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Evolv Technologies Holdings (EVLV) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · Evolv Technologies Holdings (EVLV) Q2 2026 earnings results →
Q2 2026 Revenue up 34% year over year to $43.8M · 21¢ of every $1 of revenue lost · operating margin -24.1%
Evolv Technologies Holdings made $43.8M in Q2 2026 (+34% Y/Y): Subscription revenue $24.8M, Product revenue $9.1M, Service revenue $9.0M. Operating margin -24.1%, net loss $9.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
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What changed this quarter
Revenue was $43.8M in Q2 2026, up 34% year over year and down 6% from the previous quarter. Subscription revenue was the largest line at 57% of revenue. Product revenue added $6.6M year over year (up 260%), 59% of the total change. License fee and other revenue declined 71%.
Gross margin was 50.2%, up 0.3 points from Q2 2025. Operating costs exceeded revenue by $10.6M, an operating margin of -24.1%. Operating expenses fell 4% while revenue rose 34%. The fastest-growing cost line was Research & development (+22%). The quarter ended with a net loss of $9.3M, wider than the previous quarter's $5.0M loss.
Operating cash flow was $11.9M (up 463% year over year). Non-cash charges added back $7.1M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items added $7.2M. Capital expenditures of $8.4M left free cash flow of $3.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $43.8M | +34% | -24.1% | −$9.3M | $11.9M |
| Q1 2026 | 10-Q | May 12, 2026 | $46.3M | +45% | -18.3% | −$5.0M | −$3.2M |
| Q4 2025 | 10-K | Mar 10, 2026 | $38.5M | +32% | -20.7% | $10.9M | $15.6M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $42.9M | +57% | -20.1% | −$1.8M | $3.5M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $32.5M | +29% | -53.8% | −$40.5M | $2.1M |
| Q1 2025 | 10-Q | May 20, 2025 | $32.0M | +44% | -45.0% | −$1.7M | −$2.5M |
| Q4 2024 | 10-K | Apr 28, 2025 | $29.1M | +41% | -64.9% | −$15.7M | $3.2M |
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About Evolv Technologies Holdings
Evolv Technologies Holdings, Inc., a Delaware corporation formed in 2021 (“we,” “us,” “our,” the “Company” and “Evolv”) is a leading security technology company pioneering Artificial Intelligence (“AI”)-powered screening solutions designed to help create safer environments while maintaining efficient visitor flow and a positive visitor experience. We serve customers across a range of end markets, including education, healthcare, sports, live entertainment, tourist attractions, houses of worship, and industrial workplaces. Our mission is to make the world a safer and more enjoyable place to live, work, learn, and play. Our goal is to help facility operators address escalating gun violence, mass shootings and terrorist attacks while maintaining a positive visitor experience.
In its own words, from its 10-K, filed Mar 10, 2026.
Evolv Technologies Holdings against its Computer Peripheral Equipment, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +34% against the peers' median +13%. Operating margin: -24.1% against the peers' median 5.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| EVLV Evolv Technologies Holdings | Q2 2026 | $43.8M | +34% | -24.1% |
| PANW Palo Alto Networks | Q4 FY26 | $3.4B | +34% | 5.0% |
| FTNT Fortinet | Q3 2026 | $2.1B | +20% | 33.9% |
| XRX Xerox Holdings | Q3 2026 | $1.9B | -5% | -53.9% |
| LOGI Logitech International S.A. | Q2 FY27 | $1.2B | +3% | 16.5% |
| CRSR Corsair Gaming | Q3 2026 | $367M | +6% | -0.4% |
| IMMR Immersion | Q1 FY27 | $294M | +0.8% | -6.8% |
| MITK Mitek Systems | Q3 FY26 | $54.0M | +18% | 21.4% |
| WETH Wetouch Technology | Q2 2026 | $14.0M | +13% | 22.6% |
Source: Evolv Technologies Holdings 10-Q on SEC EDGAR · CIK 1805385 · Computer Peripheral Equipment, NEC
13F: who owns EVLV and who is buying
More on EVLV
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- Evolv Technologies Holdings R&D spending by quarter
- Evolv Technologies Holdings capital expenditures by quarter
- Evolv Technologies Holdings Subscription revenue revenue by quarter
- Evolv Technologies Holdings Product revenue revenue by quarter
- Evolv Technologies Holdings Service revenue revenue by quarter