Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 358

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 358
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 assets primarily due to prepaid deposits related to orders placed for Evolv Express units; 

•$1.9 million decrease in accrued expenses and other current liabilities primarily due to the payment of 2023 bonuses and commissions during the three months ended March 31, 2024; partially offset by

•$2.2 million decrease in accounts receivable primarily due to increased collections and timing of billings to customers.

Investing Activities

During the three months ended March 31, 2025, cash provided by investing activities was $9.4 million, consisting of $12.7 million for the purchase of property and equipment, primarily related to the purchase of Evolv Express units to be leased to customers and $1.6 million for the development of internal-use software and software embedded in products to be sold or leased, offset by $4.9 million of net cash provided by purchases and redemptions of marketable securities.

13

During the three months ended March 31, 2024, cash used in investing activities was $6.7 million, consisting primarily of $19.8 million for the purchase of property and equipment, primarily related to the purchase of Evolv Express units to be leased to customers and $1.6 million for the development of internal-use software and software embedded in products to be sold or leased, partially offset by a net $14.7 million inflow related to purchases and redemptions of marketable securities.

Financing Activities

During the three months ended March 31, 2025, cash provided by financing activities was less than $0.1 million, consisting of proceeds from the exercise of stock options.

During the three months ended March 31, 2024, cash used in financing activities was $0.3 million, consisting of $0.3 million 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, as discussed in Note 3 Summary of Significant Accounting Policies, there have been no material changes to our critical accounting estimates during the three months