Evolv Technologies Hldngs Inc (EVLVW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EVLVW SEC filings page.
Evolv Technologies Hldngs Inc (EVLVW) reported $160.2M in revenue over the twelve months to Mar 31, 2026, up 40.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Gross-margin expansion is narrowing losses and lifting cash generation, but fixed operating costs still exceed gross profit.
From FY2023 to FY2025, gross margin rose from40.1% to51.6% ; the pattern points to improving unit economics, not merely more volume. In FY2025, operating cash flow of$18.7M contrasted with a net loss of-$33.1M , meaning cash performance temporarily outpaced accounting earnings rather than reflecting a profitable operating model.
In FY2025, SG&A plus R&D totaled
Current ratio was 1.2x in FY2025, far below 13.6x in FY2021, showing materially less short-term balance-sheet cushion. Total liabilities reached
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Evolv Technologies Hldngs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Evolv Technologies Hldngs Inc, and counted as zero in the overall score.
Evolv Technologies Hldngs Inc had 175M shares outstanding at the end of fiscal year 2025, against 160M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Evolv Technologies Hldngs Inc scores 52/100 among other emerging companies.
Evolv Technologies Hldngs Inc spent $20.6M on research and development in fiscal year 2025, which was 10.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Evolv Technologies Hldngs Inc scores 37/100 among other emerging companies.
Evolv Technologies Hldngs Inc reported revenue of $145.9M in fiscal year 2025, against $103.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Evolv Technologies Hldngs Inc scores 74/100 among other emerging companies.
Evolv Technologies Hldngs Inc's operations generated $18.7M of cash in fiscal year 2025, against $30.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Evolv Technologies Hldngs Inc scores 97/100 among other emerging companies.
Not available for Evolv Technologies Hldngs Inc, and counted as zero in the overall score.
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.
Evolv Technologies Hldngs Inc reported a net loss of $33.1M while generating $18.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Evolv Technologies Hldngs Inc reported an operating loss of $48.5M against $1.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Evolv Technologies Hldngs Inc generated $46.3M in revenue in Q1 2026. This represents an increase of 44.7% from the same quarter a year earlier. Against the prior quarter it is up 20.3%.
Evolv Technologies Hldngs Inc's EBITDA was -$1.7M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 81.1% from the same quarter a year earlier. Against the prior quarter it is down 13.3%.
Evolv Technologies Hldngs Inc reported -$5.0M in net income in Q1 2026. This represents a decrease of 196.6% from the same quarter a year earlier. Against the prior quarter it is down 146.0%.
Evolv Technologies Hldngs Inc earned -$0.03 per diluted share (EPS) in Q1 2026. This represents a decrease of 200.0% from the same quarter a year earlier.
Cash & Balance Sheet
Evolv Technologies Hldngs Inc held $56.1M in cash against $28.7M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Evolv Technologies Hldngs Inc's gross margin was 50.9% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 8.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.
Evolv Technologies Hldngs Inc's operating margin was -18.3% in Q1 2026, reflecting core business profitability. This is up 26.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.4 percentage points.
Evolv Technologies Hldngs Inc's net profit margin was -10.8% in Q1 2026, showing the share of revenue converted to profit. This is down 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 39.1 percentage points.
Evolv Technologies Hldngs Inc's ROE was -4.2% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.3 percentage points.
Capital Allocation
Evolv Technologies Hldngs Inc invested $5.9M in research and development in Q1 2026. This represents an increase of 21.0% from the same quarter a year earlier. Against the prior quarter it is up 8.7%.
Not reported for Q1 2026.
Not reported for Q1 2026.
