Evolv Technologies Holdings, Inc.
For the period ended Mar 31, 2025. Filed May 20, 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.
Mar 31, 2025 · Filed May 20, 2025
EVLV$4.44-6.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (As Restated) | ||
| Revenue: | ||
| Product revenue | $2,322 | $1,491 |
| Subscription revenue | 19,237 | 14,219 |
| Service revenue | 6,730 | 5,252 |
| License fee and other revenue | 3,718 | 1,219 |
| Total revenue * | 32,007 | 22,181 |
| Cost of revenue: | ||
| Cost of product revenue | 3,184 | 3,114 |
| Cost of subscription revenue | 7,896 | 5,585 |
| Cost of service revenue | 1,705 | 1,198 |
| Cost of license fee and other revenue | 72 | 129 |
| Total cost of revenue | 12,857 | 10,026 |
| Gross profit | 19,150 | 12,155 |
| Operating expenses: | ||
| Research and development | 4,862 | 6,396 |
| Sales and marketing | 11,043 | 15,859 |
| General and administrative | 14,972 | 11,806 |
| Restructuring costs | 2,662 | — |
| Total operating expenses | 33,539 | 34,061 |
| Loss from operations | (14,389) | (21,906) |
| Other income, net: | ||
| Interest expense | (1) | — |
| Interest income | 389 | 1,085 |
| Other income (expense), net | 25 | (28) |
| Change in fair value of contingent earn-out liability | 8,976 | 6,899 |
| Change in fair value of contingently issuable common stock liability | 1,653 | 527 |
| Change in fair value of public warrant liability | 1,721 | 2,151 |
| Total other income, net | 12,763 | 10,634 |
| Loss before income taxes | (1,626) | (11,272) |
| Provision for income taxes | (63) | — |
| Net loss | $(1,689) | $(11,272) |
| Weighted average common shares outstanding – basic and diluted | 160,808,391 | 153,076,719 |
| Net loss per share - basic and diluted | $(0.01) | $(0.07) |
| Net loss | $(1,689) | $(11,272) |
| Other comprehensive (loss) income | ||
| Cumulative translation adjustment | (46) | 3 |
| Total other comprehensive (loss) income | (46) | 3 |
| Total comprehensive loss | $(1,735) | $(11,269) |
*Includes related party revenue of $1.9 million for the three months ended March 31, 2024. There wasno related party revenue for three months ended March 31, 2025.
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