NASDAQ$EVLV
Evolv Technologies Holdings Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported record third quarter results and raised outlook for 2022.
Evolv Technology reported a strong third quarter with a 96% increase in revenue year-over-year, driven by robust market adoption and expansion. The company also raised its business outlook for 2022.
- Q3 Revenue reached $16.5 million, showing a 96% increase year-over-year.
- Q3 Ending ARR totaled $28.7 million, up 189% year-over-year.
- Q3 Ending RPO was $109.4 million, reflecting a 220% increase year-over-year.
- Q3 Ending Evolv Express® subscriptions amounted to 1,692, up 198% year-over-year.
Headline financials
Revenue & EPS history
Evolv · Revenue · Quarterly
$16.5M
Revenue by segment
Evolv · $16.5M total across 3 segments · Q3 2022
- Product Revenue$9.84M+84.1%59.5%
- Subscription Revenue$5.2M+125.5%31.4%
- Service Revenue$1.49M+108.2%9.0%
Forward guidance
The Company raised its outlook for 2022 and provided preliminary estimates for 2023.
Tailwinds
- Total Revenue for 2022 is expected to be between $46 million and $48 million.
- Annual Recurring Revenue (ARR) at 12/31/2022 is projected to be between $31 million and $32 million.
- Exiting ARR in 2023 is estimated to be in the range of $65 million to $70 million, reflecting growth of more than 100%.
- Full year revenues in 2023 are expected to be in the range of $55 million to $60 million.
- The company anticipates significantly reducing its full year operating cash usage in 2023.
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 Q3 2022
+0.9%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+7.1%
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% | — | |
| 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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