000 weapons, underscoring the vital role our technology plays in safeguarding public spaces.

These milestones translated into improved financial results for our stockholders. We reported total revenue of $103.9 million in 2024, up 31% from 2023, driven by strong new customer growth and expanded deployments within our existing customer base. Annual Recurring Revenue (ARR) grew 39% to $99.4 million from $71.3 million at the end of 2023. Adjusted EBITDA improved significantly to ($21.0) million in 2024, compared to ($51.8) million in 2023.

#### Advancing Innovation in Security
Our technology is a key component of a layered approach to venue security. It is designed to deliver excellent security while enhancing the visitor experience by enabling faster, more seamless entry processes. Through the data insights we can provide, we help organizations optimize their security operations and make informed decisions about their security strategies.

At the core of our mission is product innovation. In 2024, we extended our technology leadership with next-generation solutions designed to meet evolving security challenges.

• We introduced the latest iteration of Evolv Express, combining high-throughput entry with advanced AI and sensor technology to enhance threat detection and reduce congestion. Our latest Express offering is a single SKU for indoor and outdoor deployments, is easier to deploy, easier to move, and has a lower manufacturing cost.

• We launched Evolv eXpedite™, an autonomous, AI-powered bag screening solution designed for high-clutter environments like schools, hospitals, and office buildings.

• We continued refining our AI to improve the ability of security personnel to interdict threats, utilizing our proprietary location and red-box visualization technology to highlight detected threats.

• We continued to enhance our My Evolv portal, our mobile app, and our cloud API to provide our customers with more data insights, remote access, and 3