Earnings Releases·Nov 10, 2026, 4:08 PM ET

Evolv Technology — Third Quarter 2026 Earnings Summary

Q3 2026 revenue rose 10% year-over-year to $47.3 million, while the nine-month period saw a 28% increase to $137.4 million; however, net loss widened to $(15.6) million in Q3 from $(1.8) million the prior year, though Adjusted EBITDA declined slightly to $4.7 million (10.0% margin) from $5.1 million (12.0% margin).
Full-year 2026 guidance remains unchanged, projecting revenue of $182–$185 million (25–27% growth), Adjusted EBITDA of $15.5–$16.5 million, and year-end ARR between $148–$150 million, with management anticipating a 25% CAGR through 2031.
Recurring revenue strengthened to 69% of the total mix, driven by a 20% year-over-year increase in ARR to $140.5 million and a sequential rise in Remaining Performance Obligations (RPO) to $325.8 million.
The company reported $66.9 million in ending cash and $3.2 million in Q3 free cash flow, while noting a challenging prior-year comparison due to a one-time large contract and ongoing risks related to litigation and internal control remediation.