Evolv Technologies Holdings, Inc. (EVLV) Income Statement
EVLV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEVLV revenue and net income
Where EVLV's revenue goes
2025Each bar shows an amount and its share of revenue. EVLV kept −22.7% of revenue as net income.
EVLV profit margins
EVLV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +40.5% | +40.4% | +98.1% | — |
| Gross profit | +27.0% | +277.5% | +125.6% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EVLV quarterly EPS vs estimates
Evolv Technologies beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 10, 2026 (estimate $-0.06).
EVLV income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $145.9M | $103.9M | $80.4M | $52.7M | $23.4M | $4.8M | $5.8M |
| Cost of revenue | $70.6M | $44.6M | $46.6M | $51.3M | $19.4M | $3.5M | $5.3M |
| Gross profit | $75.3M | $59.3M | $33.8M | $1.4M | $4.0M | $1.3M | $552,000 |
| Research & development | $20.6M | $23.4M | $24.5M | $18.5M | $11.5M | $15.7M | $8.5M |
| Sales, general & admin | $100.5M | $117.9M | $97.3M | $84.7M | $44.7M | $12.5M | $10.5M |
| Total operating expenses | $120.1M | $141.6M | $122.1M | $104.3M | $57.4M | $28.2M | $19.0M |
| Operating income | −$44.8M | −$82.3M | −$88.3M | −$103.0M | −$53.4M | −$26.9M | −$18.4M |
| Interest income | $1.5M | $2.9M | $6.2M | $3.2M | $0 | — | — |
| Interest expense | $1.7M | $0 | $654,000 | $712,000 | $6.1M | $430,000 | $779,000 |
| Income before taxes | −$33.1M | −$54.0M | −$106.2M | −$86.8M | −$10.9M | −$27.4M | −$19.9M |
| Income taxes | $62,000 | — | $51,000 | −$43.2M | $13.1M | $430,000 | $779,000 |
| Net income | −$33.1M | −$54.0M | −$106.3M | −$86.8M | −$10.9M | −$27.4M | −$19.9M |
| EBITDA | −$7.0M | −$36.6M | −$95.6M | −$80.6M | −$1.9M | −$25.9M | −$18.5M |
| EPS (diluted) | −$0.09 | −$0.33 | −$0.37 | −$0.50 | −$0.96 | −$0.05 | — |
| Gross margin | 51.6% | 57.1% | 42.1% | 2.7% | 17.2% | 26.9% | 9.4% |
| Operating margin | −30.7% | −79.2% | −109.8% | −195.3% | −228.3% | −562.1% | −314.7% |
| Net margin | −22.7% | −52.0% | −132.1% | −164.6% | −46.5% | −572.5% | −339.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.8M | $46.3M | $38.5M | $42.9M | $32.5M | $32.0M | $29.1M | $27.4M | $25.5M | $22.2M | $21.8M | $20.2M |
| Cost of revenue | $21.8M | $22.5M | $19.9M | $21.5M | $16.3M | $12.9M | $12.4M | $11.6M | $11.1M | $10.0M | $11.6M | $8.8M |
| Gross profit | $22.0M | $23.8M | $18.6M | $21.3M | $16.2M | $19.1M | $16.7M | $15.8M | $14.5M | $12.2M | $10.3M | $11.4M |
| Research & development | $5.8M | $5.9M | $5.4M | $5.6M | $4.7M | $4.9M | $5.4M | $5.8M | $5.7M | $6.4M | $6.3M | $6.4M |
| Sales, general & admin | $26.7M | $13.5M | $21.2M | $22.0M | $20.9M | $26.0M | $30.2M | $24.0M | $31.1M | $25.4M | $25.9M | $25.2M |
| Total operating expenses | $32.5M | $30.9M | $26.6M | $27.6M | $33.7M | $33.5M | $48.0M | $41.4M | $36.8M | $34.1M | $32.2M | $31.6M |
| Operating income | −$10.6M | −$7.1M | −$8.0M | −$6.3M | −$17.5M | −$14.4M | −$18.9M | −$14.0M | −$22.3M | −$21.9M | −$21.9M | −$20.2M |
