What is Evolv Technologies Hldngs Inc's earnings per share (EPS)?

Evolv Technologies Hldngs Inc (EVLV) reported diluted earnings per share of $-0.20 for fiscal year 2025. This represents a 41.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Evolv Technologies Hldngs Inc Financials

EVLV

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Evolv Technologies Hldngs Inc (EVLV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 43/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Evolv Technologies Hldngs Inc has an operating margin of -33.2%, meaning the company retains $-33 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -79.2% the prior year.

Growth

100

Evolv Technologies Hldngs Inc's revenue surged 40.5% year-over-year to $145.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Evolv Technologies Hldngs Inc carries a low D/E ratio of 0.24, meaning only $0.24 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Evolv Technologies Hldngs Inc's current ratio of 1.23 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 20/100, which could limit financial flexibility.

Returns

Evolv Technologies Hldngs Inc generates a -27.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -45.9% the prior year.

Piotroski F-Score Neutral

4/9

Evolv Technologies Hldngs Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.56x

For every $1 of reported earnings, Evolv Technologies Hldngs Inc generates $-0.56 in operating cash flow ($18.7M OCF vs -$33.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-28.0x

Evolv Technologies Hldngs Inc earns $-28.0 in operating income for every $1 of interest expense (-$48.5M vs $1.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$145.9M

YoY+40.5%

Evolv Technologies Hldngs Inc generated $145.9M in revenue in fiscal year 2025. This represents an increase of 40.5% from the prior year.

EBITDA

-$24.1M

YoY+62.8%

Evolv Technologies Hldngs Inc's EBITDA was -$24.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 62.8% from the prior year.

Net Income

-$33.1M

YoY+38.7%

Evolv Technologies Hldngs Inc reported -$33.1M in net income in fiscal year 2025. This represents an increase of 38.7% from the prior year.

EPS (Diluted)

$-0.20

YoY+41.2%

Evolv Technologies Hldngs Inc earned $-0.20 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$49.1M

YoY+32.8%

Evolv Technologies Hldngs Inc held $49.1M in cash against $28.6M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

175M

YoY+9.9%

Evolv Technologies Hldngs Inc had 175M shares outstanding in fiscal year 2025. This represents an increase of 9.9% from the prior year.

Margins & Returns

Gross Margin

51.6%

YoY-5.6pp

Evolv Technologies Hldngs Inc's gross margin was 51.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.

Operating Margin

-33.2%

YoY+46.0pp

Evolv Technologies Hldngs Inc's operating margin was -33.2% in fiscal year 2025, reflecting core business profitability. This is up 46.0 percentage points from the prior year.

Net Margin

-22.7%

YoY+29.3pp

Evolv Technologies Hldngs Inc's net profit margin was -22.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 29.3 percentage points from the prior year.

Return on Equity

-27.8%

YoY+18.2pp

Evolv Technologies Hldngs Inc's ROE was -27.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 18.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$20.6M

YoY-12.1%

Evolv Technologies Hldngs Inc invested $20.6M in research and development in fiscal year 2025. This represents a decrease of 12.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

EVLV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$145.9M+40.5%	$103.9M+30.5%	$79.6M+50.9%	$52.7M+125.4%	$23.4M
Cost of Revenue	$70.6M+59.0%	$44.4M-6.8%	$47.7M-7.1%	$51.3M+165.0%	$19.4M
Gross Profit	$75.3M+26.6%	$59.5M+86.4%	$31.9M+2179.1%	$1.4M-65.3%	$4.0M
R&D Expenses	$20.6M-12.1%	$23.4M-4.2%	$24.5M+32.0%	$18.5M+61.8%	$11.5M
SG&A Expenses	$54.9M-3.1%	$56.6M+34.2%	$42.2M+11.1%	$38.0M+91.1%	$19.9M
Operating Income	-$48.5M+41.1%	-$82.3M+8.6%	-$90.1M+12.5%	-$103.0M-86.3%	-$55.3M
Interest Expense	$1.7M	$0-100.0%	$654K-8.1%	$712K-88.3%	$6.1M
Income Tax	$62K	$0-100.0%	$51K	$0	$0
Net Income	-$33.1M+38.7%	-$54.0M+50.0%	-$108.0M-24.5%	-$86.8M-697.2%	-$10.9M
EPS (Diluted)	$-0.20+41.2%	$-0.34+52.8%	$-0.72-20.0%	$-0.60-300.0%	$-0.15

