olivLaw · US equity research
Evolv Technologies Holdings, Inc. EVLV
Computer Peripheral Equipment, NEC · SIC 3577 · Vertical: Computer Peripheral Equipment, NEC (SIC 3577)
Evolv Technologies sells AI-powered screening systems that detect weapons, delivered as Security-as-a-Service with hardware and a software subscription. The company reported revenue of 43.8 million USD for the second quarter of 2026, in a context where demand for screening at public venues is growing.
At the close of 04 Nov 2026, Evolv Technologies Holdings, Inc. (EVLV) stock was 4.81 USD (+3.89% on the day), with market capitalisation 871.2 m USD, beta 1.38, 52-week range 4.05–7.36 USD. Latest reported quarter (Q2 2026): revenue of 43.8 m USD (+34.4% YoY), net income of -9.3 m USD, diluted EPS -0.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 56.4
- strong (55–70)
- Bollinger (20, 2)
- 4.02 – 4.93
- in the upper half of the band · %B 0.86 · band width 20.4%
- SMA 50 / 200
- 4.75 / 5.62
- mixed trend
- MACD (12, 26, 9)
- 0.00 / -0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.4% | −1.1% | +8.5 pp | — |
| 3 months | −19.6% | −0.5% | −19.2 pp | — |
| 6 months | −32.3% | +4.4% | −36.7 pp | — |
| Year to date | −32.8% | +12.3% | −45.1 pp | — |
| 1 year | −33.6% | +13.5% | −47.1 pp | −9.7% |
| 3 years | +6.4% | +76.4% | −70.0 pp | −9.4% |
| 5 years | −23.5% | +63.7% | −87.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 27.4 m | 29.1 m | 32.0 m | 32.5 m | 42.9 m | 38.5 m | 46.3 m | 43.8 m |
| Cost of revenue | 11.6 m | 12.4 m | 12.9 m | 16.3 m | 21.5 m | 19.9 m | 22.7 m | 21.8 m |
| Gross profit | 15.8 m | 16.7 m | 19.2 m | 16.2 m | 21.3 m | 18.6 m | 23.6 m | 22.0 m |
| Research & development | 5.8 m | 5.4 m | 4.9 m | 4.7 m | 5.6 m | 5.4 m | 5.9 m | 5.8 m |
| Operating income | -19.2 m | -18.9 m | -14.4 m | -17.5 m | -8.6 m | -8.0 m | -8.5 m | -10.6 m |
| Depreciation & amortisation | 4.6 m | 5.4 m | 5.5 m | 5.8 m | 6.5 m | 6.5 m | 6.8 m | 7.1 m |
| Interest expense | 0 | 0 | 1.0 k | 0 | 713.0 k | 1.0 m | 962.0 k | 965.0 k |
| Pre-tax income | -30.4 m | -15.7 m | -1.6 m | -40.5 m | -1.8 m | 10.9 m | -5.0 m | -9.3 m |
| Income tax | 0 | 0 | 63.0 k | -1.0 k | 0 | 0 | -37.0 k | 0 |
| Net income | -30.4 m | -15.7 m | -1.7 m | -40.5 m | -1.8 m | 10.9 m | -5.0 m | -9.3 m |
| Diluted EPS | -0.19 | -0.10 ≈ | -0.01 | -0.25 | -0.01 | 0.06 ≈ | -0.03 | -0.05 |
| Operating cash flow | 3.7 m ≈ | 3.2 m | -2.5 m | 2.1 m ≈ | 3.5 m ≈ | 15.6 m | -3.2 m | 11.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | ⚠ 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 4.8 m | 23.4 m | 52.7 m | 79.6 m | 103.9 m | 145.9 m |
| Revenue YoY | unavailable | +388.9% | — | +50.9% | +30.5% | +40.5% |
| Net income | -27.4 m | -10.9 m | -86.8 m | -108.0 m | -54.0 m | -33.1 m |
| Net income YoY | unavailable | unavailable | — | unavailable | unavailable | unavailable |
| Diluted EPS | -3.07 | -0.15 | -0.60 | -0.72 | -0.34 | -0.20 |
| Diluted EPS YoY | unavailable | unavailable | — | unavailable | unavailable | unavailable |
| net % | -572.5% | -46.5% | -164.6% | -135.8% | -52.0% | -22.7% |
| Free cash flow | -29.9 m | -60.5 m | unavailable | unavailable | unavailable | unavailable |
The series breaks before 2022: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 49.2 m USD
- Financial debt
- 28.6 m USD
- Net debt
- -20.6 m USD
