Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 175

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 175
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67,219)(67,219)Balances at June 30, 2023 (restated)149,790,742 $15 $431,784 $(43)$(288,495)$143,261 Issuance of common stock upon net exercise of stock options731,870 — 273 — — 273 Issuance of common stock upon vesting of restricted stock units138,512 — — — — — Stock-based compensation cost (restated)— — 6,116 — — 6,116 Cumulative translation adjustment— — — 34 — 34 Net income (restated)— — — — 5,046 5,046 Balances at September 30, 2023 (restated)150,661,124 $15 $438,173 $(9)$(283,449)$154,730 

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-5

EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)Nine Months EndedSeptember 30,20242023(Restated)Cash flows from operating activities:Net loss$(38,297)$(90,850)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization11,933 6,570 Write-off of inventory and change in inventory reserve3,151 278 Loss from impairment of property and equipment209 322 Stock-based compensation21,364 17,771 Non-cash interest expense— 22 Amortization (accretion) of premium (discount) on marketable securities, net of change in accrued interest261 (482)Non-cash lease expense1,116 136 Change in allowance for expected credit losses371 237 Loss on extinguishment of debt— 626 Change in fair value of earn-out liability(15,092)17,353 Change in fair value of contingently issuable common stock(2,218)3,560 Change in fair value of public warrant liability(5,461)5,345 Changes in operating assets and liabilitiesAccounts receivable(13,679)(929)Inventory(8,327)4,170 Commission assets(1,005)(2,102)Contract assets