Evolv Q4 2023 Earnings Report
Key Takeaways
Evolv Technology reported a 4% increase in Q4 revenue year-over-year, reaching $21.8 million. The company's ARR grew by 120% to $75.0 million, and RPO increased by 66% to $240.5 million. Net loss decreased to $(16.9) million, or $(0.11) per share, compared to $(28.3) million, or $(0.20) per share in Q4 2022.
Q4 revenue reached $21.8 million, a 4% increase year-over-year.
ARR ended the quarter at $75.0 million, up 120% year-over-year.
RPO ended the quarter at $240.5 million, a 66% increase year-over-year.
Evolv Express subscriptions increased by 99% year-over-year, reaching 4,505.
Evolv
Evolv
Evolv Revenue by Segment
Forward Guidance
The company reaffirmed its outlook for 2024. Total revenue is expected to be ~$115 million. ARR at 12/31/24 is expected to be between $108-$112 million. Adjusted Gross Margin is expected to be ~60%. Adjusted EBITDA is expected to improve by 40%+
Revenue & Expenses
Visualization of income flow from segment revenue to net income