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Evolv Technologies (EVLV) Revenue & Revenue Breakdown

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Evolv Technologies Revenue Highlights

Latest Revenue (Y)

$80.42M

Latest Revenue (Q)

$25.54M

Main Segment (Y)

Subscription and Circulation

Main Geography (Y)

UNITED STATES

Evolv Technologies Revenue by Period

Evolv Technologies Revenue by Year

DateRevenueChange
2023-12-31$80.42M45.70%
2022-12-31$55.20M132.97%
2021-12-31$23.69M395.13%
2020-12-31$4.79M-18.15%
2019-12-31$5.85M-

Evolv Technologies generated $80.42M in revenue during NA 2023, up 45.70% compared to the previous quarter, and up 0.00% compared to the same period a year ago.

Evolv Technologies Revenue by Quarter

DateRevenueChange
2024-06-30$25.54M17.87%
2024-03-31$21.67M-0.70%
2023-12-31$21.82M8.07%
2023-09-30$20.19M1.85%
2023-06-30$19.82M6.70%
2023-03-31$18.58M-11.03%
2022-12-31$20.89M26.35%
2022-09-30$16.53M82.25%
2022-06-30$9.07M4.07%
2022-03-31$8.71M27.30%
2021-12-31$6.85M-18.18%
2021-09-30$8.37M86.76%
2021-06-30$4.48M12.03%
2021-03-31$4.00M96.51%
2020-12-31$2.04M39.29%
2020-09-30$1.46M125.12%
2020-06-30$649.00K-

Evolv Technologies generated $25.54M in revenue during Q2 2024, up 17.87% compared to the previous quarter, and up 137.45% compared to the same period a year ago.

Evolv Technologies Revenue Breakdown

Evolv Technologies Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21
Product$26.67M$31.98M-
Subscription and Circulation$172.27M$17.57M-
Service$67.10M$5.64M-
Professional Services-$976.00K-
Leased Equipment-$17.57M-
Product revenue--$68.00K
Subscription revenue.--$25.07M
Maintenance revenue--$2.51M
Service revenue.--$22.00K

Evolv Technologies's latest annual revenue breakdown by segment (product or service), as of Dec 23: Subscription and Circulation (64.75%), Service (25.22%), and Product (10.02%).

Quarterly Revenue by Product

Product/ServiceMar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21
Service$66.06M$59.12M$4.62M$3.36M$2.72M$1.49M$918.00K$24.00K--
Subscription and Circulation$186.57M$157.84M$7.96M$6.47M$5.36M$5.20M$4.01M---
Product$2.78M$10.67M$7.24M$8.75M$12.81M$9.84M$4.15M$36.00K--
Leased Equipment---$6.47M$5.36M$5.20M$4.01M$3.02M--
Professional Services---$583.00K$330.00K$313.00K$189.00K$148.00K--
SaaS and Maintenance Services-----$1.18M$729.00K$353.00K--
Product revenue-------$5.19M--
Subscription revenue.--------$2.74M-
Maintenance---------$1.97M
Subscription And Circulation---------$21.80M

Evolv Technologies's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Subscription and Circulation (73.05%), Service (25.87%), and Product (1.09%).

Evolv Technologies Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 23Dec 22
Non-US$1.86M$1.38M
UNITED STATES$78.56M$53.81M

Evolv Technologies's latest annual revenue breakdown by geography, as of Dec 23: UNITED STATES (97.68%), and Non-US (2.32%).

Evolv Technologies Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
ADTADT$4.98B$1.22B
CXWCoreCivic$1.90B$491.56M
MGMistras Group$705.47M$182.69M
NLNL Industries$161.29M$35.89M
EVLVEvolv Technologies$80.42M$25.54M
BAERBridger Aerospace Group$66.71M$64.51M
KSCPKnightscope$12.80M$3.20M
LGMKLogicMark$9.93M$2.61M
IVDAIveda Solutions$6.50M$1.53M

EVLV Revenue FAQ

What is Evolv Technologies’s yearly revenue?

Evolv Technologies's yearly revenue for 2023 was $80.42M, representing an increase of 45.70% compared to 2022. The company's yearly revenue for 2022 was $55.2M, representing an increase of 132.97% compared to 2021. EVLV's yearly revenue for 2021 was $23.69M, representing an increase of 395.13% compared to 2020.

What is Evolv Technologies’s quarterly revenue?

Evolv Technologies's quarterly revenue for Q2 2024 was $25.54M, a 17.87% increase from the previous quarter (Q1 2024), and a 28.83% increase year-over-year (Q2 2023). The company's quarterly revenue for Q1 2024 was $21.67M, a -0.70% decrease from the previous quarter (Q4 2023), and a 16.61% increase year-over-year (Q1 2023). EVLV's quarterly revenue for Q4 2023 was $21.82M, a 8.07% increase from the previous quarter (Q3 2023), and a 4.48% increase year-over-year (Q4 2022).

What is Evolv Technologies’s revenue growth rate?

Evolv Technologies's revenue growth rate for the last 3 years (2021-2023) was 239.43%, and for the last 5 years (2019-2023) was 1275.61%.

What are Evolv Technologies’s revenue streams?

Evolv Technologies's revenue streams in c 23 are Product, Subscription and Circulation, and Service. Product generated $26.67M in revenue, accounting 10.02% of the company's total revenue, down -16.63% year-over-year. Subscription and Circulation generated $172.27M in revenue, accounting 64.75% of the company's total revenue, up 880.55% year-over-year. Service generated $67.1M in revenue, accounting 25.22% of the company's total revenue, up 1089.52% year-over-year.

What is Evolv Technologies’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Evolv Technologies was Subscription and Circulation. This segment made a revenue of $172.27M, representing 64.75% of the company's total revenue.