Free Trial
Your Portfolio Deserves Better! MarketBeat All Access for Just $149
Upgrade Now
Claim MarketBeat All Access Sale Promotion

Evolv Technologies (EVLVW) Financials

Evolv Technologies logo
$0.06 0.00 (-3.08%)
Closing price 05/19/2026 03:09 PM Eastern
Extended Trading
$0.06 0.00 (-7.71%)
As of 05/19/2026 06:23 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Compare
Annual Income Statements for Evolv Technologies

Annual Income Statements for Evolv Technologies

This table shows Evolv Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -27 -11 -87 -108 -54 -33
Consolidated Net Income / (Loss)		 -27 -11 -87 -108 -54 -33
Net Income / (Loss) Continuing Operations		 -27 -11 -87 -108 -54 -33
Total Pre-Tax Income 		-27 -11 -87 -108 -54 -33
Total Operating Income		 -27 -55 -103 -90 -82 -48
Total Gross Profit		 1.29 4.03 1.40 32 59 75
Total Revenue		 4.79 23 53 80 104 146
Operating Revenue		 4.79 23 53 80 104 146
Total Cost of Revenue		 3.50 19 51 48 44 71
Total Operating Expenses		 28 59 104 122 142 124
Selling, General & Admin Expense		 5.11 20 38 42 57 55
Marketing Expense		 7.37 26 47 55 61 46
Research & Development Expense		 16 11 19 24 23 21
Impairment Charge		 0.00 1.87 1.16 0.32 0.22 0.00
Restructuring Charge		 - - - - 0.86 2.66
Total Other Income / (Expense), net		 -0.50 44 16 -18 28 15
Interest Expense		 0.50 19 0.71 1.28 0.00 1.73
Interest & Investment Income		 - 0.00 3.17 6.23 2.94 1.54
Other Income / (Expense), net		 0.00 63 14 -23 25 16
Income Tax Expense		 - - 0.00 0.05 0.00 0.06
Basic Earnings per Share		 ($3.07) ($0.15) ($0.60) ($0.72) ($0.34) ($0.20)
Weighted Average Basic Shares Outstanding		 8.93M 71.66M 143.86M 149.17M 156.57M 168.42M
Diluted Earnings per Share		 ($3.07) ($0.15) ($0.60) ($0.72) ($0.34) ($0.20)
Weighted Average Diluted Shares Outstanding		 8.93M 71.66M 143.86M 149.17M 156.57M 168.42M
Weighted Average Basic & Diluted Shares Outstanding		 - 143.30M 147.96M 152.18M - 179.35M

Quarterly Income Statements for Evolv Technologies

This table shows Evolv Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 4.98 -17 -11 3.38 -30 -16 -1.69 -41 -1.80 11 -5.01
Consolidated Net Income / (Loss)		 5.05 -17 -11 3.42 -30 -16 -1.69 -41 -1.80 11 -5.01
Net Income / (Loss) Continuing Operations		 5.05 -17 -11 3.42 -30 -16 -1.69 -41 -1.80 11 -5.01
Total Pre-Tax Income 		5.05 -17 -11 3.42 -30 -16 -1.63 -41 -1.80 11 -5.05
Total Operating Income		 -21 -22 -22 -22 -19 -19 -14 -17 -8.60 -7.99 -8.47
Total Gross Profit		 11 10 12 15 16 17 19 16 21 19 24
Total Revenue		 20 22 22 25 27 29 32 33 43 39 46
Operating Revenue		 20 22 22 25 27 29 32 33 43 39 46
Total Cost of Revenue		 9.07 12 10 10 12 12 13 16 22 20 23
Total Operating Expenses		 32 32 34 37 35 36 34 34 30 27 32
Selling, General & Admin Expense		 11 11 12 14 14 17 15 17 13 10 14
Marketing Expense		 14 15 16 16 15 13 11 12 12 11 13
Research & Development Expense		 6.39 6.26 6.40 5.85 5.81 5.39 4.86 4.74 5.61 5.41 5.89
Restructuring Charge		 - - 0.00 0.86 0.00 - 2.66 0.00 0.00 - 0.00
Total Other Income / (Expense), net		 26 5.07 11 26 -11 3.16 13 -23 6.80 19 3.43
Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.71 1.02 0.96
Interest & Investment Income		 1.79 1.63 1.09 0.68 0.63 0.55 0.39 0.22 0.44 0.49 0.52
Other Income / (Expense), net		 24 3.44 9.55 25 -12 2.61 12 -23 7.08 19 3.87
Income Tax Expense		 - - 0.00 0.00 0.00 - 0.06 -0.00 0.00 - -0.04
Basic Earnings per Share		 $0.03 ($0.10) ($0.07) $0.02 ($0.19) ($0.10) ($0.01) ($0.25) ($0.01) $0.07 ($0.03)
Weighted Average Basic Shares Outstanding		 150.21M 149.17M 153.08M 156.47M 157.71M 156.57M 160.81M 165.25M 172.79M 168.42M 177.06M
Diluted Earnings per Share		 $0.03 ($0.09) ($0.07) $0.02 ($0.19) ($0.10) ($0.01) ($0.25) ($0.01) $0.07 ($0.03)
Weighted Average Diluted Shares Outstanding		 173.98M 149.17M 153.08M 171.56M 157.71M 156.57M 160.81M 165.25M 172.79M 168.42M 177.06M
Weighted Average Basic & Diluted Shares Outstanding		 151.13M 152.18M 156.09M 157.55M - 0.00 164.00M 171.89M 174.62M 179.35M 179.87M

