Evolv Technologies (NASDAQ:EVLV) Posts Earnings Results, Meets Estimates

Evolv Technologies (NASDAQ:EVLV) issued its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02), FiscalAI reports. The business had revenue of $47.35 million for the quarter, compared to the consensus estimate of $45.61 million. Evolv Technologies had a negative net margin of 3.05% and a negative return on equity of 4.53%.

Here are the key takeaways from Evolv Technologies’ conference call:

• Positive Sentiment: Third-quarter revenue reached a record $47.3 million, up 10% year over year, while ARR grew 20% to $140.5 million and recurring revenue accounted for approximately 69% of revenue. Net revenue retention was 108%, and RPO rose 12% year over year to $325.8 million.
• Positive Sentiment: Evolv narrowed its 2026 revenue outlook to $182 million–$185 million, representing 25%–27% growth, and reaffirmed expected year-end ARR of $148 million–$150 million. Management expects full-year adjusted EBITDA margin in the high single digits.
• Neutral Sentiment: Management expects 2027 revenue growth of at least 20%, while noting prior pricing changes will create a 3–4 percentage-point headwind as more contract value shifts from upfront product revenue to recurring revenue. It expects growth to build through the year and ARR growth to outpace revenue growth.
• Neutral Sentiment: Adjusted EBITDA was $4.7 million, down from $5.1 million a year earlier, and margin declined to 10% from 12% as Evolv invested in sales, marketing, R&D, and internal systems. The company also reported $3.2 million of free cash flow and said growth investments will be funded through operating gross profit and its balance sheet.
• Positive Sentiment: Evolv cited continued customer demand across education, healthcare, venues, and workplaces, along with growing adoption of its eXpedite bag-screening product. Management is expanding sales capacity and developing product upgrades it believes can improve detection and reduce alerts, though the benefits of new seller investments are expected to build over time.

Evolv Technologies Stock Down 6.7%

NASDAQ:EVLV traded down $0.32 during mid-day trading on Tuesday, reaching $4.44. The stock had a trading volume of 3,438,447 shares, compared to its average volume of 2,558,914. The company has a market capitalization of $804.22 million, a price-to-earnings ratio of -148.00 and a beta of 1.83. Evolv Technologies has a 1-year low of $4.02 and a 1-year high of $7.48. The stock’s 50 day simple moving average is $4.71 and its two-hundred day simple moving average is $5.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EVLV shares. Craig Hallum reaffirmed a “buy” rating and set a $11.25 price target on shares of Evolv Technologies in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH initiated coverage on Evolv Technologies in a research report on Tuesday, September 8th. They issued a “buy” rating and a $8.00 price objective on the stock. Wall Street Zen upgraded Evolv Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolv Technologies in a research report on Tuesday, September 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Evolv Technologies has an average rating of “Moderate Buy” and an average price target of $9.81.

Key Evolv Technologies News

Here are the key news stories impacting Evolv Technologies this week:

• Positive Sentiment: Third-quarter revenue was $47.35 million, ahead of the $45.61 million consensus estimate and up 10.5% year over year. The company also reported higher gross profit and generated $18 million in operating cash flow. Evolv Technologies Reports Q3 Loss, Beats Revenue Estimates
• Positive Sentiment: Evolv expects 2026 revenue of $182 million to $185 million. The range is broadly in line with the $182.4 million FactSet estimate, with the midpoint modestly above it. 2026 Revenue Outlook
• Neutral Sentiment: The company introduced eXpedite 3.0, an update to its AI-powered bag screener featuring guided searches and an integrated view of people and bag screening. The product launch may support its offering, though its near-term financial impact is unclear. Evolv eXpedite 3.0 Announcement
• Negative Sentiment: Profitability remains a concern: a third-party summary said Evolv’s operating loss widened to $14.4 million and its net loss was $15.6 million, despite revenue growth. Investors may focus on whether sales gains can translate into narrower losses. Evolv Q3 Earnings Summary

Insider Buying and Selling at Evolv Technologies

In other news, Director Richard Shapiro purchased 19,100 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average cost of $4.96 per share, with a total value of $94,736.00. Following the transaction, the director owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Evolv Technologies Company Profile

Evolv Technologies develops security screening systems designed to detect weapons and other threats in public spaces. Its products combine sensors and artificial intelligence to screen people without requiring the same stop-and-check process used by traditional metal detectors. The company’s offerings include Evolv Express, a screening system for people entering venues, and Evolv eXpedite, which is designed to screen bags and other belongings. Evolv also provides software and analytics tools to help customers manage screening operations.