Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 207

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 207
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,324,893 Warrants to purchase common stock (Finback)117,423 1,317,327 117,423 1,590,984 Unvested restricted stock units15,473,291 397,771 15,473,291 12,097,108 Unvested performance stock units— — — 386,000 Earn-out shares*15,000,000 15,000,000 15,000,000 15,000,000 Contingently issuable common stock*1,897,500 1,897,500 1,897,500 1,897,500 67,776,861 32,937,491 67,776,861 66,359,529 *Issuance of Earn-out shares and Contingently issuable common stock is contingent upon the satisfaction of certain conditions, which were not satisfied by the end of the period

F-31

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

15. Related Party Transactions

Original Equipment Manufacturer Partnership Agreement with MotorolaIn December 2020, the Company entered into an original equipment manufacturer partnership agreement with Motorola Solutions, Inc. (“Motorola”), an investor in the Company. The partnership agreement has since been amended and restated. Motorola sells Motorola-branded premium products based on the Evolv Express platform through their worldwide network of over 2,000 resellers and integration partners, and has integrated the Evolv Express platform with Motorola products. During the three months ended September 30, 2024 and 2023, revenue from Motorola's distributor services was $2.2 million and $1.7 million, respectively. During the nine months ended September 30, 2024 and 2023, revenue from Motorola's distributor services was $6.1 million and $7.9 million, respectively, which was a result of the Company's transition to pure subscription sales and sales under the distributor licensing model during this period. As of September 30, 2024 and December 31, 2023, accounts receivable related to Motorola’s distributor services was $1.1 million and $1.6 million, respectively.Reseller Agreement with Stanley Black & Decker

In June 2020, the Company entered into a reseller agreement with Stanley Black & Decker,