Annual Cash Flow Statements for Evolv Technologies

This table details how cash moves in and out of Evolv Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -13 303 -78 -163 -30 12
Net Cash From Operating Activities		 -23 -57 -75 -9.80 -31 19
Net Cash From Continuing Operating Activities		 -23 -57 -75 -9.80 -31 19
Net Income / (Loss) Continuing Operations		 -27 -11 -87 -108 -54 -33
Consolidated Net Income / (Loss)		 -27 -11 -87 -108 -54 -33
Depreciation Expense		 1.07 2.90 5.44 9.70 17 24
Amortization Expense		 - - 0.00 -0.58 0.45 -0.13
Non-Cash Adjustments To Reconcile Net Income		 0.79 -38 13 51 5.59 15
Changes in Operating Assets and Liabilities, net		 2.29 -11 -6.41 38 -0.25 13
Net Cash From Investing Activities		 -6.61 -18 -24 -123 -1.40 -42
Net Cash From Continuing Investing Activities		 -6.61 -18 -24 -123 -1.40 -42
Purchase of Property, Plant & Equipment		 -6.61 -18 -24 -73 -37 -37
Purchase of Investments		 - - 0.00 -90 -29 -39
Sale and/or Maturity of Investments		 - - 0.00 39 65 35
Net Cash From Financing Activities		 17 378 21 -30 1.81 35
Net Cash From Continuing Financing Activities		 17 378 21 -30 1.81 35
Issuance of Debt		 22 32 30 1.88 0.00 26
Other Financing Activities, net		 0.44 86 0.83 0.67 1.81 9.09
Effect of Exchange Rate Changes		 - 0.00 -0.01 -0.04 0.02 -0.11
Cash Interest Paid		 0.41 0.85 0.58 0.71 0.00 1.25

Quarterly Cash Flow Statements for Evolv Technologies

This table details how cash moves in and out of Evolv Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -26 -33 -23 -8.90 10 -9.29 -12 12 -5.44 18 6.93
Net Cash From Operating Activities		 2.10 -3.14 -16 -22 3.91 3.20 -2.54 2.11 3.52 16 -3.18
Net Cash From Continuing Operating Activities		 2.10 -3.14 -16 -22 3.91 3.20 -2.54 2.11 3.52 16 -3.18
Net Income / (Loss) Continuing Operations		 6.00 -17 -11 3.46 -30 -16 -1.69 -41 -1.80 11 -5.01
Consolidated Net Income / (Loss)		 6.00 -17 -11 3.46 -30 -16 -1.69 -41 -1.80 11 -5.01
Depreciation Expense		 2.69 3.15 3.46 3.97 4.49 5.44 5.53 5.79 6.54 6.48 6.80
Amortization Expense		 -0.24 -0.09 0.20 -0.02 0.08 0.19 0.07 0.06 -0.12 -0.14 0.45
Non-Cash Adjustments To Reconcile Net Income		 -18 4.92 -1.72 -15 20 1.15 -7.00 33 0.97 -12 2.04
Changes in Operating Assets and Liabilities, net		 11 5.77 -6.82 -14 9.11 12 0.55 4.12 -2.08 10 -7.46
Net Cash From Investing Activities		 -29 -30 -6.72 13 6.00 -13 -9.36 5.75 -40 1.40 9.76
Net Cash From Continuing Investing Activities		 -29 -30 -6.72 13 6.00 -13 -9.36 5.75 -40 1.40 9.76
Purchase of Property, Plant & Equipment		 -19 -19 -21 -3.04 -4.72 -8.10 -14 -4.13 -15 -3.57 -4.97
Purchase of Investments		 -29 -31 -15 - - -15 -9.88 - -25 -4.91 0.00
Sale and/or Maturity of Investments		 20 20 29 16 11 9.65 15 9.88 - 9.88 15
Net Cash From Financing Activities		 0.27 0.05 0.30 0.33 0.52 0.66 0.02 4.08 31 0.68 0.32
Net Cash From Continuing Financing Activities		 0.27 0.05 0.30 0.33 0.52 0.66 0.02 4.08 31 0.68 0.32
Other Financing Activities, net		 0.27 0.05 0.30 0.33 0.52 0.66 0.02 4.08 4.31 0.68 0.32
Effect of Exchange Rate Changes		 0.03 -0.04 0.00 0.01 -0.09 0.10 -0.05 -0.09 0.03 -0.00 0.03
Cash Interest Paid		 - - - - - - 0.00 - - 0.73 0.45

