Evolv Technologies Holdings, Inc. (EVLV) Balance Sheet
EVLV balance sheet, 2025
December 31, 2025 · U.S. dollars$304.4M assets = $185.0M liabilities + $119.4M equity
Both columns are drawn to the same scale: what EVLV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EVLV financial health
Descriptive bands, not a rating. Fiscal 2025.
EVLV balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $24.4M2019 | $304.4M2025 | +52.3%/yr | |
| Total liabilities | $82.9M2019 | $185.0M2025 | +14.3%/yr | |
| Shareholders’ equity | −$58.5M2019 | $119.4M2025 | — | |
| Cash & short-term investments | $17.3M2019 | $69.0M2025 | +25.9%/yr | |
| Total debt | $3.6M2019 | $42.2M2025 | +50.4%/yr | |
| Net cash (debt) | $13.7M2019 | $26.8M2025 | +$13.1M | |
| Working capital | $11.0M2019 | $28.3M2025 | +$17.4M | |
| Book value per share | −$0.412019 | $0.712025 | — | |
| Current ratio | 2.182019 | 1.232025 | −0.95 | |
| Debt / equity | 0.032021 | 0.352025 | +0.32 | |
| Shares outstanding | 142.3M2019 | 168.4M2025 | +2.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EVLV assets
EVLV liabilities and equity
EVLV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EVLV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $69.0M | $51.9M | $118.8M | $230.1M | $307.7M | $4.7M | $17.3M |
| Cash & equivalents | $49.1M | $37.0M | $67.2M | $229.8M | $307.5M | $4.7M | $17.3M |
| Short-term investments | $19.9M | $14.9M | $51.7M | $337,000 | $206,000 | — | — |
| Receivables | $47.1M | $29.2M | $26.3M | $34.8M | $7.9M | $1.4M | $984,000 |
| Inventory | $9.3M | $17.0M | $9.5M | $10.3M | $2.9M | $2.7M | $1.4M |
| Other current assets | $25.9M | $23.4M | $21.2M | $17.4M | $12.6M | $1.5M | $625,000 |
| Total current assets | $151.3M | $121.4M | $175.8M | $292.6M | $331.1M | $10.3M | $20.3M |
| Property, plant & equipment (net) | $139.8M | $137.7M | $114.1M | $46.4M | $23.8M | $9.3M | $3.7M |
| Goodwill & intangible assets | $0 | $0 | $7.0M | $3.5M | $1.1M | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $13.3M | $9.0M | $1.8M | $5.7M | $6.9M | $1.7M | $407,000 |
| Total assets | $304.4M | $268.1M | $298.7M | $348.1M | $362.9M | $21.4M | $24.4M |
| Liabilities | |||||||
| Accounts payable | $9.8M | $10.5M | $17.4M | $18.2M | $6.0M | $4.4M | $2.5M |
| Short-term debt | $3.0M | $13.3M | $1.4M | $11.1M | $2.0M | $227,000 | $3.6M |
| Deferred revenue | $74.9M | $64.5M | $47.7M | $18.3M | $6.6M | $3.7M | $1.5M |
| Total current liabilities | $123.0M | $96.7M | $82.0M | $59.1M | $24.3M | $12.1M | $9.3M |
| Long-term debt | $28.6M | $0 | $0 | $19.7M | $7.9M | $21.5M | $0 |
| Lease obligations | $13.6M | $14.5M | $1.4M | $2.0M | $0 | $227,000 | $227,000 |
| Other long-term liabilities | $33.4M | $53.7M | $70.4M | $42.3M | $40.3M | $72.4M | $73.6M |
| Total liabilities | $185.0M | $150.4M | $152.4M | $121.1M | $72.6M | $106.0M | $82.9M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $18,000 | $16,000 | $15,000 | $15,000 | $14,000 | $26,000 | $23,000 |
| Retained earnings (deficit) | −$387.8M | −$354.7M | −$298.5M | −$192.2M | −$105.8M | −$93.9M | −$66.5M |
| Accumulated other comprehensive income | −$141,000 | −$32,000 | −$53,000 | −$10,000 | −$363.1M | −$75.9M | −$72.9M |
| Total shareholders' equity | $119.4M | $117.7M | $146.3M | $227.0M | $290.3M | −$84.7M | −$58.5M |
| Key figures | |||||||
