undamentalytics Newsletter
Sign in

Evolv Technologies Holdings, Inc. (EVLV) stock

Add to watchlist

Add holding +

NASDAQ: EVLV Nasdaq Electronic Equipment & Instruments Next results ~November 10, 2026

C Fundamentals grade

Evolv Technologies Holdings, Inc. is a US-listed company in the electronic equipment & instruments industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$3.0

Valuation models combined (2)

Base case. Range ~$2.5–$3.2. Weighted average of 2 models (forward price-to-sales vs peers, revenue-to-maturity model).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Evolv Technologies Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders6 buying, 5 selling12 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds133 adding, 106 cuttingOf 37 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Evolv Technologies Holdings files

Where Evolv Technologies stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $171m, up 41.7% on a year earlier, faster than the 40.9% growth a quarter earlier. That growth ranks 3 of 22 among the electronic equipment & instruments companies we cover. Free-cash-flow margin rose to -2.5% from -17.4% a year earlier. Operating margin widened to -20.8% from -57.8%. The diluted share count is up 12.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $3.21 a share, against a share price of $4.83.

Source: 10-Q filed August 11, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Evolv Technologies Holdings, Inc.'s trailing-twelve-month revenue grew 41.7% year on year, with a free-cash-flow margin of -2.5%. Where it lags: stock pay as % of revenue of 13.5% ranks 40 of 49 electronic equipment & instruments companies we cover.

Current signal Operating margin expanding: TTM operating margin reached -20.8%, up 37.0pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 41.7% over the last 12 months, against a median of 9.8% for electronic equipment & instruments companies we cover.
  • Margins widening. Operating margin is up 37.0 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -20.8%: costs exceed revenue.
  • Burning cash. Free cash flow was -2.5% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 12.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 1.3 against the S&P 500.
  • Gross margin slipping. Gross margin is down 6.3 points on a year ago.

Latest results: FY2026 Q2

Filed August 11, 2026
Earnings per share
-$0.02 against an average estimate of -$0.02: beat by 0.0%
Revenue
$44m, up 34.4% on a year earlier
Share reaction
-2.4% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Guidance given
total revenues $180m to $185m (2026); ending ARR at December 31, 2026 $148m to $150m (2026)
Next report
November 10, 2026; average EPS estimate -$0.02

Evolv Technologies Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.7%
  • 1 week+4.3%
  • 1 month+0.9%
  • This year-35.6%
  • 1 year-40.4%
  • 5 years-25.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$171M
Operating margin
-20.8%
Net margin
-3.0%
EPS (TTM, diluted)
$-0.03

Growth

Revenue growth
+41.7%
Change in growth rate
+0.7 pts
Share count change
+12.3%

Cash

Free cash flow (TTM)
-$4.2M
FCF margin
-2.5%
Stock pay % of revenue
13.5%

Earnings

Last results
August 11, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Evolv Technologies Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Evolv Technologies Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.54 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.7 ~$0.4–$0.9 Left out: out of range vs price (0.15x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.5 ~$2.0–$6.0 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$3.2 ~$2.6–$3.9 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.0 ~$2.5–$3.2 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Evolv Technologies Holdings, Inc. with Electronic Equipment & Instruments in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$10.01$4.46$2.59$4.72$3.95$7.16$4.61
Market value$1.4bn$639m$373m$704m$618m$1.2bn$812m
+ Net debt (− = net cash)$12m−$298m−$200m−$67m−$37m−$19m−$23m
Enterprise value$1.4bn$342m$173m$637m$581m$1.2bn$790m
Multiples
Price / sales n/m27.3x7.1x8.8x6.0x8.3x4.7x
Price / earnings ———————
Price / free cash flow —————64.6x29.2x
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

13 /100

Weak moat

How hard Evolv Technologies Holdings's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -16.4% of total assets over 5 years.