Annual Balance Sheets for Evolv Technologies

This table presents Evolv Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 22 363 344 297 268 304
Total Current Assets		 9.79 331 289 173 121 151
Cash & Equivalents		 4.70 307 230 67 37 49
Short-Term Investments		 - - 0.00 51 15 20
Accounts Receivable		 1.40 6.48 26 22 28 31
Inventories, net		 1.59 2.89 12 10 17 9.32
Prepaid Expenses		 1.54 11 15 17 18 35
Other Current Assets		 0.56 3.10 5.56 5.78 6.23 6.94
Plant, Property, & Equipment, net		 10 24 45 113 124 128
Total Noncurrent Assets		 1.73 7.95 11 11 23 26
Other Noncurrent Operating Assets		 1.73 7.95 11 11 23 26
Total Liabilities & Shareholders' Equity		 22 363 344 297 268 304
Total Liabilities		 31 73 118 153 150 185
Total Current Liabilities		 13 24 59 81 97 123
Accounts Payable		 4.44 6.05 18 17 10 9.77
Accrued Expenses		 4.21 9.55 12 16 20 35
Current Deferred Revenue		 3.77 6.73 18 47 65 75
Other Current Liabilities		 0.00 0.00 1.11 1.39 2.20 2.99
Total Noncurrent Liabilities		 17 48 39 72 54 62
Long-Term Debt		 16 7.95 - - 0.00 29
Noncurrent Deferred Revenue		 0.48 2.81 14 25 20 17
Other Noncurrent Operating Liabilities		 0.00 38 25 47 33 17
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -8.93 290 227 144 118 119
Total Preferred & Common Equity		 -85 290 227 144 118 119
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -8.93 290 227 144 118 119
Common Stock		 86 396 419 445 472 507
Retained Earnings		 -95 -106 -193 -301 -355 -388
Accumulated Other Comprehensive Income / (Loss)		 0.00 0.00 -0.01 -0.05 -0.03 -0.14

Quarterly Balance Sheets for Evolv Technologies

This table presents Evolv Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 326 306 308 306 282 269 278 256 280 304 305
Total Current Assets		 275 235 216 202 142 138 134 104 133 152 152
Cash & Equivalents		 218 181 126 100 45 36 46 25 37 32 56
Short-Term Investments		 - - 30 39 36 21 9.96 9.93 0.00 25 4.99
Accounts Receivable		 21 23 32 30 22 36 35 34 42 49 43
Inventories, net		 6.73 8.82 5.03 7.83 11 19 16 10 12 8.77 8.26
Prepaid Expenses		 20 14 14 17 21 20 21 18 36 31 33
Other Current Assets		 7.70 6.56 8.38 7.58 7.05 6.50 5.95 6.26 6.44 7.17 6.84
Plant, Property, & Equipment, net		 41 60 81 94 129 120 121 130 125 127 128
Total Noncurrent Assets		 10 11 11 11 10 11 23 23 22 26 25
Other Noncurrent Operating Assets		 10 11 11 11 10 11 23 23 22 26 25
Total Liabilities & Shareholders' Equity		 326 306 308 306 282 269 278 256 280 304 305
Total Liabilities		 77 102 164 150 141 115 149 135 188 202 184
Total Current Liabilities		 41 51 68 81 80 79 89 94 143 119 126
Accounts Payable		 11 19 17 14 16 5.57 8.62 7.12 12 4.72 17
Accrued Expenses		 8.88 6.48 11 12 14 16 17 19 38 34 30
Current Deferred Revenue		 16 24 39 53 49 56 62 65 72 78 75
Other Current Liabilities		 1.11 1.12 1.13 1.66 1.71 1.75 2.19 2.42 21 2.77 3.12
Total Noncurrent Liabilities		 36 51 96 70 61 36 60 41 45 83 58
Long-Term Debt		 4.96 0.00 0.00 0.00 - - - - - 29 29
Noncurrent Deferred Revenue		 9.23 21 21 19 23 24 24 20 19 18 17
Other Noncurrent Operating Liabilities		 22 30 75 50 38 12 36 21 26 36 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 248 204 144 156 142 153 129 121 93 102 121
Total Preferred & Common Equity		 248 204 144 156 142 153 129 121 93 102 121
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 248 204 144 156 142 153 129 121 93 102 121
Common Stock		 412 425 432 438 452 460 468 477 490 501 514
Retained Earnings		 -164 -221 -288 -282 -310 -307 -339 -356 -397 -399 -393
Accumulated Other Comprehensive Income / (Loss)		 0.04 -0.03 -0.04 -0.01 -0.05 -0.04 -0.13 -0.08 -0.16 -0.14 -0.11

