Evolv Tech raises FY 2023 outlook; discloses FTC inquiry into marketing practices

Evolv Technologies Holdings, Inc.

2023-Q3 EPS reported -$0.60 revenue$58,597,000

Preliminary Q3 revenue $19.3-19.8M, ARR $65.5-66.0M, gross margin 56-57%.
FY 2023 revenue guidance raised to $75-77M from $70-75M; adjusted EBITDA outlook improved to ($50-53M).
New distribution model accounted for ~30% of Q3 net additions; 70 new customers added.
FTC requested information about certain marketing practices; company says it is cooperating.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Evolv Technologies Holdings, Inc. reported the three months ended September 30, 2023 results: revenue Total revenues to range between $19.3 million to $19.8 million. Guidance raised.

Period: the three months ended September 30, 2023
Revenue: Total revenues to range between $19.3 million to $19.8 million
Guidance: raised
Result: preliminary results

Exact text from the filing

Results for the Third Quarter of 2023 Based on preliminary third quarter estimates which are subject to change, the Company currently expects: · Total revenues to range between $19.3 million to $19.8 million · Q3 ending ARR 1 to range between $65.5 million to $66.0 million · Q3 net additions to range between 620 to 625 · Gross margin to range between 56% to 57% ·

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Source: SEC EDGAR

accession 0001104659-23-108693

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