Evolv Tech internal investigation finds $4M–$6M premature revenue; CFO resigns, interim CFO appointed

Evolv Technologies Holdings, Inc.

Investigation found $4M–$6M net premature/incorrect revenue recognition through June 30, 2024; cash $56M, no debt.
CFO Mark Donohue resigned effective Nov 21; Board appointed Dave Rawden (AlixPartners) as Interim CFO.
Four other employees terminated or resigned from sales, accounting, and finance departments.
Company expects additional material weaknesses in internal controls; SEC and DOJ investigations ongoing.

item 5.02 item 8.01 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Dave Rawden

Interim Chief Financial Officer

EVLV · Evolv Technologies Holdings, Inc.

Effective: 2024-11-21
Filed: November 21, 2024, 6:59 PM ET

On such date, the Company’s board of directors (the “Board”) also appointed Dave Rawden from AlixPartners LLP (“AlixPartners”), a leading global business advisory firm, as Interim Chief Financial Officer, and designated him as principal financial officer and principal accounting officer.

Departed

Mark Donohue

Chief Financial Officer

EVLV · Evolv Technologies Holdings, Inc.

Effective: 2024-11-21
Successor: Dave Rawden
Filed: November 21, 2024, 6:59 PM ET

On November 20, 2024, Mark Donohue, the Chief Financial Officer and principal financial officer and principal accounting officer of Evolv Technologies Holdings, Inc. (the “Company”), resigned effective November 21, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dave Rawden was appointed as Interim Chief Financial Officer at Evolv Technologies Holdings, Inc..

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On such date, the Company’s board of directors (the “Board”) also appointed Dave Rawden from AlixPartners LLP (“AlixPartners”), a leading global business advisory firm, as Interim Chief Financial Officer, and designated him as principal financial officer and principal accounting officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Donohue resigned as Chief Financial Officer at Evolv Technologies Holdings, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On November 20, 2024, Mark Donohue, the Chief Financial Officer and principal financial officer and principal accounting officer of Evolv Technologies Holdings, Inc. (the “Company”), resigned effective November 21, 2024.

View on SEC.gov

Evolv Technologies Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-121349

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