| Total debt | $42.2M | $25.6M | $1.4M | $31.7M | $9.9M | $21.7M | $3.6M |
| Net cash (debt) | $26.8M | $26.3M | $117.4M | $198.4M | $297.8M | −$17.0M | $13.7M |
| Working capital | $28.3M | $24.7M | $93.8M | $233.5M | $306.8M | −$1.8M | $11.0M |
| Tangible book value | $119.4M | $117.7M | $139.3M | $223.5M | $289.2M | −$84.7M | −$58.5M |
| Book value per share | $0.71 | $0.75 | $0.98 | $1.58 | $1.90 | — | −$0.41 |
| Shares outstanding | 168.4M | 156.6M | 149.2M | 143.9M | 152.4M | — | 142.3M |
| Current ratio | 1.23 | 1.26 | 2.14 | 4.95 | 13.61 | 0.85 | 2.18 |
| Quick ratio | 0.94 | 0.84 | 1.77 | 4.48 | 12.97 | 0.50 | 1.96 |
| Debt / equity | 0.35 | 0.22 | 0.01 | 0.14 | 0.03 | — | — |
| Equity / assets | 39.2% | 43.9% | 49.0% | 65.2% | 80.0% | −396.6% | −239.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $62.6M | $61.1M | $69.0M | $56.2M | $36.9M | $35.0M | $51.9M | $56.0M | $56.5M | $81.0M | $118.8M | $139.1M |
| Cash & equivalents | $52.7M | $56.1M | $49.1M | $31.5M | $36.9M | $25.1M | $37.0M | $46.0M | $35.7M | $44.6M | $67.2M | $99.6M |
| Short-term investments | $9.9M | $5.0M | $19.9M | $24.7M | $0 | $9.9M | $14.9M | $10.0M | $20.8M | $36.4M | $51.7M | $39.5M |
| Receivables | $39.6M | $43.9M | $47.1M | $50.1M | $42.6M | $35.4M | $28.4M | $34.9M | $38.1M | $24.6M | $26.3M | $33.5M |
| Inventory | $8.7M | $8.3M | $9.3M | $8.8M | $12.1M | $10.1M | $17.0M | $16.3M | $18.6M | $11.0M | $9.5M | $7.8M |
| Other current assets | $38.5M | $38.7M | $25.9M | $36.5M | $41.3M | $23.3M | $24.1M | $27.3M | $24.7M | $25.2M | $21.2M | $21.4M |
| Total current assets | $149.4M | $152.0M | $151.3M | $151.6M | $133.1M | $103.8M | $121.4M | $134.4M | $137.9M | $141.8M | $175.8M | $201.8M |
| Property, plant & equipment (net) | $140.4M | $139.7M | $139.8M | $139.6M | $138.6M | $143.2M | $137.7M | $135.1M | $122.2M | $131.9M | $114.1M | $95.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7.0M | $5.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $12.2M | $12.9M | $13.3M | $13.0M | $8.7M | $9.0M | $9.0M | $8.9M | $8.4M | $8.6M | $1.8M | $3.4M |
| Total assets | $302.0M | $304.6M | $304.4M | $304.3M | $280.4M | $256.0M | $268.1M | $278.5M | $268.5M | $282.3M | $298.7M | $306.5M |
| Liabilities | ||||||||||||
| Accounts payable | $12.3M | $17.1M | $9.8M | $4.7M | $11.8M | $7.1M | $10.5M | $8.6M | $5.6M | $15.6M | $17.4M | $13.9M |
| Short-term debt | $3.1M | $3.1M | $3.0M | $2.8M | $2.7M | $2.4M | — | — | $1.8M | $1.7M | $1.4M | $1.7M |
| Deferred revenue | $74.5M | $75.3M | $74.9M | $77.9M | $72.2M | $65.5M | — | — | $56.2M | $48.9M | $47.7M | $53.0M |
| Total current liabilities | $126.8M | $125.9M | $123.0M | $119.3M | $142.9M | $94.4M | $96.7M | $89.5M | $79.4M | $79.9M | $82.0M | $80.7M |
| Long-term debt | $28.7M | $28.7M | $28.6M | $28.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $12.8M | $13.3M | $13.6M | $13.9M | $14.3M | $14.4M | $14.5M | $14.6M | $2.3M | $2.7M | $1.4M | $1.8M |
| Other long-term liabilities | $27.6M | $29.4M | $33.4M | $54.2M | $44.9M | $40.5M | $53.7M | $60.0M | $36.0M | $60.7M | $70.4M | $69.6M |
| Total liabilities | $183.2M | $184.0M | $185.0M | $202.1M | $187.8M | $134.9M | $150.4M | $149.5M | $115.4M | $140.7M | $152.4M | $150.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $18,000 | $410,000 | $18,000 | $17,000 | $17,000 | $16,000 | — | — | $16,000 | $16,000 | $15,000 | $15,000 |
