Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 245

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 245
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 in accounts payable (excluding the non-cash portion related to capital expenditures incurred but not yet paid) due primarily to the timing of vendor payments; partially offset by

•$10.3 million increase in deferred revenue due to a higher volume of sales.

Investing Activities

During the six months ended June 30, 2025, cash used in investing activities was $3.6 million, consisting of $15.3 million for the purchase of property and equipment, primarily related to the purchase of Evolv Express systems to be leased to customers and $3.1 million for the development of internal-use software and software embedded in products to be sold or leased, offset by $14.8 million of net cash provided by purchases and redemptions of marketable securities.

During the six months ended June 30, 2024, cash provided by investing activities was $5.6 million (as restated), consisting primarily of a net $30.4 million inflow related to purchases and redemptions of marketable securities, offset by $21.6 million (as restated) for the purchase of property and equipment, primarily related to the purchase of Evolv Express systems to be leased to customers, and $3.1 million (as restated) for the development of internal-use software and software embedded in products to be sold or leased.

Financing Activities

During the six months ended June 30, 2025 and June 30, 2024, cash provided by financing activities was $4.1 million and  $0.6 million, respectively, consisting primarily of proceeds from the exercise of stock options.

Recent Accounting Pronouncements

There were no new accounting pronouncements that were issued or became effective since the issuance of the 2024 Form 10-K that had, or are expected to have, a material impact on its consolidated financial position, results of operations or cash flows.

Critical Accounting Estimates

Our critical accounting estimates are described in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition” of our 2024 Form 10-K. Other than disclosures related to estimating the fair value of market-based stock units and for estimating rebate liabilities, as discussed below, there have been no material changes to our critical accounting estimates during the six months ended June 30, 2025.

Market-based Stock Units

The estimated fair value of MSUs granted by the Company is determined using a Monte Carlo simulation that simulates the future path of the Company’s stock price throughout the performance period.