Evolv Technology (EVLV) Provides Business Update

Evolv Technology (NASDAQ: EVLV) (“Evolv” or the “Company”), a leading security technology company pioneering AI-based solutions designed to create safer experiences, today provided an update on select strategic metrics1 for the three-month period ended September 30, 2024.

During the third quarter of 2024, the Company:

• Surpassed 2 billion visitors screened since inception;
• Activated approximately 465 new multi-year subscriptions of Evolv Express;
• Added over 100 additional school buildings and now serves over 1,100 school buildings;
• Added over 30 additional hospital buildings and now serves over 400 hospital buildings;
• Added 3 more professional sports stadium customers across the National Hockey League and Major League Baseball; and
• Added 3 Fortune 500 customers and now serves 6 of the Fortune 50 and 11 of the Fortune 100.

Additionally, during the third quarter, Evolv Express was used to tag, on average, more than 500 firearms every day, and the Company’s technology was used to screen, on average, 3 million visitors per day.

“The fundamentals of our business remain strong,” said Michael Ellenbogen, Evolv’s Interim President and Chief Executive Officer, Chief Innovation Officer, member of the Board of Directors and Co-Founder. “During the third quarter, we saw solid demand for Evolv Express and our recently introduced solutions, Evolv eXpedite and Evolv Eva, and we continued to grow our customer base. We remain focused on delivering trusted security solutions for our 850 customers and the 1 billion visitors they welcome every year and to advancing our mission of making the world safer.”

1 Subject to completion of pending restatement effort as announced by the Company on October 25, 2024 (“The Board of Evolv Technology Determines that Certain Financial Statements Should Not Be Relied Upon”).

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