Company: EVLVW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001628280-25-026845
Chunk: 198

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 198
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 in tax law. The Company has historically incurred net operating losses.

12. Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):Three Months Ended March 31,20252024(Restated)Numerator:Net loss attributable to common stockholders – basic and diluted$(1,689)$(11,272)Denominator:Weighted average common shares outstanding - basic and diluted160,808,391 153,076,719 Net loss per share attributable to common stockholders – basic and diluted$(0.01)$(0.07)

F-22

Table of ContentsEVOLV TECHNOLOGIES HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

The following potentially dilutive outstanding securities were excluded from the computation of diluted net (loss) income per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:Three Months EndedMarch 31,20252024Options issued and outstanding17,435,32922,522,005 Public Warrants to purchase common stock14,324,893 14,324,893 Warrants to purchase common stock (Finback)117,423 117,423 Unvested restricted stock units12,713,887 16,460,035 Unvested market-based stock units*1,456,225 — Earn-out shares*15,000,000 15,000,000 Contingently issuable common stock*1,897,500 1,897,500 62,945,257 70,321,856 

*Issuance of Market-based stock units, Earn-out shares and Contingently issuable common stock is contingent upon the satisfaction of certain conditions, which were not satisfied by the end of the period.

13. Related Party Transactions

Original Equipment Manufacturer Partnership Agreement with Motorola

In December 2020, the Company entered into an original equipment manufacturer partnership agreement with Motorola Solutions, Inc. (“Motorola”), an investor in the Company. The partnership agreement has since been amended and restated. Motorola sells Motorola-branded premium products based on the Evolv Express platform through their worldwide network of over 2,000 resellers and integration partners, and has integrated the Evolv Express platform with