Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 255

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
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 Income Taxes

The provision for income taxes for the three months ended March 31, 2025 and 2024 was immaterial. The Company continues to maintain a full valuation allowance against its deferred tax assets, as it is not more likely than not that these assets will be realized.The Company’s tax provision and resulting effective tax rate for interim periods are determined using the estimated annual effective tax rate (“AETR”), which is updated each quarter and adjusted for discrete items recognized in the period. The AETR is based on the forecasted full-year pre-tax income and anticipated tax expense. Variability in the effective tax rate between quarters may result from differences between actual and projected earnings or losses, as well as the timing and nature of discrete items. If the estimated AETR changes during a quarter, the Company records a cumulative adjustment to the tax provision in that period.The Company's income tax provision reflects an estimate of federal, state, and foreign income taxes based on enacted tax rates in the jurisdictions in which we operate. The provision is adjusted for the impact of allowable tax credits and deductions, uncertain tax positions, changes in deferred tax assets and liabilities, and changes in tax law. The Company has historically incurred net operating losses.

12. Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):Three Months Ended March 31,20252024(Restated)Numerator:Net loss attributable to common stockholders – basic and diluted$(1,689)$(11,272)Denominator:Weighted average common shares outstanding - basic and diluted160,808,391 153,076,719 Net loss per share attributable to common stockholders – basic and diluted$(0.01)$(0.07)

F-22

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

The following potentially dilutive outstanding securities were excluded from the computation of diluted net (loss) income per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:Three Months EndedMarch 31,20252024Options issued and outstanding17,435,32922,522,005 Public Warrants to purchase common stock14,324,893 14,324,893 Warrants to purchase