Filing Flows › Evolv Technologies Holdings (EVLV) › Q2 2026 › vs Q1 2026
Evolv Technologies Holdings (EVLV) Q2 2026 vs Q1 2026 (quarter over quarter)
Evolv Technologies Holdings's revenue fell $2.6M (-6%) from $46.3M in Q1 2026 to $43.8M in Q2 2026. The biggest changes: Product revenue −$4.3M (-32%); Subscription revenue +$1.6M (+7%); Service revenue +$373K (+4%).
Evolv Technologies Holdings, Q2 2026: revenue $43.8M (+34% year over year), operating margin -24.1%, net loss $9.3M, operating cash flow $11.9M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 8.0% | -14.9% | +23.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Subscription revenue | $24.8M | $23.1M | $1.6M | +7% |
| Product revenue | $9.1M | $13.4M | −$4.3M | -32% |
| Service revenue | $9.0M | $8.6M | $373K | +4% |
| License fee and other revenue | $898K | $1.2M | −$272K | -23% |
| Revenue | $43.8M | $46.3M | −$2.6M | -6% |
| Other income, net | $1.3M | $3.4M | −$2.2M | -63% |
| Net loss | $9.3M | $5.0M | $4.3M | +86% |
| Costs & expenses | $54.3M | $54.8M | −$496K | -0.9% |
| Operating costs | $54.3M | $54.8M | −$496K | -0.9% |
| Cost of revenue | $21.8M | $22.7M | −$928K | -4% |
| Research & development | $5.8M | $5.9M | −$104K | -2% |
| Sales & marketing | $12.7M | $12.7M | $24K | +0.2% |
| General & admin | $14.0M | $13.5M | $512K | +4% |
| Operating cash sources | $21.2M | $1.8M | $19.4M | 12× |
| Depreciation & amortization | $7.1M | $6.8M | $299K | +4% |
| Share-based compensation | $6.9M | $5.6M | $1.3M | +23% |
| Working capital & other | $7.2M | −$10.6M | $17.8M | — |
| Net loss absorbed | $9.3M | $5.0M | $4.3M | +86% |
| Operating cash flow | $11.9M | −$3.2M | $15.1M | — |
| Free cash flow (OCF − capex) | $3.5M | −$6.9M | $10.4M | — |
| Capital expenditures | $8.4M | $3.7M | $4.7M | +124% |
Questions
How much did Evolv Technologies Holdings's revenue grow quarter over quarter in Q2 2026?
Evolv Technologies Holdings's revenue fell $2.6M (-6%) from $46.3M in Q1 2026 to $43.8M in Q2 2026.
What drove Evolv Technologies Holdings's revenue change in Q2 2026?
Product revenue −$4.3M (-32%); Subscription revenue +$1.6M (+7%); Service revenue +$373K (+4%).