Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 173

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 173
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 compensation cost— — 6,605 — — 6,605 Cumulative translation adjustment— — — 3 — 3 Net loss (as restated)— — — — (11,272)(11,272)Balances at March 31, 2024 (as restated)155,356,947 $16 $451,731 $(50)$(311,919)$139,778 

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

F-3

EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)Three Months EndedMarch 31,20252024(As Restated)Cash flows from operating activities:Net loss$(1,689)$(11,272)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization5,530 3,457 Write-off of inventory and change in inventory reserve2 1,059 Loss on disposal of property and equipment321 — Stock-based compensation4,879 6,430 Amortization of premium on marketable securities, net of change in accrued interest71 200 Non-cash lease expense424 354 Change in allowance for expected credit losses41 (267)Change in fair value of earn-out liability(8,976)(6,899)Change in fair value of contingently issuable common stock(1,653)(527)Change in fair value of public warrant liability(1,721)(2,151)Changes in operating assets and liabilitiesAccounts receivable(6,124)2,157 Inventory7,172 (1,760)Commission assets203 (89)Contract assets(321)280 Other assets82 203 Prepaid expenses and other current assets(3,859)(3,738)Accounts payable2,780 (695)Deferred revenue500 (558)Accrued expenses and other current liabilities(71)(1,943)Operating lease liability(130)(392)Net cash used in operating activities(2,539)(16,151)Cash flows from investing activities:Development of internal-use software(1,556)(1,567)Purchases of property and equipment(12,730)(19,827)Purchases of marketable securities(9,875)(14,567)Proceeds from