Companies /Industrials

Evolv Technologies Holdings Inc - Class A

NASDAQ: EVLV Security & Protection Services
$5.32
â–² $0.12 (+2.31%) today
Markets closed · 5:15pm ET

Q1 2026 Earnings

Reported May 12, 2026, 4:06pm ET · SEC source
$-0.02
Beat +0.00%
EPS · est. $-0.02
$46.3M
Beat +6.00%
Revenue · est. $43.7M
−13.0%
Trailing market
EVLV vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−24%−16%−8%0May 12May 13report 4:06pm ETearnings+0.8%−16.1%
−24%−16%−8%0May 12May 13earnings+0.8%−16.1%
EVLV −16.1%S&P 500 +0.8%
−24%−16%−8%0May 12May 13report 4:06pm ETearnings+1.6%−16.1%
−24%−16%−8%0May 12May 13earnings+1.6%−16.1%
EVLV −16.1%NASDAQ +1.6%
−24%−16%−8%0May 11May 20report 4:06pm ETearnings+0.3%−17.0%
−24%−16%−8%0May 11May 20earnings+0.3%−17.0%
EVLV −17.0%S&P 500 +0.3%
−24%−16%−8%0May 11May 20report 4:06pm ETearnings+0.6%−17.0%
−24%−16%−8%0May 11May 20earnings+0.6%−17.0%
EVLV −17.0%NASDAQ +0.6%
+0.58%
Day of report
−13.51%
Next session
−17.96%
One week
−12.50%
30 days

S&P 500 over the same 30 days: +0.48%.

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 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

“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

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

Revenue$46.3M
Gross Profit$23.6M
Operating Income$-8,472,000
Net Income$-5,009,000

EVLV Revenue by Segment

Subscription Revenue$23.1M+20.3%
Product Revenue$13.4M+478.0%
Service Revenue$8.6M+27.6%
License Fee and Other Revenue$1.2M−68.5%

Figures from SEC filings and company reports. Not investment advice.