Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 228

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 228
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, whereas the restructuring costs for these services has previously been included in cost of service revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses. These reclassifications were made to align the presentation of restructuring charges with the Company's internal reporting and analysis. See Note 1, Nature of the Business and Basis of Presentation for additional information.

7

Results of Operations

Comparison of the Three Months Ended June 30, 2025 and 2024

The following table summarizes our results of operations for the three months ended June 30, 2025 and 2024 (in thousands):Three Months EndedJune 30,20252024$ Change% Change(Restated)Revenue:Product revenue$2,528 $1,954 $574 29 %Subscription revenue20,200 15,655 4,545 29 Service revenue6,686 5,566 1,120 20 License fee and other revenue3,130 2,049 1,081 53 Total revenue32,544 25,224 7,320 29 Cost of revenue:Cost of product revenue5,351 2,839 2,512 88 Cost of subscription revenue8,894 6,309 2,585 41 Cost of service revenue1,710 1,147 563 49 Cost of license fee and other revenue371 172 199 116 Total cost of revenue16,326 10,467 5,859 56 Gross profit16,218 14,757 1,461 10 Operating expenses:Research and development4,737 5,850 (1,113)(19)Sales and marketing11,736 16,357 (4,621)(28)General and administrative17,238 14,061 3,177 23 Restructuring costs— 860 (860)(100)Total operating expenses33,711 37,128 (3,417)(9)Loss from operations(17,493)(22,371)4,878 22 Other (expense) income, net:Interest income224 681 (457)(67)Other income (expense), net136 (39)175 449 Change in fair value of contingent earn-out liability(14,200)16,514 (30,714)(186)Change in fair value of contingently issuable common stock liability