Filing Flows › Evolv Technologies Holdings (EVLV) › Q2 2026 › vs Q2 2025
Evolv Technologies Holdings (EVLV) Q2 2026 vs Q2 2025 (year over year)
Evolv Technologies Holdings's revenue rose $11.2M (+34%) from $32.5M in Q2 2025 to $43.8M in Q2 2026. The biggest changes: Product revenue +$6.6M (+260%); Subscription revenue +$4.6M (+23%); Service revenue +$2.3M (+34%).
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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 8.0% | -1.4% | +9.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Subscription revenue | $24.8M | $20.2M | $4.6M | +23% |
| Product revenue | $9.1M | $2.5M | $6.6M | +260% |
| Service revenue | $9.0M | $6.7M | $2.3M | +34% |
| License fee and other revenue | $898K | $3.1M | −$2.2M | -71% |
| Revenue | $43.8M | $32.5M | $11.2M | +34% |
| Other income, net | $1.3M | −$23.0M | $24.3M | — |
| Net loss | $9.3M | $40.5M | −$31.2M | -77% |
| Costs & expenses | $54.3M | $73.1M | −$18.8M | -26% |
| Operating costs | $54.3M | $50.0M | $4.3M | +9% |
| Cost of revenue | $21.8M | $16.3M | $5.5M | +34% |
| Research & development | $5.8M | $4.7M | $1.0M | +22% |
| Sales & marketing | $12.7M | $11.7M | $959K | +8% |
| General & admin | $14.0M | $17.2M | −$3.2M | -19% |
| Operating cash sources | $21.2M | $42.6M | −$21.4M | -50% |
| Depreciation & amortization | $7.1M | $5.8M | $1.3M | +22% |
| Share-based compensation | $6.9M | $5.5M | $1.3M | +24% |
| Working capital & other | $7.2M | $31.3M | −$24.1M | -77% |
| Net loss absorbed | $9.3M | $40.5M | −$31.2M | -77% |
| Operating cash flow | $11.9M | $2.1M | $9.8M | +463% |
| Free cash flow (OCF − capex) | $3.5M | −$456K | $4.0M | — |
| Capital expenditures | $8.4M | $2.6M | $5.8M | +227% |
Questions
How much did Evolv Technologies Holdings's revenue grow year over year in Q2 2026?
Evolv Technologies Holdings's revenue rose $11.2M (+34%) from $32.5M in Q2 2025 to $43.8M in Q2 2026.
What drove Evolv Technologies Holdings's revenue change in Q2 2026?
Product revenue +$6.6M (+260%); Subscription revenue +$4.6M (+23%); Service revenue +$2.3M (+34%).