Q2 25 EPS
$-0.02
BEAT +42.86%
Est. $-0.04
Q2 25 Revenue
$32.5M
BEAT +5.17%
Est. $30.9M
vs S&P Since Q2 25
-44.3%
TRAILING MARKET
EVLV -30.3% vs S&P +14.0%
Market Reaction
Did EVLV Beat Earnings? Q2 2025 Results
Evolv Technologies delivered a clean beat across the board in the second quarter of 2025, posting adjusted EPS of negative $0.02 against a consensus estimate of negative $0.04, a 42.86% positive surprise, while revenue of $32.54 million grew 27.4% ye… Read more Evolv Technologies delivered a clean beat across the board in the second quarter of 2025, posting adjusted EPS of negative $0.02 against a consensus estimate of negative $0.04, a 42.86% positive surprise, while revenue of $32.54 million grew 27.4% year-over-year and topped estimates by 5.17%. The headline driver was a continued surge in subscription adoption, with recurring revenue of $26.68 million growing 27% and annual recurring revenue reaching $110.52 million, providing durable visibility into future cash flows. Perhaps more telling than the top-line beat was the swing in operating cash flow to positive $2.10 million from negative $21.60 million a year ago, reflecting the operational discipline that also pushed adjusted EBITDA into positive territory at $2.04 million. Cantor Fitzgerald raised its price target on the stock to $9 following the results, citing the company's strong positioning under new management. Building on the momentum, Evolv raised its full-year 2025 revenue guidance to $132 to $135 million, implying 27% to 30% growth, and expects to reach positive cash flow in the fourth quarter.
Key Takeaways
- • 29% year-over-year revenue growth driven by customer acquisition and expansion
- • ARR of $110.5 million, up 27% year-over-year
- • Surpassed 1,000 customers served
- • Recurring revenue grew 27% year-over-year to $26.7 million
- • Adjusted operating expenses decreased to $21.6 million from $26.7 million year-over-year
- • Operating cash flow improved to $2.1 million positive from $(21.6) million in Q2 2024
EVLV YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
EVLV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter results were marked by strong revenue growth, continued customer acquisition and expansion, and improved visibility that positions us well as we evolve into a more predictable and scalable business. We believe that surpassing 1,000 customers served—and having screened over 3 billion visitors to date—reflects the market's growing trust in our solutions. Looking ahead, we're encouraged by the opportunity in the AI-based security screening market and remain focused on delivering consistent, high-quality performance.”
— John Kedzierski, Q2 2025 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% |