  • Pricing power 4 / 20

    Gross margin has been a median 34.2%, moving by 19.1 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -115.3%; its worst year was -273.2%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -54.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (18 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $46m and EPS of −$0.02 (range −$0.03 to −$0.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.08 +23% $182m +25%
Next −$0.04 +52% $219m +20%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +21.1% on 90 days ago. In the last 30 days, 0 analysts raised Evolv Technologies Holdings, Inc.'s forecast and 3 cut it.

Consensus EPS forecast Evolv Technologies Holdings, Inc., last 90 days
−$0.08 −$0.06 −$0.04 −$0.02 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.06 Current fiscal year, 60 days ago: −$0.08 Current fiscal year, 30 days ago: −$0.08 Current fiscal year, 7 days ago: −$0.08 Current fiscal year, Now: −$0.08 −$0.08 Next fiscal year, 90 days ago: −$0.03 Next fiscal year, 60 days ago: −$0.04 Next fiscal year, 30 days ago: −$0.04 Next fiscal year, 7 days ago: −$0.04 Next fiscal year, Now: −$0.04 −$0.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.06−$0.03
60 days ago −$0.08−$0.04
30 days ago −$0.08−$0.04
7 days ago −$0.08−$0.04
Now −$0.08−$0.04

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.02 −$0.02 0.0%
Dec 2025 −$0.02 −$0.03 −28.6%
Sept 2025 −$0.03 −$0.02 +40.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026
  • Total revenues 2026 $180m to $185m Raised
    “The Company expects total revenues in 2026 to be between $180 to $185 million, reflecting growth of approximately 23% to 27% year-over-year.” source
  • Ending ARR at December 31, 2026 $148m to $150m Raised
    “The Company expects ending ARR at December 31, 2026 to increase to approximately $148 to $150 million, reflecting growth of approximately 23% to 25% year-over-year.” source
  • Adjusted EBITDA 2026 $15m to $16m Non-GAAP New
    “The Company expects Adjusted EBITDA 2 in 2026 to be between $15 to $16 million with Adjusted EBITDA 2 margins in the high single digits.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

5 analysts, Oct 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202655
  2. Sep 202655
  3. Aug 202644
  4. Jul 202644

Counts of recommendations published by analysts covering Evolv Technologies Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.9%
of tradable shares
Days to cover
4.49
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
71%
of shares
Held by insiders
4.2%
of shares
Employees
286
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −40.4%

$7.74 on October 31, 2025 to $4.61

ThenNowEffect
Revenue (last 12 months) $121m $171m +41.7%
P/S multiple 10.0x 4.7x −52.8%
Share count 157m 176m −10.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +2.0%