Annual Metrics And Ratios for Evolv Technologies

This table displays calculated financial ratios and metrics derived from Evolv Technologies' official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 174,617,589.00
DEI Adjusted Shares Outstanding		 - - - - - 174,617,589.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.19
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -19 -39 -72 -62 -58 -34
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -48.97% -22.92%
Earnings before Interest and Taxes (EBIT)		 -27 7.87 -89 -111 -57 -33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -26 11 -83 -102 -39 -8.67
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -27 -106 -62 -98 -47
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 3.99 -7.67 27 28 66 79
Increase / (Decrease) in Invested Capital		 0.00 -12 35 0.71 40 13
Book Value per Share		 ($0.52) $2.04 $1.57 $0.97 $0.75 $0.68
Tangible Book Value per Share		 ($0.52) $2.04 $1.57 $0.97 $0.75 $0.68
Total Capital		 7.50 300 257 146 118 148
Total Debt		 16 9.95 30 0.00 0.00 29
Total Long-Term Debt		 16 7.95 20 0.00 0.00 29
Net Debt		 12 -298 -200 -119 -52 -40
Capital Expenditures (CapEx)		 6.61 18 24 72 37 37
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -7.56 0.90 14 -25 -27 -41
Debt-free Net Working Capital (DFNWC)		 -2.85 309 243 94 25 28
Net Working Capital (NWC)		 -2.85 307 233 94 25 28
Net Nonoperating Expense (NNE)		 8.56 -28 15 44 -3.60 -0.79
Net Nonoperating Obligations (NNO)		 13 -298 -200 -119 -52 -40
Total Depreciation and Amortization (D&A)		 1.07 2.90 5.47 9.36 18 24
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.15) $0.00 ($0.71) ($0.34) ($0.20)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 71.66M 0.00 149.17M 156.57M 168.42M
Adjusted Diluted Earnings per Share		 $0.00 ($0.15) $0.00 ($0.71) ($0.34) ($0.20)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 71.66M 0.00 149.17M 156.57M 168.42M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 143.30M 0.00 152.18M 0.00 179.35M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -37 -71 -62 -57 -32
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Evolv Technologies

