Evolv Technologies Q1 revenue jump tops estimates; hikes FY sales view

Evolv Technologies Holdings

12/05/2026 21:23

Overview

Security tech firm's Q1 2026 revenue rose 45% yr/yr, beating analyst expectations

Adjusted EBITDA for Q1 2026 improved to $3.9 mln with margin of 8.5%

Company raised 2026 revenue outlook, now expects 20%-23% yr/yr revenue growth

Outlook

Evolv raises 2026 revenue outlook to $175-$180 mln, up from prior $172-$178 mln range

Company expects 2026 ending ARR of $145-$150 mln, unchanged from prior forecast

Evolv expects 2026 adjusted EBITDA margin in high single digits, unchanged from prior outlook

Result Drivers

NEW CUSTOMER ACQUISITION - Co said Q1 revenue growth was driven by strong new customer additions

EXPANDED DEPLOYMENTS - Co cited continued expansion of deployments within its installed base as a driver of revenue

PRODUCT ADOPTION - Growing adoption of Evolv eXpedite contributed to Q1 revenue growth, per CEO John Kedzierski

Company press release: ID:nBw8DbRGda

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$46.30 mln
$43.71 mln (4 Analysts)
Q1 Net Income
-$5 mln
Q1 Annual Recurring Revenue
$127.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the communications & networking peer group is "buy"

Wall Street's median 12-month price target for Evolv Technologies Holdings Inc is $10.00, about 44.5% above its May 11 closing price of $6.92

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)