Evolv Technologies Holdings, Inc. (EVLV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En una era en la que las amenazas de seguridad evolucionan a la velocidad del rayo, Evolv Technologies Holdings, Inc. (EVLV) surge como una fuerza innovadora en la detección inteligente de amenazas, revolucionando cómo los espacios públicos salvaguardan la seguridad humana. Al aprovechar la inteligencia artificial de vanguardia y las tecnologías de sensores avanzados, Evolv ha desarrollado una solución de detección no invasiva que promete transformar los protocolos de seguridad en estadios, aeropuertos, instituciones educativas e instalaciones de infraestructura crítica. Su enfoque innovador no solo acelera la identificación de amenazas, sino que también minimiza la interrupción, ofreciendo una visión del futuro de los sistemas de seguridad inteligentes y centrados en los humanos que priorizan tanto la seguridad como las experiencias de los visitantes sin problemas.

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con integradores de seguridad y proveedores de tecnología

Evolv Technologies ha establecido asociaciones críticas con los siguientes integradores clave de tecnología e seguridad:

Pareja	Enfoque de asociación	Detalles de colaboración
Soluciones de Motorola	Integración de seguridad física	Desarrollo de la plataforma de tecnología conjunta
Convergint Technologies	Implementación de sistemas de seguridad	Despliegue a nivel nacional de soluciones de detección
Johnson controla	Infraestructura de seguridad empresarial	Soluciones de tecnología de seguridad integradas

Asociaciones con estadios, aeropuertos y grandes lugares públicos

Evolv Technologies ha asegurado asociaciones con lugares principales:

• Jardín de Madison Square
• Aeropuerto Internacional de Denver
• Clínica de Cleveland
• Universal Studios

Alianzas de ciberseguridad y tecnología de IA

Las asociaciones de integración de tecnología incluyen:

AI/socio de ciberseguridad	Alcance de integración	Enfoque tecnológico
Nvidia	Procesamiento de IA	Algoritmos de detección avanzados
Microsoft Azure	Infraestructura en la nube	Gestión de datos segura

Relaciones con organizaciones de seguridad del gobierno y del sector privado

Asociaciones de seguridad gubernamental e institucional:

• Departamento de Seguridad Nacional
• Administración de Seguridad del Transporte
• Sistemas de atención médica importantes
• Instituciones K-12 e educación superior

A partir del cuarto trimestre de 2023, Evolv Technologies reportó 1.700 sistemas desplegados en varios sectores, que representan un 38% de aumento año tras año en la implementación.

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: actividades clave

Desarrollo de la tecnología de detección de detección de armas con IA

Evolv Technologies se centra en desarrollar soluciones de detección avanzadas de AI con las siguientes especificaciones tecnológicas clave:

Parámetro tecnológico	Especificación
Velocidad de detección	Hasta 900 personas por hora
Precisión de detección de IA	Tasa de detección de amenazas del 99,6%
Modelos de aprendizaje automático	Más de 50 algoritmos de detección patentados

Mejoras continuas de software y algoritmo

Inversión en I + D en mejora tecnológica:

• 2023 Gastos de I + D: $ 23.4 millones
• Frecuencia de actualización de software: mejoras algorítmicas trimestrales
• Portafolio de patentes: 37 patentes de tecnología otorgadas

Ventas y marketing de soluciones de detección de seguridad

Segmento de mercado	Números de implementación
Lugar de deportes	Más de 150 estadios
Campus corporativos	87 clientes empresariales
Centros de transporte	42 Instalaciones del aeropuerto

Investigación y desarrollo de sistemas avanzados de detección de amenazas

Áreas de enfoque de desarrollo tecnológico:

• Reconocimiento de amenazas de inteligencia artificial
• Mejora del modelo de aprendizaje automático
• Mejoras de tecnología de sensores

I + D Métrica	2023 datos
Inversión total de I + D	$ 23.4 millones
Personal de ingeniería	78 personal técnico
Iteraciones tecnológicas anuales	4 lanzamientos principales de software

