Welcome to our dedicated page for Evolv Technologies Holdings news (Ticker: EVLV), a resource for investors and traders seeking the latest updates and insights on Evolv Technologies Holdings stock.
Evolv Technologies Holdings, Inc. (symbol: EVLV) is a pioneering company that leverages advanced technology to enhance public safety. Specializing in AI-based, touchless security screening systems, Evolv Technology develops innovative solutions that combine artificial intelligence software, cloud services, and state-of-the-art sensors. These systems are designed to detect potential threats such as dangerous weapons while ignoring harmless everyday items like cell phones, laptops, and keys.
Our products are utilized across various industries including casinos, industrial workplaces, schools, and ticketed venues, ensuring the safety and security of numerous public and private spaces. We primarily offer our products under a multi-year security-as-a-service subscription model, which not only delivers continuous value to our clients but also provides predictable revenue streams and opportunities for expansion and upsell.
Backed by notable investors such as Bill Gates, General Catalyst Partners, and Lux Capital, Evolv Technology is dedicated to addressing modern security and operational challenges through high-performance, cost-effective, and unobtrusive solutions. Our mission is to create products that significantly impact the safety of our communities and are easy to integrate into everyday operations.
Recent achievements include the development of new sensor technologies and enhancements to our AI algorithms, which have further improved the accuracy and efficiency of our security screening systems. We continue to work on several innovative projects aimed at expanding our product offerings and entering new markets.
Evolv Technology's commitment to innovation and safety makes it a significant player in the security technology industry, constantly pushing the boundaries to create safer environments for all.
Evolv Technologies Holdings (NASDAQ:EVLV), an AI-based security screening company, is facing a securities class action lawsuit for alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. On October 25, 2024, the company announced that financial statements from Q2 2022 to Q2 2024 should not be relied upon due to revenue recognition issues and misconduct involving extra-contractual terms with channel partners.
The stock price plummeted 40% from $4.10 to $2.47 following this announcement. A week later, CEO Peter George was terminated, causing another 8% stock drop to $2.15. The company has self-reported these issues to the SEC's Division of Enforcement. The deadline for investors to join the class action as lead plaintiff is December 31, 2024.
Evolv Technologies Holdings (NASDAQ:EVLV) faces a securities class action lawsuit for alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. On October 25, 2024, the AI-based security screening company announced that financial statements from Q2 2022 to Q2 2024 should not be relied upon due to revenue recognition issues and misconduct involving extra-contractual terms with channel partners.
The company's stock dropped approximately 40% from $4.10 to $2.47 following this announcement. A week later, CEO Peter George was terminated, causing another 8% stock decline to $2.15. Evolv has self-reported these issues to the SEC's Division of Enforcement. The deadline for investors to join the class action as lead plaintiff is December 31, 2024.
Evolv Technologies Holdings (NASDAQ:EVLV) faces a securities class action lawsuit regarding alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. On October 25, 2024, the AI-based security screening company announced that financial statements from Q2 2022 to Q2 2024 should not be relied upon due to revenue recognition issues and misconduct involving extra-contractual terms with channel partners.
The company's stock price dropped 40% from $4.10 to $2.47 following this announcement. A week later, CEO Peter George was terminated, leading to an additional 8% stock decline to $2.15. The company has self-reported these issues to the SEC's Division of Enforcement. The deadline for investors to join the class action as lead plaintiff is December 31, 2024.
Evolv Technologies Holdings (NASDAQ:EVLV) faces a securities class action lawsuit regarding alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. The company revealed that financial statements from Q2 2022 to Q2 2024 contained material misstatements affecting revenue recognition, including undisclosed extra-contractual terms with major channel partners.
On October 25, 2024, following this announcement, Evolv's stock price dropped 40% from $4.10 to $2.47. A week later, after the termination of CEO Peter George, the stock fell another 8% to $2.15. The company has self-reported these issues to the SEC's Division of Enforcement. The deadline for investors to apply as lead plaintiff is December 31, 2024.