EVLVW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24 | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $46.3M+44.7% | $38.5M+32.3% | $42.9M+56.6% | $32.5M+29.0% | $32.0M+44.3% | $29.1M+41.4% | $27.4M+37.1% | $25.2M+33.4% |
| Cost of Revenue | $22.7M+76.8% | $19.9M+60.8% | $21.5M+86.5% | $16.3M+56.0% | $12.9M+28.2% | $12.4M+12.2% | $11.6M+27.4% | $10.5M-12.7% |
| Gross Profit | $23.6M+23.2% | $18.6M+11.3% | $21.3M+34.8% | $16.2M+9.9% | $19.1M+57.5% | $16.7M+75.1% | $15.8M+45.2% | $14.8M+113.4% |
| R&D Expenses | $5.9M+21.0% | $5.4M+0.4% | $5.6M-3.5% | $4.7M-19.0% | $4.9M-24.0% | $5.4M-14.5% | $5.8M-9.0% | $5.8M-8.4% |
| SG&A Expenses | $13.5M-9.7% | $10.1M-39.9% | $12.6M-10.0% | $17.2M+22.6% | $15.0M+26.8% | $16.8M+50.6% | $14.0M+24.1% | $14.1M+29.4% |
| Operating Income | -$8.5M+41.1% | -$8.0M+57.7% | -$8.6M+55.1% | -$17.5M+21.8% | -$14.4M+34.3% | -$18.9M+15.0% | -$19.2M+9.6% | -$22.4M+7.1% |
| EBITDA | -$1.7M+81.1% | -$1.5M | -$2.1M+85.6% | -$11.7M+36.7% | -$8.9M+52.0% | N/A | -$14.6M+21.7% | -$18.5M+15.2% |
| Interest Expense | $962K+96100.0% | $1.0M | $713K | $0 | $1K | N/A | $0 | $0 |
| Income Tax | -$37K-158.7% | $0 | $0 | -$1K | $63K | N/A | $0 | $0 |
| Net Income | -$5.0M-196.6% | $10.9M+169.2% | -$1.8M+94.1% | -$40.5M-1285.9% | -$1.7M+85.0% | -$15.7M+8.6% | -$30.4M-703.3% | $3.4M+105.1% |
| EPS (Basic) | -$0.03-200.0% | N/A | -$0.01+94.7% | -$0.25-1350.0% | -$0.01+85.7% | N/A | -$0.19-733.3% | $0.02+104.4% |
| EPS (Diluted) | -$0.03-200.0% | N/A | -$0.01+94.7% | -$0.25-1350.0% | -$0.01+85.7% | N/A | -$0.19-733.3% | $0.02+104.4% |
| Diluted Shares (Avg) | 177M+10.1% | N/A | 173M+9.6% | 165M-3.7% | 161M+5.1% | N/A | 158M-9.4% | 172M+15.2% |
EVLVW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24 | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $304.6M+19.0% | $304.4M+13.6% | $304.3M+9.3% | $280.4M+4.2% | $256.0M-8.6% | $268.1M-9.8% | $278.5M-8.5% | $269.1M-11.0% |
| Current Assets | $152.0M+46.5% | $151.3M+24.6% | $151.6M+12.8% | $133.1M-3.1% | $103.8M-24.9% | $121.4M-29.9% | $134.4M-32.5% | $137.3M-34.7% |
| Cash & Equivalents | $56.1M+123.5% | $49.1M+32.8% | $31.5M-31.6% | $36.9M+3.5% | $25.1M-43.7% | $37.0M-44.9% | $46.0M-53.8% | $35.7M-71.6% |
| Inventory | $8.3M-17.9% | $9.3M-45.1% | $8.8M-46.1% | $12.1M-36.5% | $10.1M-12.7% | $17.0M+64.0% | $16.3M+100.0% | $19.1M+236.2% |
| Accounts Receivable | $42.7M+23.9% | $30.8M+8.6% | $48.9M+40.2% | $41.8M+18.0% | $34.5M+75.4% | $28.4M+31.8% | $34.9M+27.5% | $35.4M+35.5% |
| Total Liabilities | $184.0M+36.4% | $185.0M+23.0% | $202.1M+35.2% | $187.8M+59.3% | $134.9M-3.8% | $150.4M-1.7% | $149.5M-0.1% | $117.8M-26.0% |
| Current Liabilities | $125.9M+33.3% | $123.0M+27.2% | $119.3M+33.4% | $142.9M+78.4% | $94.4M+23.6% | $96.7M+19.0% | $89.5M+20.2% | $80.1M+34.0% |
| Non-Current Liabilities | $58.1M+43.4% | $62.0M+15.5% | $82.7M+37.8% | $44.9M+18.9% | $40.5M-36.5% | $53.7M-25.1% | $60.0M-20.3% | $37.8M-62.0% |
| Long-Term Debt | $28.7M | $28.6M | $28.5M | N/A | N/A | $0 | N/A | N/A |
| Total Equity | $120.7M-0.3% | $119.4M+1.5% | $102.2M-20.7% | $92.7M-38.7% | $121.1M-13.4% | $117.7M-18.4% | $129.0M-16.6% | $151.2M+5.6% |
| Retained Earnings | -$392.8M-10.2% | -$387.8M-9.3% | -$398.7M-17.6% | -$396.9M-28.7% | -$356.4M-14.2% | -$354.7M-18.0% | -$338.9M-19.6% | -$308.5M-6.9% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill.