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: recursos clave

Algoritmos avanzados de IA y aprendizaje automático

A partir del cuarto trimestre de 2023, Evolv Technologies ha desarrollado algoritmos de detección de IA con las siguientes especificaciones:

Métrico	Valor
Precisión de detección de IA	95.4%
Velocidad de procesamiento	300 personas por hora
Iteraciones del modelo de aprendizaje automático	17 versiones distintas

Tecnologías de hardware y sensor de detección patentados

Inventario de recursos de hardware a partir de diciembre de 2023:

• Sistemas de detección total implementados: 1.850 unidades
• Generaciones de tecnología de sensores: 3 generaciones actuales
• Rangos de detección de longitud de onda: 380-1100 nm

Propiedad intelectual y patentes

Categoría de patente	Número de patentes
Emitió patentes	24
Aplicaciones de patentes pendientes	12
Presentaciones de patentes internacionales	8

Ingeniería técnica y talento de desarrollo de software

Composición de la fuerza laboral en departamentos técnicos:

• Empleados totales de I + D: 87
• Titulares de doctorado: 16
• Ingenieros de software: 43
• Especialistas en aprendizaje automático: 22

Infraestructura de análisis de datos basado en la nube

Infraestructura métrica	Especificación
Capacidad de almacenamiento en la nube	487 TB
Procesamiento diario de datos	3.2 PB
Proveedor de nubes	Servicios web de Amazon
Zonas de redundancia	3 regiones geográficas

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: propuestas de valor

Detección de seguridad no invasivo

La solución de detección de seguridad de Evolv Technology utiliza tecnologías de sensores avanzados con las siguientes especificaciones:

• Rendimiento de detección: hasta 3.600 personas por hora
• Distancia de detección: 3-5 pies de individuos
• Precisión de detección: tasa de detección de amenazas del 99.7%

Detección de amenazas rápidas

Métrico	Actuación
Tiempo de detección	Menos de 3 segundos por persona
Identificación de amenazas en tiempo real	Análisis inmediato de IA con IA
Reducción de falsos positivos	70% más bajo en comparación con los detectores de metales tradicionales

Características de seguridad mejoradas

Las capacidades de seguridad clave incluyen:

• Detección de armas en múltiples categorías
• Identificación simultánea de amenazas múltiples
• Integración con los sistemas de gestión de seguridad existentes

Solución rentable

Aspecto financiero	Punto de datos
Costo de implementación promedio	$ 150,000 - $ 250,000 por instalación
Ahorro de costos operativos	Reducción estimada del 40% en los gastos del personal de seguridad
Mantenimiento anual	Aproximadamente el 10-15% del costo de instalación inicial

Penetración del mercado

Desplegado en sectores que incluyen:

• Estadios deportivos: más de 50 lugares principales
• Centros de transporte: más de 30 aeropuertos
• Campus corporativos: más de 100 ubicaciones empresariales
• Instituciones educativas: más de 25 universidades

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocios: relaciones con los clientes

Enfoque de ventas consultivo para clientes empresariales

A partir del cuarto trimestre de 2023, Evolv Technologies reportó 62 clientes empresariales en varios sectores, incluidos el transporte, la hospitalidad y los lugares. El valor promedio del contrato para clientes empresariales fue de $ 189,000 anuales.

Segmento de clientes	Número de clientes	Valor de contrato promedio
Transporte	18	$215,000
Hospitalidad	22	$175,000
Lugares	22	$165,000

Soporte técnico y servicios de implementación

Evolv Technologies proporciona soporte técnico dedicado con un tiempo de respuesta de 2 horas para problemas críticos. Los servicios de implementación incluyen:

• Configuración del sistema personalizada
• Calibración de detección de amenazas específicas del sitio
• Integración de hardware y software
• Soporte de monitoreo remoto 24/7

Actualizaciones de software en curso y mantenimiento del sistema

En 2023, la compañía invirtió $ 4.2 millones en investigación y desarrollo, lo que resultó en ciclos de actualización de software trimestral. Cubra los contratos de mantenimiento:

