Evolv Technology (EVLV) Provides Preliminary Update for First Quarter of 2025

Evolv Technologies Holdings, Inc (NASDAQ: EVLV), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today provided an update on its preliminary financial results for the first quarter of 2025 as well as its upcoming plans to file its related Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

Company Provides Preliminary Update for First Quarter of 2025

The Company today provided an update on preliminary results for the first quarter of 2025. Based on preliminary estimates which are subject to change, the Company expects total revenue to be between approximately $31.0 million and $32.0 million, compared to total revenue of $22.2 million in the first quarter of 2024. The Company expects less than $0.1 million of revenue to be related to the restatement previously completed by the Company. As previously disclosed, as of March 31, 2025, the Company had total cash, cash equivalents, and marketable securities of $35 million, with no outstanding debt. The Company will release final financial results for the first quarter of 2025 on Tuesday, May 20, 2025, after the market closes. Members of the Company’s management team plan to host a live webcast at 4:30 p.m. Eastern Time on that day to discuss the financial results as well as management’s outlook for the business. The conference call will be webcast live at http://ir.evolvtechnology.com.

Company Continues to Maintain Full Compliance with SEC Reporting and NASDAQ Listing Requirements

The Company will file a Form 12b-25, Notification of Late Filing, with the SEC for its Quarterly Report on Form 10-Q for the period ended March 31, 2025 (“Q1 2025 Form 10-Q”) to provide for additional time to complete and file the Company’s financial statements. Given the demands on management’s time that were required to complete the recently filed Annual Report on Form 10-K for 2024 and the Quarterly Report on Form 10-Q for the period ended September 30, 2024, the Company requires additional time to complete its financial statements and other disclosures in the Q1 2025 Form 10-Q. The Company expects to file the Q1 2025 Form 10-Q within the extension period of five calendar days as provided for under Rule 12b-25 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

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