Filing Flows › Evolv Technologies Holdings (EVLV) › Q1 2026
Evolv Technologies Holdings (EVLV) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Evolv Technologies Holdings (EVLV) reported revenue of $46.3M for the first quarter 2026 (Q1 2026), +45% from a year earlier and +20% from the quarter before. Operating margin was -18.3%, net loss $5.0M (10.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.3M | +20% | +45% |
| Operating profit | −$8.5M | — | — |
| Net earnings | −$5.0M | -146% | — |
| Operating cash flow | −$3.2M | -120% | — |
What changed
Revenue was $46.3M in Q1 2026, up 45% year over year and up 20% from the previous quarter. Subscription revenue was the largest line at 50% of revenue. Product revenue added $11.1M year over year (up 478%), 78% of the total change. License fees declined 95%.
Gross margin was 50.9%, down 8.9 points from Q1 2025. Operating costs exceeded revenue by $8.5M, an operating margin of -18.3%. Operating expenses fell 4% while revenue rose 45%. The fastest-growing cost line was Research & development (+21%). The quarter ended with a net loss of $5.0M, after a profit of $10.9M the previous quarter. Non-operating items added $3.4M, -68% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.2M. Non-cash charges added back $6.8M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items used $10.6M. Capital expenditures of $6.4M exceeded it, leaving free cash flow of −$9.6M.
Questions
What was Evolv Technologies Holdings' revenue in the first quarter 2026?
Evolv Technologies Holdings (EVLV) reported revenue of $46.3M for the first quarter 2026 (Q1 2026), +45% from a year earlier and +20% from the quarter before.
Was Evolv Technologies Holdings profitable in the first quarter 2026?
Operating loss was $8.5M (-18.3% of revenue) and net loss $5.0M.