Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 404

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 404
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 $0.3 million as a security deposit on the leased space. This amount was previously classified as restricted cash, non-current, as shown in the condensed consolidated statement of cash flows as of March 31, 2024. Total future minimum lease payments under this noncancelable operating lease amount to $17.9 million as of September 30, 2025.

We generally contract with our contract manufacturer, Columbia Tech, on a cancellable purchase-order basis to provide manufacturing services for our equipment sold or leased to customers. While these contracts are cancellable by us upon prior notice, payments due upon cancellation may consist of payments for services provided or expenses incurred, including noncancelable obligations of our service providers, up to the date of cancellation. Additionally, the recently executed agreement with the Company's new contract manufacturer, Plexus, includes provisions for which order volumes that fall short of our forecasts may result in purchase commitments. These payments are not determinable, but could result in a material purchase commitment if we were to cancel our open purchase orders.

Cash Flows

The following table sets forth a summary of cash flows for the periods presented:

Nine Months EndedSeptember 30,20252024Net cash provided by (used in) operating activities$3,098 $(34,057)Net cash (used in) provided by investing activities(43,226)11,852 Net cash provided by financing activities34,722 1,151 Effect of exchange rate changes on cash and cash equivalents(105)(75)Net decrease in cash, cash equivalents and restricted cash$(5,511)$(21,129)

Operating Activities

Nine Months EndedSeptember 30,20252024Net loss$(44,020)$(38,297)Adjustments to reconcile net loss to net cash provided by (used in) operating activities44,660 15,634 Changes in operating assets and liabilities2,458 (11,394)Net cash provided by (used in) operating activities$3,098 $(34,057)

Net loss increased from $38.3 million for the nine months ended September 30, 2024 to $44.0 million for the nine months ended September 30, 2025, as discussed in “Results of Operations” above.

Adjustments to reconcile net loss to net cash used in operating activities for the nine months ended September 30, 2025 include $3.9 million of an aggregate change in fair value of the earn-out liability, contingently issuable/return