Evolv Technologies (NASDAQ:EVLV) Issues Quarterly Earnings Results

Evolv Technologies (NASDAQ:EVLV) announced its earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03, Zacks reports. The business had revenue of $46.33 million during the quarter, compared to the consensus estimate of $44.23 million. Evolv Technologies had a negative net margin of 22.75% and a negative return on equity of 33.53%.

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

• Q1 results were strong, with revenue up 45% year over year to $46.3 million, ARR rising 20% to $127.3 million, and Adjusted EBITDA margin improving to 8.5% from 6.4% last year.
• Management raised full-year 2026 revenue guidance to $175 million-$180 million from $172 million-$178 million, citing healthy pipeline, strong execution, and continued demand across end markets.
• The company said its revenue mix is shifting toward purchase subscriptions, which boosts near-term revenue but creates a timing effect, including expected sequential Q2 revenue decline after a heavy Q1 backlog shipment.
• Adoption of Evolv eXpedite is accelerating, with over 75 customers and about 6% of the customer base now using it, up from roughly 1% a year ago; management sees it as a differentiator that can improve unit economics and account expansion.
• Management said it is on track to end 2026 with comfortably over 10,000 units deployed, and expects expanded full-year Adjusted EBITDA margins in the high single digits while remaining on track to be cash flow positive in the second half of 2026.

Evolv Technologies Stock Down 1.9%

Shares of EVLV traded down $0.11 during mid-day trading on Monday, hitting $5.54. 1,687,094 shares of the company traded hands, compared to its average volume of 2,948,021. Evolv Technologies has a 1-year low of $4.86 and a 1-year high of $8.91. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $996.48 million, a PE ratio of -24.09 and a beta of 1.76. The business has a 50 day moving average of $6.34 and a 200 day moving average of $6.19.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EVLV. TD Cowen reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Evolv Technologies in a research report on Tuesday, June 9th. Zacks Research lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings downgraded Evolv Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.67.

Hedge Funds Weigh In On Evolv Technologies

Hedge funds have recently made changes to their positions in the company. CW Advisors LLC boosted its position in Evolv Technologies by 19.0% in the 2nd quarter. CW Advisors LLC now owns 12,614 shares of the company’s stock worth $79,000 after purchasing an additional 2,014 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 buying an additional 2,206 shares in the last quarter. Advisory Services Network LLC grew 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 valued at $162,000 after buying an additional 2,651 shares during the period. BNP Paribas Financial Markets grew its position in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after buying an additional 3,596 shares during the period. Finally, IFC & Insurance Marketing Inc. acquired a new position in shares of Evolv Technologies in the fourth quarter worth about $28,000. 66.65% of the stock is owned by institutional investors and hedge funds.

Evolv Technologies Company Profile

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.