Evolv Technologies Hldngs Inc Stock Price, News & Analysis

Evolv Technology (NASDAQ: EVLV) reported strong fourth quarter and full-year results for 2021, with Q4 revenue of $6.8 million, up 236% year-over-year, and full-year revenue of $23.7 million, a 395% increase. The total contract value (TCV) for Q4 surged to $17.9 million (up 201%), while full-year TCV reached $53.8 million (up 148%). The company experienced a net income of $2.5 million in Q4, a big turnaround from a net loss of $9.6 million the previous year. For 2022, Evolv expects revenue between $29-$31 million and sees a rise in annual recurring revenue to $27-$28 million.

Evolv Technology (NASDAQ: EVLV) announced enhancements to Evolv Express®, integrating weapons screening data with Milestone Video Management System and Titan HST mass notification system. This marks a significant advancement in security technology, aiming to improve threat response times amid rising violence and fragmented security systems. With over 611 mass shootings reported in 2020, these integrations simplify communication among security teams, enhancing venue safety. The updated system includes advanced video analytics, optimizing threat identification and ensuring a seamless visitor experience.

Evolv Technology (NASDAQ: EVLV) announced its Evolv Express® screening solution is enhancing fan experiences at U.S. sports stadiums. Notable improvements include Nissan Stadium, where screening times were reduced from 30 minutes to near-instant entry, boosting visitor satisfaction from 2.3 to 4.6. Mercedes-Benz Stadium reports nine out of ten fans now favor the new screening process. The company introduced professional sports experts to capitalize on increasing demand, highlighting a commitment to safety and efficiency.

Evolv Technology (NASDAQ: EVLV) has partnered with the Marcus Performing Arts Center in Milwaukee to implement its Evolv Express® screening solution, enhancing visitor entry experiences. This technology enables rapid screening of up to 3,600 individuals per hour without the need to remove personal items. Officials from the Marcus Center acknowledge the transformation in audience experience and improved operational efficiency due to this partnership. Evolv's advanced sensors and AI technology aim to ensure safety while facilitating faster access to performances.

Evolv Technology (NASDAQ: EVLV) announces a partnership with the historic Gillioz Theatre in Springfield, Missouri, to enhance security using Evolv Express® systems. The advanced security screening technology allows guests to enter without removing belongings, improving the overall experience. The partnership not only fortifies security but also provides valuable data for venue operations. By modernizing safety, the theatre aims to maintain its historical ambiance while optimizing concession opportunities.

Evolv Technology (NASDAQ: EVLV) has earned recognition in the 2022 Best Places to Work Awards by Built In, being named one of the Best Places to Work, Best Midsize Companies to Work For, and Best Paying Companies. These awards reflect the company’s commitment to employee well-being and innovative culture. The evaluation process included compensation, benefits, and people-first cultural offerings. In 2021, Evolv made significant strides, expanding partnerships with venues and screening over 100 million people, second only to the TSA.

Evolv Technology (NASDAQ: EVLV) will announce its fourth quarter 2021 financial results on March 14, 2022, post-market. A conference call with management is scheduled for 4:30 p.m. ET on the same day to discuss the results and future business outlook. Access to the call is available via phone or through a live webcast on the company's investor relations website. Evolv Technology specializes in advanced weapons detection security screening, having scanned over 150 million individuals, and aims to enhance safety and security across various venues.

Evolv Technology (NASDAQ: EVLV) showcased its Evolv Express® systems at the world premiere of the Yellowstone prequel, 1883, enhancing safety with seamless entry for guests. Evolv Express utilizes AI-driven technology for weapons detection, screening over 150 million people, making it second only to the TSA in the U.S. The system allows rapid entry without disrupting guest experiences, which aligns with Evolv's goal of transforming physical security. The company aims to deliver better security while facilitating smooth event operations, further validated by partnerships with high-profile venues.

Evolv Technology (NASDAQ: EVLV) will be presenting at the Imperial Capital Investor Conference on December 15, 2021, in New York. CEO Peter George is scheduled to speak at approximately 9:00 a.m. Eastern Time, with a live webcast available on the company's investor relations website. Evolv is a leader in weapons detection security screening, having scanned over 100 million individuals, only second to the TSA in the U.S. The company aims to enhance safety while providing a better experience for visitors across various venues.