Evolv Technologies Holdings, Inc. ( (EVLV) ) has released its Q4 earnings. Here is a breakdown of the information Evolv Technologies Holdings, Inc. presented to its investors.
Evolv Technologies Holdings, Inc. is a security technology company specializing in AI-powered screening and analytics solutions aimed at enhancing safety in public spaces, schools, and iconic venues. The company has recently reported its financial results for the fourth quarter and full year of 2024, marking a significant milestone by achieving positive adjusted EBITDA in Q4 2024 and regaining compliance with SEC reporting and NASDAQ listing requirements. Evolv Technologies reported a 41% increase in revenue for Q4 2024, reaching $29.1 million, and an annual recurring revenue (ARR) of $99.4 million, up 39% year-over-year. The company also achieved an adjusted EBITDA of $0.4 million for the fourth quarter, reflecting improved operational efficiency. Despite a net loss of $54 million for the full year, this represents a significant improvement from the previous year’s loss of $108 million. Looking forward, Evolv Technologies is focused on disciplined execution and transparent communication as it aims to lead the transformation of the security technology landscape, positioning itself for future growth.