| Interest income | $488,000 | $515,000 | $487,000 | $436,000 | $224,000 | $389,000 | $548,000 | $628,000 | $681,000 | $1.1M | $1.6M | $1.8M |
| Interest expense | $965,000 | $962,000 | $1.0M | $713,000 | $0 | $1,000 | $0 | $0 | $0 | $0 | $1.3M | $0 |
| Income before taxes | −$9.3M | −$5.0M | $10.9M | −$1.8M | −$40.5M | −$1.6M | −$15.7M | −$30.4M | $3.5M | −$11.3M | −$16.8M | $6.0M |
| Income taxes | — | −$37,000 | — | — | −$1,000 | $63,000 | — | — | — | $3.4M | $51,000 | $2.2M |
| Net income | −$9.3M | −$5.0M | $10.9M | −$1.8M | −$40.5M | −$1.7M | −$15.7M | −$30.4M | $3.5M | −$11.3M | −$16.9M | $6.0M |
| EBITDA | −$1.2M | $2.7M | $18.4M | $5.5M | −$34.7M | $3.9M | — | — | $7.4M | −$7.8M | −$13.7M | $8.7M |
| EPS (diluted) | −$0.05 | −$0.03 | −$0.03 | −$0.02 | −$0.02 | −$0.02 | −$0.11 | −$0.07 | −$0.06 | −$0.09 | −$0.07 | −$0.08 |
| Gross margin | 50.2% | 51.4% | 48.4% | 49.7% | 49.8% | 59.8% | 57.5% | 57.8% | 56.7% | 54.8% | 47.0% | 56.4% |
| Operating margin | −24.1% | −15.3% | −20.7% | −14.7% | −53.8% | −45.0% | −64.8% | −51.3% | −87.4% | −98.8% | −100.4% | −100.2% |
| Net margin | −21.3% | −10.8% | 28.3% | −4.2% | −124.6% | −5.3% | −54.0% | −111.3% | 13.6% | −50.8% | −77.4% | 29.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EVLV's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EVLV financial results
In fiscal year 2025 (ended December 31, 2025), Evolv Technologies reported revenue of $145.9 million, up 40.5% from the year before. It had a net loss of $33.1 million, a net profit margin of −22.7%. Diluted earnings per share came to −$0.09. Over five years revenue grew at an average rate of 98.1% a year.
See the EVLV stock overview for the latest quote and news, or the EVLV chart for price history and technical indicators.
EVLV income statement FAQ
What is Evolv Technologies's annual revenue?
Evolv Technologies reported total revenue of $145.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 40.5% from $103.9 million the previous year.
Is Evolv Technologies profitable?
No. Evolv Technologies reported a net loss of $33.1 million in fiscal 2025, a net profit margin of −22.7%; its operating margin was −30.7%.
What is Evolv Technologies's gross margin?
Evolv Technologies's gross margin was 51.6% in fiscal 2025: for every $100 of revenue, Evolv Technologies kept $52 after the direct cost of its products and services.
How much does Evolv Technologies spend on research and development?
Evolv Technologies spent $20.6 million on research and development in fiscal 2025, 14.1% of revenue.
How fast is Evolv Technologies growing?
Revenue grew 98.1% a year on average over the last five fiscal years, from $4.8 million to $145.9 million.
What are Evolv Technologies's earnings per share?
Evolv Technologies earned $-0.09 per diluted share in fiscal 2025, compared with $-0.33 a year earlier.
When will Evolv Technologies report its next earnings?
Evolv Technologies is expected to report results for the quarter ending September 30, 2026 on November 10, 2026 after the market closes.
When does Evolv Technologies's fiscal year end?
Evolv Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.