Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 215

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 215
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M is its President and Chief Executive Officer. The CODM evaluates the performance of our segment based upon consolidated net income and considers budget-to-actual or forecast-to-actual variances to assess performance and make decisions about allocating resources. The CODM evaluates segment assets based on total assets on the condensed consolidated balance sheets. Asset information is not presented here because its presentation here would be duplicative of the condensed consolidated balance sheets. On the basis of these factors, the Company determined that it operates and manages its business as one operating and reporting segment, that develops, manufactures, markets and sells security screening products and specific services, and accordingly has one reportable segment for financial reporting purposes.Information by reportable segment is as follows (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024(As Restated)(As Restated)Segment revenue$32,544 $25,224 $64,551 $47,405 Less: Employee expense15,739 17,819 32,108 35,660 Travel and expense1,101 1,674 1,892 3,188 Capitalized R&D expense(1,361)(1,568)(2,850)(3,022)Stock-based compensation expense15,547 7,427 9,901 13,857 Other non-recurring expenses26,812 2,287 10,373 3,967 Consulting and contract staffing3,046 3,120 6,323 6,436 Software subscriptions1,569 1,637 3,104 3,095 Depreciation and amortization5,790 3,901 11,319 7,358 Restructuring costs— 860 2,662 860 Disposal of property and equipment1,312 — 1,633 — Other cost of revenue6,894 5,261 12,014 9,274 Other operating expenses3,588 5,177 7,954 11,009 Other segment items323,042 (25,789)10,342 (36,423)Segment net (loss) income$(40,535)$3,418 $(42,224)$(7,854)1 Excludes incremental expense related to modified awards included in the Restructuring costs line. See Note 16, Restructuring Charges for additional information.

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