Evolv Technologies (NASDAQ:EVLV) Releases Quarterly Earnings Results, Hits Estimates

Evolv Technologies (NASDAQ:EVLV) announced its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02), FiscalAI reports. The business had revenue of $47.35 million during 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 Trading Down 6.7%

Shares of NASDAQ:EVLV traded down $0.32 during midday trading on Tuesday, reaching $4.44. The company had a trading volume of 3,438,447 shares, compared to its average volume of 2,558,914. The company has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $5.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.18. The firm has a market cap 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.

Key Headlines Impacting Evolv Technologies

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 Activity at Evolv Technologies

In other news, Director Richard Shapiro bought 19,100 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director directly owned 39,000 shares in the company, valued at approximately $193,440. The trade was a 95.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

About Evolv Technologies

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.