Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 164

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 164
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 anticipate fulfilling such commitments with our existing cash, cash equivalents, and marketable securities, as well as cash and cash equivalents obtained through operations and, if necessary, 

106

proceeds from long-term debt. Cash, cash equivalents, and marketable securities amounted to $51.9 million as of December 31, 2024.

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, during the three months ended September 30, 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. As of December 31, 2024, the process of cancelling the letter of credit underlying the minimum cash balance requirement was completed. This amount was previously classified as restricted cash, non-current as of December 31, 2023. Total future minimum lease payments under this noncancelable operating lease amount to $19.6 million as of December 31, 2024.

Cash Flows

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

Year EndedDecember 31,202420232022(Restated)(Restated)Net cash used in operating activities$(30,853)$(9,801)$(74,740)Net cash used in investing activities(1,399)(123,113)(23,869)Net cash provided by (used in) financing activities1,809 (29,664)20,510 Effect of exchange rate changes on cash and cash equivalents21 (43)(10)Net increase (decrease) in cash, cash equivalents and restricted cash$(30,422)$(162,621)$(78,109)

Operating Activities

Year EndedDecember 31,202420232022(Restated)(Restated)Net loss$(54,017)$(108,048)$(86,795)Non-cash expense22,504 59,199 17,331 Changes in operating assets and liabilities660 39,048 (5,276)Net cash used in operating activities$(30