Evolv Technologies Holdings, Inc.
ir.evolvtechnology.comWhat Do They Do?
Sells AI-powered systems that screen people and bags for weapons, along with cloud software and support, to schools, hospitals and venue operators.
10-K for FY2025, filed Mar 10, 2026Evolv Technologies Holdings, Inc., a Delaware corporation formed in 2021 (“we,” “us,” “our,” the “Company” and “Evolv”) is a leading…View ↗
We focus on weapons detection and offer two core solutions that can be deployed independently or together and are supported by data and…View ↗
Our offering is bundled together by the services included in our subscription. We recognize that the primary mission of our customers is…View ↗
How Do They Make Money?
$145.9M
-
10-K for FY2025, filed Mar 10, 2026
$145.9M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Product
|
15%
FY2022: 57%
|
Product, FY2025
$21.6M Sources
|
|
Subscription and Circulation
|
57%
FY2022: 32%
|
Subscription and Circulation, FY2025
$83.8M Sources
|
|
Service
|
20%
FY2022: 8.7%
|
Service, FY2025
$29.4M Sources
|
|
License Fee And Other Revenue
|
7.6%
FY2022: 2.5%
|
License Fee And Other Revenue, FY2025
$11.1M Sources
|
Who Are Their Customers?
Venue and facility operators—including schools and hospitals, sports and entertainment venues, and workplaces—buy through Evolv’s direct sales force or reseller partners. Resellers can also install and integrate systems, with support from Evolv.
10-K for FY2025, filed Mar 10, 2026
Do Revenues Turn Into Profits?
No. It lost $33.1M in FY2025.
10-K for FY2025, filed Mar 10, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
−$9.3MView ↗
- ▼ −77% (Loss)
- vs −$40.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 11, 2026
Open tableView ↗
Growing. Revenue grew 6.2x in 4 years, from $23.4M in FY2021 to $145.9M in FY2025, about 58% a year.
Automated bag screening
The older report described touchless screening generally; the latest names a separate AI system for automatically screening bags, either on its own or with the people-screening system.
10-K for FY2022, filed Mar 24, 2023 10-K for FY2025, filed Mar 10, 2026Unlike traditional walk-through metal detectors, our touchless security screening solutions use AI software, software-as-a-service (“SaaS”)…View ↗
In September 2024, we launched Evolv eXpedite, an autonomous AI-based weapons detection system for bags being brought to venues by visitors…View ↗
Hardware sales models
The older report planned to lead with hardware leases and use distributor licensing for customers buying equipment; the latest offers leased or purchased hardware with a subscription and no longer offers distributor licensing.
10-K for FY2022, filed Mar 24, 2023 10-K for FY2025, filed Mar 10, 2026During the year ending December 31, 2023, we intend to begin exclusively leading with our "pure subscription" sales model, where the…View ↗
We sell our solutions under two primary sales models. We offer a “pure subscription” model, where the customer leases hardware from us and…View ↗
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