Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 184

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 184
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 and errors on the Condensed Consolidated Statements of Cash Flows were driven by changes in the related Consolidated Balance Sheet and Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) line items, except as noted by footnote under each applicable table below.Where adjustments in the below tables relate to multiple categories, the adjustment amounts of each category are noted below each table and sum to the total adjustment reflected. Restatement adjustments are reflected as follows:ADJ 1: related to revenue recognition misstatements identified as part of the Investigation.ADJ 2: other immaterial errors previously identified in prior periods corrected as part of the restatement.ADJ 3: related to classification errors in contract assets and deferred revenue.

F-12

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

As of the Year Ended December 31, 2023Restated Consolidated Balance Sheet(In thousands, except share and per share amounts)

F-13

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

As of December 31, 2023Adj. Reference(a)As ReportedAdjustmentAs RestatedAssetsCurrent assets:Cash and cash equivalents$67,162 $— $67,162 Restricted cash275 — 275 Marketable securities51,289 — 51,289 Accounts receivable, netADJ 1, ADJ 322,611 (1,064)21,547 InventoryADJ 19,507 837 10,344 Current portion of contract assetsADJ 1, ADJ 33,707 (2,310)1,397 Current portion of commission assetADJ 14,339 48 4,387 Prepaid expenses and other current assetsADJ 116,954 3 16,957 Total current assets175,844 (2,486)173,358 Contract assets, noncurrentADJ 1, ADJ 3451 513 964 Commission asset, noncurrentADJ 17,107 142 7,249 Property and equipment, netADJ 1, ADJ 2112,921 240 113,161 Operating lease right-of-use assets1,195 — 1,195 Other assets1,202