Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 356

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 356
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 from long-term debt. Cash, cash equivalents, and marketable securities amounted to $35.0 million as of March 31, 2025.

We are party to a lease agreement for office space at our headquarters in Waltham, MA. During the three months ended March 31, 2024, we amended the lease agreement to extend the term through October 31, 2025, with the option to further extend through June 30, 2031 with written notice. Additionally, in August 2024, we amended the lease agreement again to expand our footprint in our headquarters and extend the term of the lease through May 2031. Per the second lease amendment, we are no longer required to maintain a minimum cash balance of $0.3 million as a security deposit on the leased space. This amount was previously classified as restricted cash, non-current, as shown in the condensed consolidated statement of cash flows as of March 31, 2024. Total future minimum lease payments under this noncancelable operating lease amount to $19.1 million as of March 31, 2025.

We generally contract with our contract manufacturer, Columbia Tech, on a cancellable, purchase-order basis. We have a contract in the normal course of business with Columbia Tech to provide manufacturing services for our equipment sold or leased to customers. While these contracts are cancellable by us upon prior notice, payments due upon cancellation consist of payments for services provided or expenses incurred, including noncancelable obligations of our service providers, up to the date of cancellation. These payments are not determinable, but could result in a material purchase commitment if we were to cancel our open purchase orders.

Cash Flows

The following table sets forth a summary of cash flows for the periods presented:

Three Months EndedMarch 31,20252024(Restated)Net cash used in operating activities$(2,539)$(16,151)Net cash used in investing activities(9,361)(6,720)Net cash provided by financing activities20 302 Effect of exchange rate changes on cash and cash equivalents(46)3 Net decrease in cash, cash equivalents and restricted cash$(11,926)$(22,566)

12

Operating Activities

Three Months EndedMarch 31,20252024(Restated)Net loss$(1,689)$(11,272)Non-cash expense(1,082)1,656 Changes in operating assets and liabilities232 (6,535)Net cash used in