- Equity
- 119.4 m USD
- Total assets
- 304.4 m USD
- Debt / equity
- 0.24x
- Current ratio
- 1.23x
- ROE
- -28.0%
- ROA
- -11.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.8 m | 23.4 m | 52.7 m | 79.6 m | 103.9 m | 145.9 m | SEC (XBRL)· 10 Mar 2026verified |
| Cost of revenue | 3.5 m | 19.4 m | 51.3 m | 47.7 m | 44.4 m | 70.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Gross profit | 1.3 m | 4.0 m | 1.4 m | 31.9 m | 59.5 m | 75.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Research & development | 15.7 m | 11.5 m | 18.5 m | 24.5 m | 23.4 m | 20.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Operating income | -26.9 m | -55.3 m | -103.0 m | -90.1 m | -82.3 m | -48.5 m | SEC (XBRL)· 10 Mar 2026verified |
| Depreciation & amortisation | 1.1 m | 2.9 m | 5.4 m | 9.7 m | 17.4 m | 24.3 m | SEC (XBRL)· 10 Mar 2026verified |
| EBITDA | -25.8 m ≈ | -52.4 m ≈ | -97.5 m ≈ | -80.4 m ≈ | -64.9 m ≈ | -24.1 m ≈ | SEC (XBRL)· 10 Mar 2026derived |
| Interest expense | 430.0 k | 6.1 m | 712.0 k | 654.0 k | 0 | 1.7 m | SEC (XBRL)· 10 Mar 2026verified |
| Pre-tax income | -27.4 m | -10.9 m | -86.8 m | -108.0 m | -54.0 m | -33.1 m | SEC (XBRL)· 10 Mar 2026verified |
| Income tax | 0 | 0 | 0 | 51.0 k | 0 | 62.0 k | SEC (XBRL)· 10 Mar 2026verified |
| Net income | -27.4 m | -10.9 m | -86.8 m | -108.0 m | -54.0 m | -33.1 m | SEC (XBRL)· 10 Mar 2026verified |
| Diluted EPS | -3.07 | -0.15 | -0.60 | -0.72 | -0.34 | -0.20 | SEC (XBRL)· 10 Mar 2026verified |
| Weighted average diluted shares | 8.9 m | 71.7 m | 143.9 m | 149.2 m | 156.6 m | 168.4 m | SEC (XBRL)· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 4.7 m | 307.5 m | 229.8 m | 67.2 m | 37.0 m | 49.2 m | SEC (XBRL)· 10 Mar 2026verified |
| Receivables | 1.4 m | 6.5 m | 26.4 m | 21.5 m | 28.4 m | 30.8 m | SEC (XBRL)· 10 Mar 2026verified |
| Inventories | 1.6 m | 2.9 m | 12.4 m | 10.3 m | 17.0 m | 9.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Current assets | 9.8 m | 331.1 m | 288.7 m | 173.4 m | 121.4 m | 151.3 m | SEC (XBRL)· 10 Mar 2026verified |
| Property, plant & equipment, net | 10.1 m | 23.8 m | 44.7 m | 113.2 m | 123.7 m | 127.5 m | SEC (XBRL)· 10 Mar 2026verified |
| Total assets | 21.8 m | 362.9 m | 344.2 m | 297.1 m | 268.1 m | 304.4 m | SEC (XBRL)· 10 Mar 2026verified |
| Accounts payable | 4.4 m | 6.0 m | 18.2 m | 17.4 m | 10.5 m | 9.8 m | SEC (XBRL)· 10 Mar 2026verified |
| Short-term debt | — | 2.0 m | 10.0 m | 0 | 0 | 0 | SEC (XBRL)· 10 Mar 2026verified |
| Long-term debt | 16.4 m | 7.9 m | 19.7 m | 0 | 0 | 28.6 m | SEC (XBRL)· 10 Mar 2026verified |
| Current liabilities | 12.6 m | 24.3 m | 58.9 m | 81.3 m | 96.7 m | 123.0 m | SEC (XBRL)· 10 Mar 2026verified |
| Total liabilities | 30.7 m | 72.6 m | 117.6 m | 153.0 m | 150.4 m | 185.0 m | SEC (XBRL)· 10 Mar 2026verified |
| Equity | -84.8 m † | 290.3 m † | 226.6 m † | 144.1 m † | 117.7 m † | 119.4 m † | SEC (XBRL)· 10 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -23.3 m | -56.8 m | -74.7 m | -9.8 m | -30.9 m | 18.7 m | SEC (XBRL)· 10 Mar 2026verified |
| Capex | 6.6 m | 3.7 m | — | — | — | — | SEC (XBRL)· 28 Mar 2022verified |
| Free cash flow | -29.9 m ≈ | -60.5 m ≈ | — | — | — | — | SEC (XBRL)· 24 Mar 2023derived |
| Investing cash flow | -6.6 m | -17.6 m | -23.9 m | -123.1 m | -1.4 m | -41.8 m | SEC (XBRL)· 10 Mar 2026verified |