$4.52 on November 3, 2023 to $4.61

ThenNowEffect
Revenue (last 12 months) $76m $171m +125.0%
P/S multiple 8.7x 4.7x −45.3%
Share count 146m 176m −17.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EVLV−55%−42%+82%−16%+81%−36%
Industry peers (median)0%−37%+13%+2%−7%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EVLV25%42%67%42%67%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EVLV−59%−65%−57%−62%−35%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 22, 2020: 85% from January 26, 2021 to March 16, 2022. Getting back needed a 545% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.05 – $7.60
From 52-week high
−39.3%
vs 50-day average
−3.4%
vs 200-day average
−18.3%
Volatility (1 year)
50%
Beta vs S&P 500
1.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±12.3%
After a week
5 up, 7 down
typical move ±13.0%
After a month
8 up, 4 down
typical move ±15.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −2.4% −0.1% −7.2% −15.2%
May 12, 2026 −13.0% +0.4% −17.5% −11.3%
March 10, 2026 +10.6% −0.3% +2.1% +17.3%
November 13, 2025 −10.7% −1.7% −15.8% +0.6%
August 14, 2025 +3.5% −0.2% +4.5% +12.6%
May 20, 2025 +3.7% −2.0% −3.0% −0.2%
April 28, 2025 +5.4% +0.7% +5.7% +43.2%
January 23, 2025 +29.2% +0.3% +24.2% +9.3%
August 8, 2024 −1.7% +2.8% +22.9% +27.3%
May 9, 2024 −38.9% +0.7% −29.0% −35.2%
February 29, 2024 −13.7% +1.3% −18.9% +11.1%
November 9, 2023 −14.3% +0.8% −5.7% +0.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Evolv Technologies Holdings, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Evolv Technologies Holdings, Inc.
$50M $100M $150M $200M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $79.9M Revenue (TTM), FY23 Q4: $79.6M Revenue (TTM), FY24 Q1: $81.6M Revenue (TTM), FY24 Q2: $87.9M Revenue (TTM), FY24 Q3: $95.3M Revenue (TTM), FY24 Q4: $103.9M Revenue (TTM), FY25 Q1: $113.7M Revenue (TTM), FY25 Q2: $121M Revenue (TTM), FY25 Q3: $136.5M Revenue (TTM), FY25 Q4: $145.9M Revenue (TTM), FY26 Q1: $160.2M Revenue (TTM), FY26 Q2: $171.4M $171.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $79.9M
FY23 Q4 $79.6M
FY24 Q1 $81.6M
FY24 Q2 $87.9M
FY24 Q3 $95.3M
FY24 Q4 $103.9M
FY25 Q1 $113.7M
FY25 Q2 $121M
FY25 Q3 $136.5M
FY25 Q4 $145.9M
FY26 Q1 $160.2M
FY26 Q2 $171.4M
Revenue growth, TTM YoY Evolv Technologies Holdings, Inc.
0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 97.1% Revenue growth, TTM YoY, FY23 Q4: 45.2% Revenue growth, TTM YoY, FY24 Q1: 23.3% Revenue growth, TTM YoY, FY24 Q2: 15.4% Revenue growth, TTM YoY, FY24 Q3: 19.4% Revenue growth, TTM YoY, FY24 Q4: 30.5% Revenue growth, TTM YoY, FY25 Q1: 39.3% Revenue growth, TTM YoY, FY25 Q2: 37.6% Revenue growth, TTM YoY, FY25 Q3: 43.2% Revenue growth, TTM YoY, FY25 Q4: 40.5% Revenue growth, TTM YoY, FY26 Q1: 40.9% Revenue growth, TTM YoY, FY26 Q2: 41.7% 41.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 97.1%
FY23 Q4 45.2%
FY24 Q1 23.3%
FY24 Q2 15.4%
FY24 Q3 19.4%
FY24 Q4 30.5%
FY25 Q1 39.3%
FY25 Q2 37.6%
FY25 Q3 43.2%
FY25 Q4 40.5%
FY26 Q1 40.9%
FY26 Q2 41.7%
Operating margin (TTM) Evolv Technologies Holdings, Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -118.3% Operating margin (TTM), FY23 Q4: -113.2% Operating margin (TTM), FY24 Q1: -109.5% Operating margin (TTM), FY24 Q2: -99.7% Operating margin (TTM), FY24 Q3: -89.8% Operating margin (TTM), FY24 Q4: -79.2% Operating margin (TTM), FY25 Q1: -65.8% Operating margin (TTM), FY25 Q2: -57.8% Operating margin (TTM), FY25 Q3: -43.5% Operating margin (TTM), FY25 Q4: -33.2% Operating margin (TTM), FY26 Q1: -26.6% Operating margin (TTM), FY26 Q2: -20.8% -20.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -118.3%
FY23 Q4 -113.2%
FY24 Q1 -109.5%
FY24 Q2 -99.7%
FY24 Q3 -89.8%
FY24 Q4 -79.2%
FY25 Q1 -65.8%
FY25 Q2 -57.8%
FY25 Q3 -43.5%
FY25 Q4 -33.2%
FY26 Q1 -26.6%
FY26 Q2 -20.8%
FCF margin (TTM) Evolv Technologies Holdings, Inc.
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -29.2% FCF margin (TTM), FY23 Q4: -29.1% FCF margin (TTM), FY24 Q1: -47.0% FCF margin (TTM), FY24 Q2: -64.7% FCF margin (TTM), FY24 Q3: -61.2% FCF margin (TTM), FY24 Q4: -52.4% FCF margin (TTM), FY25 Q1: -37.7% FCF margin (TTM), FY25 Q2: -17.4% FCF margin (TTM), FY25 Q3: -16.6% FCF margin (TTM), FY25 Q4: -7.7% FCF margin (TTM), FY26 Q1: -8.0% FCF margin (TTM), FY26 Q2: -2.5% -2.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -29.2%
FY23 Q4 -29.1%
FY24 Q1 -47.0%
FY24 Q2 -64.7%
FY24 Q3 -61.2%
FY24 Q4 -52.4%
FY25 Q1 -37.7%
FY25 Q2 -17.4%
FY25 Q3 -16.6%
FY25 Q4 -7.7%
FY26 Q1 -8.0%
FY26 Q2 -2.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 5 23 53 80 104 146 171
Gross profit 1 4 1 32 59 75 85
EBITDA −27 −52 −98 −80 −65 −24 −9
Operating income −28 −55 −103 −90 −82 −48 −36
Net income −28 −11 −87 −108 −54 −33 −5
Diluted EPS −$0.20 −$0.07 −$0.60 −$0.72 −$0.34 −$0.20 −$0.03
Growth (year on year)
Revenue — +334.7% +125.4% +50.9% +30.5% +40.5% +41.7%
Margins
Gross margin 24.6% 17.2% 2.7% 40.1% 57.2% 51.6% 49.9%
EBITDA margin −501.4% −223.9% −185.0% −101.0% −62.5% −16.5% −5.1%
Operating margin −521.2% −236.3% −195.3% −113.2% −79.2% −33.2% −20.8%
Net margin −528.3% −46.5% −164.6% −135.8% −52.0% −22.7% −3.0%
Free-cash-flow margin −555.0% −313.5% −141.8% −12.3% −29.7% 12.8% 16.2%
Cash flow
Cash from operations −24 −57 −75 −10 −31 19 28
Capital spending 6 17 0 0 0 0 0
Free cash flow −30 −73 −75 −10 −31 19 28
Stock-based pay 2 10 23 24 25 21 23
Free cash flow after stock pay −31 −83 −97 −34 −56 −2 5
Balance sheet
Cash 5 307 230 67 37 49 53
Total debt 16 10 30 0 0 30 30
Net debt (negative = net cash) 12 −298 −200 −67 −37 −19 −23
Diluted shares 143m 143m 144m 149m 157m 168m 176m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $302m
Short-term assets $149mLonger-term assets $153m
What it owes, and who funded it · $302m
Short-term liabilities $127mLonger-term liabilities $56mShareholders' equity $119m
  • Short-term assets cover short-term liabilities $149m of assets due within a year against $127m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $149m short-term assets against $56m of longer-dated liabilities.
  • More cash than debt $53m of cash against $29m of debt.
  • Debt below 40% of shareholders' equity Debt is 24% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 3% to 24% over five years.
  • A year's operating cash flow covers at least 20% of debt $28m of operating cash flow against $29m of debt.
  • Operating profit covers interest at least five times over Operating income of −$36m against $4m of interest.

