Evolv Technologies (NASDAQ:EVLV) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Posted by Brian Himes on Aug 12th, 2026

Evolv Technologies (NASDAQ:EVLV – Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), Zacks reports. The firm had revenue of $43.75 million for the quarter, compared to analyst estimates of $41.80 million. Evolv Technologies had a negative net margin of 22.75% and a negative return on equity of 33.53%.

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

Evolv reported Q2 revenue of $43.8 million, up 34% year over year, while adjusted EBITDA margin expanded to 10.1% from 6.5% and first-half adjusted EBITDA doubled year over year.
Customer momentum remained strong, with 70 new customers added—the best quarter in two years—while roughly 60% of unit bookings came from existing customers, net revenue retention stayed above 100%, and RPO increased 4.5% sequentially to $312.6 million.
Adoption of the broader platform is expanding, with more than 100 Evolv eXpedite customers, growing Gen2 upgrades, and new wins across education, healthcare, sports, entertainment, and Fortune 500 workplaces. The company also began shipping through new manufacturing partner Plexus, which it expects to improve capacity, resiliency, and costs over time.
Evolv raised its 2026 outlook, forecasting revenue of $180 million-$185 million, ARR of $148 million-$150 million, more than 10,000 deployed units, and adjusted EBITDA of $15 million-$16 million.
Management expects future year-over-year revenue comparisons to be less favorable as the temporary benefit from its 2025 fulfillment-model change rolls off. The 2026 gross-margin outlook also faces pressure from a higher mix of purchase subscriptions, Gen1 upgrade-related costs, and higher component and supply-chain expenses, while a potential $2 million-$4 million inventory investment remains possible.

Evolv Technologies Stock Down 7.6%

Shares of NASDAQ EVLV traded down $0.46 during mid-day trading on Wednesday, reaching $5.57. The company had a trading volume of 2,346,360 shares, compared to its average volume of 2,736,716. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.21. Evolv Technologies has a twelve month low of $4.86 and a twelve month high of $8.91. The stock’s 50 day moving average is $5.82 and its 200-day moving average is $5.93. The stock has a market capitalization of $1.00 billion, a PE ratio of -24.22 and a beta of 1.80.

Wall Street Analyst Weigh In

A number of research firms recently commented on EVLV. Zacks Research lowered shares of Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. TD Cowen reissued a “buy” rating and set a $10.00 target price on shares of Evolv Technologies in a research note on Tuesday, June 9th. Craig Hallum restated a “buy” rating and issued a $11.25 target price on shares of Evolv Technologies in a report on Wednesday. Finally, Weiss Ratings raised Evolv Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evolv Technologies has an average rating of “Moderate Buy” and an average target price of $10.06.

View Our Latest Research Report on Evolv Technologies

Trending Headlines about Evolv Technologies

Here are the key news stories impacting Evolv Technologies this week:

Positive Sentiment: Evolv reported second-quarter revenue of $43.75 million, exceeding the approximately $41.8 million analyst consensus. The company’s quarterly loss of $0.05 per share also improved substantially from a $0.25 loss a year earlier. Evolv Technologies Q2 earnings report
Positive Sentiment: Management raised its fiscal 2026 revenue outlook to $180 million-$185 million, above the roughly $177.3 million consensus estimate. The improved outlook and management’s generally positive earnings-call commentary provide a potential growth catalyst. Evolv Technologies boosts outlook
Neutral Sentiment: The earnings call highlighted the company’s second-quarter performance and updated outlook, but investors will likely continue monitoring whether revenue growth can translate into sustained profitability. Evolv Technologies Q2 2026 earnings call transcript
Negative Sentiment: Evolv’s adjusted quarterly loss of $0.05 per share missed the approximately $0.03 analyst estimate cited by MarketBeat. The company also remains unprofitable, with a reported negative net margin and negative return on equity, which may have outweighed the revenue beat in the market’s initial reaction. Evolv Technologies earnings results

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVLV. Stoic Point Capital Management LLC purchased a new stake in shares of Evolv Technologies during the 4th quarter worth about $40,724,000. Millennium Management LLC increased its stake in shares of Evolv Technologies by 194.6% during the 3rd quarter. Millennium Management LLC now owns 4,187,604 shares of the company’s stock worth $31,616,000 after purchasing an additional 2,766,335 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Evolv Technologies by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 3,680,421 shares of the company’s stock worth $26,357,000 after purchasing an additional 557,703 shares during the last quarter. State Street Corp raised its holdings in shares of Evolv Technologies by 19.3% during the 4th quarter. State Street Corp now owns 3,318,905 shares of the company’s stock valued at $23,763,000 after purchasing an additional 537,215 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Evolv Technologies by 88.3% during the 3rd quarter. Two Sigma Investments LP now owns 2,788,704 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,307,955 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Evolv Technologies Company Profile

(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.

The company’s flagship product, Evolv Express, integrates seamlessly into existing security checkpoints, allowing guests to pass through without stopping or emptying their pockets.