| Financing cash flow | 17.2 m | 377.8 m | 20.5 m | -29.7 m | 1.8 m | 35.4 m | SEC (XBRL)· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 51 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 871.2 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet22
- Quality25
- Valuation20
- Growth98
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.92 – 1.84 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/Sales0.92 – 1.84 (Mid 1.06)4 companies used · median multiple 1.0x · quartiles 0.8x – 1.8xCRSR, MITK, MYND, XRX
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 51/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 49.9% | 25 (on a fixed band) | 16% |
| EBIT margin · Quality | -20.8% | 25 (vs peers) | 13% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 40.4% | 100 (on a fixed band) | 25% |
| Revenue growth (YoY) · Growth | 40.5% | 94 (vs peers) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.2x | 22 (on a fixed band) | 9% |
| EV/Sales · Valuation | 4.9x | 20 (vs peers) | 25% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial22/100 · 1/2 factors with a value
- Growth98/100 · 2/2 factors with a value
- Quality25/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial20/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Evolv Technologies Holdings, Inc. (EVLV). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 145.9 m USD in 2025; YoY growth 40.5%; net margin -3.0%; ROE -4.9%.
The estimated value range is 0.92–1.84 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.06 USD, the price of 4.81 USD leaves a potential of -77.9% (value / price − 1) and a margin of safety of -353.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 51/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 40.4%
- Revenue growth (YoY): 40.5%
What contradicts it
- Gross margin: 49.9%
- EBIT margin: -20.8%
- Current ratio: 1.2x
- EV/Sales: 4.9x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF margin, Net debt / EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Computer Peripheral Equipment, NEC (SIC 3577) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| PANWPalo Alto Networks, Inc. | 284.7 bn | 870.1 | 1.7% | 2.7% | +24.5% | +83% / +136% |
| FTNTFortinet, Inc. | 95.1 bn | 42.1 | 153.1% | 29.0% | +14.2% | +59% / +146% |
| LOGILogitech International S.A. | 14.2 bn | 18.1 | 38.2% | 16.4% | +6.3% | −11% / +14% |
| CRSRCorsair Gaming, Inc. | 1.4 bn | 41.4 | 5.8% | 2.5% | +11.9% | +104% / +3% |
| EVLVEvolv Technologies Holdings, Inc. | 871.2 m | — | -4.9% | -3.0% | +40.5% | −34% / +6% |
| MITKMitek Systems, Inc. | 861.4 m | 40.7 | 9.2% | 11.4% | +4.4% | +115% / +69% |
| SSYSStratasys Ltd. | 587.3 m | — | -12.7% | -18.9% | −3.7% | −22% / −38% |
| IMMRImmersion Corporation | 237.8 m | 21.6 | 3.5% | 0.6% | +11.2% | +1% / +10% |
| RDCMRadcom Ltd. | 168.7 m | 14.3 | 11.4% | 16.8% | +17.2% | −22% / +29% |
| XRXXerox Holdings Corp | 155.0 m | — | -128.0% | -11.9% | +12.9% | −58% / −92% |
| MYNDMynd.ai, Inc. | 126.0 m | — | -995.5% | -32.2% | −37.2% | −56% / −97% |
| INVEInve Technologies, Inc. | 64.0 m | — | -10.9% | -62.9% | −19.3% | −22% / −62% |
| TACTTransact Technologies Inc | 54.4 m | — | -1.3% | -0.8% | +18.7% | +19% / −22% |
| LINKInterlink Electronics, Inc | 52.3 m | — | -10.5% | -7.9% | +1.8% | −8% / −39% |
