Evolv Technologies Holdings Inc., a security technology company specializing in AI-based solutions, announced its financial results for the first quarter of 2025. The company reported total revenue of $32.0 million, marking a significant increase of 44% compared to $22.2 million in the first quarter of 2024. The Annual Recurring Revenue $(ARR)$ also rose to $106.0 million, a 34% increase from $79.2 million at the end of the first quarter of 2024. The net loss for the first quarter of 2025 was $1.7 million, a notable improvement from the net loss of $11.3 million in the same period of the previous year. The Adjusted EBITDA for the first quarter of 2025 was $1.7 million, compared to a loss of $10.4 million in the first quarter of 2024. The company maintained a cash position of $35.0 million with no debt as of March 31, 2025. Evolv Technologies expects to achieve positive full-year Adjusted EBITDA in 2025, with margins in the low to mid-single digits, and anticipates generating positive free cash flow in the fourth quarter of 2025. The company surpassed 6,600 total subscriptions, reflecting its continued growth and operational progress.
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