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Jun 30, 2022
Evolv Q2 2022 Earnings Report
Reported strong second quarter results and reaffirmed outlook for 2022.
Key Takeaways
Evolv Technology reported a strong second quarter with a 94% increase in revenue year-over-year, driven by the addition of over 50 new customers and continued expansion in key markets. The company surpassed 1,100 Evolv Express systems deployed and $100 million in cumulative TCV bookings. They reaffirmed their full year growth plans for 2022.
Q2 Revenue reached $9.1 million, a 94% increase year-over-year.
Q2 Ending ARR was $20.9 million, up 181% year-over-year.
Q2 Ending RPO was $66.2 million, up 166% year-over-year.
Q2 Ending Evolv Express® subscriptions totaled 1,147, up 193% year-over-year
Evolv
Evolv
Evolv Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
The Company reaffirmed its business outlook for 2022. The Company's outlook is based on the current indications for its business, which may change at any time.
Positive Outlook
- Total Revenue: $29 million - $31 million
- Annual Recurring Revenue (ARR) at 12/31: $27 million - $28 million
- Adjusted EBITDA: ($65 million) - ($67 million)
- Cash and Cash Equivalents: $220 million - $230 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income