Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 203

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 203
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2.1 million and $1.7 million of capitalized stock compensation costs, respectively. Depreciation and amortization expense related to property and equipment was $5.8 million and $3.9 million (as restated) for the three months ended June 30, 2025 and 2024, respectively, which included amortization expense of capitalized software of $0.9 million and $0.3 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation and amortization expense related to property and equipment was $11.3 million and $7.4 million for the six months ended June 30, 2025 and 2024, respectively, which included amortization expense of capitalized software of $1.8 million and $0.6 million for the six months ended June 30, 2025 and 2024, respectively. Leased equipment and the related accumulated depreciation were as follows:June 30,2025December 31,2024Leased equipment$125,781 $112,078 Accumulated depreciation(31,862)(25,726)Leased equipment, net$93,919 $86,352 Depreciation expense related to leased equipment was $4.3 million and $3.2 million during the three months ended June 30, 2025 and 2024, respectively. Depreciation expense related to leased equipment was $8.4 million and $6.0 million (as restated) during the six months ended June 30, 2025 and 2024, respectively. Depreciable lives are generally 7 years, consistent with the Company’s planned and historical usage of the equipment subject to operating leases.

F-21

Table of ContentsEVOLV TECHNOLOGIES HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

The Company recorded losses of $1.3 million and $1.6 million from disposals of property and equipment during the three and six months ended June 30, 2025, respectively, primarily related to the disposal of previously leased Evolv Express systems, which were recorded in cost of subscription revenue. The Company did not record any loss from disposal of property and equipment during the three and six months ended June 30, 2024.

10. Stock-Based Compensation

Stock OptionsThe following table presents, on a weighted average basis, the assumptions used in