Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 185

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 185
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 arising from obtaining right-of-use assets1,694 — 1,694 Reconciliation of cash, cash equivalents and restricted cash:Cash and cash equivalents$44,596 $— $44,596 Restricted cash, noncurrent275 — 275 Total cash, cash equivalents and restricted cash shown in the statements of cash flows$44,871 $— $44,871 (1) Relates to adjustments related to ADJ 2.(2) Relates to adjustments related to ADJ 4.

3. Summary of Significant Accounting Policies

Significant Accounting PoliciesThe significant accounting policies and estimates used in preparation of the unaudited condensed consolidated financial statements are described in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2024, and the notes thereto, which are included in our 2024 Form 10-K. Except for the estimates used to determine the grant date valuation for certain market-based stock units (“MSUs”), as described below, which began being granted during the three months ended March 31, 2025, there have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2025.Market-based Stock UnitsThe estimated grant date fair value of MSUs granted by the Company is determined using a Monte Carlo simulation that simulates the future path of the Company’s stock price throughout the performance period. The assumptions utilized in the calculation are based on the achievement of certain stock price milestones including expected stock price volatility, risk-free rate of return, and remaining term.Recently Issued Accounting PronouncementsIn December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. Early adoption is permitted. A public entity may apply the amendments in ASU 2023-09 either prospectively to all annual periods beginning after December 15, 2024, or retrospectively to prior periods. The Company determined that ASU 2023-09 is applicable and will be adopted in our Annual Report on Form 10-K for the year ended December 31, 2025. It addresses disclosures only, the Company expects it