Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 170

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)March 31, 2025December 31, 2024AssetsCurrent assets:Cash and cash equivalents$25,089 $37,015 Marketable securities9,931 14,927 Accounts receivable, net of allowance for expected credit losses of $775 and $734 as of March 31, 2025 and December 31, 2024, respectively34,475 28,392 Inventory10,056 16,963 Current portion of contract assets905 799 Current portion of commission asset5,355 5,429 Prepaid expenses and other current assets17,958 17,921 Total current assets103,769 121,446 Contract assets, noncurrent872 657 Commission asset, noncurrent7,438 7,567 Property and equipment, net129,681 123,661 Operating lease right-of-use assets13,569 13,993 Other assets653 735 Total assets$255,982 $268,059 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$7,115 $10,492 Accrued expenses and other current liabilities19,378 19,508 Current portion of deferred revenue65,489 64,506 Current portion of operating lease liabilities2,416 2,203 Total current liabilities94,398 96,709 Deferred revenue, noncurrent19,783 20,266 Operating lease liabilities, noncurrent11,983 12,326 Contingent earn-out liability3,833 12,809 Contingently issuable common stock liability2,348 4,001 Public warrant liability2,576 4,297 Total liabilities134,921 150,408 Commitments and contingencies (Note 14)Stockholders’ equity:  Preferred stock, $0.0001 par value; 100,000,000 authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024— — Common stock, $0.0001 par value; 1,100,000,000 shares authorized at March 31, 2025 and December 31,