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$38.5M-10.1%	$42.9M+31.7%	$32.5M+1.7%	$32.0M+10.0%	$29.1M+6.4%	$27.4M+8.5%	$25.2M+13.7%	$22.2M
Cost of Revenue	$19.9M-7.7%	$21.5M+32.0%	$16.3M+27.0%	$12.9M+4.0%	$12.4M+7.0%	$11.6M+10.4%	$10.5M+4.4%	$10.0M
Gross Profit	$18.6M-12.6%	$21.3M+31.4%	$16.2M-15.3%	$19.1M+14.4%	$16.7M+5.9%	$15.8M+7.1%	$14.8M+21.4%	$12.2M
R&D Expenses	$5.4M-3.5%	$5.6M+18.4%	$4.7M-2.6%	$4.9M-9.8%	$5.4M-7.2%	$5.8M-0.7%	$5.8M-8.5%	$6.4M
SG&A Expenses	$10.1M-20.0%	$12.6M-27.0%	$17.2M+15.1%	$15.0M-10.7%	$16.8M+19.9%	$14.0M-0.6%	$14.1M+19.1%	$11.8M
Operating Income	-$8.0M+7.1%	-$8.6M+50.9%	-$17.5M-21.6%	-$14.4M+23.8%	-$18.9M+1.4%	-$19.2M+14.4%	-$22.4M-2.1%	-$21.9M
Interest Expense	$1.0M+42.8%	$713K	$0-100.0%	$1K	N/A	$0	$0	$0
Income Tax	$0	$0+100.0%	-$1K-101.6%	$63K	N/A	$0	$0	$0
Net Income	$10.9M+705.9%	-$1.8M+95.6%	-$40.5M-2299.9%	-$1.7M+89.3%	-$15.7M+48.4%	-$30.4M-990.7%	$3.4M+130.3%	-$11.3M
EPS (Diluted)	N/A	$-0.01+96.0%	$-0.25-2400.0%	$-0.01	N/A	$-0.19-1050.0%	$0.02+128.6%	$-0.07

EVLV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$304.4M+13.6%	$268.1M-9.8%	$297.1M-13.7%	$344.2M-5.1%	$362.9M
Current Assets	$151.3M+24.6%	$121.4M-29.9%	$173.4M-40.0%	$288.7M-12.8%	$331.1M
Cash & Equivalents	$49.1M+32.8%	$37.0M-44.9%	$67.2M-70.8%	$229.8M-25.3%	$307.5M
Inventory	$9.3M-45.1%	$17.0M+64.0%	$10.3M-16.5%	$12.4M+328.9%	$2.9M
Accounts Receivable	$30.8M+8.6%	$28.4M+31.8%	$21.5M-18.5%	$26.4M+308.2%	$6.5M
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$185.0M+23.0%	$150.4M-1.7%	$153.0M+30.1%	$117.6M+62.1%	$72.6M
Current Liabilities	$123.0M+27.2%	$96.7M+19.0%	$81.3M+38.1%	$58.9M+142.0%	$24.3M
Long-Term Debt	$28.6M	$0	$0-100.0%	$19.7M+147.7%	$7.9M
Total Equity	$119.4M+1.5%	$117.7M-18.4%	$144.1M-36.4%	$226.6M-21.9%	$290.3M
Retained Earnings	-$387.8M-9.3%	-$354.7M-18.0%	-$300.6M-56.1%	-$192.6M-82.0%	-$105.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$304.4M0.0%	$304.3M+8.5%	$280.4M+9.5%	$256.0M-4.5%	$268.1M-3.7%	$278.5M+3.5%	$269.1M-3.9%	$280.0M
Current Assets	$151.3M-0.2%	$151.6M+13.9%	$133.1M+28.2%	$103.8M-14.6%	$121.4M-9.6%	$134.4M-2.1%	$137.3M-0.6%	$138.1M
Cash & Equivalents	$49.1M+56.0%	$31.5M-14.7%	$36.9M+47.2%	$25.1M-32.2%	$37.0M-19.6%	$46.0M+29.0%	$35.7M-20.0%	$44.6M
Inventory	$9.3M+6.2%	$8.8M-27.8%	$12.1M+20.7%	$10.1M-40.7%	$17.0M+4.2%	$16.3M-14.9%	$19.1M+66.2%	$11.5M
Accounts Receivable	$30.8M-36.9%	$48.9M+16.9%	$41.8M+21.3%	$34.5M+21.4%	$28.4M-18.5%	$34.9M-1.6%	$35.4M+80.1%	$19.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$185.0M-8.4%	$202.1M+7.6%	$187.8M+39.2%	$134.9M-10.3%	$150.4M+0.6%	$149.5M+26.8%	$117.8M-16.0%	$140.2M
Current Liabilities	$123.0M+3.0%	$119.3M-16.5%	$142.9M+51.4%	$94.4M-2.4%	$96.7M+8.1%	$89.5M+11.7%	$80.1M+4.9%	$76.4M
Long-Term Debt	$28.6M+0.2%	$28.5M	N/A	N/A	$0	N/A	N/A	N/A
Total Equity	$119.4M+16.8%	$102.2M+10.3%	$92.7M-23.5%	$121.1M+2.9%	$117.7M-8.8%	$129.0M-14.7%	$151.2M+8.2%	$139.8M
Retained Earnings	-$387.8M+2.7%	-$398.7M-0.5%	-$396.9M-11.4%	-$356.4M-0.5%	-$354.7M-4.6%	-$338.9M-9.9%	-$308.5M+1.1%	-$311.9M

