Evolv Technologies (EVLV) Q4 2024 earnings summary

Executive summary

• Completed restatement of financials, regaining SEC and NASDAQ compliance; resolved FTC investigation.

• Achieved positive Adjusted EBITDA of $0.4M in Q4 2024, six months ahead of profitability goals.

• Focused on disciplined execution, transparency, and compliance for future growth.

Financial highlights

• Q4 2024 revenue was $29.1M, up 41% year-over-year; full-year 2024 revenue reached $103.9M, up 31%.

• Q4 2024 net loss was $(15.7)M, improved from $(17.2)M in Q4 2023; full-year net loss was $(54.0)M, improved from $(108.0)M.

• Q4 2024 Adjusted EBITDA was $0.4M, up from $(10.3)M; full-year Adjusted EBITDA was $(21.0)M, improved from $(51.8)M.

• Q4 2024 Adjusted loss was $(4.4)M, or $(0.03) per share; full-year Adjusted loss was $(35.3)M, or $(0.23) per share.

• Cash, equivalents, and marketable securities were $51.9M at year-end 2024, with no debt.

Outlook and guidance

• Management expects to leverage compliance and profitability momentum for the next phase of growth.

• Forward-looking statements highlight focus on recurring revenue and innovation in security technology.