Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 199

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 199
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 Tech and the SaaS and maintenance subscription contracts.

F-17

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

Remaining Performance ObligationsThe following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 30, 2025:Less than 1 year1 - 2 yearsMore than 2 yearsTotalProduct revenue$5,193 $— $— $5,193 Subscription revenue81,278 65,764 55,269 202,311 Service revenue29,277 20,787 17,148 67,212 License fee and other revenue440 99 196 735 Total revenue$116,188 $86,650 $72,613 $275,451 Contract Balances from Contracts with CustomersContract assets arise from unbilled amounts in customer arrangements when revenue recognized exceeds the amount billed to the customer and the Company’s right to payment is conditional and not only subject to the passage of time.  As of June 30, 2025 and December 31, 2024, the Company had $0.8 million and $0.8 million in current portion of contract assets and $0.8 million and $0.7 million in contract assets, noncurrent on the condensed consolidated balance sheets, respectively.Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which it has received consideration (or the amount is due) from the customer. The Company has a contract liability related to service revenue, which consists of amounts that have been invoiced but that have not been recognized as revenue. Amounts expected to be recognized as revenue within 12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as deferred revenue, noncurrent. The Company recognized revenue of $19.4 million and $44.1 million during the three and six months ended June 30, 2025, respectively, that was included in the December 31, 2024 deferred revenue balance. The Company recognized revenue of $13.8 million (as restated) and $30.7 million (as restated) during the three and six months ended June 30, 2024, respectively, that was included in