Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 182

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 182
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: related to errors in capitalized freight costs.ADJ 4: other immaterial errors previously identified in prior periods corrected as part of the restatement.

F-9

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

For the Three Months Ended March 31, 2024Restated Condensed Consolidated Statement of Operations and Comprehensive Loss Data(In thousands, except share and per share amounts)Three Months Ended March 31, 2024Adj. Reference(a)As ReportedAdjustmentAs RestatedRevenue:Product revenueADJ 1$603 $888 $1,491 Subscription revenueADJ114,503 (284)14,219 Service revenueADJ15,384 (132)5,252 License fee and other revenueADJ11,178 41 1,219 Total revenue21,668 513 22,181 Cost of revenue:Cost of product revenueADJ 1, ADJ 3, ADJ 42,777 337 3,114 Cost of subscription revenueADJ 1, ADJ 2, ADJ 3, ADJ 45,779 (194)5,585 Cost of service revenueADJ 2, ADJ 41,211 (13)1,198 Cost of license fee and other revenue129 — 129 Total cost of revenue9,896 130 10,026 Gross profit11,772 383 12,155 Operating expenses:Research and developmentADJ 2, ADJ 46,205 191 6,396 Sales and marketingADJ 1, ADJ 416,005 (146)15,859 General and administrativeADJ 411,840 (34)11,806 Total operating expenses34,050 11 34,061 Loss from operations(22,278)372 (21,906)Other income (expense), net:Interest income1,085 — 1,085 Other expense, net(28)— (28)Change in fair value of contingent earn-out liability6,899 — 6,899 Change in fair value of contingently issuable common stock liability527 — 527 Change in fair value of public warrant liability2,151 — 2,151 Total other income (expense), net