Evolv Technologies Q3 revenue  beats estimates on new customer growth

Evolv Technologies Holdings

13/11/2025 21:16

Overview

Evolv Technologies Q3 revenue grows 57% yr/yr, beating analyst expectations

Company raises 2025 revenue outlook to $142-$145 mln, up 37%-40% yr/yr

Adjusted EBITDA for Q3 2025 at $5.1 mln, improved from $(3.0) mln in Q3 2024

Outlook

Company raises 2025 revenue outlook to $142-$145 mln, up 37%-40% year-over-year

Company expects positive full-year Adjusted EBITDA margins in 2025 with high single-digits

Company anticipates being cash flow positive in Q4 2025

Result Drivers

NEW CUSTOMER ACQUISITIONS - Revenue growth driven by strong new customer additions and expanded deployments with existing customers

LARGEST CUSTOMER ORDER - Approximately $3.0 mln of revenue attributed to the largest customer order in company's history

GROWING DEMAND FOR AI SOLUTIONS - Company sees increasing demand for AI-based security solutions

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$42.90 mln
$33.70 mln (5 Analysts)
Q3 EPS
-$0.01
Q3 Net Income
-$1.80 mln
Q3 Annual Recurring Revenue
$117.20 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 $9.75, about 31.1% above its November 12 closing price of $6.72

Press Release: ID:nBw6B1KwHa

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(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.)