This table displays calculated financial ratios and metrics derived from Evolv Technologies' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - 157,550,036.00 - - - 174,617,589.00 179,350,739.00
DEI Adjusted Shares Outstanding		 - - - - - 157,550,036.00 - - - 174,617,589.00 179,350,739.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.10 - - - 0.06 -0.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 22.15% 4.48% 16.61% 28.83% 37.07% - 44.30% 29.02% 56.62% - 44.74%
EBITDA Growth		 136.91% 44.87% 65.79% 110.11% -581.99% - 141.23% -627.51% 118.57% - -26.07%
EBIT Growth		 121.60% 37.68% 54.99% 104.05% -1,054.56% - 83.70% -1,589.22% 95.11% - -128.35%
NOPAT Growth		 -8.69% 18.30% 0.95% -35.00% 36.74% - 34.31% 45.26% 55.12% - 41.12%
Net Income Growth		 132.23% 40.33% 59.30% 105.19% -703.31% - 85.02% -1,285.93% 94.10% - -196.57%
EPS Growth		 123.08% 52.63% 60.00% 104.44% -733.33% - 85.71% -1,350.00% 94.74% - -200.00%
Operating Cash Flow Growth		 112.39% 40.78% -368.35% -311.18% 86.22% - 84.28% 109.79% -4.11% - -25.21%
Free Cash Flow Firm Growth		 102.39% 69.91% -148.19% -673.20% -5,763.36% - 31.15% 121.82% 88.82% - 77.68%
Invested Capital Growth		 -58.35% 2.65% 172.72% 880.50% 354.17% - 44.42% -42.34% 2.50% - 2.59%
Revenue Q/Q Growth		 1.85% 8.07% -0.70% 17.87% 7.13% - 0.00% 1.68% 31.67% - 20.32%
EBITDA Q/Q Growth		 110.01% -331.33% 41.24% 174.32% -493.76% - 0.00% -1,073.40% 114.05% - -85.07%
EBIT Q/Q Growth		 106.13% -538.90% 31.08% 121.85% -1,217.26% - 0.00% -1,923.83% 96.27% - -140.30%
NOPAT Q/Q Growth		 -22.38% 24.23% -1.70% -43.17% 39.95% - 0.00% -21.57% 50.86% - 25.73%
Net Income Q/Q Growth		 108.99% -381.55% 31.06% 129.73% -979.35% - 0.00% -2,299.94% 95.57% - -146.03%
EPS Q/Q Growth		 106.67% -400.00% 11.11% 125.00% -1,050.00% - 0.00% -2,400.00% 96.00% - -142.86%
Operating Cash Flow Q/Q Growth		 139.41% -249.88% -411.71% -36.04% 117.85% - 0.00% 183.22% 66.78% - -120.42%
Free Cash Flow Firm Q/Q Growth		 -90.44% -832.37% -232.34% -146.26% 46.61% - 0.00% 178.46% -127.34% - 61.64%
Invested Capital Q/Q Growth		 229.34% 72.36% 115.89% 62.17% -24.74% - 0.00% -35.25% 33.80% - 11.75%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 56.41% 47.02% 54.33% 56.66% 57.78% - 59.83% 49.83% 49.72% - 50.94%
EBITDA Margin		 32.99% -70.62% -41.79% 26.35% -96.86% - 11.21% -107.29% 11.45% - 5.72%
Operating Margin		 -100.24% -100.39% -102.82% -87.42% -70.00% - -44.96% -53.75% -20.06% - -18.29%
EBIT Margin		 20.84% -84.64% -58.75% 10.89% -113.56% - -6.29% -125.25% -3.54% - -9.93%
Profit (Net Income) Margin		 29.71% -77.40% -53.74% 13.56% -111.27% - -5.28% -124.55% -4.19% - -10.81%
Tax Burden Percent		 100.00% 100.30% 100.00% 100.00% 100.00% - 103.87% 100.00% 100.00% - 99.27%
Interest Burden Percent		 142.56% 91.17% 91.48% 124.49% 97.98% - 80.73% 99.45% 118.24% - 109.72%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 -292.63% -207.45% -147.62% -185.18% -105.77% - -49.14% -59.78% -26.03% - -23.53%
ROIC Less NNEP Spread (ROIC-NNEP)		 -307.62% -206.48% -150.61% -209.39% -88.42% - -63.46% 0.80% -36.09% - -26.27%
Return on Net Nonoperating Assets (RNNOA)		 266.21% 176.34% 115.11% 150.05% 60.90% - 28.28% -0.30% 13.11% - 7.33%
Return on Equity (ROE)		 -26.42% -31.11% -32.51% -35.13% -44.87% - -20.86% -60.09% -12.93% - -16.21%
Cash Return on Invested Capital (CROIC)		 -157.16% -229.42% -244.07% -175.66% -264.31% - -108.25% -10.54% -58.90% - -36.73%
Operating Return on Assets (OROA)		 5.24% -21.05% -16.69% 3.37% -37.19% - -2.66% -55.22% -1.66% - -5.67%
Return on Assets (ROA)		 7.47% -19.25% -15.27% 4.20% -36.43% - -2.23% -54.91% -1.96% - -6.18%
Return on Common Equity (ROCE)		 -26.42% -31.11% -32.51% -35.13% -44.87% - -20.86% -60.09% -12.93% - -16.21%
Return on Equity Simple (ROE_SIMPLE)		 -75.37% 0.00% -63.06% -12.46% -43.69% - -36.70% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -20 -15 -16 -22 -13 -13 -10 -12 -6.02 -7.99 -5.93
NOPAT Margin		 -100.24% -70.27% -71.97% -87.42% -49.00% - -31.47% -37.63% -14.04% - -12.80%
Net Nonoperating Expense Percent (NNEP)		 14.99% -0.98% 2.99% 24.22% -17.35% - 14.33% -60.58% 10.05% - 2.73%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -10.39% -11.23% -8.32% -13.22% -4.60% -5.39% -3.97%
Cost of Revenue to Revenue		 43.59% 52.98% 45.67% 43.34% 42.22% - 40.17% 50.17% 50.28% - 49.06%
SG&A Expenses to Revenue		 55.83% 50.49% 54.64% 55.54% 51.08% - 46.78% 52.97% 29.36% - 29.17%
R&D to Revenue		 31.74% 28.70% 28.64% 22.40% 21.24% - 15.19% 14.56% 13.09% - 12.70%
Operating Expenses to Revenue		 156.65% 147.41% 157.14% 144.08% 127.78% - 104.79% 103.59% 69.78% - 69.23%
Earnings before Interest and Taxes (EBIT)		 4.21 -18 -13 2.78 -31 -16 -2.01 -41 -1.52 11 -4.60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6.66 -15 -9.06 6.73 -27 -11 3.59 -35 4.91 18 2.65
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.67 4.88 4.78 2.60 4.95 - 4.06 11.05 12.69 - 8.99
Price to Tangible Book Value (P/TBV)		 4.67 4.88 4.78 2.60 4.95 - 4.06 11.05 12.69 - 8.99
Price to Revenue (P/Rev)		 9.17 8.87 8.11 4.46 6.66 - 4.32 8.46 9.51 - 6.77
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 36.78 21.55 10.01 3.54 8.00 - 5.31 17.71 17.04 - 11.93
Enterprise Value to Revenue (EV/Rev)		 7.41 7.39 7.14 3.83 6.08 - 4.02 8.15 9.30 - 6.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 - 0.00 152.86 201.54 - 58.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.28 - 0.24
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.28 - 0.24
Financial Leverage		 -0.87 -0.85 -0.76 -0.72 -0.69 - -0.45 -0.38 -0.36 - -0.28
