Filing Flows › Evolv Technologies Holdings (EVLV) › Q1 2026 › vs Q4 2025
Evolv Technologies Holdings (EVLV) Q1 2026 vs Q4 2025 (quarter over quarter)
Evolv Technologies Holdings's revenue rose $7.8M (+20%) from $38.5M in Q4 2025 to $46.3M in Q1 2026. The biggest changes: Product revenue +$5.9M (+78%); Subscription revenue +$1.4M (+7%); Service revenue +$438K (+5%).
Evolv Technologies Holdings, Q1 2026: revenue $46.3M (+45% year over year), operating margin -18.3%, net loss $5.0M, operating cash flow −$3.2M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Subscription revenue | $23.1M | $21.7M | $1.4M | +7% |
| Product revenue | $13.4M | $7.5M | $5.9M | +78% |
| Service revenue | $8.6M | $8.2M | $438K | +5% |
| License fee and other revenue | $1.2M | $1.1M | $79K | +7% |
| License fees | $172K | $301K | −$129K | -43% |
| Revenue | $46.3M | $38.5M | $7.8M | +20% |
| Other income, net | $3.4M | $18.9M | −$15.4M | -82% |
| Income tax benefit | $37K | $0 | $37K | — |
| Net loss | $5.0M | −$10.9M | $15.9M | — |
| Costs & expenses | $54.8M | $57.4M | −$2.6M | -4% |
| Operating costs | $54.8M | $46.5M | $8.3M | +18% |
| Cost of revenue | $22.7M | $19.9M | $2.9M | +14% |
| Research & development | $5.9M | $5.4M | $473K | +9% |
| Sales & marketing | $12.7M | $11.1M | $1.5M | +14% |
| General & admin | $13.5M | $10.1M | $3.4M | +34% |
| Operating cash sources | $15.6M | −$3.8M | $19.4M | — |
| Depreciation & amortization | $6.8M | $6.5M | $320K | +5% |
| Share-based compensation | $5.6M | $5.3M | $307K | +6% |
| Cash used in operations | $3.2M | −$15.6M | $18.8M | — |
| Net loss absorbed | $5.0M | −$10.9M | $15.9M | — |
| Working capital & other | $10.6M | $7.1M | $3.5M | +49% |
Questions
How much did Evolv Technologies Holdings's revenue grow quarter over quarter in Q1 2026?
Evolv Technologies Holdings's revenue rose $7.8M (+20%) from $38.5M in Q4 2025 to $46.3M in Q1 2026.
What drove Evolv Technologies Holdings's revenue change in Q1 2026?
Product revenue +$5.9M (+78%); Subscription revenue +$1.4M (+7%); Service revenue +$438K (+5%).