Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 133

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 133
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11.8 million and $0.1 million for the three months ended June 30, 2023 and 2022, respectively, resulting from quarterly mark-to-market adjustments. The public warrant liability was established in connection with the closing of the Merger.

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Comparison of the Six Months Ended June 30, 2023 and 2022

The following table summarizes our results of operations for the six months ended June 30, 2023 and 2022, (in thousands):

Six Months EndedJune 30,20232022$ Change% Change(Restated)(Restated)Revenue:Product revenue$17,464 $9,358 $8,106 87 %Subscription revenue13,875 6,776 7,099 105 Service revenue6,405 1,108 5,297 478 License fee and other revenue1,280 389 891 229 Total revenue39,024 17,631 21,393 121 Cost of revenue:Cost of product revenue19,779 10,553 9,226 87 Cost of subscription revenue5,619 3,549 2,070 58 Cost of service revenue1,597 1,152 445 39 Cost of license fee and other revenue574 1,102 (528)(48)Total cost of revenue27,569 16,356 11,213 69 Gross profit11,455 1,275 10,180 798 Operating expenses:Research and development11,784 8,549 3,235 38 Sales and marketing26,234 21,277 4,957 23 General and administrative19,793 20,391 (598)(3)Loss from impairment of property and equipment294 849 (555)(65)Total operating expenses58,105 51,066 7,039 14 Loss from operations(46,650)(49,791)3,141 6 Other (expense) income, net:Interest expense(654)(301)(353)(117)Interest income2,806 559 2,247 402 Other expense, net(3)— (3)*Loss on extinguishment of debt(626)— (626)*Change in fair value of contingent earn-out liability(31,431)2,509 (33,940)(1,353)Change in fair value of contingently