Evolv Technology reported strong first quarter 2025 results, with revenue increasing 44% year-over-year to $32.0 million and Annual Recurring Revenue (ARR) reaching $106.0 million, up 34%. The company significantly reduced its net loss to $(1.7) million and achieved positive Adjusted EBITDA of $1.7 million.
Total revenue for Q1 2025 was $32.0 million, a 44% increase compared to Q1 2024.
Ending Annual Recurring Revenue (ARR) was $106.0 million as of March 31, 2025, up 34% year-over-year.
Net loss for Q1 2025 was $(1.7) million, a significant improvement from $(11.3) million in Q1 2024.
Adjusted EBITDA for Q1 2025 was positive at $1.7 million, compared to $(10.4) million in Q1 2024.
For the full year 2025, Evolv Technology expects total revenues to be between $125 to $130 million, representing 20% to 25% growth over 2024. The company anticipates achieving positive full year Adjusted EBITDA with low to mid-single digit margins and expects positive free cash flow in the fourth quarter of 2025.
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