Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 241

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 241
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 INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

Research and development: ADJ 2 = $249, ADJ 4 =  ($58)Sales and marketing: ADJ 1 = ($11), ADJ 4 = ($135)Restated Condensed Consolidated Statement of Cash Flows(In thousands)Three Months Ended March 31, 2024As ReportedAdjustmentAs RestatedCash flows from operating activities:Net loss$(11,644)$372 $(11,272)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization3,474 (17)3,457 Write-off of inventory and change in inventory reserve1,059 — 1,059 Stock-based compensation6,410 20 6,430 Amortization (accretion) of premium (discount) on marketable securities, net of change in accrued interest200 — 200 Non-cash lease expense354 — 354 Change in allowance for expected credit losses(267)— (267)Change in fair value of earn-out liability(6,899)— (6,899)Change in fair value of contingently issuable common stock(527)— (527)Change in fair value of public warrant liability(2,151)— (2,151)Changes in operating assets and liabilitiesAccounts receivable848 1,309 2,157 Inventory(2,091)331 (1,760)Commission assets(70)(19)(89)Contract assets1,313 (1,033)280 Other assets203 — 203 Prepaid expenses and other current assets(3,746)8 (3,738)Accounts payable(760)65 (695)Deferred revenue231 (789)(558)Accrued expenses and other current liabilities(1,628)(315)(1,943)Operating lease liability(392)— (392)Net cash used in operating activities(16,083)(68)(16,151)Cash flows from investing activities:Development of internal-use software(1)(1,797)230 (1,567)Purchases of property and equipment(2)(19,665)(162)(19,827)Purchases of marketable securities(14,567)— (14,567)Proceeds from maturities of marketable securities29,241 — 29,241