Evolv Technologies Holdings (EVLV) Company Report

Evolv Technology reported Q3 2025 revenue of $42.9 million, a 57% year-over-year increase, and annual recurring revenue (ARR) of $117.2 million, up 25% year-over-year. The company also achieved positive adjusted EBITDA of $5.1 million, with a 12% margin.
The company raised its full-year 2025 revenue guidance to between $142 million and $145 million, representing 37%-40% growth, up from previous guidance of 27%-30% growth. They also expect full-year adjusted EBITDA margins in the high single digits and anticipate being cash flow positive in Q4 2025.
For 2026, Evolv is modeling full-year revenues of $160 million to $165 million and expects ARR to grow by at least 20%, outpacing total revenue growth. This shift is driven by a transition to a direct purchase fulfillment model, which will defer $5 million-$10 million of revenue from 2026 into long-term recurring revenue streams.
Evolv announced a new strategic partnership with Plexus to expand production capacity and global reach. The company also released software updates including Evolv Express 9.0 and Evolv Expedite 1.2.

Nov 13, 2025, 9:30 PM

Transcript

Evolv Technology Reports Strong Q3 2025 Results and Raises Full-Year Guidance

EVLV

Earnings

Guidance Update

Revenue Acceleration/Inflection

Evolv Technology reported Q3 2025 revenue of $42.9 million, marking a 57% year-over-year increase, and achieved positive adjusted EBITDA of $5.1 million with a 12% adjusted EBITDA margin.
Annual Recurring Revenue (ARR) reached $117.2 million, growing 25% year-over-year , and the Remaining Performance Obligation (RPO) was approximately $299 million at the end of Q3.
The company raised its full-year 2025 revenue guidance to between $142 million and $145 million, representing 37%-40% growth, and expects to be cash flow positive in Q4 2025.
For 2026, full-year revenues are projected to be $160 million-$165 million, with ARR growth of at least 20% expected to outpace total revenue growth, driven by a strategic shift to a direct distribution model.

Nov 13, 2025, 9:30 PM

Transcript

EVLV Reports Strong Q3 2025 Results, Raises 2025 Guidance, and Provides 2026 Outlook

EVLV

Earnings

Guidance Update

Revenue Acceleration/Inflection

Evolv Technology reported Q3 2025 revenue of $42.9 million, a 57% year-over-year increase, and Annual Recurring Revenue (ARR) of $117.2 million, up 25% year-over-year, alongside positive adjusted EBITDA of $5.1 million.
The company raised its full-year 2025 revenue guidance to between $142 million and $145 million (representing 37%-40% growth) and provided an initial 2026 revenue outlook of $160 million to $165 million.
Evolv anticipates 2026 ARR growth of at least 20%, expected to outpace total revenue growth, driven by a strategic shift to a direct distribution model that emphasizes recurring revenue over one-time product revenue. This shift is projected to defer $5 million-$10 million of 2026 revenue into long-term recurring streams.
A new strategic partnership with Plexus was announced to expand production capacity and operational resiliency.

Nov 13, 2025, 9:30 PM

Transcript

Evolv Technology Reports Strong Q3 2025 Results and Raises 2025 Outlook

EVLV

Earnings

Guidance Update

Revenue Acceleration/Inflection

Evolv Technology reported Q3 2025 revenue of $42.9 million, a 57% increase compared to Q3 2024, and ending Annual Recurring Revenue (ARR) of $117.2 million, up 25% year-over-year.
For Q3 2025, the company achieved a net loss of $(1.8) million and Adjusted EBITDA of $5.1 million.
The company raised its revenue outlook for 2025 to $142-$145 million, representing 37%-40% year-over-year growth, and now expects positive full-year Adjusted EBITDA with high single-digit margins.
Evolv Technology anticipates being cash flow positive in the fourth quarter of 2025.

Nov 13, 2025, 9:07 PM

8-K

Evlos Technology Joint Venture Secures Major Intelligence Community Contract

EVLV

New Projects/Investments

Patrius LLC, a joint venture formed by Evlos Technology LLC, Fuse Engineering LLC, and Capital Solutions Group LLC, has been awarded a large, multi-year contract.
The contract is to provide information technology system engineering and sustainment services to an intelligence community customer.
Patrius will engineer and deploy next-generation global enterprise services, utilizing artificial intelligence and cloud capabilities to modernize systems.

Sep 30, 2025, 12:01 PM

Press Release

Evolv Technologies Reports Strong Q2 2025 Financial Results

EVLV

Earnings

Guidance Update

Management Change

Evolv Technologies reported strong second-quarter 2025 financial results, with revenue reaching $32.5 million, a 29% year-over-year increase, and annual recurring revenue growing 27% to $110.5 million.
Despite a net loss of $40.5 million, the company improved its adjusted EBITDA to $2.0 million, signaling enhanced operational efficiency and a commitment to achieving positive adjusted EBITDA and cash flow by the end of 2025.
Management raised the 2025 revenue growth outlook to between 27% and 30%, with the full fiscal year revenue projected between $132 million and $135 million.
Michael Ellenbogen, Evolv Technologies' Chief Innovation Officer, announced his resignation effective September 5, 2025, though he will remain on the company's Board of Directors.

Aug 14, 2025, 8:43 PM

Morningstar

Evolv Technologies Reports Q1 2025 Results

EVLV

Earnings

Management Change

Financial Restatement

Revenue Acceleration/Inflection

New Projects/Investments

Revenue of $32 million in Q1 2025 with 44% YoY and 10% sequential growth, and an ARR of $106 million reflecting strong subscription momentum
Achieved positive adjusted EBITDA of $1.7 million (5% margin) and improved net loss to $(1.7) million from $(11.3) million in Q1 2024
Key management changes include a new CEO and CFO, along with steps taken to address legal inquiries and a $3.1 million revenue restatement impacting previous periods
Provided guidance for 2025 with expected total revenues of $125M–$130M (20%-25% YoY growth) and planned $2 million investment in systems and controls to drive full-year profitability and positive cash flow

May 20, 2025, 8:31 PM

Transcript 8-K

Evolv Completes Restatement and Announces Q4 2024 Results

EVLV

Financial Restatement

Accounting Changes

Revenue Acceleration/Inflection

Evolv Technologies completed a restatement of its previously issued financial statements (covering Q2 2022 through Q2 2024) to correct approximately $3.1 million in revenue recognition errors, thereby regaining compliance with SEC reporting and Nasdaq listing requirements.
The announcement also detailed Q4 2024 performance, reporting $29.1 million in revenue and achieving positive adjusted EBITDA of $0.4 million, along with results from the third quarter and full year 2024.

Apr 28, 2025, 12:00 AM

8-K

Evolv Tech Receives Nasdaq Delinquency Notification

EVLV

Delisting/Listing Issues

Financial Restatement

Evolv Technologies received a notification from Nasdaq for non-compliance due to the delayed filing of its Annual Report on Form 10-K for the period ended December 31, 2024.
The delay stems from an internal investigation into sales practices that affected revenue recognition and led to necessary financial statement restatements.
The company is collaborating with AlixPartners to expedite the simultaneous filing of its Annual and Quarterly Reports, with an updated compliance plan due by May 1, 2025 and full compliance expected by May 19, 2025.

Apr 22, 2025, 12:00 AM

8-K