Evolv Helps Target Center Deliver Winning Fan Experience

Rhea-AI Summary

Evolv Technology (NASDAQ: EVLV) has deployed its Evolv Express security screening system at Target Center, home of the Minnesota Timberwolves and Minnesota Lynx. The venue installed nine Express systems to screen visitors during all home games, concerts, and events. The system was immediately tested during record-setting crowds at the WNBA Finals. According to Target Center's General Manager David Feeley, the new system eliminates the need for guests to empty their belongings into security trays, improving entry speed while maintaining safety. Evolv Express is currently used by over 40 professional sports teams and 850 customers worldwide.

Positive

• Successful deployment at a major sports venue (Target Center)
• Immediate implementation during high-traffic WNBA Finals
• Partnership with ASM Global, a major venue management company
• Expanding presence in professional sports with 40+ team venues

Negative

• None.

Insights

Market Research Analyst

Target Center's adoption of Evolv Express represents a significant business expansion in the professional sports venue sector. The deployment at a major NBA/WNBA arena strengthens Evolv's market position, particularly through their strategic partnership with ASM Global. This installation adds to their impressive portfolio of over 40 professional sports teams and 850 customers worldwide.

The implementation during high-profile events like the WNBA Finals provides valuable proof of concept for other potential clients. While specific financial terms weren't disclosed, venue security contracts typically generate recurring revenue through maintenance, updates and service agreements. The partnership with ASM Global, managing hundreds of venues globally, creates a substantial pipeline for future growth opportunities.

Evolv Express^® Deployed at All Main Gates at Target Center in Minneapolis

WALTHAM, Mass.--(BUSINESS WIRE)-- Evolv Technology (NASDAQ: EVLV), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today announced that its Evolv Express system has been recently deployed at Target Center, home of the Minnesota Timberwolves and Minnesota Lynx professional basketball teams. Evolv is the Preferred Patron Screening Provider of Target Center, a multi-use arena in downtown Minneapolis. Upon deployment, the Express system was immediately put to the test as it was used to screen record-setting crowds during the WNBA Finals. The nine Express systems will be used for all Timberwolves and Lynx home games and other concerts, shows, family and private events at the arena.

“We’re very excited to introduce Evolv Express to our guests who enter the Target Center,” said David Feeley, General Manager Target Center, ASM Global. “With our old system, guests had to divest everything into the security screening tray, now with Evolv they don’t, and it helps to increase the speed our guests enter the building while still enabling us to prioritize safety.”

“Evolv is proud of its official partnership with Target Center,” said John Baier, Evolv Vice President of Sports. “It’s gratifying to know that Express helps deliver a world-class fan experience for NBA and WNBA fans and all the others that enjoy events at Target Center.”

Target Center is managed and operated by ASM Global, the world’s preeminent premium live events company with a portfolio of hundreds of venues under management globally. Evolv is the Preferred Patron Screening Technology Partner of ASM Global North America and has Express deployments in select ASM Global stadiums, arenas, and convention centers. Evolv Express is deployed at stadiums and arenas for over 40 professional sports teams across all major leagues and is a trusted security partner to over 850 customers worldwide.

About ASM Global

Award-winning ASM Global is the world’s No. 1 development and full-service venue company focused on client-first approaches for driving significant financial success. The company’s elite network spans five continents featuring a portfolio of more than 400 of the world’s most prestigious arenas, stadiums, convention/exhibition centers and performing arts venues.

ASM Global translates its unique visionary ownership experience into innovative project development, planning, and execution; content programming; curated guest-immersive experiences; locally tailored solutions; and optimized revenue streams for our client’s properties and surrounding communities. Focused on value creation and economic growth, ASM Global realizes venue business potential to elevate the profitability and profile of our clients and partners. We cultivate strong, inclusive relationships with the communities we work and live in while championing the welfare and development of our employees and small business partners, resulting in a more cohesive, resilient, and vibrant community.

ASM Global’s expertise and commitment extend across existing venue management, new venue development, and transformative renovation projects across the most exciting properties in the industry, including Kai Tak Sports Park (Hong Kong), Caesars Superdome (New Orleans, Louisiana), The Moscone Center (San Francisco, California), AO Arena (Manchester, U.K.), The Greek Theatre (Los Angeles, California), Desert Diamond Arena (Glendale, Arizona) and Fishers Event Center (Fishers, Indiana).

Follow us on Facebook, Instagram, LinkedIn and Twitter. asmglobal.com

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is designed to transform human security to make a safer, faster, and better experience for the world’s most iconic venues and companies as well as schools, hospitals, and public spaces, using industry leading artificial intelligence (AI)-powered screening and analytics. Its mission is to transform security to create a safer world to live, work, learn, and play. Evolv has digitally transformed the gateways in many places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv’s advanced systems have scanned more than two billion people since 2019. Evolv has been awarded the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT) as well as the Security Industry Association (SIA) New Products and Solutions (NPS) Award in the Law Enforcement/Public Safety/Guarding Systems category, as well as Sport Business Journal’s (SBJ) awards for “Best In Fan Experience Technology” and “Best In Sports Technology”. Evolv®, Evolv Express®, Evolv Insights®, Evolv Visual Gun Detection™, Evolv eXpedite™, and Evolv Eva™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit evolv.com.

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events or our Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in our Annual Report on Form 10-K for the year ended on December 31, 2023, that was filed with the SEC on February 29, 2024, as may be updated in other filings we make with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended on June 30, 2024 that was filed with the SEC on August 8, 2024. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241122677484/en/

Evolv Media Contact:

Alexandra Smith Ozerkis

aozerkis@evolvtechnology.com

Evolv Investor Contact:

Brian Norris

bnorris@evolvtechnology.com

Source: Evolv Technology

FAQ

What security system did Target Center implement for fan screening?

Target Center implemented Evolv Express, an AI-based security screening system from Evolv Technology (EVLV), installing nine systems at all main gates.

How does Evolv Express (EVLV) improve the entry process at Target Center?

Evolv Express eliminates the need for guests to empty their belongings into security trays, increasing entry speed while maintaining safety standards.

How many professional sports teams use Evolv Express (EVLV) screening systems?

Evolv Express is deployed at stadiums and arenas for over 40 professional sports teams across all major leagues.