EVLV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$18.7M+160.5%	-$30.9M-214.8%	-$9.8M+86.9%	-$74.7M-31.6%	-$56.8M
Capital Expenditures	N/A	N/A	N/A	$6.3M-62.2%	$16.6M
Free Cash Flow	N/A	N/A	N/A	-$29.9M+59.3%	-$73.3M
Investing Cash Flow	-$41.8M-2889.7%	-$1.4M+98.9%	-$123.1M-415.8%	-$23.9M-35.7%	-$17.6M
Financing Cash Flow	$35.4M+1856.9%	$1.8M+106.1%	-$29.7M-244.6%	$20.5M-94.6%	$377.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$15.6M+341.9%	$3.5M+66.8%	$2.1M+183.2%	-$2.5M-179.2%	$3.2M-12.8%	$3.7M+117.0%	-$21.6M-33.6%	-$16.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.4M+103.5%	-$39.6M-789.0%	$5.8M+161.4%	-$9.4M+29.4%	-$13.3M-312.7%	$6.2M-49.5%	$12.3M+283.6%	-$6.7M
Financing Cash Flow	$679K-97.8%	$30.6M+651.6%	$4.1M+20275.0%	$20K-97.0%	$658K+27.8%	$515K+54.2%	$334K+10.6%	$302K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EVLV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	51.6%-5.6pp	57.3%+17.1pp	40.1%+37.4pp	2.7%-14.6pp	17.2%
Operating Margin	-33.2%+46.0pp	-79.2%+33.9pp	-113.2%+82.1pp	-195.3%+41.0pp	-236.2%
Net Margin	-22.7%+29.3pp	-52.0%+83.8pp	-135.8%+28.8pp	-164.6%-118.1pp	-46.5%
Return on Equity	-27.8%+18.2pp	-45.9%+29.1pp	-75.0%-36.7pp	-38.3%-34.6pp	-3.8%
Return on Assets	-10.9%+9.3pp	-20.2%+16.2pp	-36.4%-11.1pp	-25.2%-22.2pp	-3.0%
Current Ratio	1.23-0.0	1.26-0.9	2.13-2.8	4.90-8.7	13.61
Debt-to-Equity	0.24+0.2	0.000.0	0.00-0.1	0.09+0.1	0.03
FCF Margin	N/A	N/A	N/A	-555.0%-241.5pp	-313.5%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	48.4%-1.3pp	49.7%-0.1pp	49.8%-10.0pp	59.8%+2.3pp	57.5%-0.2pp	57.8%-0.7pp	58.5%+3.7pp	54.8%
Operating Margin	-20.7%-0.7pp	-20.1%+33.7pp	-53.8%-8.8pp	-45.0%+19.9pp	-64.9%+5.1pp	-70.0%+18.7pp	-88.7%+10.1pp	-98.8%
Net Margin	28.3%+32.5pp	-4.2%+120.4pp	-124.6%-119.3pp	-5.3%+48.7pp	-54.0%+57.3pp	-111.3%-124.8pp	13.6%+64.4pp	-50.8%
Return on Equity	9.1%+10.9pp	-1.8%+42.0pp	-43.8%-42.4pp	-1.4%+12.0pp	-13.4%+10.2pp	-23.6%-25.9pp	2.3%+10.3pp	-8.1%
Return on Assets	3.6%+4.2pp	-0.6%+13.9pp	-14.4%-13.8pp	-0.7%+5.2pp	-5.9%+5.1pp	-10.9%-12.2pp	1.3%+5.3pp	-4.0%
Current Ratio	1.23-0.0	1.27+0.3	0.93-0.2	1.10-0.2	1.26-0.2	1.50-0.2	1.71-0.1	1.81
Debt-to-Equity	0.24-0.0	0.28-1.7	2.03+0.9	1.11+1.1	0.00-1.2	1.16+0.4	0.78-0.2	1.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

