Filing Flows › Evolv Technologies Holdings (EVLV) › Q2 2025
Evolv Technologies Holdings (EVLV) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
Evolv Technologies Holdings (EVLV) reported revenue of $32.5M for the second quarter 2025 (Q2 2025), +29% from a year earlier and +2% from the quarter before. Operating margin was -53.8%, net loss $40.5M (124.6% of revenue).
Evolv Technologies Holdings, Q2 2025: revenue $32.5M (+29% year over year), operating margin -53.8%, net loss $40.5M, operating cash flow $2.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.5M | +2% | +29% |
| Operating profit | −$17.5M | — | — |
| Net earnings | −$40.5M | — | — |
| Operating cash flow | $2.1M | — | — |
What changed
Revenue was $32.5M in Q2 2025, up 29% year over year and up 2% from the previous quarter. Subscription revenue was the largest line at 62% of revenue. Subscription revenue added $4.5M year over year (up 29%), 62% of the total change.
Gross margin was 49.8%, down 8.7 points from a year earlier. Operating costs exceeded revenue by $17.5M, an operating margin of -53.8%. Operating expenses fell 9% while revenue rose 29%. The fastest-growing cost line was General & admin (+23%). The quarter ended with a net loss of $40.5M, wider than the previous quarter's $1.7M loss. Net interest and other expense of $23.0M was the main reason.
Operating cash flow was $2.1M. Non-cash charges added back $5.8M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $31.3M. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$456K.
Questions
What was Evolv Technologies Holdings' revenue in the second quarter 2025?
Evolv Technologies Holdings (EVLV) reported revenue of $32.5M for the second quarter 2025 (Q2 2025), +29% from a year earlier and +2% from the quarter before.
Was Evolv Technologies Holdings profitable in the second quarter 2025?
Operating loss was $17.5M (-53.8% of revenue) and net loss $40.5M.