Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 177

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 177
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 value; 1,100,000,000 shares authorized at September 30, 2025 and December 31, 2024; 173,803,265 and 159,602,069 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively17 16 Additional paid-in capital501,040 472,331 Accumulated other comprehensive loss(137)(32)Accumulated deficit(398,684)(354,664)Stockholders’ equity102,236 117,651 Total liabilities and stockholders’ equity$304,289 $268,059 

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

F-1

Table of Contents

EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

(Unaudited)

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue:Product revenue$9,242 $1,344 $14,092 $4,789 Subscription revenue22,685 17,909 62,122 47,783 Service revenue7,808 6,085 21,224 16,903 License fee and other revenue3,115 2,022 9,963 5,290 Total revenue*42,850 27,360 107,401 74,765 Cost of revenue:Cost of product revenue7,960 2,616 16,495 8,569 Cost of subscription revenue10,923 7,348 27,713 19,242 Cost of service revenue2,338 1,404 5,753 3,749 Cost of license fee and other revenue323 183 766 484 Total cost of revenue21,544 11,551 50,727 32,044 Gross profit21,306 15,809 56,674 42,721 Operating expenses:Research and development5,608 5,810 15,207 18,056 Sales and marketing11,715 14,966 34,494 47,182 General and administrative12,579 13,976 44,789 39,843 Restructuring costs— — 2,662 860