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Evolv Technologies Holdings, Inc. is a leading security technology company specializing in AI-based weapons detection systems. The company enhances security and improves visitor experiences by selling advanced sensors, artificial intelligence software, and cloud services. Evolv offers its products under a Security-as-a-Service (SaaS) subscription model, providing ongoing value to customers and generating predictable revenue streams.
- Subscription Revenue - Provides revenue from subscription services, offering ongoing software updates, analytics, and support.
- Service Revenue - Generates revenue from services provided, contributing significantly to the company's operations.
- License Fee and Other Revenue - Includes license fees and other miscellaneous revenue, adding to the company's diverse revenue streams.
- Product Revenue - Involves the sale of physical products, contributing to the company's overall revenue.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John Kedzierski ExecutiveBoard | President and Chief Executive Officer | John Kedzierski has served as CEO of Evolv Technology since December 16, 2024. He is also a Class I member of the Board of Directors with his term ending at the 2025 Annual Meeting and previously served on Evolv's Board as a Motorola Solutions designee from January 2022 to November 2023. | View Report → | |
Michael Ellenbogen ExecutiveBoard | Chief Innovation Officer | Michael Ellenbogen has been serving as the Chief Innovation Officer and a Director at Evolv Technology since July 2021. He briefly held the Interim CEO and President position from October 30, 2024 until December 16, 2024. | ||
Anil Chitkara Executive | Chief Growth Officer (CGO) | Anil Chitkara is the Chief Growth Officer at EVLV since April 2022, and he previously served as Head of Corporate Development from July 2021 and co-founded Legacy Evolv in July 2013. | ||
George C. Kutsor Executive | Chief Financial Officer (CFO) | George C. Kutsor is the Chief Financial Officer (CFO) of Evolv Technologies Holdings, Inc since April 29, 2025. He has extensive financial leadership experience, having served in senior roles at Kin + Carta and Motorola Solutions. | ||
Robert Marshall Executive | Chief Revenue Officer | Robert Marshall is the Chief Revenue Officer at Evolv Technology since February 3, 2025. He oversees global sales and service operations and previously held executive roles at Mobile Communications America and Motorola Solutions. | ||
Bilal Zuberi Board | Director on the Board of Directors | Founder & Managing Partner at Red Glass Ventures (Feb 2025); Director at Desktop Metal Inc. (Dec 2020); Advisory Board Member at Lemelson Foundation | Bilal Zuberi has served as a director on EVLV's Board of Directors since July 2021. He brings extensive experience in technology investments, having previously been a partner at Lux Capital and now the Founder & Managing Partner at Red Glass Ventures. | |
David Mounts Gonzales Board | Director on the Board of Directors | Wharton Graduate Executive Board; Elliott Aviation Board; Advisor to Corridor Capital | David Mounts Gonzales has been serving as a board director at EVLV since November 2023. He has extensive leadership experience with previous executive roles including CEO and Chairman at Inmar Intelligence, as well as senior positions at Domino's Pizza and UPS. | |
Kevin Charlton Board | Director on the Board | Co-Chairman of NewHold Enterprises LLC; CEO of NewHold Investment Corp III; Chairman of American AllWaste LLC | Kevin Charlton has served as a Director on the Board at EVLV since July 2021 and currently chairs the Compensation and Investment Committees as well as Give Evolv LLC. He brings extensive private equity and public company leadership experience from roles including Co-Chairman of NewHold Enterprises LLC, CEO of NewHold Investment Corp III, and Chairman of American AllWaste LLC. | |
Kimberly Sheehy Board | Director on Evolv's Board | Member of the Board of Directors and Chair of the Audit Committee at Shift Technologies Inc. ; Member of the Board of Directors, Chair of the Audit Committee, and member of the Compensation and Nominating and Corporate Governance Committees at CVB Financial Corp | Kimberly Sheehy has been a director on Evolv's Board since July 2021 , and she brings extensive executive, managerial, accounting, and governance experience to the role. She has also served as CFO at several companies, further bolstering her leadership credentials. | |
Mark Sullivan Board | Director on Evolv's Board | Owner of Mark Sullivan Consulting (since January 2018) ; Principal at Global Security and Innovative Strategies (February 2013 - December 2017) ; Board Member at Command Security Corporation (July 2013 - January 2019) | Mark Sullivan has been serving as a director on Evolv's Board since July 2021 and is a member of the Compensation Committee. He brings extensive security expertise from his long tenure with the U.S. Secret Service and previous roles in the private security sector. | |
Merline Saintil Board | Director | TD Synnex Corp.; Rocket Lab USA, Inc.; Symbotic Inc.; GitLab Inc. | Merline Saintil has served as a director at EVLV since July 2021 and is noted for her extensive experience in technology and corporate governance, having held prior executive roles at Change Healthcare Inc. (2019-2020) and Intuit Inc. (November 2014 to August 2018). | |
Neil Glat Board | Chairman of the Board | Managing Member of NG Strategies, LLC; Senior Advisor for Arctos Sports Partners; Board Member of ASM Global; Board Member of NewHold Investment Corp. I; Board Member of NewHold Investment Corp. II; Director on the Board of fuboTV Inc. | Neil Glat has been the Chairman of the Board at Evolv Technology since November 2023 , after serving as a director since July 2021. He brings extensive leadership experience from roles in sports, media, and technology sectors. | |
Rajan Naik Board | Director on the Board | Senior Vice President, Strategy & Ventures at Motorola Solutions, Inc. (2016–Present) ; Director at CSG Systems International Inc. (since August 2018) | Rajan Naik, Ph.D., has served as a director on Evolv’s Board since November 2023. He is recognized as an independent Class III Director and brings extensive experience in strategy, technology, and mergers and acquisitions from roles at Motorola Solutions, AMD, and McKinsey & Company. |
- Given your early-stage focus on the industrial warehouse vertical, can you elaborate on the specific catalysts and potential operational challenges you expect to drive significant revenue growth in this segment by 2025?
- With continued regulatory engagements, especially the ongoing discussions with the FTC that typically span 12 to 18 months, how do you plan to mitigate any potential delays in sales cycles without adversely impacting your overall close rate?
- In light of your cash usage, inventory buildup, and the planned transition from Generation 1 to Generation 2 systems, can you clarify the timeline and key risk factors that might affect when cash levels bottom out and return to the targeted $60 million range?
- Your recent rollout of visual gun detection is starting to influence deal pipelines; can you share which early performance indicators or customer feedback validate its impact on driving higher ARPU and overall business stickiness?
- Operating in a price-sensitive education market with legacy screening competitors still aggressive on pricing, what concrete measures are you taking to sustain pricing power and secure long-term renewals in this competitive landscape?
Recent press releases and 8-K filings for EVLV.
- 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
- 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.
- 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.