Evolv Technologies Holdings Inc
NASDAQ:EVLV
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Evolv Technologies Holdings Inc
Evolv Technologies Holdings, Inc. engages in the manufacture and development of security screening products. The company is headquartered in Houston, Texas and currently employs 102 full-time employees. The company went IPO on 2020-02-29. The firm is a global artificial intelligence (AI)-based weapons detection for security screening. Its touchless security screening solutions use AI software, software as a service (SaaS) cloud services and advanced sensors to detect any weapons. The Company’s products include Evolv Express and Evolv Edge. Its Evolv Express product is a touchless security screening system designed to detect firearms, improvised explosive devices and tactical knives in unstructured people flows. Evolv Express supports a maximum screening throughput of over 3,600 people per hour. Evolv Edge product supports structured single-file people flows. The company provides maximum screening throughput of over 800 people per hour. Its subsidiaries include Evolv Technologies, Inc., Evolv Technology UK Ltd. and Give Evolv LLC.
Evolv Technologies Holdings, Inc. engages in the manufacture and development of security screening products. The company is headquartered in Houston, Texas and currently employs 102 full-time employees. The company went IPO on 2020-02-29. The firm is a global artificial intelligence (AI)-based weapons detection for security screening. Its touchless security screening solutions use AI software, software as a service (SaaS) cloud services and advanced sensors to detect any weapons. The Company’s products include Evolv Express and Evolv Edge. Its Evolv Express product is a touchless security screening system designed to detect firearms, improvised explosive devices and tactical knives in unstructured people flows. Evolv Express supports a maximum screening throughput of over 3,600 people per hour. Evolv Edge product supports structured single-file people flows. The company provides maximum screening throughput of over 800 people per hour. Its subsidiaries include Evolv Technologies, Inc., Evolv Technology UK Ltd. and Give Evolv LLC.
Strong Revenue Growth: Evolv reported Q3 revenue of $42.9 million, up 57% year-over-year, driven by new customer wins, expanded deployments, and large contracts, including the biggest in company history.
ARR Momentum: Annual recurring revenue reached $117.2 million, up 25% year-over-year, with management expecting ARR growth to outpace revenue growth in 2026.
Profitability: The company achieved its fourth consecutive quarter of positive adjusted EBITDA, with a 12% margin in Q3.
Raised Guidance: Full-year 2025 revenue outlook was raised to $142–$145 million, now targeting 37% to 40% growth, up from prior guidance of 27% to 30%.
Business Model Shift: Evolv continues its transition from legacy distribution to direct selling, which is increasing recurring revenue but temporarily pressuring gross margins.
Product and Market Expansion: Strong adoption of the new eXpedite bag screening solution, and ongoing traction across education, healthcare, and sports/entertainment verticals.
Cash Flow and Financial Health: Cash and equivalents rose to $56 million. The company expects to generate positive cash flow in Q4 2025.
2026 Outlook: Management expects to add more units, keep ARPU stable, and model $160–$165 million in revenue with at least 20% ARR growth.
