Evolv Technology Reports Q1 2025 Revenue Growth and Plans for SEC Filing Update

Evolv Technology Holdings, Inc. (NASDAQ: EVLV), a leading security technology company, has provided a preliminary financial update for the first quarter of 2025. According to the company's estimates, total revenue for Q1 2025 is expected to range between $31.0 and $32.0 million, marking a significant increase from the $22.2 million reported in the same period of 2024. Of the projected revenue, less than $0.1 million is attributed to the recent restatement completed by the company. As of March 31, 2025, Evolv had a robust balance sheet with total cash, cash equivalents, and marketable securities amounting to $35 million, and no outstanding debt. In line with its regulatory obligations, Evolv will file a Form 12b-25 with the Securities and Exchange Commission (SEC) to request an extension for the submission of its Q1 2025 Form 10-Q. The extension is necessary due to the time-consuming processes involved in completing and filing the company's Annual Report on Form 10-K for 2024 and the Q1 2024 Form 10-Q. Management anticipates filing the Q1 2025 Form 10-Q within the five-day grace period allowed under Rule 12b-25 of the Securities Exchange Act of 1934. Evolv has been making strides in advancing security technology through the use of artificial intelligence (AI). The company's mission is to transform security, creating safer environments in iconic venues, schools, hospitals, and public spaces. Since 2019, Evolv's advanced systems have screened over two billion people, integrating seamlessly with digital gateways to provide powerful analytics and insights. Notably, Evolv's Evolv Express® system has received the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT). Additionally, the company secured the Security Industry Association (SIA) 2024 New Products and Solutions Award in the Law Enforcement/Public Safety/Guarding Systems category, along with Sport Business Journal's (SBJ) 2024 awards for "Best In Fan Experience Technology" and "Best In Sports Technology." Key Trademarks and Technologies Evolv's product portfolio includes several trademarks: Evolv®, Evolv Express®, Evolv Insights®, Evolv Visual Gun Detection™, Evolv eXpedite™, and Evolv Eva™. These technologies are designed to enhance security through efficient and non-intrusive threat detection methods, making them highly valuable in various settings where large numbers of people congregate. Upcoming Investor Communications Evolv is set to release its final financial results for Q1 2025 on May 20, 2025, after the market closes. Following the release, senior management will host a live webcast at 4:30 p.m. Eastern Time to discuss the financial performance and provide insights into the company's strategic outlook. The webcast will be accessible via http://ir.evolvtechnology.com. Industry Insider Evaluation Industry experts view Evolv's Q1 2025 performance as a positive indication of its growth trajectory and market positioning. The significant year-over-year revenue increase suggests strong demand for its innovative security solutions. However, they also note the need for continued focus on expanding market share and maintaining technological leadership in the competitive security technology sector. Evolv's recent awards and recognitions underscore its reputation for excellence and its commitment to enhancing public safety. Company Profile Evolv Technology Holdings, Inc. is headquartered in Waltham, Massachusetts. The company specializes in AI-driven security solutions that aim to make security checks faster, more efficient, and less intrusive. Evolv's technologies have been deployed in critical locations worldwide, and the company continues to innovate and improve its offerings to meet evolving security challenges. For more information, visit evolv.com. Forward-Looking Statements This update contains forward-looking statements that reflect the company's current expectations and projections about future events and financial trends. These statements are based on management’s beliefs and assumptions, but actual results may differ due to various risks and uncertainties, including regulatory changes, market competition, and operational challenges. Investors are advised to consider the detailed "Risk Factors" section in Evolv's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on April 28, 2025. Evolv does not undertake any obligation to update these forward-looking statements.