Evolv Technologies Holdings, Inc. reported second-quarter revenue of $43.8 million [1], marking a 34% increase compared to the same period last year [2].
The growth indicates a broadening market adoption of the company's weapons detection platforms as more organizations integrate automated security screening into their facilities.
President and CEO John Kedzierski said the company delivered $43.8 million in revenue for the quarter, a 34% increase year over year [3]. The company added 70 new customers during the second quarter [10].
Financial metrics for the quarter ended June 30, 2026, showed an adjusted gross margin of 51% [5]. Adjusted operating expenses were $25 million [6], which represents a 16% increase year over year [7].
Recurring revenue also saw an upward trend. An unnamed Chief Financial Officer said annual recurring revenue reached $132.7 million [3], an increase of 20% year over year [4].
Based on these results, the company updated its outlook for the remainder of the year. Kedzierski said the firm is on track to achieve between $180 million and $185 million in revenue for 2026 [8]. He said the company expects to deploy over 10,000 units by the end of the year [9].
The earnings call, held on Aug. 11, focused on the company's operational progress and the expansion of its security platform footprint [1].
“"We delivered $43.8 million in revenue for the quarter, a 34% increase year over year."”
The combination of a 34% revenue jump and a 20% increase in annual recurring revenue suggests Evolv is successfully transitioning from one-time hardware sales to a more sustainable subscription-based model. By raising its full-year guidance and targeting 10,000 deployed units, the company is signaling strong demand for AI-driven security screening in an environment of increasing public safety concerns.
