Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 197

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 197
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12 months of the balance sheet date are classified as current deferred revenue and amounts expected to be recognized as revenue beyond 12 months of the balance sheet date are classified as deferred revenue, noncurrent. The Company recognized revenue of $13.9 million and $58.0 million during the three and nine months ended September 30, 2025, respectively, that was included in the December 31, 2024 deferred revenue balance. The Company recognized revenue of $10.1 million and $40.8 million during the three and nine months ended September 30, 2024, respectively, that was included in the December 31, 2023 deferred revenue balance. The following table provides a rollforward of deferred revenue (in thousands):Balance at December 31, 2024$84,772 Revenue recognized in relation to the beginning of the year contract liability balance(57,966)Revenue deferred69,562 Balance at September 30, 2025$96,368 The following table presents the Company’s components of lease revenue (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Interest income on lease receivables$24 $40 $80 $123 Lease income - operating leases22,685 17,909 62,122 47,783 Total lease revenue$22,709 $17,949 $62,202 $47,906 The interest income on lease receivables is classified under interest income in the condensed consolidated statements of operations and comprehensive loss. Lease income from operating leases is related to the leased equipment 

F-16

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

under subscription arrangements and is classified as subscription revenue in the condensed consolidated statements of operations and comprehensive loss. Revenue related to leases entered into with related parties was $0.5 million and $1.1 million during the three and nine months ended September 30, 2024, respectively. There was no revenue related to leases entered into with related parties during the three and nine months ended September 30, 2025. Disaggregated RevenueThe following table presents the Company’s revenue by revenue stream (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Product revenue$9,242 $1,344