Leverage Ratio		 1.56 1.73 1.70 1.94 2.05 - 2.05 2.23 2.52 - 2.32
Compound Leverage Factor		 2.23 1.58 1.56 2.41 2.01 - 1.65 2.22 2.98 - 2.54
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 21.82% - 19.19%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 21.82% - 19.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00% 78.18% - 80.81%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 -0.77 - -2.99
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.75 - 3.38
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 -0.77 - -2.99
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 -0.69 - -0.96
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.67 - 1.09
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 -0.69 - -0.96
Altman Z-Score		 2.40 1.85 1.76 1.10 1.03 - 0.70 1.20 2.58 - 2.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.50 2.14 1.77 1.74 1.50 - 1.10 0.93 1.27 - 1.21
Quick Ratio		 2.09 1.72 1.29 1.17 1.02 - 0.74 0.55 0.88 - 0.82
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.19 -16 -53 -131 -70 -54 -37 29 -7.84 -21 -8.16
Operating Cash Flow to CapEx		 10.99% -16.89% -74.94% -720.18% 82.80% - -17.77% 51.22% 23.48% - -64.03%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -36,534.30 0.00 -10.99 - -8.48
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -2,539.00 0.00 4.94 - -3.30
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -16,825.00 0.00 -16.11 - -8.47
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.25 0.25 0.28 0.31 0.33 - 0.42 0.44 0.47 - 0.57
Accounts Receivable Turnover		 3.12 2.95 3.70 2.59 2.96 - 4.02 3.09 3.26 - 4.15
Inventory Turnover		 7.67 4.71 4.31 3.50 3.72 - 4.50 3.47 5.05 - 8.79
Fixed Asset Turnover		 1.18 1.02 0.88 0.89 0.89 - 0.88 0.99 1.10 - 1.24
Accounts Payable Turnover		 4.46 2.62 2.45 3.68 3.99 - 4.18 6.13 9.48 - 6.65
Days Sales Outstanding (DSO)		 117.07 123.75 98.75 140.77 123.19 - 90.70 117.98 111.96 - 87.92
Days Inventory Outstanding (DIO)		 47.56 77.42 84.79 104.38 98.02 - 81.08 105.34 72.26 - 41.53
Days Payable Outstanding (DPO)		 81.76 139.43 148.74 99.30 91.53 - 87.38 59.54 38.49 - 54.89
Cash Conversion Cycle (CCC)		 82.87 61.74 34.80 145.85 129.68 - 84.41 163.78 145.72 - 74.56
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16 28 60 97 73 66 86 56 75 79 88
Invested Capital Turnover		 2.92 2.95 2.05 2.12 2.16 - 1.56 1.59 1.85 - 1.84
Increase / (Decrease) in Invested Capital		 -22 0.71 38 109 57 40 26 -41 1.82 13 2.23
Enterprise Value (EV)		 589 595 596 342 582 - 457 986 1,270 - 1,053
Market Capitalization		 729 713 677 398 638 - 492 1,023 1,298 - 1,085
Book Value per Share		 $1.04 $0.97 $0.93 $0.98 $0.82 $0.75 $0.77 $0.57 $0.59 $0.68 $0.67
Tangible Book Value per Share		 $1.04 $0.97 $0.93 $0.98 $0.82 $0.75 $0.77 $0.57 $0.59 $0.68 $0.67
Total Capital		 156 146 142 153 129 118 121 93 131 148 149
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29 29 29
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29 29 29
Net Debt		 -140 -119 -81 -56 -56 -52 -35 -37 -28 -40 -32
Capital Expenditures (CapEx)		 19 19 21 3.04 4.72 8.10 14 4.13 15 3.57 4.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -19 -25 -19 2.04 -11 -27 -26 -47 -24 -41 -35
Debt-free Net Working Capital (DFNWC)		 121 94 62 58 45 25 9.37 -9.81 32 28 26
Net Working Capital (NWC)		 121 94 62 58 45 25 9.37 -9.81 32 28 26
Net Nonoperating Expense (NNE)		 -26 1.56 -3.95 -26 17 2.51 -8.38 28 -4.22 -19 -0.92
Net Nonoperating Obligations (NNO)		 -140 -119 -82 -56 -56 -52 -35 -37 -28 -40 -32
Total Depreciation and Amortization (D&A)		 2.45 3.06 3.67 3.95 4.57 5.63 5.60 5.84 6.42 6.35 7.25
Debt-free, Cash-free Net Working Capital to Revenue		 -23.98% -31.00% -22.91% 2.28% -11.84% - -22.56% -38.63% -17.53% - -21.82%
Debt-free Net Working Capital to Revenue		 152.29% 116.64% 74.10% 65.56% 46.91% - 8.24% -8.10% 23.66% - 16.30%
Net Working Capital to Revenue		 152.29% 116.64% 74.10% 65.56% 46.91% - 8.24% -8.10% 23.66% - 16.30%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.04 ($0.10) ($0.08) $0.02 ($0.19) ($0.10) ($0.01) ($0.25) ($0.01) $0.07 ($0.03)
Adjusted Weighted Average Basic Shares Outstanding		 150.21M 149.17M 153.08M 156.47M 157.71M 156.57M 160.81M 165.25M 172.79M 168.42M 177.06M
Adjusted Diluted Earnings per Share		 $0.03 ($0.09) ($0.08) $0.02 ($0.19) ($0.10) ($0.01) ($0.25) ($0.01) $0.07 ($0.03)
Adjusted Weighted Average Diluted Shares Outstanding		 173.98M 149.17M 153.08M 171.56M 157.71M 156.57M 160.81M 165.25M 172.79M 168.42M 177.06M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 151.13M 152.18M 156.09M 157.55M 0.00 0.00 164.00M 171.89M 174.62M 179.35M 179.87M
Normalized Net Operating Profit after Tax (NOPAT)		 -14 -15 -16 -16 -13 -13 -8.21 -12 -6.02 -5.59 -5.93
Normalized NOPAT Margin		 -70.07% -70.27% -71.97% -61.19% -48.47% - -25.65% -37.63% -14.04% - -12.80%
Pre Tax Income Margin		 29.71% -77.17% -53.74% 13.56% -111.27% - -5.08% -124.56% -4.19% - -10.89%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -2,014.00 0.00 -2.13 - -4.78
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -10,072.30 0.00 -8.44 - -6.16
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -16,300.00 0.00 -23.18 - -9.94
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - -24,358.30 0.00 -29.49 - -11.33
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Below are key takeaways from Evolv Technologies (EVLV) quarterly results over the last four years, focusing on trends in the income statements, cash flows, and balance sheets. The focus is on items that could matter for a retail investor evaluating the stock’s risk and potential.

