Evolv Technologies Holdings, Inc. (EVLV) AI Stock Analysis

Evolv Technologies Holdings, Inc. specializes in artificial intelligence-based touchless security screening systems. Based in Waltham, Massachusetts, its flagship product is Evolv Express, which detects firearms, improvised explosive devices, and tactical knives as people walk through at a normal pace. The company also offers Evolv Insights, an analytics platform providing data on visitor flow, arrival curves, detection effectiveness, and alarm statistics. Additionally, its Evolv Edge system identifies non-metallic explosive devices, firearms, and tactical knives without requiring visitors to empty their pockets. Its systems are deployed across government facilities, entertainment venues, transportation hubs, and corporate campuses.

Revenue increased from $23.4M in FY2021 to $145.9M in FY2025, representing a 5-year revenue CAGR of 98.1% from FY2020 to FY2025. In FY2025, revenue grew 40.5% year-over-year, gross margin reached 51.6%, and operating margin improved to -30.7% from -79.2% in FY2024. Net income was -$33.1M in FY2025 compared to -$54.0M in FY2024. For the trailing twelve months ended June 30, 2026, revenue totaled $171.4M with an operating margin of -21.4% and net income yielding an EPS of -$0.03. In the latest quarter ended June 30, 2026, quarterly revenue grew 34.4% year-over-year.

As of June 30, 2026, Evolv held $62.6M in cash and short-term investments and $41.6M in total debt, resulting in net cash of $21.1M. The company reported a current ratio of 1.18 and a debt-to-equity ratio of 0.35, with shareholders' equity at $118.9M. In FY2025, operating cash flow turned positive at $18.7M, while capital expenditures were $31.4M, resulting in free cash flow of -$12.7M. Over the last 5 years, share count increased by 11.2%.

EVLV closed at $4.16 on October 16, 2026, giving it a market capitalization of $748.3M and an enterprise value of $864.6M. The stock trades at a forward P/E of 43.3x, compared to the median of 17.2x for US-listed Industrials peers. Its price-to-sales multiple is 4.4x versus the peer median of 1.5x, and EV-to-EBITDA is 34.1x versus the peer median of 13.9x. EVLV's 1-year return is -48.5%, trailing the S&P 500 (SPY) return of 16.8%.

Consensus ratings include 5 Strong Buy recommendations and no Buy, Hold, Sell, or Strong Sell ratings. The mean price target is $9.85, which is 136.8% above the last close of $4.16. For the current fiscal year ending December 31, 2026, analysts estimate revenue of $182.4M and EPS of -$0.08. For the next fiscal year, 3 analysts project revenue of $218.9M, representing 20.0% growth, with EPS of -$0.04. The company beat EPS estimates in 2 of the last 4 quarters, and the next earnings date is November 10, 2026.

This page is an AI-written research summary of Evolv Technologies Holdings, Inc. (EVLV). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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