Evolv Technologies Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 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.
Jun 30, 2025 · Filed Aug 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (As Restated) · (As Restated) | ||||
| Revenue: | ||||
| Product revenue | $2,528 | $1,954 | $4,850 | $3,445 |
| Subscription revenue | 20,200 | 15,655 | 39,437 | 29,874 |
| Service revenue | 6,686 | 5,566 | 13,416 | 10,818 |
| License fee and other revenue | 3,130 | 2,049 | 6,848 | 3,268 |
| Total revenue * | 32,544 | 25,224 | 64,551 | 47,405 |
| Cost of revenue: | ||||
| Cost of product revenue | 5,351 | 2,839 | 8,535 | 5,953 |
| Cost of subscription revenue | 8,894 | 6,309 | 16,790 | 11,894 |
| Cost of service revenue | 1,710 | 1,147 | 3,415 | 2,345 |
| Cost of license fee and other revenue | 371 | 172 | 443 | 301 |
| Total cost of revenue | 16,326 | 10,467 | 29,183 | 20,493 |
| Gross profit | 16,218 | 14,757 | 35,368 | 26,912 |
| Operating expenses: | ||||
| Research and development | 4,737 | 5,850 | 9,599 | 12,246 |
| Sales and marketing | 11,736 | 16,357 | 22,779 | 32,216 |
| General and administrative | 17,238 | 14,061 | 32,210 | 25,867 |
| Restructuring costs | — | 860 | 2,662 | 860 |
| Total operating expenses | 33,711 | 37,128 | 67,250 | 71,189 |
| Loss from operations | (17,493) | (22,371) | (31,882) | (44,277) |
| Other (expense) income, net: | ||||
| Interest expense | — | — | (1) | — |
| Interest income | 224 | 681 | 613 | 1,766 |
| Other income (expense), net | 136 | (39) | 161 | (67) |
| Change in fair value of contingent earn-out liability | (14,200) | 16,514 | (5,224) | 23,413 |
| Change in fair value of contingently issuable common stock liability | (3,900) | 3,747 | (2,247) | 4,274 |
| Change in fair value of public warrant liability | (5,303) | 4,886 | (3,582) | 7,037 |
| Total other (expense) income, net | (23,043) | 25,789 | (10,280) | 36,423 |
| (Loss) income before income taxes | (40,536) | 3,418 | (42,162) | (7,854) |
| (Benefit) provision for income taxes | (1) | — | 62 | — |
| Net (loss) income | $(40,535) | $3,418 | $(42,224) | $(7,854) |
| Net (loss) income attributable to common stockholders – basic and diluted (Note 12) | $(40,535) | $3,377 | $(42,224) | $(7,854) |
| Weighted average common shares outstanding | ||||
| Basic | 165,252,554 | 156,473,080 | 163,042,749 | 154,774,899 |
| Diluted | 165,252,554 | 171,563,943 | 163,042,749 | 154,774,899 |
| Net loss per share | ||||
| Basic | $(0.25) | $0.02 | $(0.26) | $(0.05) |
| Diluted | $(0.25) | $0.02 | $(0.26) | $(0.05) |
| Net (loss) income | $(40,535) | $3,418 | $(42,224) | $(7,854) |
| Other comprehensive (loss) income | ||||
| Cumulative translation adjustment | (85) | 8 | (131) | 11 |
| Total other comprehensive (loss) income | (85) | 8 | (131) | 11 |
| Total comprehensive (loss) income | $(40,620) | $3,426 | $(42,355) | $(7,843) |
*Includes related party revenue of $1.9 million (as restated) and $3.9 million (as restated)for thethree and six months ended June 30, 2024, respectively. There wasno related party revenue for thethree and six months ended June 30, 2025.
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