Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 171

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 171
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 2024; 163,273,142 and 159,602,069 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively16 16 Additional paid-in capital477,476 472,331 Accumulated other comprehensive loss(78)(32)Accumulated deficit(356,353)(354,664)Stockholders’ equity121,061 117,651 Total liabilities and stockholders’ equity$255,982 $268,059 

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-1

Table of Contents

EVOLV TECHNOLOGIES HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

(Unaudited)

Three Months EndedMarch 31,20252024(As Restated)Revenue:Product revenue$2,322 $1,491 Subscription revenue19,237 14,219 Service revenue6,730 5,252 License fee and other revenue3,718 1,219 Total revenue *32,007 22,181 Cost of revenue:Cost of product revenue3,184 3,114 Cost of subscription revenue7,896 5,585 Cost of service revenue1,705 1,198 Cost of license fee and other revenue72 129 Total cost of revenue12,857 10,026 Gross profit19,150 12,155 Operating expenses:Research and development4,862 6,396 Sales and marketing11,043 15,859 General and administrative14,972 11,806 Restructuring costs2,662 — Total operating expenses33,539 34,061 Loss from operations(14,389)(21,906)Other income, net:Interest expense(1)— Interest income389 1,085 Other income (expense), net25 (28)Change in fair value of contingent earn-out liability8,976 6,899 Change in fair value of contingently issuable common stock liability1,653 527 Change in fair value of public warrant liability1,721 2,151 Total other income, net12,763 10,634 Loss before income taxes(1,626)(11,272)Provision for income taxes(63)— Net loss$(1,