Evolv Technologies Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Evolv Technologies Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
4.79
23.4
52.7
79.6
104
146
Cost of revenue
3.5
19.4
51.3
47.7
44.4
70.6
Gross profit
1.29
4.03
1.4
31.9
59.5
75.3
Research and development
15.7
11.5
18.5
24.5
23.4
20.6
Selling and marketing
7.37
26.1
46.7
55
60.6
45.6
General and administrative
5.11
19.9
38
42.2
56.6
54.9
Operating expenses
28.2
59.3
104
122
142
124
Operating income
-26.9
-55.3
-103
-90.1
-82.3
-48.5
Interest expense
0.43
6.07
0.71
0.65
0
1.73
Interest income
0.08
0
3.17
6.23
2.94
1.54
Other non-operating income
-0.5
44.4
16.2
-17.9
28.3
15.4
Pre-tax income
-27.4
-10.9
-86.8
-108
-54
-33.1
Income tax
0
0
0
0.05
0
0.06
Net income
-27.4
-10.9
-86.8
-108
-54
-33.1
EBITDA
-25.8
-52.4
-97.5
-80.4
-64.9
-24.1
EPS, basic
-3.07
-0.15
-0.60
-0.72
-0.34
-0.20
EPS, diluted
-3.07
-0.15
-0.60
-0.72
-0.34
-0.20
Shares, basic (weighted)
8.93
71.7
144
149
157
168
Shares, diluted (weighted)
8.93
71.7
144
149
157
168
Balance sheet
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
4.7
307
230
67.2
37
49.2
Short-term investments
0
51.3
14.9
19.9
Receivables
1.4
6.48
26.4
21.5
28.4
30.8
Inventory
1.59
2.89
12.4
10.3
17
9.32
Other current assets
0.07
0.24
1.11
1.34
2.09
4.32
Total current assets
9.79
331
289
173
121
151
Property, plant and equipment
10.1
23.8
44.7
113
124
128
Lease right-of-use assets
0
1.67
1.2
14
12.3
Other non-current assets
0.54
1.84
1.2
0.74
5.4
Total assets
21.8
363
344
297
268
304
Accounts payable
4.44
6.05
18.2
17.4
10.5
9.77
Deferred revenue
3.76
6.6
18
46.8
64.5
74.9
Short-term debt
2
10
0
0
0
Total current liabilities
12.6
24.3
58.9
81.3
96.7
123
Long-term debt
16.4
7.95
19.7
0
0
28.6
Lease liabilities
0
0.89
0
12.3
10.7
Total liabilities
30.7
72.6
118
153
150
185
Total debt
16.4
9.95
29.7
0
0
28.6
Paid-in capital
10.1
396
419
445
472
507
Retained earnings
-94.9
-106
-193
-301
-355
-388
Other comprehensive income
0
-0.01
-0.05
-0.03
-0.14
Shareholders' equity
-84.8
290
227
144
118
119
Total equity
-84.8
290
227
144
118
119
Total liabilities and equity
21.8
363
344
297
268
304
Shares outstanding
9.85
143
145
151
160
175
Cash flow statement
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-27.4
-10.9
-86.8
-108
-54
-33.1
Depreciation and amortization
1.07
2.9
5.44
9.7
17.4
24.3
Stock-based compensation
0.66
9.6
22.5
24.1
24.8
21.1
Deferred income tax
0
0
0
0
Change in receivables
-0.46
-5.06
-20.1
4.51
-7
-2.32
Change in inventory
-1.47
-3.44
-10.6
0.96
-7.85
9.12
Change in payables
1.92
0.77
7.66
-5.96
0.19
3.78
Cash from operations
-23.3
-56.8
-74.7
-9.8
-30.9
18.7
Capital expenditures
-6.61
-3.71
Purchases of investments
0
-89.9
-29.4
-39.4
Sales and maturities of investments
0
39.2
65.3
34.6
Cash from investing
-6.61
-17.6
-23.9
-123
-1.4
-41.8
Debt issued
22.4
31.9
29.7
1.88
0
26.3
Debt repaid
-8.4
-5.42
-10
-31.9
0
Stock issued
0.03
300
0
0.67
1.81
9.09
Cash from financing
17.2
378
20.5
-29.7
1.81
35.4
Exchange rate effect
0
-0.01
-0.04
0.02
-0.11
Net change in cash
-12.6
303
-78.1
-163
-30.4
12.1
Free cash flow
-29.9
-60.5
Interest paid
0.41
0.85
0.58
0.71
0
1.25
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.79 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
49.9%
Gross profit / revenue.
Operating margin
-20.8%
Operating income / revenue.
EBITDA margin
-5.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-3.1%
Pre-tax income / revenue.
Net margin
-3.0%
Net income / revenue.
Operating cash flow margin
16.2%
Cash from operations / revenue.
Return on equity (ROE)
-4.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-1.7%
Net income / average total assets.
Return on invested capital (ROIC)
-29.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
13.2%
Research and development expense / revenue.
Stock-based pay / revenue
13.5%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
15.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
40.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
40.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
98.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
26.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
277.5%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
125.6%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
1.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-19.2%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
13.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-4.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
69.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
7.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
5.4%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
79.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.18x
Current assets / current liabilities.
Quick ratio
0.81x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.49x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.24x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
9.5%
Total debt / total assets.
Liabilities / assets
60.6%
Total liabilities / total assets.
Net debt
-$33.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.03
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.95
Revenue / diluted weighted shares.
Operating cash flow per share
$0.15
Cash from operations / diluted weighted shares.
Book value per share
$0.66
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
5.06x
Market cap / revenue.
P/B
7.30x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
7.30x
Market cap / tangible book value, when positive.
P/OCF
31.2x
Market cap / cash from operations, when positive.
EV/Sales
4.86x
Enterprise value / revenue.
Earnings yield
-0.6%
Net income / market cap (the inverse of P/E).
What was Evolv Technologies Holdings, Inc.'s revenue in fiscal 2025?
Evolv Technologies Holdings, Inc. reported revenue of $145.9M for fiscal 2025, 40.5% higher than the year before.
Was Evolv Technologies Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $33.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.