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Evolv Technologies Holdings ( (EVLV) ) has shared an announcement.
On January 21, 2025, Evolv Technology announced a reduction in its workforce, affecting 40 employees, as part of a strategy to increase cash savings and pursue growth opportunities. This action, expected to be completed by March 31, 2025, aims to save approximately $9 million annually. Additionally, the company resolved an FTC inquiry about its marketing claims, offering contract cancellations to some educational customers, none of whom have opted for cancellation as of January 23, 2025.
More about Evolv Technologies Holdings
Evolv Technology is a leading security technology company that pioneers AI-based solutions to create safer experiences. It specializes in transforming human security for iconic venues, schools, hospitals, and public spaces through intelligent screening and analytics.
YTD Price Performance: -18.14%
Average Trading Volume: 2,582,291
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $512M
For detailed information about EVLV stock, go to TipRanks’ Stock Analysis page.