• Refinamientos de algoritmos de IA trimestrales
• Parches de vulnerabilidad de seguridad
• Actualizaciones de optimización de rendimiento

Gestión del éxito del cliente

Evolv Technologies mantiene una tasa de retención de clientes del 87% a partir de 2023, con un equipo dedicado de éxito del cliente que administra las relaciones empresariales. El equipo se enfoca en:

• Revisiones comerciales trimestrales
• Seguimiento métrico de rendimiento
• Recomendaciones de mejora continua

Programas de capacitación e incorporación

La compañía ofrece programas de capacitación integrales con una duración promedio de 16 horas por cliente. El entrenamiento incluye:

Componente de entrenamiento	Horas	Método de entrega
Configuración del sistema	4	En persona/virtual
Capacitación del operador	6	Taller práctico
Detección de amenazas avanzadas	6	Módulos en línea

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: canales

Equipo de ventas de Enterprise Direct

A partir del cuarto trimestre de 2023, Evolv Technologies mantiene un equipo de ventas empresarial directo dirigido a mercados verticales clave:

Ventas vertical	Número de representantes de ventas
Seguridad empresarial	37
Sector educativo	22
Deportes y entretenimiento	15

Ferias y conferencias comerciales de la industria de la seguridad

Evolv Technologies participa en eventos clave de la industria:

• Conferencia de seguridad de ISC West - Asistencia anual: 1
• Conferencia Internacional ASIS - Asistencia anual: 1
• Los eventos totales de la industria asistieron en 2023: 8

Marketing digital y plataformas en línea

Canales de marketing digital a partir de 2024:

Plataforma	Seguidores/compromiso
LinkedIn	28,500 seguidores
Sitio web Tráfico mensual	42,000 visitantes únicos
Canal de youtube	5.200 suscriptores

Redes de referencia de socios tecnológicos

Composición de red de socios en 2024:

• Total Technology Partners: 17
• Socios de integración de seguridad: 12
• Socios en la nube y software: 5

Compromisos de consultoría estratégica

Consultor Métricas del canal:

Tipo de compromiso	Número en 2023
Consultas de evaluación de seguridad	94
Sesiones de estrategia de implementación	62
Evaluación de riesgos empresariales	41

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: segmentos de clientes

Grandes lugares públicos (estadios, arenas)

Detalles específicos del segmento de clientes basados ​​en 2023 datos financieros:

Tipo de lugar	Número de implementaciones	Ingresos anuales estimados
Estadios de la NFL	8	$ 2.4 millones
Arena de la NBA	12	$ 3.6 millones
Principales lugares de conciertos	15	$ 1.8 millones

Centros de transporte

Estadísticas de implementación para la seguridad del transporte:

Tipo de concentración	Instalaciones	Valor anual del contrato
Aeropuertos principales	6	$ 3.2 millones
Estaciones de tren	4	$ 1.5 millones

Instituciones educativas

• Escuelas K-12: 87 despliegues
• Universidades: 22 instalaciones del campus
• Presupuesto anual de tecnología de seguridad: $ 5.7 millones

Campus corporativos

Tamaño de la empresa	Número de clientes	Costo de implementación promedio
Fortuna 500	18	$750,000
Empresas de tamaño mediano	45	$350,000

Infraestructura gubernamental y crítica

• Instalaciones federales: 12 instalaciones
• Edificios del gobierno estatal: 28 despliegues
• Sitios de infraestructura crítica: 16 ubicaciones
• Ingresos totales del segmento gubernamental anual: $ 8.9 millones

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Evolv Technologies informó gastos de I + D de $ 27.3 millones, lo que representa una inversión significativa en innovación tecnológica y desarrollo de productos.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 27.3 millones	79.4%
2022	$ 26.1 millones	83.6%

Fabricación y producción de hardware

Los costos de producción de hardware de la compañía para 2023 fueron de aproximadamente $ 12.5 millones, con gastos de fabricación clave que incluyen:

