Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 273

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 273
---
 (as restated) during the three and six months ended June 30, 2024, respectively, that was included in the December 31, 2023 deferred revenue balance. The following table provides a rollforward of deferred revenue (in thousands):Balance at December 31, 2024$84,772 Revenue recognized in relation to the beginning of the year contract liability balance(44,110)Revenue deferred50,710 Balance at June 30, 2025$91,372 The following table presents the Company’s components of lease revenue (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024(Restated)(Restated)Interest income on lease receivables$27 $41 $56 $83 Lease income - operating leases20,200 15,655 39,437 29,874 Total lease revenue$20,227 $15,696 $39,493 $29,957 The interest income on lease receivables is classified under interest income in the condensed consolidated statements of operations and comprehensive loss. Lease income from operating leases is related to the leased equipment 

F-18

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

under subscription arrangements and is classified as subscription revenue in the condensed consolidated statements of operations and comprehensive loss. Revenue related to leases entered into with related parties was $0.3 million and $0.6 million during the three and six months ended June 30, 2024, respectively. There was no revenue related to leases entered into with related parties during the three and six months ended June 30, 2025. Disaggregated RevenueThe following table presents the Company’s revenue by revenue stream (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024(Restated)(Restated)Product revenue$2,528 $1,954 $4,850 $3,445 Subscription revenue20,200 15,655 39,437 29,874 Service revenue6,686 5,566 13,416 10,818 License fees2,291 1,717 5,494 2,441 Professional services and other revenue839 332 1,354 827 Total revenue$32,544