$1.4B

$483.4M

$2.0B

$281.4M

$3.8B

Frequently Asked Questions

What is Evolv Technologies Hldngs Inc's annual revenue?

Evolv Technologies Hldngs Inc (EVLV) reported $145.9M in total revenue for fiscal year 2025. This represents a 40.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Evolv Technologies Hldngs Inc's revenue growing?

Evolv Technologies Hldngs Inc (EVLV) revenue grew by 40.5% year-over-year, from $103.9M to $145.9M in fiscal year 2025.

Is Evolv Technologies Hldngs Inc profitable?

No, Evolv Technologies Hldngs Inc (EVLV) reported a net income of -$33.1M in fiscal year 2025, with a net profit margin of -22.7%.

What is Evolv Technologies Hldngs Inc's EBITDA?

Evolv Technologies Hldngs Inc (EVLV) had EBITDA of -$24.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Evolv Technologies Hldngs Inc have?

As of fiscal year 2025, Evolv Technologies Hldngs Inc (EVLV) had $49.1M in cash and equivalents against $28.6M in long-term debt.

What is Evolv Technologies Hldngs Inc's gross margin?

Evolv Technologies Hldngs Inc (EVLV) had a gross margin of 51.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Evolv Technologies Hldngs Inc's operating margin?

Evolv Technologies Hldngs Inc (EVLV) had an operating margin of -33.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Evolv Technologies Hldngs Inc's net profit margin?

Evolv Technologies Hldngs Inc (EVLV) had a net profit margin of -22.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Evolv Technologies Hldngs Inc's return on equity (ROE)?

Evolv Technologies Hldngs Inc (EVLV) has a return on equity of -27.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Evolv Technologies Hldngs Inc's operating cash flow?

Evolv Technologies Hldngs Inc (EVLV) generated $18.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Evolv Technologies Hldngs Inc's total assets?

Evolv Technologies Hldngs Inc (EVLV) had $304.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Evolv Technologies Hldngs Inc spend on research and development?

Evolv Technologies Hldngs Inc (EVLV) invested $20.6M in research and development during fiscal year 2025.

How many shares does Evolv Technologies Hldngs Inc have outstanding?

Evolv Technologies Hldngs Inc (EVLV) had 175M shares outstanding as of fiscal year 2025.

What is Evolv Technologies Hldngs Inc's current ratio?

Evolv Technologies Hldngs Inc (EVLV) had a current ratio of 1.23 as of fiscal year 2025, which is considered adequate.

What is Evolv Technologies Hldngs Inc's debt-to-equity ratio?

Evolv Technologies Hldngs Inc (EVLV) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Evolv Technologies Hldngs Inc's return on assets (ROA)?

Evolv Technologies Hldngs Inc (EVLV) had a return on assets of -10.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Evolv Technologies Hldngs Inc's Piotroski F-Score?

Evolv Technologies Hldngs Inc (EVLV) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Evolv Technologies Hldngs Inc's earnings high quality?

Evolv Technologies Hldngs Inc (EVLV) has an earnings quality ratio of -0.56x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Evolv Technologies Hldngs Inc cover its interest payments?

Evolv Technologies Hldngs Inc (EVLV) has an interest coverage ratio of -28.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Evolv Technologies Hldngs Inc?

Evolv Technologies Hldngs Inc (EVLV) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.