Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 176

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 176
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EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)September 30, 2025December 31, 2024AssetsCurrent assets:Cash and cash equivalents$31,504 $37,015 Marketable securities24,723 14,927 Accounts receivable, net of allowance for expected credit losses of $800 and $734 as of September 30, 2025 and December 31, 2024, respectively48,883 28,392 Inventory8,770 16,963 Current portion of contract assets1,212 799 Current portion of commission asset5,956 5,429 Prepaid expenses and other current assets30,593 17,921 Total current assets151,641 121,446 Contract assets, noncurrent381 657 Commission asset, noncurrent7,759 7,567 Property and equipment, net126,919 123,661 Operating lease right-of-use assets12,730 13,993 Other assets4,859 735 Total assets$304,289 $268,059 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$4,724 $10,492 Accrued expenses and other current liabilities33,954 19,508 Current portion of deferred revenue77,904 64,506 Current portion of operating lease liabilities2,765 2,203 Total current liabilities119,347 96,709 Deferred revenue, noncurrent18,464 20,266 Long-term debt, noncurrent28,528 — Operating lease liabilities, noncurrent11,107 12,326 Contingent earn-out liability, noncurrent10,512 12,809 Contingently issuable common stock liability, noncurrent3,638 4,001 Public warrant liability, noncurrent10,457 4,297 Total liabilities202,053 150,408 Commitments and contingencies (Note 14)Stockholders’ equity:  Preferred stock, $0.0001 par value; 100,000,000 authorized at September 30, 2025 and December 31, 2024; no shares issued and outstanding at September 30, 2025 and December 31, 2024— — Common stock, $0.0001 par