  • Positive revenue momentum and margin: In Q4 2025, operating revenue was $38.50M with gross profit $18.63M, yielding a gross margin near 48%. This indicates the company is generating meaningful top-line activity and a solid gross margin for a technology-driven operator.
  • Cash flow from operations turning positive in late 2025: Net cash from continuing operating activities was $15.57M in Q4 2025, marking a shift from earlier quarters where CFO was negative. This suggests improving cash generation from core operations.
  • Solid near-term liquidity on the balance sheet (Q3 2025): Total current assets of $151.64M exceed total current liabilities of $119.35M, providing a cushion for day-to-day obligations and suggesting reasonable short-term liquidity.
  • Improved cash balance in 2025 relative to early 2025: Cash and equivalents stood at about $31.50M on the Q3 2025 balance sheet, higher than some earlier periods (e.g., Q1 2025 around $25.1M), supporting liquidity as operating cash flow improves.
  • One-off non-operating items dominate earnings in Q4 2025: Other income/expense net was about $18.90M and non-cash adjustments were negative $11.76M, which boosted net income in that quarter but do not reflect ongoing operating profitability.
  • Earnings per share show volatility from quarter to quarter: 2025 quarters exhibit swings in basic/diluted EPS (e.g., positive in Q4 2025 vs. negative in several earlier quarters), largely driven by non-operating items and discrete adjustments rather than a steady operating earnings trend.
  • Persistent operating losses despite revenue: Total operating income remained negative in Q4 2025 (-$7.99M) and Q3 2025 (-$8.60M), indicating ongoing operating losses even as revenue rises in some periods.
  • Frequent net losses, including a large quarterly swing: Net income attributable to common shareholders was -$40.54M in Q2 2025, and remained negative in Q1 2025 (-$1.69M) and Q3 2025 (-$1.80M), underscoring ongoing profitability risk despite occasional positives from non-operating items.
  • Substantial investing cash outflows continue apace: Quarterly purchases of property, plant & equipment and investments contributed meaningful outflows (e.g., Q3 2025 PPE of $15.01M; Q1 2025 PPE of about $14.10M; Q4 2025 PPE of $3.57M), which weigh on free cash flow even when CFO turns positive.
  • Balance sheet leverage remains notable: As of Q3 2025, Total Liabilities were about $202.05M versus Total Equity of about $102.24M, implying a liabilities-to-equity balance near 2:1 and a higher leverage base that could stress profitability if operating trends deteriorate.
05/20/26 01:04 AM ETAI Generated. May Contain Errors.

