Evolv Technologies (NASDAQ:EVLV) Releases Earnings Results, Beats Expectations By $0.14 EPS

Evolv Technologies (NASDAQ:EVLV) issued its quarterly earnings data on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.14, Zacks reports. The company had revenue of $38.50 million during the quarter, compared to the consensus estimate of $36.44 million. Evolv Technologies had a negative net margin of 22.71% and a negative return on equity of 31.47%.

Here are the key takeaways from Evolv Technologies’ conference call:

• Raised 2026 outlook — management increased full-year revenue guidance to $172–$178M, expects ARR of $145–$150M (20–25% growth), plans to exceed 10,000 deployed units, and targets high-single-digit adjusted EBITDA margins.
• Strong 2025 results — Q4 revenue was $38.5M (+32% YoY), full-year revenue $145.9M (+40% YoY), ARR $120.5M (+21% YoY), RPO $293.4M, and ~8,000 systems deployed screening millions daily.
• Business model shift to direct fulfillment — bringing purchase subscriptions in-house is increasing captured revenue, ARR and RPO over time but caused a near-term adjusted gross margin headwind and a ~$1M one-time service accrual.
• Product and market traction — early demand for the eXpedite autonomous bag-screening product (65 customers) plus continued Gen 2 upgrades, new wins across education, healthcare, sports, and a preferred-provider designation with the American Hospital Association support expansion.
• Improving profitability and cash — fifth consecutive quarter of positive adjusted EBITDA (2025 adjusted EBITDA $11.1M vs. a $21M loss in 2024), cash and marketable securities rose to $69M, and management expects to be cash-flow positive in H2 2026.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV traded down $0.68 during midday trading on Thursday, reaching $5.08. The company’s stock had a trading volume of 5,412,685 shares, compared to its average volume of 2,966,342. Evolv Technologies has a one year low of $2.64 and a one year high of $8.91. The company has a market cap of $886.20 million, a price-to-earnings ratio of -24.17 and a beta of 1.89. The company has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.90. The company has a current ratio of 1.27, a quick ratio of 1.20 and a debt-to-equity ratio of 0.28.

Analyst Ratings Changes

EVLV has been the topic of a number of recent research reports. Lake Street Capital increased their price target on Evolv Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.13.

Insiders Place Their Bets

In other Evolv Technologies news, Director Michael Ellenbogen sold 91,771 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $5.10, for a total transaction of $468,032.10. Following the completion of the sale, the director directly owned 2,083,961 shares in the company, valued at approximately $10,628,201.10. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 253,261 shares of company stock valued at $1,410,326. Company insiders own 11.30% of the company’s stock.

Institutional Trading of Evolv Technologies

Several large investors have recently added to or reduced their stakes in EVLV. CW Advisors LLC lifted its holdings in shares of Evolv Technologies by 19.0% during the second quarter. CW Advisors LLC now owns 12,614 shares of the company’s stock worth $79,000 after buying an additional 2,014 shares during the last quarter. Victory Capital Management Inc. increased its position in Evolv Technologies by 16.5% during the third quarter. Victory Capital Management Inc. now owns 15,601 shares of the company’s stock worth $118,000 after acquiring an additional 2,206 shares during the period. Advisory Services Network LLC increased its position in Evolv Technologies by 13.2% during the fourth quarter. Advisory Services Network LLC now owns 22,694 shares of the company’s stock worth $162,000 after acquiring an additional 2,651 shares during the period. BNP Paribas Financial Markets raised its stake in Evolv Technologies by 38.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after purchasing an additional 3,596 shares during the last quarter. Finally, IFC & Insurance Marketing Inc. acquired a new position in Evolv Technologies during the 4th quarter valued at $28,000. 66.65% of the stock is owned by institutional investors.

About Evolv Technologies

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.