Company: EVLVW
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001628280-25-020355
Chunk: 152

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 7
Chunk 152
---
 valuation allowance against our deferred tax assets. We have provided a valuation allowance for all of our deferred tax assets as a result of our historical net losses in the jurisdictions in which we operate. We continue to assess all positive and negative evidence, including our future taxable income by jurisdiction based on our recent historical operating results, the expected timing of reversal of temporary differences, various tax planning strategies that we may be able to enact in future periods, the impact of potential operating changes on our business and our forecasted results from operations in future periods based on available information at the end of each reporting period. To the extent that we are able to reach the conclusion that deferred tax assets are realizable based on any combination of the above factors in any given tax jurisdiction, a reversal of all or some related portion of our existing valuation allowances may occur.

97

Comparison of the Three Months Ended June 30, 2022 and 2021

The following table summarizes our results of operations for the three months ended June 30, 2022 and 2021, (in thousands):

Three Months EndedJune 30,20222021$ Change% Change(Restated)Revenue:Product revenue$4,164 $2,617 $1,547 59 %Subscription revenue3,772 1,521 2,251 148 Service revenue782 230 552 240 License fee and other revenue203 310 (107)(35)Total revenue8,921 4,678 4,243 91 Cost of revenue:Cost of product revenue5,347 2,203 3,144 143 Cost of subscription revenue2,007 1,060 947 89 Cost of service revenue467 413 54 13 Cost of license fee and other revenue722 274 448 164Total cost of revenue8,543 3,950 4,593 116 Gross profit378 728 (350)(48)Operating expenses:Research and development4,374 1,047 3,327 318 Sales and marketing11,605 5,124 6,481 126 General and administrative9,574 1,471 8,103 551 Loss from impairment of property and equipment753 — 753 *Total operating expenses26,306 7,642 18,664 244 Loss from operations(25,928)(6,914)(19,014)(275)Other income (expense),