Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 174

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 174
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EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)June 30, 2025December 31, 2024AssetsCurrent assets:Cash and cash equivalents$36,942 $37,015 Marketable securities— 14,927 Accounts receivable, net of allowance for expected credit losses of $900 and $734 as of June 30, 2025 and December 31, 2024, respectively41,802 28,392 Inventory12,142 16,963 Current portion of contract assets847 799 Current portion of commission asset5,592 5,429 Prepaid expenses and other current assets35,756 17,921 Total current assets133,081 121,446 Contract assets, noncurrent845 657 Commission asset, noncurrent7,331 7,567 Property and equipment, net125,478 123,661 Operating lease right-of-use assets13,149 13,993 Other assets538 735 Total assets$280,422 $268,059 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$11,804 $10,492 Accrued expenses and other current liabilities38,170 19,508 Current portion of deferred revenue72,164 64,506 Current portion of operating lease liabilities2,716 2,203 Current portion of contingent earn-out liability18,033 — Total current liabilities142,887 96,709 Deferred revenue, noncurrent19,208 20,266 Operating lease liabilities, noncurrent11,550 12,326 Contingent earn-out liability, non-current— 12,809 Contingently issuable common stock liability6,248 4,001 Public warrant liability7,879 4,297 Total liabilities187,772 150,408 Commitments and contingencies (Note 14)Stockholders’ equity:  Preferred stock, $0.0001 par value; 100,000,000 authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024— — Common stock, $0.0001 par value; 1,100,000,000 shares authorized at