Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001628280-25-020353
Chunk: 170

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)September 30, 2024December 31, 2023(Restated)AssetsCurrent assets:Cash and cash equivalents$46,033 $67,162 Restricted cash275 275 Marketable securities9,960 51,289 Accounts receivable, net of allowance for expected credit losses of $953 and $582 as of September 30, 2024 and December 31, 2023, respectively*34,855 21,547 Inventory16,276 10,344 Current portion of contract assets696 1,397 Current portion of commission asset5,256 4,387 Prepaid expenses and other current assets21,050 16,957 Total current assets134,401 173,358 Contract assets, noncurrent672 964 Commission asset, noncurrent7,385 7,249 Property and equipment, net120,842 113,161 Operating lease right-of-use assets14,297 1,195 Other assets869 1,202 Total assets$278,466 $297,129 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$8,619 $17,400 Accrued expenses and other current liabilities17,016 15,703 Current portion of deferred revenue61,649 46,808 Current portion of operating lease liabilities2,191 1,391 Total current liabilities89,475 81,302 Deferred revenue, noncurrent23,867 25,149 Operating lease liabilities, noncurrent12,372 — Contingent earn-out liability14,027 29,119 Contingently issuable common stock liability4,312 6,530 Public warrant liability5,428 10,889 Total liabilities149,481 152,989 Commitments and contingencies (Note 16)Stockholders’ equity:  Preferred stock, $0.0001 par value; 100,000,000 authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023— — Common stock, $0.0001 par value; 1,100,000,000 shares authorized