From Evolv Technologies Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+12.3%
year over year
R&D spending
13.2%
of revenue
Days sales outstanding
84 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic equipment & instruments
Last 12 months unless stated EVLV YIBO NSSC OUST KRNT INTT Median
Revenue, last 12 months $171m $155m $203m $205m $208m $128m $104m
Revenue growth, last 12 months 41.7% 3.6% 8.7% 62.8% 2.1% 5.4% 9.8%
Revenue growth, 3-year average 31.0% — 5.7% 51.6% 61.5% 0.2% 7.2%
Revenue growth, latest quarter 34.4% — 1.7% 55.9% — 25.5% 16.5%
Gross margin 49.9% 29.4% 59.7% 49.6% 44.3% 42.8% 38.5%
Operating margin −20.8% −7.3% 22.7% −30.6% −16.6% 0.5% −7.3%
Operating margin, 3-year average −59.4% — 25.6% −79.2% −4.8% 1.0% −5.1%
Net margin −3.0% −5.3% 21.6% −26.0% −6.5% 0.8% −5.3%
Cash from operations / revenue 16.2% −1.6% 25.7% −26.3% 11.8% 4.3% −1.6%
Free-cash-flow margin −2.5% −2.1% 24.7% −40.2% 1.6% 2.7% −2.5%
Free-cash-flow margin, 3-year average −28.2% — 25.1% −44.9% 4.7% 5.5% 3.7%
Stock pay / revenue 13.5% 5.6% 0.5% 18.5% 10.5% 1.5% 3.0%
Change in share count 12.3% 7.7% −0.8% 20.0% −4.7% 1.2% 1.9%