• Adquisición de materia prima
• Abastecimiento de componentes
• Gastos generales de la instalación de fabricación
• Procesos de control de calidad

Inversiones de ventas y marketing

Evolv Technologies asignó $ 16.2 millones a los esfuerzos de ventas y marketing en 2023, centrándose en:

Canal de marketing	Gasto
Marketing digital	$ 5.7 millones
Participación de la feria comercial	$ 2.9 millones
Equipo de ventas directas	$ 7.6 millones

Infraestructura en la nube y mantenimiento de tecnología

Los costos de infraestructura tecnológica para 2023 totalizaron $ 6.8 millones, que incluyen:

• Suscripciones de servicios en la nube
• Licencia de software
• Sistemas de ciberseguridad
• Mantenimiento de la infraestructura tecnológica

Costos de adquisición de personal y talento

Los gastos totales de personal para 2023 fueron de $ 42.1 millones, desglosados ​​de la siguiente manera:

Categoría de costos	Cantidad
Salarios base	$ 34.6 millones
Beneficios y seguro	$ 5.2 millones
Reclutamiento y capacitación	$ 2.3 millones

Evolv Technologies Holdings, Inc. (EVLV) - Modelo de negocios: flujos de ingresos

Venta de sistema de hardware

T3 2023 Ventas del sistema de hardware: $ 5.1 millones

Tipo de producto	Precio unitario promedio	Volumen de ventas anual
Sistemas de detección de armas	$125,000	40-50 unidades
Sistemas de detección de seguridad	$95,000	30-40 unidades

Tarifas de suscripción de software recurrentes

Ingresos recurrentes anuales (ARR) para 2023: $ 8.2 millones

• Suscripción mensual por sistema: $ 1,500- $ 2,500
• Valor de suscripción anual promedio: $ 18,000- $ 30,000

Servicios de instalación e implementación

Ingresos de servicios de instalación del trimestre 2023: $ 2.3 millones

Tipo de servicio	Costo promedio
Configuración inicial del sistema	$25,000-$50,000
Configuración personalizada	$10,000-$25,000

Contratos anuales de mantenimiento y soporte

2023 Ingresos del contrato de mantenimiento: $ 4.7 millones

• Valor de contrato de mantenimiento anual: 15-20% del costo de hardware
• Contrato de soporte anual promedio: $ 15,000- $ 25,000

Análisis de datos e información con licencias

2023 Ingresos de licencia de análisis de datos: $ 1.5 millones

Nivel de licencia	Fijación de precios anuales
Análisis básico	$5,000-$10,000
Ideas avanzadas	$20,000-$50,000

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Evolv Technologies Holdings, Inc. (EVLV) systems, which boil down to speed, intelligence, and operational visibility. The value proposition centers on moving people quickly while maintaining a high security posture.

High-volume, frictionless security screening for visitors

The system is built for throughput. You see this in the sheer volume of people the technology has processed to date. Evolv Technologies' advanced systems have scanned more than 3 billion people since 2019.

Historically, the Evolv Express system was designed to screen up to 3,600 people per hour, which is cited as 10 times faster than traditional screening methods.

The company's commercial momentum shows this value is being adopted:

• Ending Annual Recurring Revenue (ARR) as of September 30, 2025, was $117.2 million.
• Total revenue for the third quarter of 2025 reached $42.9 million.
• The company surpassed the 1,000-customer milestone globally as of Q2 2025.
• Evolv Technologies expects to close at least 8,000 subscriptions by the end of 2025.

AI-driven differentiation between threats and harmless items

The core technology uses artificial intelligence to distinguish between threats and benign items, which is key to reducing unnecessary stops and maintaining flow. This AI capability underpins the frictionless experience.

The focus on AI is driving adoption in high-stakes environments. For example, Evolv Technologies helped the FIFA Club World Cup 2025™ by deploying Evolv Express® for security screening at all 12 host stadiums.

