Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 171

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 171
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 at September 30, 2024 and December 31, 2023; 158,288,746 and 151,310,080 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively16 15 Additional paid-in capital468,041 444,825 Accumulated other comprehensive loss(128)(53)Accumulated deficit(338,944)(300,647)Stockholders’ equity128,985 144,140 Total liabilities and stockholders’ equity$278,466 $297,129 

*Includes related party accounts receivable, net of $1.1 million and $2.2 million as of September 30, 2024 and December 31, 2023, respectively.

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) INCOME

(In thousands, except share and per share amounts)

(Unaudited)

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2024202320242023(Restated)(Restated)Revenue:Product revenue$1,344 $3,456 $4,789 $20,920 Subscription revenue17,909 9,858 47,783 23,733 Service revenue6,085 4,345 16,903 10,750 License fee and other revenue2,022 2,302 5,290 3,582 Total revenue *27,360 19,961 74,765 58,985 Cost of revenue:Cost of product revenue2,616 3,496 8,569 23,275 Cost of subscription revenue7,348 4,157 19,242 9,776 Cost of service revenue1,404 1,219 3,923 2,816 Cost of license fee and other revenue183 198 484 772 Total cost of revenue11,551 9,070 32,218 36,639 Gross profit15,809 10,891 42,547 22,346 Operating expenses:Research and development5,810 6,386 18,056 18,170 Sales and marketing14,966 14,408 47