Median of all 53 companies we cover in electronic equipment & instruments. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

53 electronic equipment & instruments companies
Measure Company Peer median Rank
Revenue growth Growth 41.7% 9.8% 14 of 53
Change in growth rate Growth +0.7pp +2.3pp 33 of 53
Gross margin Profitability 49.9% 39.7% 11 of 48
Operating margin Profitability -20.8% -7.3% 35 of 53
Net margin Profitability -3.0% -5.3% 24 of 53
Free-cash-flow margin Cash generation -2.5% -2.1% 27 of 52
Stock pay as % of revenue Cash generation 13.5% 3.0% 40 of 49
Long-term debt as % of assets Balance sheet 9.5% 15.2% 12 of 31
Change in share count Balance sheet 12.3% 1.9% 33 of 46
Days sales outstanding Balance sheet 84 days 68 days 37 of 52

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Subscriptions $83.8M ▲ 28.9%
Services $29.4M ▲ 25.2%
Saa S Maintenance and Other $29.4M ▲ 25.2%
Products $21.6M ▲ 234.7%
License Fee and Other Revenue $11.1M ▲ 24.4%
License Fee $8.1M ▲ 12.4%
Professional Services and Other Revenue $3M ▲ 74.5%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $141M 96.4% ▲ 40.7%
Outside the US $5.3M 3.6% ▲ 35.7%

From Evolv Technologies Holdings, Inc.'s 10-K filed March 10, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$703M
Institutions reporting
259
Shares held vs prior quarter
▲ 1.6%
Positions opened / closed
41 / 40

