Evolv Technologies
Provides AI-assisted screening and analytics for high-traffic entrances.
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Profile
Sells AI-assisted screening systems for people, bags, and venue operations, centered on Express and newer layers such as eXpedite, Insights, and Visual Gun Detection. Revenue is subscription-led, and operations are shaped by single-segment reporting, venue deployment expansion, a recent restatement, and an FTC marketing-claims settlement.
Builds AI-assisted physical-security screening for high-traffic entrances, centered on Evolv Express for people screening. eXpedite adds bag screening, while Insights and Visual Gun Detection add operational analytics and camera-based detection layers around the entrance workflow.
Sells through a subscription-led model with service, product, and license revenue around deployments across venues, schools, hospitals, enterprises, and public spaces. The customer base is described as global, while public filings do not break revenue down by geography or product line.
Execution depends on expanding deployments and recurring subscription demand within a single reportable segment. The business also carries public-company remediation work after a revenue restatement and an FTC settlement over prior marketing claims.
Company facts
Categories
Key statistics
Year to date −21.6% · Average volume (30d) 1.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Craig-Hallum | Reiterate | Buy | $11.25 | ||
| May 13, 2026 | Northland Securities | Target | $10 | |||
| Nov 14, 2025 | Lake Street | Reiterate | Buy | $2.75 | $10 | |
| Aug 15, 2025 | Lake Street | Upgrade | Hold | Buy | ||
| May 21, 2025 | Northland Capital Markets | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.03 | −$0.05 | −66.7% | $41.8M | $43.8M | +4.7% | −5.14% |
| May 12, 2026Q1 FY26 | −$0.06 | −$0.03 | +50.0% | $44.2M | $46.3M | +4.8% | −13.51% |
| Mar 10, 2026Q4 FY25 | −$0.08 | $0.06 | +175.0% | $36.5M | $38.5M | +5.6% | +9.52% |
| Nov 13, 2025Q3 FY25 | −$0.07 | −$0.01 | +85.7% | $36.4M | $42.9M | +17.6% | −8.81% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $32.0M | $32.5M | $42.9M | $38.5M | $46.3M | $43.8M | |
| Gross profit | $19.2M | $16.2M | $21.3M | $18.6M | $23.8M | $22.0M | |
| Operating income | −$14.4M | −$17.5M | −$6.3M | −$8.0M | −$7.1M | −$10.6M | |
| Net income | −$1.7M | −$40.5M | −$1.8M | $10.9M | −$5.0M | −$9.3M | |
| Diluted EPS | −$0.01 | −$0.25 | −$0.01 | $0.06 | −$0.03 | −$0.05 | |
| Gross margin | 59.8% | 49.8% | 49.7% | 48.4% | 51.4% | 50.2% | |
| Operating margin | -45.0% | -53.8% | -14.7% | -20.7% | -15.3% | -24.1% |
Fiscal years (4-quarter sums)FY21 $23.9M · FY22 $55.2M · FY23 $80.4M · FY24 $104.2M · FY25 $145.9M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $62.6M · Total debt $41.6M · Total assets $302.0M · Shareholders' equity $118.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 179.87M · Float 170.57M · 94.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Gates Frontier, LLC · 10 percent owner | 17.19M | 9.56% | Form 4 | Sep 12, 2025 |
| BlackRock, Inc. | 11.54M | 6.41% | 13F | May 13, 2026 |
| Vanguard Capital Management LLC | 7.08M | 3.94% | 13F | May 15, 2026 |
| Two Sigma Investments, LP | 5.97M | 3.32% | 13F | May 15, 2026 |
| Vanguard Portfolio Management LLC | 5.80M | 3.22% | 13F | May 8, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Michael Ellenbogen | director | −80,752 | $5.59 |
| Aug 14, 2026 | Henrik Kuhl | director | +15,000 | $5.73 |
| Aug 14, 2026 | Neil Glat | director | +8,500 | $5.74 |
| Jul 15, 2026 | Michael Ellenbogen | director | −80,745 | $5.94 |
| Jun 15, 2026 | Michael Ellenbogen | director | −80,745 | $6.21 |
Peers
- OSI Systems
Rapiscan checkpoint and bag-screening hardware rival
- Liberty Defense
HEXWAVE peer in AI-assisted walkthrough weapons detection
- Leidos
Aviation screening and AI body-scanner competitor
- Motorola Solutions
Physical-security platform rival in video, access, and operations
- Johnson Controls
Commercial security platform rival for access, video, and response
- Allegion
Door and access-control rival in institutional security
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Evolv Technologies | $5.25 | +0.00% | $942.5M | — | — | 5.5 | +34.4% |
| OSI Systems | $206.64 | −0.01% | $3.41B | 23.1 | 18.4 | 1.9 | −4.1% |
| Liberty Defense | $3.45 | +0.73% | $7.0M | — | — | 3.7 | — |
| Leidos | $141.00 | +0.31% | $17.69B | 13.1 | 11.6 | 1.0 | +7.2% |
| Motorola Solutions | $461.92 | −4.94% | $80.67B | 38.3 | 26.8 | 6.6 | +13.3% |
| Johnson Controls | $139.59 | +0.01% | $84.56B | 24.3 | 24.2 | 3.4 | +9.3% |
| Allegion | $158.87 | +0.86% | $13.39B | 20.7 | 16.8 | 3.1 | +12.7% |
| Median | 23.1 | 18.4 | 3.3 | +9.3% |