Welcome to our dedicated page for Evolv Technologies Hldngs news (Ticker: EVLV), a resource for investors and traders seeking the latest updates and insights on Evolv Technologies Hldngs stock.
Evolv Technologies Holdings, Inc. develops, manufactures, markets and sells AI-based security screening products and related services for visitor-entry environments. Company updates frequently cover Evolv Express®, Evolv eXpedite™, Evolv Insights® and the Screened by Evolv™ seal, as well as subscription agreements, product deployments and renewals across schools, stadiums, arenas, entertainment districts, healthcare sites, tourist attractions, houses of worship and industrial workplaces.
Recurring announcements also address financial results, investor presentations, technology features for weapons detection and bag screening, and customer examples describing entry flow, security operations and venue adoption of Evolv systems.
Evolv Technology (NASDAQ: EVLV) has partnered with Rahway Public Schools in New Jersey to enhance school security through the installation of Evolv Express® and Evolv eXpedite™ systems at gymnasium and performing arts entrances. The deployment makes Rahway the first school district in New Jersey to implement the eXpedite solution alongside Express, allowing efficient student screening without requiring laptop removal from bags. The technology is part of a broader adoption trend, with over 1,100 school buildings nationwide now using Evolv's security solutions.
Evolv Technology (NASDAQ: EVLV), an AI-based security technology company, has scheduled its first quarter 2025 financial results release for Tuesday, May 20, 2025, after market close. The company's management team will host a live conference call and webcast at 4:30 p.m. Eastern Time on the same day to discuss the quarterly results and provide a business outlook. Investors and interested parties can access the webcast through the company's investor relations website at http://ir.evolvtechnology.com.
Evolv Technologies (NASDAQ: EVLV) reported strong Q4 2024 financial results while regaining compliance with SEC reporting and NASDAQ listing requirements. The security technology company achieved positive Adjusted EBITDA of $0.4 million in Q4'24, reaching profitability six months ahead of schedule.
Key Q4 2024 metrics:
- Revenue: $29.1 million (↑41% year-over-year)
- Annual Recurring Revenue: $99.4 million (↑39% year-over-year)
- Remaining Performance Obligation: $266.7 million
- 6,100 units deployed
- Cash position: $51.9 million with no debt
The company completed its restatement process, correcting approximately $3.1 million in revenue recognition from Q2 2022 through Q2 2024. Under new CEO John Kedzierski's leadership, Evolv is focusing on disciplined execution, transparent communication, and compliance as it enters its next growth phase in AI-based security solutions.
Evolv Technology (NASDAQ: EVLV) has appointed Chris Kutsor as its new Chief Financial Officer, effective one business day after filing the Company's Annual Report for fiscal year 2024. Kutsor, 51, joins Evolv from Kin + Carta Plc, where he served as CFO, COO, and Board member, successfully leading the company's sale to a private equity firm in 2024.
CEO John Kedzierski highlighted Kutsor's experience as a public company CFO and his proven leadership in driving financial strategy for high-growth technology companies. In his new role, Kutsor will focus on scaling the business and enhancing value for customers and shareholders at Evolv, a security technology company specializing in AI-based weapons detection solutions.
Evolv Technologies Holdings (NASDAQ: EVLV) has received a delinquency notification from Nasdaq on April 16, 2025, due to delayed filing of its Annual Report (Form 10-K) for the period ended December 31, 2024. The delay stems from an ongoing internal investigation into sales practices affecting revenue recognition and other key metrics, requiring financial statement restatements.
The company is also delinquent in filing its Q3 2024 Quarterly Report. Nasdaq has granted EVLV until May 19, 2025, to file the Quarterly Report and must submit an updated compliance plan by May 1, 2025. While the notification has no immediate effect on EVLV's Nasdaq listing, the company is working with AlixPartners LLP to complete and simultaneously file both reports.
Evolv Technology (NASDAQ: EVLV) has announced a partnership with immersive entertainment company Cosm to deploy its AI-based Express® screening systems at Cosm's first two locations in Los Angeles and Dallas metro areas. The partnership, which began in December 2024, aims to provide secure, fast, and convenient entry screening for major events.
Cosm's venues, which offer 'Shared Reality' experiences for sports, art, and entertainment events, selected Evolv's technology to match their advanced technological infrastructure. This expansion strengthens Evolv's presence in both markets, where their Express system is already deployed at major venues including SoFi Stadium, Crypto.com Arena, the Hollywood Bowl, and Honda Center in the Los Angeles area.
The San Francisco Giants have extended and expanded their partnership with Evolv Technologies Holdings (NASDAQ: EVLV), becoming the first professional sports team to renew their four-year subscription. The team will upgrade their existing fleet of 20 Evolv Express security screening systems to the latest Gen2 units for the 2025 season at Oracle Park.
The new agreement designates Evolv as a Proud Partner of the Giants. The Gen2 units offer enhanced mobility and easier deployment, continuing the smooth entry process that has been in place since 2021. This upgrade demonstrates how customers can leverage Evolv's subscription business model to access the latest hardware and software technologies.
Evolv Technology (NASDAQ: EVLV) has announced strong customer retention following the FTC-related cancellation period for K-12 education customers. 92% of eligible customers (60 out of 65) chose to maintain their contracts, representing 213 Evolv Express units (90% retention). The company achieved 92% Net Revenue Retention and 94% Net Unit Retention across eligible customers.
Notably, four customers expanded their deployment by adding 10 additional units since the FTC resolution. Only five customers requested cancellation, impacting 24 units and approximately $445,000 in annual recurring revenue (ARR). These cancelling customers will maintain their systems through the 2024-2025 school year.
Wyoming Valley West School District, an eligible customer, increased their Express fleet by 50% due to satisfaction with the system's performance.
Evolv Technology (NASDAQ: EVLV) announced the expansion of its Evolv Express® weapons detection systems at T-Mobile Park, home of the Seattle Mariners, for the 2025 Opening Day. This ballpark-wide implementation builds upon their initial partnership from September 2024, with Evolv being named the 'Preferred Fan Security Screening Provider of the Seattle Mariners'.
T-Mobile Park, with a capacity of 47,368 seats, becomes the latest major league venue to fully adopt Evolv's security technology. The Mariners join eleven other professional baseball teams using Evolv's solutions, including the Boston Red Sox, Houston Astros, and New York Mets. The partnership also marks Evolv's first professional sports customer in Washington State, adding to their presence in the Pacific Northwest where they serve 20 schools, hospitals, and other facilities.
Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) has announced a new business partnership with Sports Illustrated Stadium, home of Major League Soccer's New York Red Bulls. Under this partnership, Evolv has been designated as the Stadium's "Official Fan Screening Partner" and will deploy its Evolv Express® systems at the stadium's main entrances, staff entries, and talent entries.
The Express units will be first commissioned for the New York Red Bulls' 2025 season home opener on March 1. This deployment marks Evolv's twelfth in Major League Soccer, joining venues such as Dignity Health Sports Park, Lower.com Field, and Mercedes-Benz Stadium.
Evolv already has a strong presence in the New York metro area, with its technology being used at Lincoln Center, Citi Field (home of the New York Mets), as well as hospitals, museums, and places of worship. The company screened more than two million MLS fans in 2024 and performs entry screening for five of the top-six MLS teams in attendance.