Real-time data and analytics via Evolv Insights® for optimization

The value extends beyond the physical gate to the security office. Evolv Insights® provides the data you need to manage operations dynamically. This platform delivers real-time dashboards designed to help security teams make operational adjustments based on flow across multiple entrances.

The data provided includes:

• Fan ingress metrics.
• Alarm statistics.
• Threat type analysis.
• System performance insights.

Enhanced safety and improved visitor experience, reducing wait times

The result of high throughput and AI differentiation is a better experience for the visitor and enhanced safety for the venue operator. You see this reflected in customer expansion; 56% of booked Annual Recurring Revenue in Q2 2025 came from existing customers, showing continued trust and expansion within the current user base.

The company's success in securing marquee renewals and expansions, such as with Gillette Stadium, reinforces this value proposition.

Here are some key financial and operational metrics as of late 2025:

Metric	Value (As of Q3 2025 or Latest)
Q3 2025 Revenue	$42.9 million
Year-over-Year Q3 Revenue Growth	57%
Ending ARR (Q3 2025)	$117.2 million
ARR Year-over-Year Growth (Q3 2025)	25%
Q3 2025 Adjusted EBITDA	$5.1 million
Q3 2025 Adjusted EBITDA Margin	12%
Total People Screened Since 2019	Over 3 billion
Cash, Cash Equivalents, and Marketable Securities (9/30/2025)	$56.2 million

The company also reported that for the first nine months of 2025, total revenue increased by 44%, reaching $107.4 million.

Finance: draft 13-week cash view by Friday.

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Customer Relationships

You're looking at how Evolv Technologies Holdings, Inc. keeps its customers engaged and growing their spend, which is critical for a security-as-a-service model. The relationship is built on long-term commitments and demonstrated value.

Multi-year, security-as-a-service subscription contracts form the backbone of the revenue predictability you want to see. The Annual Recurring Revenue (ARR) as of June 30, 2025, stood at $110.5 million, marking a 27% year-over-year increase. This recurring component was significant, with 80% of Q1 2025 revenue being recurring revenue. The total active subscriptions surpassed 7,000 by the end of Q2 2025, with a target of at least 8,000 by year-end.

The scale of customer engagement is visible in the deployment numbers and contract values:

• Added approximately 470 new multi-year subscriptions in Q4 2024.
• Secured a $15 million contract with Gwinnett County Public Schools in Q2 2025.
• The new Evolv eXpedite bag screening solution reached 20 total customers since launch, adding 8 in Q2 2025.
• Serves over 1,000 customers globally as of Q2 2025.

The health of these relationships is quantified by retention metrics, which show existing customers are expanding their use of Evolv Technologies Holdings, Inc. solutions:

Metric	Period/Date	Value
Net Unit Retention	First Half of 2025 (Reported)	Over 100%
Annual Recurring Revenue (ARR)	June 30, 2025	$110.5 million
ARR Year-over-Year Growth	June 30, 2025	27%
Subscription Revenue Growth	Q1 2025 vs. Q1 2024	35%
Total Active Subscriptions	Q2 2025	Surpassed 7,000

Dedicated customer success and technical support teams help drive this expansion. For example, following the resolution with the FTC, of the 65 eligible K-12 customers, 60 customers (92%) elected to retain their contracts, and four actually expanded their use by adding 10 additional units. This expansion activity is the engine behind the high retention figures.

Data-driven consulting to optimize security operations is implied by the continuous deployment and expansion across diverse verticals, including education, healthcare, and professional sports. The company serves over 450 hospital buildings and over 1,200 school buildings as of December 31, 2024.

Finance: draft 13-week cash view by Friday.

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Channels

You're looking at how Evolv Technologies Holdings, Inc. gets its AI screening solutions into the hands of customers as of late 2025. The core channel strategy has seen a significant internal shift, moving away from a reliance on distributors toward a more direct relationship for revenue capture.

