Q1 26 EPS
$-0.02
BEAT +0.00%
Est. $-0.02
Q1 26 Revenue
$46.3M
BEAT +6.00%
Est. $43.7M
vs S&P Since Q1 26
+4,124.3%
BEATING MARKET
EVLV +4,123.1% vs S&P -1.2%
Market Reaction
Did EVLV Beat Earnings? Q1 2026 Results
Evolv Technologies Holdings delivered a strong start to fiscal 2026, posting first-quarter revenue of $46.33 million, a 45% year-over-year increase fueled by new customer wins, expanded deployments across its installed base, and growing adoption of i… Read more Evolv Technologies Holdings delivered a strong start to fiscal 2026, posting first-quarter revenue of $46.33 million, a 45% year-over-year increase fueled by new customer wins, expanded deployments across its installed base, and growing adoption of its newest product, Evolv eXpedite. The top-line acceleration was driven in large part by a surge in non-recurring product revenue, which climbed to $13.42 million from just $2.32 million a year ago as more customers opted to purchase hardware outright, though that mix shift compressed GAAP gross margin to 50.9% from 59.8% in the prior-year period. The company reported a loss per share of $0.02, while Adjusted EBITDA improved to $3.94 million with an 8.5% margin, up from $2.06 million a year ago. Annual Recurring Revenue reached $127.30 million, up 20% year-over-year. With momentum building, Evolv raised its full-year 2026 revenue outlook to $175.00 million to $180.00 million, reflecting 20% to 23% growth, while targeting ending ARR of $145.00 million to $150.00 million and positive full-year Adjusted EBITDA with margins in the high single digits.
Key Takeaways
- • Strong new customer additions driving revenue growth
- • Continued expansion of deployments across existing customer base
- • Growing adoption of Evolv eXpedite product
- • 142% year-over-year growth in non-recurring revenue
- • 21% year-over-year growth in recurring revenue
- • Adjusted EBITDA margin improvement to 8.5% from 6.4% in Q1 2025
EVLV Forward Guidance & Outlook
The company raised its 2026 revenue outlook to $175–$180 million (from $172–$178 million previously), reflecting approximately 20%–23% year-over-year growth. Ending ARR at December 31, 2026 is expected to increase to approximately $145–$150 million, reflecting 20%–25% year-over-year growth. Approximately 45% of new unit deployments in 2026 are expected to be delivered under the pure subscription model, with 55% through the purchase-subscription model. The company expects positive full-year Adjusted EBITDA with margins in the high single digits.
EVLV YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
EVLV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter results reflect our progress in building a disciplined and predictable business. Revenue growth during the quarter was driven by new customer acquisition, expanding deployments within our installed base, and growing adoption of our newest product — Evolv eXpedite. Looking ahead, we remain focused on scaling the business and delivering weapon screening in complex, real-world environments across the growing customer base we are serving—helping make the world a better place to live, learn, work, and play.”
— John Kedzierski, Q1 2026 Earnings Press Release
EVLV Earnings Trends
EVLV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EVLV EPS Trend
Earnings per share: estimate vs actual
EVLV Revenue Trend
Quarterly revenue: estimate vs actual
EVLV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.02 | $-0.02 | +0.00% | $46.3M | +6.00% |
| Q4 25 MISS FY | $-0.02 | $-0.03 | -28.76% | $38.5M | +5.65% |
| FY Full Year | — | $-0.10 | — | $145.9M | — |
| Q3 25 BEAT | $-0.03 | $-0.02 | +39.94% | $42.9M | +27.22% |
| Q2 25 BEAT | $-0.04 | $-0.02 | +42.86% | $32.5M | +5.17% |
| Q1 25 BEAT | $-0.05 | $-0.02 | +60.00% | $32.0M | +14.37% |