Evolv Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Evolv Technologies' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Evolv Technologies' net income appears to be on an upward trend, with a most recent value of -$33.14 million in 2025, rising from -$27.39 million in 2020. The previous period was -$54.02 million in 2024.

Evolv Technologies' total operating income in 2025 was -$48.46 million, based on the following breakdown:
  • Total Gross Profit: $75.30 million
  • Total Operating Expenses: $123.77 million

Over the last 5 years, Evolv Technologies' total revenue changed from $4.79 million in 2020 to $145.91 million in 2025, a change of 2,949.2%.

Evolv Technologies' total liabilities were at $184.99 million at the end of 2025, a 23.0% increase from 2024, and a 502.7% increase since 2020.

In the past 5 years, Evolv Technologies' cash and equivalents has ranged from $4.70 million in 2020 to $307.49 million in 2021, and is currently $49.15 million as of their latest financial filing in 2025.

Over the last 5 years, Evolv Technologies' book value per share changed from -0.52 in 2020 to 0.68 in 2025, a change of -232.1%.


Related Companies

Financial statements for NASDAQ:EVLVW last updated on 5/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
Trump's gold order: the announcement they won't put on the front page
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
Reagan Gold Group | Sponsoredtc pixel
Iran's New Leader Just Said Something That Should Terrify Every American
Iran's Supreme Leader has declared the Strait of Hormuz closed as leverage against the U.S. - and with 40% of ...
American Alternative | Sponsoredtc pixel
Hey, it's Jon Najarian. The SpaceX IPO is right around the corner. But I discovered Elon may have something BIGGER planned. Check this out before June 9th...
After being invited to the SpaceX launch headquarters in Cape Canaveral from one of Elon's top lobbyists… Hall...
Banyan Hill Publishing | Sponsoredtc pixel
I’m sounding the alarm
Meta is cutting 10% of its workforce. Microsoft offered voluntary retirement to 7% of U.S. employees. Oracle, ...
Porter & Company | Sponsoredtc pixel
Your book attached
Veteran trader Bill Poulos is giving away his 'Simple Options Trading For Beginners' book - normally $29.97 - ...
Profits Run | Sponsoredtc pixel
The one number Musk can't hide in the S-1
When SpaceX files its S-1 in June, one number will stand out - power consumption. Running 1 million GPUs requi...
Behind the Markets | Sponsoredtc pixel
He doesn't buy gold. He just profits from it.
Former hedge fund manager Larry Benedict generated $274 million in profits - and Barron's ranked his fund in t...
Brownstone Research | Sponsoredtc pixel
ALERT: Drop these 5 stocks before the market opens tomorrow!
The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings researc...
Weiss Ratings | Sponsoredtc pixel