Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 142

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 142
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89

Comparison of the Three Months Ended September 30, 2022 and 2021

The following table summarizes our results of operations for the three months ended September 30, 2022 and 2021, (in thousands):

Three Months EndedSeptember 30,20222021$ Change% Change(Restated)Revenue:Product revenue$9,607 $5,395 $4,212 78 %Subscription revenue5,105 2,312 2,793 121 Service revenue1,303 300 1,003 334 License fee and other revenue281 417 (136)(33)Total revenue16,296 8,424 7,872 93 Cost of revenue:Cost of product revenue13,064 2,967 10,097 340 Cost of subscription revenue2,177 1,277 900 70 Cost of service revenue500 193 307 159 Cost of license fee and other revenue638 520 118 23Total cost of revenue16,379 4,957 11,422 230 Gross profit(83)3,467 (3,550)(102)Operating expenses:Research and development5,182 3,612 1,570 43 Sales and marketing11,969 10,024 1,945 19 General and administrative9,093 7,535 1,558 21 Loss from impairment of property and equipment189 1,656 (1,467)(89)Total operating expenses26,433 22,827 3,606 16 Loss from operations(26,516)(19,360)(7,156)(37)Other income (expense), net:Interest expense(188)(295)107 36 Interest income1,052 — 1,052 *Other income (expense), net(57)(669)612 91 Loss on extinguishment of debt— (865)865 *Change in fair value of derivative liability— 475 (475)*Change in fair value of contingent earn-out liability7,245 32,609 (25,364)(78)Change in fair value of contingently issuable common stock liability1,081 5,718 (4,637)(81)Change in fair value of public warrant liability(1,146)3,152 (4,298)(136)Change in fair value