| WETHWetouch Technology Inc. | 11.6 m | 1.2 | 6.0% | 17.6% | +6.8% | −57% / unavailable |
| AIMDAinos, Inc. | 5.4 m | — | -196.3% | -106,283.3% | +499.0% | −65% / −95% |
| YIBOPlanet Image International Limited | — | — | -14.4% | -5.3% | +3.6% | +5% / unavailable |
| VTIXVirtuix Holdings Inc. | — | — | — | -543.2% | +18.4% | unavailable / unavailable |
1- and 3-year price returns: for EVLV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Evolv Technologies sells AI-powered screening systems that detect weapons, delivered as Security-as-a-Service with hardware and a software subscription. The company reported revenue of 43.8 million USD for the second quarter of 2026 3, in a context where demand for screening at public venues is growing.
SWOT
Strengths
- Strengths include a long-term subscription model, proprietary data for training algorithms, and a hardware-software integration that is hard to replicate 1.
- Growth in revenue and ARR, together with a widening customer base, shows the product is being adopted across several sectors 3.
- Partnerships with resellers and large venue operators give access to customers the company could not quickly reach on its own 1.
Weaknesses
- The company has not historically been profitable, and net losses remain, although they have narrowed 13.
- Internal control weaknesses led to a restatement of prior-period financial statements 1.
- Reliance on a limited number of component suppliers and a new contract manufacturer creates operational risk 12.
Opportunities
- The addressable location base is large, and expansion into new verticals and international markets could support longer-term growth 1.
- If margins improve as the business scales, the company could reach profitability sooner than it currently projects 3.
- Adding adjacent products and services could increase the average value of each customer 1.
Risks
- Persistent net losseshigh
The company reported net losses in recent years and cannot guarantee long-term profitability 1.
- Internal control and restatementhigh
Material weaknesses in internal control contributed to a restatement of prior financial statements, and remediation is not yet fully validated 1.
- Supply chainmedium
Dependence on limited suppliers and chipset constraints could delay production or raise costs 12.
- Public sector concentrationmedium
Part of revenue comes from government entities, which can have longer and less predictable purchasing cycles 1.
- Detection effectivenessmedium
If products fail to detect threats correctly, reputation and contracts could be seriously affected 1.
Investment thesis
What would need to be true (bull case)
- Growth in revenue, ARR and new customers, together with a raised outlook, shows adoption is accelerating 3.
- The subscription model and proprietary data could create predictable recurring revenue and a technology edge that is hard to copy 1.
- If adjusted margins keep rising, the company could reach a stronger financial profile than it has today 3.
What would break the thesis
- The company is not yet profitable, and net losses could persist if sales and R&D spending grow faster than revenue 1.
- Internal control problems and the earlier restatement could erode investor confidence and raise compliance costs 1.
- Competition and dependence on costly or scarce components could limit margins and growth speed 12.
