Evolv Technologies Announces Resignation of Chief Innovation Officer

Evolv Technologies Holdings ( (EVLV) ) just unveiled an update.

On August 13, 2025, Evolv Technologies announced that its Chief Innovation Officer, Michael Ellenbogen, will resign from his position effective September 5, 2025, due to new time commitments, although he will remain on the Board of Directors. The company reported strong financial results for the second quarter of 2025, with a 29% increase in revenue year-over-year, reaching $32.5 million. Despite a net loss of $40.5 million, Evolv achieved an adjusted EBITDA of $2.0 million, signaling improved operational efficiency. The company has raised its revenue growth outlook for 2025 to 27%-30%, reflecting confidence in its market positioning and future profitability.

The most recent analyst rating on (EVLV) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Evolv Technologies Holdings stock, see the EVLV Stock Forecast page.

Spark’s Take on EVLV Stock

According to Spark, TipRanks’ AI Analyst, EVLV is a Neutral.

The overall stock score reflects a balance between strong technical momentum and significant financial challenges. The appointment of a new CFO is a strategic positive, but profitability issues and negative cash flows remain major concerns. Technical strength provides short-term optimism, but long-term sustainability depends on resolving financial weaknesses.

To see Spark’s full report on EVLV stock, click here.

More about Evolv Technologies Holdings

Evolv Technologies Holdings, Inc (NASDAQ: EVLV) is a leading security technology company that leverages artificial intelligence to provide advanced screening and analytics solutions. The company aims to enhance safety and efficiency in various environments, including iconic venues, schools, hospitals, and public spaces.

Average Trading Volume: 3,344,781

Technical Sentiment Signal: Buy

Current Market Cap: $1.23B

Find detailed analytics on EVLV stock on TipRanks’ Stock Analysis page.