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Jun 30, 2024
Evolv Q2 2024 Earnings Report
Reported a year-over-year revenue increase and a shift from net loss to net income.
Key Takeaways
Evolv Technology reported a 29% increase in revenue compared to the same quarter last year, reaching $25.5 million. The company also achieved net income of $3.5 million, a significant improvement from the net loss of $(66.8) million in the second quarter of 2023.
Q2 revenue reached $25.5 million, a 29% increase year-over-year.
Ending ARR reached $88.9 million, a 64% increase year-over-year.
Ending RPO reached $262.9 million, a 33% increase year-over-year.
Evolv Express subscriptions reached 5,323, a 57% increase year-over-year.
Evolv
Evolv
Evolv Revenue by Segment
Forward Guidance
The company reaffirmed its business outlook for 2024.
Positive Outlook
- Total Revenue reaffirmed at ~$100 million.
- ARR at 12/31/24 reaffirmed at ~$100 million.
- Adjusted Gross Margin reaffirmed at ~60%.
- Adjusted EBITDA to improve by 40%+
Revenue & Expenses
Visualization of income flow from segment revenue to net income