Top buyers and sellers, Q2 2026: 133 institutions bought and 106 sold ; the biggest buyer was D. E. Shaw & Co., Inc (+3.2M shares) and the biggest seller Alyeska Investment Group, L.P (−3.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $78.5M 13.5M 11.2% ▲ 17.3%
Vanguard Capital Management LLC $42.2M 7.3M 6.0% ▲ 2.8%
Stoic Point Capital Management LLC $37.6M 6.5M 5.3% ▲ 12.4%
Vanguard Portfolio Management LLC $34.8M 6.0M 5.0% ▲ 3.5%
D. E. Shaw & Co., Inc. $28.1M 4.8M 4.0% ▲ 187.0%
Data Collective Iv Gp, LLC $26.6M 4.6M 3.8% 0.0%
Two Sigma Investments, LP $26.1M 4.5M 3.7% ▼ 24.6%
Emerald Advisers, LLC $24.5M 4.2M 3.5% ▼ 2.4%
Geode Capital Management, LLC $23.2M 4.0M 3.3% ▲ 9.9%
State Street Corp $22M 3.8M 3.1% ▲ 9.3%
Needham Investment Management LLC $17.8M 3.1M 2.5% ▲ 146.0%
Scs Capital Management LLC $17M 2.9M 2.4% ▼ 0.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Evolv Technologies Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $749,505 12 trades by 6 insiders, last 12 months Insider sales History → $6.9M 15 trades by 5 insiders · 70% under pre-set plans
Net ▼ $6.2M net selling
Insider Date Trade Shares Price Value
Shapiro Richard A Director September 4, 2026 Buy 13,500 $4.96 $66,960
Shapiro Richard A Director September 4, 2026 Buy 9,000 $4.98 $44,820
Shapiro Richard A Director September 4, 2026 Buy 6,500 $4.95 $32,175
Shapiro Richard A Director September 4, 2026 Buy 3,600 $4.94 $17,784
Ellenbogen Michael Director August 17, 2026 Sell pre-set plan 80,752 $5.59 $451,404
Kuhl Henrik Director August 14, 2026 Buy 15,000 $5.73 $85,950
Glat Neil Director August 14, 2026 Buy 8,500 $5.74 $48,790
Ellenbogen Michael Director July 15, 2026 Sell pre-set plan 80,745 $5.94 $479,625
Ellenbogen Michael Director June 15, 2026 Sell pre-set plan 80,745 $6.21 $501,426
Marshall Robert E Chief Revenue Officer June 2, 2026 Sell 62,067 $6.85 $425,159
Ellenbogen Michael Director May 15, 2026 Sell pre-set plan 80,745 $5.63 $454,594
Kutsor George C Chief Financial Officer May 4, 2026 Sell 51,448 $7.27 $374,027

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 12, 2026
  • March 10, 2026
  • November 13, 2025
  • August 14, 2025
  • May 20, 2025

Recent SEC filings

Data status

When each part of this page on Evolv Technologies Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Evolv Technologies Holdings, Inc. in brief

What does Evolv Technologies Holdings, Inc. do?
Evolv Technologies Holdings, Inc. is a US-listed company in the electronic equipment & instruments industry. Its financial year ends in December.
What is Evolv Technologies Holdings, Inc.'s stock ticker?
Evolv Technologies Holdings, Inc. trades under the ticker EVLV on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Evolv Technologies Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Evolv Technologies Holdings, Inc. reported revenue of $171M, 41.7% higher than a year earlier, according to its SEC filings.
What is Evolv Technologies Holdings, Inc.'s free cash flow?
Evolv Technologies Holdings, Inc.'s free-cash-flow margin is -2.5% of revenue over the trailing twelve months, ranking 27 of the 52 electronic equipment & instruments companies we cover.
Who are Evolv Technologies Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Stoic Point Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Evolv Technologies Holdings, Inc.'s market cap?
On November 2, 2026, Evolv Technologies Holdings, Inc.'s market capitalisation was about $812M and net debt of -$22.7M. Market figures come from third-party market data and may be delayed.
How much debt does Evolv Technologies Holdings, Inc. have?
Evolv Technologies Holdings, Inc.'s debt-to-equity ratio is 24.2%, from its latest balance sheet (2.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Evolv Technologies Holdings, Inc.'s competitors?
In our Electronic Equipment & Instruments peer group, the companies closest to Evolv Technologies Holdings, Inc. are Planet Image International Ltd, Napco Security Technologies, Inc, Ouster, Inc., Kornit Digital Ltd. and Intest Corp. The side-by-side comparison below sets their revenue, margins and growth against Evolv Technologies Holdings, Inc.'s.
Are insiders buying or selling Evolv Technologies Holdings, Inc. stock?
Over the last 12 months, Evolv Technologies Holdings, Inc.'s directors and officers reported 12 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Evolv Technologies Holdings, Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Evolv Technologies Holdings, Inc. announces its own schedule.