Q3 25 EPS
$-0.02
BEAT +39.94%
Est. $-0.03
Q3 25 Revenue
$42.9M
BEAT +27.22%
Est. $33.7M
vs S&P Since Q3 25
-25.9%
TRAILING MARKET
EVLV -16.8% vs S&P +9.1%
Market Reaction
Did EVLV Beat Earnings? Q3 2025 Results
Evolv Technologies posted a standout third quarter, with revenue of $42.85 million climbing 56.6% year-over-year and clearing the consensus estimate by 27.22%, while an adjusted loss of $0.02 per share beat the $0.03 consensus by nearly 40%. The head… Read more Evolv Technologies posted a standout third quarter, with revenue of $42.85 million climbing 56.6% year-over-year and clearing the consensus estimate by 27.22%, while an adjusted loss of $0.02 per share beat the $0.03 consensus by nearly 40%. The headline figures were meaningfully lifted by roughly $7.50 million in non-recurring items, including the company's largest-ever customer order, IP license fees tied to a distribution model being phased out, and short-term rental agreements that concluded in the period, all of which inflated results above the underlying run rate. Still, the core business showed genuine momentum, with annual recurring revenue reaching $117.20 million, up 25% year-over-year, and adjusted EBITDA turning positive at $5.13 million compared to a loss of $3.02 million a year ago. Gross margin compressed to 49.7% from 57.8%, reflecting a heavier product revenue mix. Despite a sharp pullback in the stock following the report, management raised full-year 2025 revenue guidance to $142.00 million–$145.00 million and now expects high-single-digit adjusted EBITDA margins, with cash flow positive results anticipated in the fourth quarter.
Key Takeaways
- • Strong new customer acquisition with 62 new customers added in Q3 2025
- • Continued expansion of deployments across existing customer base
- • Largest customer order in company history contributed approximately $3 million in product revenue
- • IP license fees and distribution fulfillment model revenue contributed approximately $3 million (model being phased out)
- • Short-term rental agreements concluding contributed approximately $1.5 million
- • ARR grew 25% year-over-year to $117.2 million
- • Recurring revenue of $30.1 million grew 27% year-over-year
EVLV YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
EVLV Revenue by Segment
With YoY comparisons, source: SEC Filings
“We made meaningful progress across many key measures of the business in the third quarter—including subscribers, revenue, and annual recurring revenue, as well as important indicators of profitability and liquidity.”
— John Kedzierski, Q3 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% |