Evolv Technologies Hldngs Inc Stock Price, News & Analysis

Evolv Technology (NASDAQ: EVLV) reported Q1 2022 revenue of $8.7 million, reflecting a 118% increase year-over-year. The company's Annual Recurring Revenue (ARR) reached $16.6 million, up 207% from the previous year. Evolv Express subscriptions grew by 227% to 910. Despite the growth, the company recorded a net loss of $14.6 million or ($0.10) per share. The firm reaffirmed its 2022 revenue outlook of $29-$31 million and adjusted EBITDA expectation of ($65-$67 million.

Evolv Technology (NASDAQ: EVLV) announced that Peter George, President and CEO, will present at the Stifel Cross Sector Insight Conference on June 7, 2022, in Boston, Massachusetts. The presentation is scheduled to start at approximately 10:55 a.m. Eastern Time and will be available for live streaming on the company's investor relations website. Evolv Technology leads the market in weapons detection security screening, having scanned over 200 million people. The company's technology offers enhanced security while improving user experience at various venues.

Evolv Technology (NASDAQ: EVLV) will be presenting at the Cowen Technology Media & Telecom Conference on June 1, 2022, in New York City. CEO Peter George is scheduled to speak at approximately 3:20 p.m. Eastern Time. The company, a leader in weapons detection technology, aims to enhance security while improving the experience for users across various venues, having scanned over 250 million people to date. The presentation will be available via live webcast on the company's investor relations website.

Evolv Technology (NASDAQ: EVLV) will release its first-quarter 2022 financial results on May 11, 2022, after market close. The management team will host a conference call at 4:30 p.m. ET to discuss the results and business outlook. Participants in the US can call +1.877.692.8955, while international participants can dial +1.234.720.6979. The call will also be webcast on the company’s investor relations website. A replay will be available for 30 days.

Evolv Technology (NASDAQ: EVLV) has received the U.S. Department of Homeland Security’s SAFETY Act Designation for its Evolv Express®, an AI-based weapons detection system. This qualification recognizes Evolv’s technology for meeting rigorous performance standards, enhancing safety at venues without compromising user experience. Screening 3,600 people per hour, Evolv Express is noted for its pinpoint detection accuracy and operational efficiency. With this designation, Evolv aims to address evolving security demands while offering a contactless entry experience for high-traffic environments.

Evolv Technology (NASDAQ: EVLV) has partnered with Mercedes-Benz Stadium in Atlanta to enhance fan experience through its Evolv Express system, which utilizes AI for seamless security screening. Post-implementation, 90% of fans reported satisfaction with security checks, significantly up from 70% prior. The technology has expedited entry and reduced the need for security re-checks. Evolv's solutions aim to improve safety and guest experience at major venues, catering to the growing demand for efficient and secure event access in the post-pandemic era.

Evolv Technology, a leader in weapons detection, has been awarded the SIA New Products and Solutions Award for its Evolv Express® system at ISC West. This AI-powered detection system utilizes advanced sensors and video analytics to identify potential threats quickly, enhancing security management. CEO Peter George emphasized the honor of this recognition, which validates Evolv's commitment to public safety. The technology has already scanned over 200 million individuals, making significant strides in efficient security screening.

Evolv Technology (NASDAQ: EVLV) has announced that its Evolv Express weapons detection system achieved an overall score of 2.84 in an evaluation conducted by the National Center for Spectator Sports Safety and Security (NCS⁴). This performance reflects strong detection capabilities, especially in categories such as detecting standardized test pieces (3.0) and threat objects in small bags (3.0). The report underscores Evolv's commitment to enhancing security at events, with its technology processing up to 3600 people per hour. The system aims to provide high-performance security while improving visitor experience.

Evolv Technology (NASDAQ: EVLV) has awarded its first GiveEvolv grant to Fayette County Schools in West Virginia, providing three Evolv Express weapons screening systems to enhance safety in local schools. The initiative, launched in September 2021, aims to donate security technology at no cost to public schools, focusing on environments most vulnerable to weapons violence. A demonstration event is set for 12:00 ET today at Oak Hill High School to showcase the systems to the community.