Evolv Technology (NASDAQ: EVLV) has appointed John Kedzierski as its new Chief Executive Officer, President, and Board member, effective December 16, 2024. Kedzierski, who previously served on Evolv's Board from January 2022 to November 2023, brings over 23 years of experience from Motorola Solutions, where he most recently held the position of Senior Vice President of Global Enterprise Sales.
He succeeds Michael Ellenbogen, who has been serving as Interim President and CEO since October and will continue as the Company's Chief Innovation Officer and Board member. During his tenure at Motorola Solutions, Kedzierski led the Video Security and Access Control business, helping establish the company as a global leader in physical security.
Evolv Technologies Holdings (NASDAQ:EVLV) faces a securities class action lawsuit regarding alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. On October 25, 2024, the company revealed that financial statements from Q2 2022 to Q2 2024 contained material misstatements affecting revenue recognition, including undisclosed extra-contractual terms with major channel partners.
The stock price dropped 40% from $4.10 to $2.47 following this announcement. A week later, CEO Peter George was terminated, causing another 8% stock decline to $2.15. The company has self-reported these issues to the SEC's Division of Enforcement. The deadline for investors to join the class action as lead plaintiff is December 31, 2024.
Evolv Technologies Holdings (NASDAQ:EVLV) faces a securities class action lawsuit for alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. On October 25, 2024, the company revealed that financial statements from Q2 2022 to Q2 2024 contained material misstatements affecting revenue recognition, including undisclosed extra-contractual terms with a major channel partner. The stock plunged 40% to $2.47 following this announcement. A week later, CEO Peter George was terminated, causing another 8% stock drop to $2.15. The deadline for investors to join the class action is December 31, 2024.
A securities class action lawsuit has been filed against Evolv Technologies Holdings (NASDAQ:EVLV) covering investors who purchased shares between August 19, 2022, and October 30, 2024. The lawsuit alleges material misstatements in financial reporting. On October 25, 2024, Evolv announced that financial statements from Q2 2022 to Q2 2024 should not be relied upon due to revenue recognition issues and misconduct by company personnel. The stock dropped 40% on this news. A week later, CEO Peter George was terminated, causing another 8% stock decline. The lead plaintiff deadline is December 31, 2024.
Evolv Technology (NASDAQ: EVLV) has resolved the FTC inquiry regarding its prior marketing claims without admitting wrongdoing or monetary penalties. The resolution focuses on historical marketing materials and affects approximately 4% of the company's installed base. Key impacts include: about 237 Evolv Express units could be affected by cancellation rights, representing roughly $3.9 million in Annual Recurring Revenue and $10.5 million in Remaining Performance Obligation. The company will offer certain K-12 education customers (8% of total customers) a 60-day contract cancellation option. The FTC did not challenge the core effectiveness of Evolv's technology or its AI-based solutions.
A securities class action lawsuit has been filed against Evolv Technologies Holdings (NASDAQ:EVLV) for alleged material misstatements in financial statements between August 19, 2022, and October 30, 2024. The company revealed that sales transactions, including those with a major channel partner, had undisclosed extra-contractual terms. On October 25, 2024, following this announcement, Evolv's stock dropped 40% from $4.10 to $2.47. A week later, after the CEO's termination, the stock fell another 8% to $2.15. The company has self-reported these issues to the SEC's Enforcement Division. The deadline for investors to join the class action is December 31, 2024.
FAQ
What is the current stock price of Evolv Technologies Holdings (EVLV)?
What is the market cap of Evolv Technologies Holdings (EVLV)?
What does Evolv Technologies Holdings, Inc. specialize in?
What industries use Evolv Technology's products?
How does Evolv Technologies offer its security solutions?
Who are some of the notable investors backing Evolv Technologies?
What are the recent achievements of Evolv Technologies?
What is the mission of Evolv Technologies?
How does Evolv Technologies' AI-based system work?
What type of pricing model does Evolv Technologies use?
What sets Evolv Technologies apart from other security companies?
Why is Evolv Technologies considered a significant player in the security technology industry?
