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The latest update is out from Evolv Technologies Holdings ( (EVLV) ).
Evolv Technologies Holdings, Inc. is undergoing significant leadership changes following an internal investigation that revealed inaccuracies in revenue recognition related to sales practices. The company’s CFO, Mark Donohue, has resigned with no severance, and Dave Rawden from AlixPartners has been appointed as Interim CFO to assist with financial restatements and filings. The board plans to enhance risk management, strengthen internal controls, and improve corporate governance. The investigation found premature revenue recognition amounting to $4-$6 million, but the company’s cash position remains unaffected.
See more insights into EVLV stock on TipRanks’ Stock Analysis page.
