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Evolv Technologies Holdings (EVLV)
NASDAQ:EVLV
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.07Last Year’s EPS
-$0.07Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 68.44%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong positive outlook with record revenue growth, substantial improvements in ARR and gross margin, and expansion in the customer base, alongside strategic partnerships and innovation. However, challenges remain with continued negative EBITDA, regulatory issues impacting sales cycles, and a declining cash position.Company Guidance
During the Q2 2024 earnings call for EVLV, the executives provided guidance on several key financial metrics and strategic initiatives. The company reported a record revenue of $25.5 million, reflecting a 29% year-over-year increase, with annual recurring revenue (ARR) reaching $89 million, marking a 64% year-over-year growth. Adjusted gross margin improved significantly to 58%, up from 38% in the previous year, driven by the increased adoption of a distribution subscription model, which accounted for 40% of bookings this quarter. The company also highlighted progress in expanding its customer base, adding 84 new customers, and achieving strong renewal rates with only three out of 12 systems not renewing. Remaining performance obligation (RPO) stood at $263 million. The executives reaffirmed their guidance for 2024, projecting total revenue of $100 million, ARR of $100 million by year-end, and positive adjusted EBITDA by Q2 2025. Key focus areas include building installation backlog, improving sales execution, and driving adoption of the distribution model, with the aim of achieving 25% revenue growth and advancing on the Rule of 40.Record Revenue Growth
Revenue in Q2 2024 reached a record $25.5 million, up 29% year-over-year and 18% sequentially.
Significant ARR and Gross Margin Improvement
Annual Recurring Revenue (ARR) grew to $89 million, up 64% year-over-year, and adjusted gross margin expanded to 58% from 38% in the prior year.
Expansion in Customer Base
Added 84 new customers, the highest since Q4 2022, and now serve over 800 customers across 10 key vertical markets.
Strong Partnership with Motorola
Unit bookings with Motorola were up 196% year-over-year, contributing significantly to overall sales.
Innovative Product Updates
Released a major software update enhancing Evolv Express integration, with new features for increased security infrastructure connectivity.
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EVLV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EVLV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $2.25 | $2.52 | +12.00% |
| Aug 08, 2024 | $3.03 | $2.88 | -4.95% |
| May 09, 2024 | $3.84 | $2.36 | -38.54% |
| Feb 29, 2024 | $4.77 | $3.97 | -16.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Evolv Technologies Holdings (EVLV) report earnings?
Evolv Technologies Holdings (EVLV) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Evolv Technologies Holdings (EVLV) earnings time?
Evolv Technologies Holdings (EVLV) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EVLV EPS forecast?
EVLV EPS forecast for the fiscal quarter 2024 (Q4) is -$0.07.
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