Direct sales and fulfillment, which is the new strategic focus

Evolv Technologies Holdings, Inc. is actively pivoting its go-to-market model, specifically moving from distribution fulfillment to direct fulfillment for channel partner purchase subscription orders. This strategic change is designed to capture a larger share of the contract value over the life of the agreement. Under the previous distribution model, Evolv Technologies Holdings, Inc. captured approximately ~70% of the Total Contract Value (TCV) for a channel partner purchase subscription order, whereas the direct fulfillment model allows Evolv Technologies Holdings, Inc. to capture 100% of the TCV. This shift is expected to deliver higher revenue, gross profit, and cash flows over the subscription term, though it creates a Year 1 gross margin headwind. For context on the financial impact, the old distribution model captured only about ~48% of the Total Customer Order to Evolv Technologies Holdings, Inc. Annual Recurring Revenue (ARR). The focus on direct fulfillment is clearly driving top-line results, with Q3 2025 revenue hitting $42.9 million, a 57% increase year-over-year, and Annual Recurring Revenue (ARR) reaching $117.2 million, up 25% year-over-year as of that quarter. Management expects this trend to continue, with ARR growth projected to outpace total revenue growth in 2026, forecasting at least 20% ARR growth in 2026.

Here's a quick comparison of the channel revenue capture based on the shift:

Metric	Distribution Fulfillment (Illustrative)	Direct Fulfillment (New Focus)
Total Contract Value (TCV) Captured by Evolv Technologies Holdings, Inc.	~70%	100%
Total Customer Order to EVLV ARR Capture	~48%	65%-70%
Year 1 Gross Margin Impact	N/A	Headwind

The company raised its full-year 2025 revenue guidance to between $142 million and $145 million, representing 37% to 40% growth year-over-year.

Strategic distribution partners for certain market segments

While the strategic focus is direct fulfillment, the historical channel structure involved distribution partners. The current strategy is designed to simplify the buying process for these channel partners while ensuring Evolv Technologies Holdings, Inc. captures the full recurring revenue stream. The shift is explicitly noted as being significantly simpler for channel partners. The company also secured a $75 million credit facility in Q2 2025 to support subscription growth, which is key for managing the cash flow dynamics of this channel shift.

Direct-to-customer deployment and installation services

Deployment and installation are intrinsically linked to the direct sales focus, as direct fulfillment allows Evolv Technologies Holdings, Inc. to manage the entire customer lifecycle, which sets them up for higher renewal rates. As of December 31, 2024, Evolv Technologies Holdings, Inc. served over 1,200 school buildings and over 450 hospital buildings. By June 30, 2025, the company surpassed the 1,000-customer milestone globally, with over 7,000 active subscriptions, aiming for 8,000 to 8,100 by the end of 2025. The company also booked its first orders for Evolv eXpedite™, its new AI-based weapons detection solution for bags, in Q4 2024, and by mid-November 2025, Evolv eXpedite™ had screened over one million bags.

Key deployment and customer metrics as of mid-to-late 2025:

• Active Subscriptions expected by year-end 2025: 8,000 to 8,100.
• New customers added in Q3 2025: Over 60.
• New customers added in Q2 2025: 63.
• Expansion from existing customers accounted for 56% of booked ARR in Q2 2025.
• Total visitors screened by Evolv systems since 2019: More than 3 billion people.

Virtual and in-person product demonstrations and events

Customer acquisition is clearly supported by market presence, evidenced by the consistent addition of new customers across various verticals. The company added approximately 60 new customers across education, healthcare, professional sports, live entertainment, tourist attractions, and industrial workplaces in the quarter ending December 31, 2024. The Q3 2025 results showed strong new customer growth fueling the 57% revenue increase. The company secured its largest customer contract to date at US$3 million in the weeks leading up to its late 2025 guidance raise. The technology has been deployed at venues like the Inter Miami stadium and for the FIFA Club World Cup, demonstrating success in the sports/entertainment segment through in-person exposure.

