Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 129

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 129
---
 ended June 30, 2023 and 2022 (in thousands):

Three Months EndedJune 30,20232022$ Change% Change(Restated)(Restated)Revenue:Product revenue$6,852 $4,164 $2,688 65 %Subscription revenue7,702 3,772 3,930 104 Service revenue3,646 782 2,864 366 License fee and other revenue702 203 499 246 Total revenue18,902 8,921 9,981 112 Cost of revenue:Cost of product revenue7,417 5,347 2,070 39 Cost of subscription revenue3,285 2,007 1,278 64 Cost of service revenue1,014 467 547 117 Cost of license fee and other revenue270 722 (452)(63)Total cost of revenue11,986 8,543 3,443 40 Gross profit6,916 378 6,538 1,730 Operating expenses:Research and development6,389 4,374 2,015 46 Sales and marketing13,596 11,605 1,991 17 General and administrative10,865 9,574 1,291 13 Loss from impairment of property and equipment157 753 (596)(79)Total operating expenses31,007 26,306 4,701 18 Loss from operations(24,091)(25,928)1,837 7 Other income (expense), net:Interest expense— (159)159 *Interest income1,853 491 1,362 277 Other income (expense), net(22)— (22)*Change in fair value of contingent earn-out liability(28,113)(569)(27,544)(4,841)Change in fair value of contingently issuable common stock liability(5,095)(24)(5,071)(21,129)Change in fair value of public warrant liability(11,751)(143)(11,608)(8,117)Total other income (expense), net(43,128)(404)(42,724)(10,575)Net loss$(67,219)$(26,332)$(40,887)(155)%Gross profit margin:Product revenue(8) %(28) %N/A20 %Subscription revenue57