What is the market's earnings forecast for Evolv Technologies next quarter?

What does Evolv Technologies do and what are its main business segments?

What were the key takeaways from Evolv Technologies's earnings call?

What is Evolv Technologies's latest dividend and current dividend yield?

What factors drove the changes in Evolv Technologies's revenue and profit?

What is the revenue and EPS growth rate for Evolv Technologies year over year?

What is Evolv Technologies's gross profit margin?

Did Evolv Technologies beat or miss consensus estimates last quarter?

- **Revenue Surge**: Q3 2025 revenue up 57% YoY to $42.9 million, driven by largest contract in company history and direct fulfillment model shift.
- **ARR Inflection**: ARR hits $117.2 million (+25% YoY), with 2026 ARR growth expected to outpace total revenue.
- **eXpedite Success**: New bag scanner added 12 customers in Q3, achieving 2% alert rate and 11/12 cross-sells with Express.
- **Financial Health**: Positive Q3 EBITDA ($5.1M, 12% margin), with full-year 2025 revenue guidance raised to $142-145 million.
- **2026 Vision**: $160-165 million revenue, >20% ARR growth, and strategic deferral of $5-10 million to build recurring streams.

**CEO Summary Section**
- **Revenue Growth**: Q3 2025 revenue of $42.9 million, up 57% YoY, driven by new customer wins (including the largest contract in company history) and expanded deployments. Excluding one-time benefits, normalized growth is ~30% YoY.
- **ARR Expansion**: Annual Recurring Revenue (ARR) reached $117.2 million, +25% YoY, with 2026 expected to mark an inflection point where ARR growth outpaces total revenue growth.
- **Product Momentum**: eXpedite, the autonomous bag screening solution, added 12 new customers in Q3, primarily in education. Early data shows a 2% alert rate, enhancing security efficiency.
- **Strategic Shifts**: Transition from legacy distribution to direct fulfillment model, capturing 100% of ARPU over 4-year subscriptions. This shift defers ~$5-10 million in 2026 revenue but creates long-term recurring streams.
- **Partnership**: New manufacturing partnership with Plexus to scale production and reduce costs over time.

**CFO Financial Commentary**
- **Financial Performance**: Q3 2025 adjusted EBITDA of $5.1 million (12% margin), up from -$3 million in Q3 2024. Full-year 2025 guidance updated to $142-145 million revenue (+37-40% YoY), with EBITDA margins in high single digits.
- **Gross Margin Dynamics**: Q3 gross margin 51%, down from 64% YoY due to direct fulfillment costs and eXpedite ramp-up. Expect 52-54% 2025 gross margin range.
- **Cash Flow**: Sequential cash increase to $56 million, driven by improved collections and a new credit facility.
- **2026 Outlook**: Revenue $160-165 million, ARR growth >20%, with focus on reducing one-time revenue and expanding recurring streams.

**Q&A Key Highlights**
- **Onetime Revenue Impact**: Largest contract contributed $3 million in Q3, with $5+ million expected for 2025. Legacy IP licenses (~$10 million 2025) will decline post-2025.
- **eXpedite Adoption**: 11/12 new eXpedite customers also purchased Express, with strong traction in education (12 new districts) and sports (Carolina Panthers, Buffalo Sabres).
- **Manufacturing Efficiency**: Plexus partnership to reduce COGS over time; eXpedite gross margin expected to improve in 2026.
- **Pipeline Strength**: >50% of bookings from existing customers, with healthy pipeline supporting 2026 unit growth targets.

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