What to watch
- Delivery against the 2026 revenue outlook of 180 to 185 million USD2026
- Year-end ARR progress toward the 148 to 150 million USD range31 December 2026
- Gross margin trend as the share of purchase subscriptions risesQ3 2026
- Any remediation of internal control weaknesses and subsequent reportingnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Evolv Technologies Holdings, Inc. (EVLV) develops AI-based screening solutions for detecting concealed weapons in high-traffic places such as schools, hospitals, stadiums and houses of worship 1. Its core products are Evolv Express, for screening people, and Evolv eXpedite, for automated bag screening 1.
The business model is Security-as-a-Service: the customer receives hardware, software, data, support and repairs for the contract term, typically four years 13. The company offers a pure subscription and a purchase subscription, both requiring an active connected software subscription 1.
Annual Recurring Revenue and Remaining Performance Obligation are the main indicators the company uses to track adoption and revenue stability 13. Operations are mainly in the United States, with international expansion presented as a future direction 1.
Segments
Evolv Express and Evolv eXpedite
Evolv Express screens high volumes of people for concealed threats, while Evolv eXpedite automatically scans bags without a trained X-ray operator 1. Used together, the two products form a layered checkpoint for high-clutter settings such as schools and multi-tenant offices 1.
Market context
The target market covers public gathering places where screening is increasingly considered, not only airports and courthouses 1. The company estimates these facilities total nearly 400,000 sites and about 700,000 potential thresholds 1. Demand is supported by concerns over gun violence, but revenue depends on how fast customers adopt the technology 1.
The 2026 outlook was raised in August 2026, with revenue expected between 180 and 185 million USD 3. The company said a larger share of purchase subscriptions could lift revenue in the early years of a contract but could temporarily weigh on reported gross margin 3.
Trends
- Concern about gun violencetailwind
The company argues that the need for effective screening could grow given the frequency of mass shootings in the United States 1. If venues that never screened begin to adopt it, demand for its products could increase 1.
- Shift from metal detectors to intelligent screeningtailwind
Many public venues want frictionless screening that reduces queues and physical contact with security staff 13. The company believes this shift could accelerate adoption of its products 1.
- Components and the supply chainheadwind
Capacity limits and the availability of chipsets and memory components could affect deliveries and costs 2. The company signed a contract manufacturing agreement with Plexus to diversify production 12.
- Purchase subscription modelmixed
A higher share of purchase subscriptions speeds up revenue recognition but temporarily reduces gross margin, since hardware costs are recognized upfront 3. The effect is therefore mixed: it supports revenue growth but pressures near-term margins 3.
Competitive position
The company competes with legacy walk-through metal detectors, handheld wands, and passive or active weapon screening systems based on magnetic field sensing, millimeter wave or terahertz imaging 1. Its stated advantage is detection with fewer nuisance alarms and a faster visitor flow 1.
Competition also includes new entrants, and the risk that they reduce sales or profitability is explicitly listed among its risk factors 1. Its competitive position depends largely on proprietary data and software updates to its algorithms 1.
- Legacy walk-through metal detectors
Fixed single-file screening with manual inspection, cited as an older approach that slows entry 1.
- Magnetic field weapon screening systems
Passive or active weapon detection systems based on magnetic field sensing 1.
- Millimeter wave and terahertz imaging systems
Imaging technologies for weapon detection, cited as competing screening alternatives 1.
- Other security screening vendors
Companies selling security screening systems, named as potential competitors and new entrants 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Gorilla Sinks 11% Despite Guiding 2027 Revenue Up to 29% Above Consensus, Evolv Technologies and Ambarella Tick UpYahoo Finance — News · 25 Aug 2026 · EN
SEC filings
- Quarterly report11 Aug 2026
- Current report11 Aug 2026Results of operations · Financial statements and exhibits
- Current report10 Aug 2026Other events
- Current report22 Jun 2026Shareholder vote
- Current report13 May 2026Financial statements and exhibits
- Quarterly report12 May 2026
- Current report12 May 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Apr 2026
- Annual report10 Mar 2026
- Current report10 Mar 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Evolv Technologies Holdings, Inc. · 10 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Evolv Technologies Holdings, Inc. · 11 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Evolv Technologies Holdings, Inc. · 11 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.