Evolv Technologies (NASDAQ:EVLV) Posts Earnings Results, Misses Estimates By $0.03 EPS

Evolv Technologies (NASDAQ:EVLV) announced its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03), Zacks reports. Evolv Technologies had a negative net margin of 3.05% and a negative return on equity of 4.58%. The business had revenue of $43.75 million for the quarter, compared to the consensus estimate of $41.81 million.

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

• Evolv reported Q2 revenue of $43.8 million, up 34% year over year, while adjusted EBITDA margin expanded to 10.1% from 6.5% and first-half adjusted EBITDA doubled year over year.
• Customer momentum remained strong, with 70 new customers added—the best quarter in two years—while roughly 60% of unit bookings came from existing customers, net revenue retention stayed above 100%, and RPO increased 4.5% sequentially to $312.6 million.
• Adoption of the broader platform is expanding, with more than 100 Evolv eXpedite customers, growing Gen2 upgrades, and new wins across education, healthcare, sports, entertainment, and Fortune 500 workplaces. The company also began shipping through new manufacturing partner Plexus, which it expects to improve capacity, resiliency, and costs over time.
• Evolv raised its 2026 outlook, forecasting revenue of $180 million-$185 million, ARR of $148 million-$150 million, more than 10,000 deployed units, and adjusted EBITDA of $15 million-$16 million.
• Management expects future year-over-year revenue comparisons to be less favorable as the temporary benefit from its 2025 fulfillment-model change rolls off. The 2026 gross-margin outlook also faces pressure from a higher mix of purchase subscriptions, Gen1 upgrade-related costs, and higher component and supply-chain expenses, while a potential $2 million-$4 million inventory investment remains possible.

Evolv Technologies Stock Down 0.3%

Shares of NASDAQ EVLV traded down $0.01 during mid-day trading on Thursday, reaching $5.71. 942,930 shares of the company’s stock traded hands, compared to its average volume of 2,739,826. The stock has a market cap of $1.03 billion, a P/E ratio of -190.83 and a beta of 1.80. The business has a 50-day simple moving average of $5.81 and a 200 day simple moving average of $5.92. Evolv Technologies has a 1-year low of $4.86 and a 1-year high of $8.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.21 and a quick ratio of 1.14.

Hedge Funds Weigh In On Evolv Technologies

Several large investors have recently added to or reduced their stakes in the business. CW Advisors LLC boosted its position in Evolv Technologies by 19.0% in the second quarter. CW Advisors LLC now owns 12,614 shares of the company’s stock worth $79,000 after purchasing an additional 2,014 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Evolv Technologies by 16.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,601 shares of the company’s stock worth $118,000 after purchasing an additional 2,206 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Evolv Technologies by 13.2% in the 4th quarter. Advisory Services Network LLC now owns 22,694 shares of the company’s stock worth $162,000 after buying an additional 2,651 shares during the last quarter. BNP Paribas Financial Markets grew its position in Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company’s stock valued at $81,000 after buying an additional 3,596 shares during the period. Finally, IFC & Insurance Marketing Inc. purchased a new stake in Evolv Technologies during the fourth quarter worth about $28,000. Institutional investors own 66.65% of the company’s stock.

Analyst Upgrades and Downgrades

EVLV has been the topic of several recent analyst reports. Zacks Research lowered Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. TD Cowen reiterated a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Finally, Craig Hallum reissued a “buy” rating and set a $11.25 target price on shares of Evolv Technologies in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.06.

Evolv Technologies Company Profile

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.