Evolv Technologies (NASDAQ:EVLV) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

13 May 2026, 10:56 by Scott Moore · The Cerbat Gem

Evolv Technologies (NASDAQ:EVLV – Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04, FiscalAI reports. The firm had revenue of $46.33 million for the quarter, compared to analyst estimates of $43.70 million. Evolv Technologies had a negative net margin of 22.71% and a negative return on equity of 30.45%.

Here are the key takeaways from Evolv Technologies’ conference call:

Q1 results were strong, with revenue up 45% year over year to $46.3 million, ARR rising 20% to $127.3 million, and Adjusted EBITDA margin improving to 8.5% from 6.4% last year.
Management raised full-year 2026 revenue guidance to $175 million-$180 million from $172 million-$178 million, citing healthy pipeline, strong execution, and continued demand across end markets.
The company said its revenue mix is shifting toward purchase subscriptions, which boosts near-term revenue but creates a timing effect, including expected sequential Q2 revenue decline after a heavy Q1 backlog shipment.
Adoption of Evolv eXpedite is accelerating, with over 75 customers and about 6% of the customer base now using it, up from roughly 1% a year ago; management sees it as a differentiator that can improve unit economics and account expansion.
Management said it is on track to end 2026 with comfortably over 10,000 units deployed, and expects expanded full-year Adjusted EBITDA margins in the high single digits while remaining on track to be cash flow positive in the second half of 2026.

Evolv Technologies Price Performance

EVLV traded down $1.47 during midday trading on Wednesday, hitting $5.49. The company had a trading volume of 3,021,249 shares, compared to its average volume of 2,855,775. Evolv Technologies has a twelve month low of $4.16 and a twelve month high of $8.91. The company has a market capitalization of $986.46 million, a PE ratio of -26.26 and a beta of 1.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.23. The firm’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $6.35.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EVLV shares. Zacks Research upgraded shares of Evolv Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolv Technologies in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.13.

View Our Latest Stock Analysis on Evolv Technologies

Insider Activity

In other news, Director Michael Ellenbogen sold 91,771 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $5.10, for a total transaction of $468,032.10. Following the sale, the director directly owned 2,083,961 shares of the company’s stock, valued at $10,628,201.10. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Creek Drive Management Group LLC acquired a new position in Evolv Technologies during the 4th quarter worth $1,432,000. nVerses Capital LLC acquired a new stake in shares of Evolv Technologies in the 4th quarter valued at $97,000. Stoic Point Capital Management LLC acquired a new stake in shares of Evolv Technologies in the 4th quarter valued at $40,724,000. Polymer Capital Management US LLC bought a new stake in shares of Evolv Technologies during the fourth quarter worth $118,000. Finally, Engineers Gate Manager LP lifted its stake in shares of Evolv Technologies by 3.1% during the fourth quarter. Engineers Gate Manager LP now owns 174,030 shares of the company’s stock valued at $1,246,000 after acquiring an additional 5,204 shares during the period. Institutional investors own 66.65% of the company’s stock.

About Evolv Technologies

(Get Free Report)

Evolv Technologies, Inc is a publicly traded American security technology company that develops and markets AI-driven weapons detection and screening solutions. The company’s proprietary platform combines advanced sensors, computer vision software and machine learning algorithms to identify potential threats—such as firearms and knives—while minimizing false positives and preserving high throughput. Evolv’s systems are designed to replace or supplement traditional metal detectors and manual bag checks in high-traffic venues.