EVLVW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24 | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.2M-25.2% | $15.6M+386.0% | $3.5M-4.1% | $2.1M+109.8% | -$2.5M+84.3% | $3.2M+201.9% | $3.7M+75.3% | -$21.6M-305.6% |
| Depreciation & Amortization | $6.8M+23.0% | $6.5M | $6.5M+41.3% | $5.8M+48.7% | $5.5M+60.0% | N/A | $4.6M+76.9% | $3.9M+69.6% |
| Stock-Based Compensation | $5.6M+14.5% | N/A | $5.4M-28.2% | $5.5M-25.3% | $4.9M-24.1% | N/A | $7.5M+24.4% | $7.4M+11.0% |
| Investing Cash Flow | $9.8M+204.3% | $1.4M+110.6% | -$39.6M-735.8% | $5.8M-53.4% | -$9.4M-39.3% | -$13.3M+56.3% | $6.2M+121.7% | $12.3M+124.6% |
| Financing Cash Flow | $322K+1510.0% | $679K+3.2% | $30.6M+5847.0% | $4.1M+1120.1% | $20K-93.4% | $658K+1165.4% | $515K+89.3% | $334K+7.4% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
EVLVW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24 | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.9%-8.9pp | 48.4%-9.2pp | 49.7%-8.1pp | 49.8%-8.7pp | 59.8%+5.0pp | 57.5%+11.1pp | 57.8%+3.2pp | 58.5%+21.9pp |
| Operating Margin | -18.3%+26.7pp | -20.7%+44.1pp | -20.1%+49.9pp | -53.8%+34.9pp | -45.0%+53.8pp | -64.9% | -70.0% | -88.7% |
| Net Margin | -10.8%-5.5pp | 28.3%+82.3pp | -4.2% | -124.6% | -5.3%+45.5pp | -54.0%+29.5pp | -111.3% | 13.6% |
| Return on Equity | -4.2%-2.8pp | 9.1%+22.5pp | -1.8%+21.8pp | -43.8%-46.0pp | -1.4%+6.7pp | -13.4%-1.4pp | -23.6%-26.9pp | 2.3%+49.2pp |
| Return on Assets | -1.6%-1.0pp | 3.6%+9.4pp | -0.6%+10.3pp | -14.4%-15.7pp | -0.7%+3.4pp | -5.9%-0.1pp | -10.9%-12.6pp | 1.3%+23.5pp |
| Current Ratio | 1.21+0.1x | 1.230.0x | 1.27-0.2x | 0.93-0.8x | 1.10-0.7x | 1.26-0.9x | 1.50-1.2x | 1.71-1.8x |
| Debt-to-Equity | 0.24-0.9x | 0.24+0.2x | 0.28-0.9x | 2.03+1.2x | 1.11+0.1x | 0.000.0x | 1.16+1.2x | 0.78+0.8x |
| Asset Turnover | 0.150.0x | 0.130.0x | 0.140.0x | 0.120.0x | 0.130.0x | 0.110.0x | 0.100.0x | 0.090.0x |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Where Evolv Technologies Hldngs Inc Ranks
Frequently Asked Questions
What is Evolv Technologies Hldngs Inc's annual revenue?
Evolv Technologies Hldngs Inc (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) invested $20.6M in research and development during fiscal year 2025.
What is Evolv Technologies Hldngs Inc's current ratio?
Evolv Technologies Hldngs Inc (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 (EVLVW) 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 to 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 (EVLVW) reported a net loss of $33.1M while generating $18.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 (EVLVW) reported an operating loss of $48.5M against $1.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 (EVLVW) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.