Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 190

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 8
Chunk 190
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331 444,825 Accumulated other comprehensive loss(32)(53)Accumulated deficit(354,664)(300,647)Stockholders’ equity117,651 144,140 Total liabilities and stockholders’ equity$268,059 $297,129 

*Includes related party accounts receivable, net of $2.2 million as of December 31, 2023.

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

117

EVOLV TECHNOLOGIES HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

December 31,202420232022(Restated)(Restated)Revenue:Product revenue$6,464 $22,768 $29,787 Subscription revenue65,046 36,201 17,041 Service revenue23,467 15,606 4,595 License fee and other revenue8,888 4,990 1,296 Total revenue *103,865 79,565 52,719 Cost of revenue:Cost of product revenue10,735 27,967 39,437 Cost of subscription revenue27,846 14,760 7,460 Cost of service revenue5,399 3,982 2,200 Cost of license fee and other revenue597 949 2,222 Total cost of revenue44,577 47,658 51,319 Gross profit59,288 31,907 1,400 Operating expenses:Research and development23,446 24,473 18,537 Sales and marketing61,291 54,986 46,683 General and administrative56,634 42,182 37,969 Loss from impairment of property and equipment224 322 1,161 Total operating expenses141,595 121,963 104,350 Loss from operations(82,307)(90,056)(102,950)Other income (expense), net:Interest expense— (654)(712)Interest income2,942 6,227 3,165 Other expense, net(83)(84)(64)Loss on extinguishment of debt— (626)— Change in fair value of contingent earn-out liability16,310 (14,901)6,988 Change in fair value of contingently issuable common stock liability2,