Company: EVLVW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001805385-25-000009
Chunk: 175

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 175
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 June 30, 2025 and December 31, 2024; 170,626,362 and 159,602,069 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively17 16 Additional paid-in capital489,684 472,331 Accumulated other comprehensive loss(163)(32)Accumulated deficit(396,888)(354,664)Stockholders’ equity92,650 117,651 Total liabilities and stockholders’ equity$280,422 $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 EndedJune 30,Six Months EndedJune 30,2025202420252024(As Restated)(As Restated)Revenue:Product revenue$2,528 $1,954 $4,850 $3,445 Subscription revenue20,200 15,655 39,437 29,874 Service revenue6,686 5,566 13,416 10,818 License fee and other revenue3,130 2,049 6,848 3,268 Total revenue *32,544 25,224 64,551 47,405 Cost of revenue:Cost of product revenue5,351 2,839 8,535 5,953 Cost of subscription revenue8,894 6,309 16,790 11,894 Cost of service revenue1,710 1,147 3,415 2,345 Cost of license fee and other revenue371 172 443 301 Total cost of revenue16,326 10,467 29,183 20,493 Gross profit16,218 14,757 35,368 26,912 Operating expenses:Research and development4,737 5,850 9,599 12,246 Sales and marketing11,736 16,357 22,779 32,216 General and administrative17,238 14,061 32,210 25,867 Restructuring costs— 860 2,662 860 Total operating expenses33