Evolv Technologies Holdings, Inc.
For the period ended Sep 30, 2024. Filed Apr 28, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Apr 28, 2025
EVLV$4.44-6.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (Restated) | ||
| Cash flows from operating activities: | ||
| Net loss | $(38,297) | $(90,850) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 11,933 | 6,570 |
| Write-off of inventory and change in inventory reserve | 3,151 | 278 |
| Loss from impairment of property and equipment | 209 | 322 |
| Stock-based compensation | 21,364 | 17,771 |
| Non-cash interest expense | — | 22 |
| Amortization (accretion) of premium (discount) on marketable securities, net of change in accrued interest | 261 | (482) |
| Non-cash lease expense | 1,116 | 136 |
| Change in allowance for expected credit losses | 371 | 237 |
| Loss on extinguishment of debt | — | 626 |
| Change in fair value of earn-out liability | (15,092) | 17,353 |
| Change in fair value of contingently issuable common stock | (2,218) | 3,560 |
| Change in fair value of public warrant liability | (5,461) | 5,345 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (13,679) | (929) |
| Inventory | (8,327) | 4,170 |
| Commission assets | (1,005) | (2,102) |
| Contract assets | 993 | (85) |
| Other assets | 333 | 352 |
| Prepaid expenses and other current assets | (4,093) | (1,973) |
| Accounts payable | 216 | (6,396) |
| Deferred revenue | 13,559 | 39,357 |
| Accrued expenses and other current liabilities | 1,655 | 278 |
| Operating lease liability | (1,046) | (218) |
| Net cash used in operating activities | (34,057) | (6,658) |
| Cash flows from investing activities: | ||
| Development of internal-use software | (4,773) | (2,202) |
| Purchases of property and equipment | (24,443) | (51,646) |
| Proceeds from sale of property and equipment | — | 60 |
| Purchases of marketable securities | (14,567) | (58,652) |
| Proceeds from maturities of marketable securities | 55,635 | 19,647 |
| Net cash provided by (used in) investing activities | 11,852 | (92,793) |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 1,151 | 616 |
| Proceeds from long-term debt | — | 1,876 |
| Repayment of principal on long-term debt | — | (31,876) |
| Payment of debt issuance costs and prepayment penalty | — | (332) |
| Net cash provided by (used in) financing activities | 1,151 | (29,716) |
| Effect of exchange rate changes on cash and cash equivalents | (75) | 1 |
| Net decrease in cash, cash equivalents and restricted cash | (21,129) | (129,166) |
| Cash, cash equivalents and restricted cash | ||
| Cash, cash equivalents and restricted cash at beginning of period | 67,437 | 230,058 |
| Cash, cash equivalents and restricted cash at end of period | $46,308 | $100,892 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | $— | $710 |
| Supplemental disclosure of non-cash activities | ||
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Transfer of property and equipment to inventory | $756 | $191 |
| Capital expenditures incurred but not yet paid | 3,983 | 10,214 |
| Capitalization of stock compensation | 701 | 340 |
| Finback exercise price | — | 348 |
| Operating lease liabilities arising from obtaining right-of-use assets | 14,218 | — |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $46,033 | $99,617 |
| Restricted cash | 275 | 1,000 |
| Restricted cash, noncurrent | — | 275 |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | $46,308 | $100,892 |
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