NASDAQ$EVLV
Evolv Technologies Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Evolv Technology reported first quarter financial results with revenue up 17% year-over-year and ending ARR up 96% year-over-year.
Evolv Technology announced its Q1 2024 financial results, with a revenue of $21.7 million, a 17% increase year-over-year. The Annual Recurring Revenue (ARR) reached $82.5 million, marking a 96% increase year-over-year. The company's net loss was $(11.6) million, or $(0.08) per share, and adjusted loss was $(13.1) million, or $(0.09) per share.
- Q1 Revenue reached $21.7 million, a 17% increase year-over-year.
- Ending ARR for Q1 was $82.5 million, up 96% year-over-year.
- Ending RPO for Q1 totaled $254.1 million, reflecting a 57% increase year-over-year.
- Evolv Express subscriptions ended Q1 with 4,882, up 75% year-over-year.
Headline financials
Revenue & EPS history
Evolv · Revenue · Quarterly
$21.7M
Revenue by segment
Evolv · $18.6M total across 3 segments · Q1 2023
- Product Revenue$8.75M—47.1%
- Subscription Revenue$6.47M—34.8%
- Service Revenue$3.36M—18.1%
Forward guidance
The Company commented on its business outlook for 2024. The Company's outlook is based on the current indications for its business, which may change at any time.
Tailwinds
- Adjusted Gross Margin is expected to be around 60%.
- Adjusted EBITDA is expected to improve by 40%+
Headwinds
- Total Revenue is expected to be ~$100 million.
- ARR at 12/31/24 is expected to be ~$100 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+0.9%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+6.3%
Avg return
30 days after
59%
13 / 22 earnings
Positive
+29.2%
Q3 2022
Best reaction
-45.0%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.6% | -17.6% | -11.3% | |
| Q4 2025 | +9.7% | -1.1% | +13.5% | |
| Q3 2025 | -8.7% | -10.0% | +6.5% | |
| Q1 2025 | +7.8% | +3.1% | +3.4% | |
| Q3 2024 | -0.9% | -5.4% | +22.3% | |
| Q4 2024 | -1.4% | +4.3% | +31.3% | |
| Q2 2024 | -1.7% | +4.1% | +23.2% | |
| Q1 2024 | -38.9% | -26.9% | -36.3% | |
| Q4 2023 | -13.7% | -18.0% | -3.3% | |
| Q3 2023 | -11.8% | +0.8% | +13.8% | |
| Q2 2023 | +26.4% | +28.4% | +12.6% | |
| Q1 2023 | +25.2% | +28.6% | +50.4% | |
| Q4 2022 | +10.2% | +4.7% | +13.5% | |
| Q3 2022 | +29.2% | +29.2% | +31.4% | |
| Q2 2022 | +14.5% | +18.8% | -16.7% | |
| Q1 2022 | +12.8% | +20.9% | +57.2% | |
| Q4 2021 | -45.0% | -42.1% | -18.4% | |
| Q3 2021 | +17.5% | +9.8% | -23.3% | |
| Q2 2021 | -13.1% | -5.8% | -33.9% | |
| Q1 2021 | +0.1% | +0.3% | +0.1% | |
| Q4 2020 | +0.2% | -0.4% | -0.8% | |
| Q3 2020 | +0.4% | +0.7% | +2.6% | |
| Q2 2020 | — | — | — |
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