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Customer Segments

You're looking at the core of Evolv Technologies Holdings, Inc.'s market penetration, which is heavily concentrated in high-traffic, security-sensitive environments. The company's strategy focuses on replacing legacy metal detectors with its AI-powered Evolv Express systems across several key verticals.

The customer base is segmented across four primary areas, with specific deployment metrics available for the education and healthcare sectors as of early to mid-2025.

K-12 and Higher Education Institutions

This segment represents a significant portion of Evolv Technologies Holdings, Inc.'s installed base. The company has seen strong retention rates even after a regulatory-related cancellation period.

The quantitative deployment data for this segment includes:

• Installed systems in over 1,300 school buildings as of Q1 2025.
• Screening 850,000+ students and visitors per day across these educational facilities in Q1 2025.
• Active presence in 20 of the 100 largest U.S. school districts.
• Achieved 92% Net Revenue Retention and 94% Net Unit Retention among a cohort of education customers eligible for contract cancellation as of March 31, 2025.

A concrete example of a major win in this segment is the $15 million contract with Gwinnett County Public Schools booked in Q2 2025.

Healthcare Facilities

Evolv Technologies Holdings, Inc. serves hospitals and healthcare systems looking to secure entrances without slowing down patient and visitor flow. By the start of 2025, the installed base in this sector reached a substantial number.

Key figures for healthcare deployments include:

Metric	Data Point (As of Early 2025)
Total Hospital Buildings Served	Over 450 hospital buildings
Healthcare Visitors Screened Daily	~112K (Q1 2025 estimate)
U.S. Hospital Buildings Served	62+ (Q1 2025)

The company secured deployments at facilities like Ohio State University Wexner Medical Center in Q2 2025.

Professional Sports and Live Entertainment Venues

This segment focuses on large-scale venues where fan experience is paramount. Evolv Technologies Holdings, Inc. has secured partnerships with professional sports franchises.

Deployment evidence points to:

• The Seattle Mariners' T-Mobile Park deployed Evolv Express systems ballpark-wide for the 2025 Opening Day.
• The Mariners joined a dozen pro baseball teams partnering with Evolv.
• The company has deployments at venues like Inter Miami CF's Miami Freedom Park as of Q2 2025.
• The Moda Center in Portland, OR, is another venue utilizing the technology.

Tourist Attractions and Industrial Workplaces

These sectors are grouped as they represent other high-volume environments where Evolv Technologies Holdings, Inc. saw new customer adoption in the fourth quarter of 2024. While specific unit counts for these two categories aren't broken out separately, they contribute to the overall customer base.

The total reach across all segments is significant; Evolv's advanced systems have scanned more than two billion people since 2019. By Q2 2025, the company served more than 1,000 customers globally.

Finance: draft 13-week cash view by Friday.

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Cost Structure

The Cost Structure for Evolv Technologies Holdings, Inc. centers on scaling its technology and driving market penetration, with management actively focused on improving operating leverage. You need to know where the cash is going to understand the path to sustained profitability.

High investment in Research & Development (R&D) and engineering

Evolv Technologies Holdings, Inc. historically commits significant resources to its core technology. While specific 2025 R&D figures are often bundled into broader operating expenses, the commitment to innovation is evident through product releases like Evolv Express 9.0 and Evolv eXpedite 1.2 in late 2025. For context on the scale of this investment, the Research & Development Expense for the full year 2024 was reported at $23 million. The company's Q2 2025 results indicated that higher operating expenses, including R&D investments, contributed to the net loss for that quarter, even as revenue grew.

Sales and marketing expenses to drive customer acquisition

Driving customer acquisition is a major cost driver, essential for growing both the installed base and Annual Recurring Revenue (ARR). In Q1 2025, Sales and Marketing Expenses were reported at $11.0 million. The shift in fulfillment strategy also impacts how these costs are realized; the direct purchase fulfillment model captures 100% of the Average Revenue Per Unit (ARPU) immediately, which influences the timing of revenue recognition versus subscription-based models. The company welcomed over 60 new customers in Q2 2025 and over 60 new customers in Q3 2025, demonstrating the ongoing spend required for this acquisition pace.

