Filing Flows › Evolv Technologies Holdings (EVLV) › Q1 2025
Evolv Technologies Holdings (EVLV) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 20, 2025
Evolv Technologies Holdings (EVLV) reported revenue of $32.0M for the first quarter 2025 (Q1 2025), +44% from a year earlier and +10% from the quarter before. Operating margin was -45.0%, net loss $1.7M (5.3% of revenue).
Evolv Technologies Holdings, Q1 2025: revenue $32.0M (+44% year over year), operating margin -45.0%, net loss $1.7M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.0M | +10% | +44% |
| Operating profit | −$14.4M | — | — |
| Net earnings | −$1.7M | — | — |
| Operating cash flow | −$2.5M | -179% | — |
What changed
Revenue was $32.0M in Q1 2025, up 44% year over year and up 10% from the previous quarter. Subscription revenue was the largest line at 60% of revenue. Subscription revenue added $5.0M year over year (up 35%), 51% of the total change.
Gross margin was 59.8%, up 5.0 points from a year earlier. Operating costs exceeded revenue by $14.4M, an operating margin of -45.0%. Operating expenses fell 2% while revenue rose 44%. The fastest-growing cost line was General & admin (+27%). The quarter ended with a net loss of $1.7M, narrower than the previous quarter's $15.7M loss. Non-operating items added $12.8M, -785% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.5M. Non-cash charges added back $5.5M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items used $11.3M. Capital expenditures of $12.7M exceeded it, leaving free cash flow of −$15.3M.
Questions
What was Evolv Technologies Holdings' revenue in the first quarter 2025?
Evolv Technologies Holdings (EVLV) reported revenue of $32.0M for the first quarter 2025 (Q1 2025), +44% from a year earlier and +10% from the quarter before.
Was Evolv Technologies Holdings profitable in the first quarter 2025?
Operating loss was $14.4M (-45.0% of revenue) and net loss $1.7M.