EVLV
Evolv Technologies Holdings, Inc.

Evolv Technologies Holdings, Inc.EVLV

Industrials · Security & Protection Services
4.56USD
+0.66%
Nov 08, 2026
EVLV overview ready
AI-Enabled Weapons Screening Systems for High-Throughput Venues
Evolv is a direct supplier of AI-enabled, sensor-based weapons-screening systems and related cloud analytics for venue ingress and security operations.
Theme not measured
Public Safety Technology has no leadership state this session.
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk….
Unremarkable fundamentals
Primary risk
Dependence on institutional security spending.
Market Nov 6Filing Jun 30Price action Nov 7Research Sep 18

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction3.4BusinessPerformance4.0BusinessQuality3.2Valuation3.5ThemeMomentum—Decelerating — Revenue is still growing (+34% YoY), but growth has slowed, down from +45%. Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Public Safety Technology — Public Safety Technology is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Industrials & Infrastructure, reads Improving (+8.8pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$825.9M
Avg Volume (60D)
2.2M
60 sessions
Revenue Growth YoY
+40.5%
FY2025 vs FY2024
Gross Margin
+49.9%
Trailing twelve months
Operating Margin
-20.8%
Trailing twelve months
Free Cash Flow Yield
-0.9%
Distance from 200DMA
-18.7%
Next Earnings
2026-11-10
P/E
N/M
EV / Sales
4.6x
Market metrics as of Nov 6, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Business Performance

Decelerating

Revenue is still growing (+34% YoY), but growth has slowed, down from +45%. Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthSlowing
+34%
$43.8M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +57%
  2. +32%
  3. +45%
  4. +34%
Earnings growthLoss narrowing
-$0.05
Diluted EPS -$0.05 vs -$0.25 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
-24.1%
+29.6 pp YoY · gross margin 50.2% (+0.3 pp)
Earnings improved more than operations did
The share count is rising

Business Quality

3.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; peers is the dissenting view. The published stance is held at fair because no positive free cash flow behind the low multiple.
Evolv Technologies Holdings, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Evolv is a direct supplier of AI-enabled, sensor-based weapons-screening systems and related cloud analytics for venue ingress and security operations. The story is still emerging, so the exposure is real but early.
Opportunity
Moderate opportunity
Institutional spending on high-throughput, lower-friction systems that detect weapons and threats at entrances to schools, healthcare facilities, workplaces, entertainment venues, and other public gathering locations.
Key risk
Dependence on institutional security spending.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Security & Protection Services
What they do

Evolv Technologies develops, manufactures, and sells AI-enabled security screening systems and related analytics software to detect weapons and threats at public venues and facilities.

How it earns

The company generates revenue primarily through product sales and recurring service contracts including software analytics subscriptions.

Products & services
Evolv Express weapon detection system
Evolv eXpedite autonomous bag screening system
Evolv Insights Analytics Application
Customers & end markets
Schools
Healthcare facilities
Workplaces
Entertainment venues
Public gathering locations
Market position

Evolv is a direct supplier and innovator in AI-enabled, sensor-based weapons screening systems, positioning it as a specialized technology provider in physical security.

Demand drivers
Medium cyclicality

Demand is influenced by institutional security budgets and public safety priorities, which can vary with economic and geopolitical conditions.