Evolv Technologies (NASDAQ:EVLV) Releases Quarterly Earnings Results

Evolv Technologies (NASDAQ:EVLV) released its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02), FiscalAI reports. The company had revenue of $47.35 million for the quarter, compared to analysts’ expectations of $45.61 million. Evolv Technologies had a negative net margin of 3.05% and a negative return on equity of 4.53%.

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

• Positive Sentiment: Third-quarter revenue reached a record $47.3 million, up 10% year over year, while ARR grew 20% to $140.5 million and recurring revenue accounted for approximately 69% of revenue. Net revenue retention was 108%, and RPO rose 12% year over year to $325.8 million.
• Positive Sentiment: Evolv narrowed its 2026 revenue outlook to $182 million–$185 million, representing 25%–27% growth, and reaffirmed expected year-end ARR of $148 million–$150 million. Management expects full-year adjusted EBITDA margin in the high single digits.
• Neutral Sentiment: Management expects 2027 revenue growth of at least 20%, while noting prior pricing changes will create a 3–4 percentage-point headwind as more contract value shifts from upfront product revenue to recurring revenue. It expects growth to build through the year and ARR growth to outpace revenue growth.
• Neutral Sentiment: Adjusted EBITDA was $4.7 million, down from $5.1 million a year earlier, and margin declined to 10% from 12% as Evolv invested in sales, marketing, R&D, and internal systems. The company also reported $3.2 million of free cash flow and said growth investments will be funded through operating gross profit and its balance sheet.
• Positive Sentiment: Evolv cited continued customer demand across education, healthcare, venues, and workplaces, along with growing adoption of its eXpedite bag-screening product. Management is expanding sales capacity and developing product upgrades it believes can improve detection and reduce alerts, though the benefits of new seller investments are expected to build over time.

Evolv Technologies Trading Down 6.7%

Shares of EVLV traded down $0.32 during trading hours on Tuesday, hitting $4.44. The stock had a trading volume of 3,438,447 shares, compared to its average volume of 2,558,914. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.18. The firm has a market cap of $804.22 million, a P/E ratio of -148.00 and a beta of 1.83. The company’s fifty day simple moving average is $4.71 and its 200 day simple moving average is $5.59. Evolv Technologies has a 12-month low of $4.02 and a 12-month high of $7.48.

Insiders Place Their Bets

In other news, Director Richard Shapiro purchased 19,100 shares of the stock in a transaction on Friday, September 4th. The stock was purchased at an average price of $4.96 per share, with a total value of $94,736.00. Following the completion of the transaction, the director owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

EVLV has been the topic of several recent analyst reports. LADENBURG THALM/SH SH started coverage on shares of Evolv Technologies in a research note on Tuesday, September 8th. They set a “buy” rating and a $8.00 price objective on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $11.25 target price on shares of Evolv Technologies in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Evolv Technologies in a report on Tuesday, September 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.81.

Trending Headlines about Evolv Technologies

Here are the key news stories impacting Evolv Technologies this week:

• Positive Sentiment: Third-quarter revenue was $47.35 million, ahead of the $45.61 million consensus estimate and up 10.5% year over year. The company also reported higher gross profit and generated $18 million in operating cash flow. Evolv Technologies Reports Q3 Loss, Beats Revenue Estimates
• Positive Sentiment: Evolv expects 2026 revenue of $182 million to $185 million. The range is broadly in line with the $182.4 million FactSet estimate, with the midpoint modestly above it. 2026 Revenue Outlook
• Neutral Sentiment: The company introduced eXpedite 3.0, an update to its AI-powered bag screener featuring guided searches and an integrated view of people and bag screening. The product launch may support its offering, though its near-term financial impact is unclear. Evolv eXpedite 3.0 Announcement
• Negative Sentiment: Profitability remains a concern: a third-party summary said Evolv’s operating loss widened to $14.4 million and its net loss was $15.6 million, despite revenue growth. Investors may focus on whether sales gains can translate into narrower losses. Evolv Q3 Earnings Summary

About Evolv Technologies

Evolv Technologies develops security screening systems designed to detect weapons and other threats in public spaces. Its products combine sensors and artificial intelligence to screen people without requiring the same stop-and-check process used by traditional metal detectors. The company’s offerings include Evolv Express, a screening system for people entering venues, and Evolv eXpedite, which is designed to screen bags and other belongings. Evolv also provides software and analytics tools to help customers manage screening operations.