Revenue: As of FY2026 Q1, the actual value is USD 46.33 M.

EPS: As of FY2026 Q1, the actual value is USD -0.03.

EBIT: As of FY2026 Q1, the actual value is USD -8.025 M.

Financial and Operational Metrics (Three Months Ended March 31, 2026, unless otherwise specified)

Segment Revenue

• Total Revenue: $46,328 thousand, a 45% increase from $32,007 thousand in Q1 2025.
  • Recurring Revenue: $31,176 thousand, up 21% from $25,753 thousand in Q1 2025.
  • Non-recurring Revenue: $15,152 thousand, up 142% from $6,254 thousand in Q1 2025.
• Revenue Breakdown by Type (Q1 2026):
  • Product revenue: $13,421 thousand.
  • Subscription revenue: $23,148 thousand.
  • Service revenue: $8,589 thousand.
  • License fee and other revenue: $1,170 thousand.
• Revenue Breakdown by Type (Q1 2025):
  • Product revenue: $2,322 thousand.
  • Subscription revenue: $19,237 thousand.
  • Service revenue: $6,730 thousand.
  • License fee and other revenue: $3,718 thousand.

Operational Metrics

• Net Loss: - $5,009 thousand, compared to a net loss of - $1,689 thousand in Q1 2025.
• Net Profit Margin: -10.8%.
• Adjusted EBITDA: $3,944 thousand, compared to $2,064 thousand in Q1 2025.
• Adjusted EBITDA Margin: 8.5%.
• Gross Profit (GAAP): $23,599 thousand, compared to $19,150 thousand in Q1 2025.
• Gross Margin (GAAP): 50.9%, compared to 59.8% in Q1 2025.
• Adjusted Gross Profit: $24,075 thousand, compared to $19,472 thousand in Q1 2025.
• Adjusted Gross Margin: 52.0%, compared to 60.8% in Q1 2025.
• Total Operating Expenses (GAAP): $32,071 thousand, compared to $33,539 thousand in Q1 2025.
  • Research and development: $5,885 thousand.
  • Sales and marketing: $12,671 thousand.
  • General and administrative: $13,515 thousand.
  • Restructuring costs: $0 thousand in Q1 2026 vs $2,662 thousand in Q1 2025.
• Loss from Operations (GAAP): - $8,472 thousand, compared to - $14,389 thousand in Q1 2025.
• Adjusted Loss from Operations: - $2,823 thousand, compared to - $3,709 thousand in Q1 2025.

Cash Flow

• Net Cash Used in Operating Activities: - $3,179 thousand, compared to - $2,539 thousand in Q1 2025.
• Net Cash Provided by (Used in) Investing Activities: $9,760 thousand, compared to - $9,361 thousand in Q1 2025.
• Net Cash Provided by Financing Activities: $322 thousand, compared to $20 thousand in Q1 2025.
• Free Cash Flow: Not explicitly provided in the reference.

Unique Metrics

• Ending Annual Recurring Revenue (ARR): $127,300 thousand as of March 31, 2026, up 20% from $106,000 thousand as of March 31, 2025.
• New Customers: 48 in Q1 2026, compared to 54 in Q1 2025.
• Cash, Cash Equivalents and Marketable Securities: $61,073 thousand as of March 31, 2026.

Outlook / Guidance for 2026

Evolv Technology anticipates total revenues for 2026 to be between $175 million to $180 million, reflecting a year-over-year growth of approximately 20% to 23%. The company expects ending ARR by December 31, 2026, to increase to approximately $145 million to $150 million, representing a 20% to 25% year-over-year growth. Evolv Technology also projects positive full-year Adjusted EBITDA with high single-digit Adjusted EBITDA margins for 2026.