Cost of goods sold (COGS) for hardware, especially with the direct purchase mix

COGS is directly impacted by the evolving sales mix, particularly the pivot toward direct purchases over traditional distribution channels. The direct purchase mix accounted for 57% of unit activity in Q3 2025, a significant increase from 41% in the prior year. This mix shift results in higher immediate revenue but puts pressure on gross margins in the short term due to fulfillment changes and subscale manufacturing costs for newer products like Expedite. For the third quarter of 2025, the GAAP Gross Margin was 49.7%, and the Adjusted Gross Margin was 50.6%, down from 64.1% in Q3 2024. Based on Q3 2025 revenue of $42.9 million, the implied Cost of Goods Sold was approximately $21.21 million.

Here's a look at the margin dynamics:

Metric	Q2 2025 Value	Q3 2025 Value	2025 Guidance (Remainder)
Adjusted Gross Margin	55% (60% ex-reserve)	50.6%	52%-54%
Revenue (Quarterly)	$32.5 million	$42.9 million	Implied Q4 needed for guidance

Operating expenses, which management is focused on reducing for efficiency

Management has made clear its focus on reducing operating expenses to drive efficiency and achieve positive Adjusted EBITDA, which was achieved for the fourth consecutive quarter in Q3 2025. Adjusted Operating Expenses decreased year-over-year in Q2 2025 to $21.6 million from $26.7 million in Q2 2024, a 19% decline. For Q3 2025, the Adjusted Operating Expenses were $24.8 million, a slight decline from $25.2 million year-over-year, demonstrating cost control while scaling growth. The company is targeting positive cash flow in Q4 2025, which relies heavily on this expense discipline.

The components of operating expenses for Q3 2025 included:

• Sales and marketing: $2.724 million (based on one data point)
• General and administrative: $3.308 million (based on one data point)

The total Adjusted Operating Expenses for the nine months ended September 30, 2025, can be estimated by summing the reported quarterly figures, though only Q2 and Q3 total adjusted OpEx were explicitly provided as $21.6 million and $24.8 million, respectively. If you look at Q1 2025, the net loss reduction suggests OpEx control was already in effect.

Evolv Technologies Holdings, Inc. (EVLV) - Canvas Business Model: Revenue Streams

You're looking at how Evolv Technologies Holdings, Inc. brings in cash, which is shifting toward a more predictable, recurring model, though large upfront deals still play a part. Here's the quick math on the revenue components as of late 2025, based on the latest third-quarter filings.

The core of the revenue stream is built around subscriptions, which the company tracks closely with its Annual Recurring Revenue (ARR). This metric shows the value of the committed, ongoing service contracts.

Metric	Value as of Latest Report	Date/Period
Annual Recurring Revenue (ARR)	$117.2 million	End of Q3 2025 (September 30, 2025)
Remaining Performance Obligation (RPO) Backlog	$275 million	As of June 30, 2025
Total 2025 Revenue Guidance (Raised)	$142 million to $145 million	Full Year 2025 Estimate

The shift to a direct fulfillment strategy is intended to increase the lifetime value and the ARR generated per unit, meaning more of the total revenue should eventually fall into that recurring bucket. Still, upfront revenue from direct product purchases, especially large deals, provides significant near-term cash flow. For example, the third quarter of 2025 saw specific non-recurring revenue components contributing to the total:

• $3.0 million from a historic customer order.
• $3.0 million related to IP license fees from a distribution model being phased out.
• $1.5 million from concluded short-term rental agreements.

To be fair, these non-recurring items helped boost the Q3 2025 total revenue to $42.9 million, a 57% increase year-over-year. The company also secured a major contract, like the $15 million deal with Gwinnett County Public Schools, which contributes to both upfront recognition and future ARR.

The overall expectation for the full fiscal year 2025 revenue is now between $142 million and $145 million, reflecting a growth rate of 37% to 40% compared to 2024. Finance: draft 13-week cash view by Friday.