| Retained earnings (deficit) | −$402.1M | −$392.8M | −$387.8M | −$398.7M | −$396.9M | −$356.4M | −$354.7M | −$338.9M | −$306.6M | −$310.1M | −$298.5M | −$281.6M |
| Accumulated other comprehensive income | −$113,000 | −$113,000 | −$141,000 | −$137,000 | −$163,000 | −$78,000 | — | — | −$42,000 | −$50,000 | −$53,000 | −$9,000 |
| Total shareholders' equity | $118.9M | $120.7M | $119.4M | $102.2M | $92.7M | $121.1M | $117.7M | $129.0M | $153.1M | $141.6M | $146.3M | $156.1M |
| Key figures | ||||||||||||
| Total debt | $41.6M | $42.0M | $42.2M | $42.4M | $14.3M | $14.4M | — | — | $2.3M | $2.7M | $1.4M | $1.8M |
| Net cash (debt) | $21.1M | $19.1M | $26.8M | $13.8M | $22.7M | $20.6M | — | — | $54.1M | $78.3M | $117.4M | $137.3M |
| Working capital | $22.6M | $26.1M | $28.3M | $32.3M | −$9.8M | $9.4M | $24.7M | $44.9M | $58.5M | $61.9M | $93.8M | $121.0M |
| Tangible book value | $118.9M | $120.7M | $119.4M | $102.2M | $92.7M | $121.1M | $117.7M | $129.0M | $153.1M | $141.6M | $139.3M | $150.4M |
| Book value per share | $0.66 | $0.68 | $0.63 | $0.59 | $0.56 | $0.75 | $0.74 | $0.81 | $0.89 | $0.92 | $0.97 | $0.90 |
| Shares outstanding | 180.1M | 177.1M | 189.1M | 172.8M | 165.3M | 160.8M | 159.6M | 158.3M | 171.6M | 153.1M | 151.1M | 174.0M |
| Current ratio | 1.18 | 1.21 | 1.23 | 1.27 | 0.93 | 1.10 | 1.26 | 1.50 | 1.74 | 1.77 | 2.14 | 2.50 |
| Quick ratio | 0.81 | 0.83 | 0.94 | 0.89 | 0.56 | 0.75 | 0.83 | 1.02 | 1.19 | 1.32 | 1.77 | 2.14 |
| Debt / equity | 0.35 | 0.35 | 0.35 | 0.41 | 0.15 | 0.12 | — | — | 0.02 | 0.02 | 0.01 | 0.01 |
| Equity / assets | 39.4% | 39.6% | 39.2% | 33.6% | 33.0% | 47.3% | 43.9% | 46.3% | 57.0% | 50.2% | 49.0% | 50.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 10, 2026); data from EODHD.
EVLV financial position
At the end of fiscal 2025 (December 31, 2025), Evolv Technologies had total assets of $304.4 million (up 13.6% from a year earlier), total liabilities of $185.0 million and shareholders' equity of $119.4 million. It held $69.0 million in cash and short-term investments against $42.2 million of debt, a net cash position of $26.8 million. Its current ratio was 1.23. In the latest quarter (ended June 30, 2026) total assets were $302.0 million and equity $118.9 million.
Related: EVLV income statement, EVLV cash flow statement, EVLV key metrics. See the EVLV stock overview for the latest quote and news.
EVLV balance sheet FAQ
What are Evolv Technologies's total assets?
Evolv Technologies reported total assets of $304.4 million at the end of fiscal 2025 (December 31, 2025), compared with $268.1 million a year earlier.
How much debt does Evolv Technologies have?
Evolv Technologies had $42.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.35.
How much cash does Evolv Technologies have?
Evolv Technologies held $69.0 million in cash and short-term investments at the end of fiscal 2025; with $42.2 million of debt that is net cash of $26.8 million.
What is Evolv Technologies's book value?
Evolv Technologies's shareholders' equity (book value) was $119.4 million at the end of fiscal 2025, or $0.71 per share.
What is Evolv Technologies's current ratio?
Evolv Technologies had current assets of $151.3 million and current liabilities of $123.0 million, a current ratio of 1.23 (it can cover its short-term obligations).