Evolv Technologies (EVLV) Q1 2026 Earnings
How Did EVLV Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +0.48%.
Did EVLV Beat Earnings? Q1 2026 Results
Yes. Evolv Technologies reported Q1 2026 earnings of $-0.02 a share on May 12, 2026, beating the $-0.02 consensus estimate by 0.0%. Revenue was $46.3M against a $43.7M estimate.
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.
- 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
“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.”
Evolv Technologies CEO, on the earnings call
What Was Evolv Technologies's Outlook in Q1 2026?
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
EVLV Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.