Evolv Technology Helps to Protect European Events This Summer

Rhea-AI Summary

Evolv Technology (NASDAQ: EVLV), a leading security company, provided AI-based screening for major European events this summer, including a global sporting competition. The company's Evolv Express® systems screened over 5 million people, including 10,000 athletes, fans, and media across various venues.

Evolv Express uses advanced sensor technology and AI to detect potential threats while minimizing congestion at entry points. The system was deployed through partnerships with key security organizations like HTDS, Aitecal, ARC Communications, and 2CL Communications.

Evolv's technology is used in over 1,000 venues worldwide, screening more than 1 million people daily and tagging an average of 500 firearms every day.

Positive

• Screened over 5 million people at major European events
• Partnerships with key security organizations for global deployment
• Technology used in over 1,000 venues worldwide
• Screens more than 1 million people daily
• Tags an average of 500 firearms every day

Negative

• None.

Insights

Security Technology Expert

Evolv Technology's deployment at major European events showcases the growing adoption of AI-based security screening. The ability to screen over five million people efficiently highlights the scalability of their Evolv Express system. The technology's differentiation lies in its AI-powered threat detection, which can distinguish between common items and potential threats, potentially reducing false alarms and improving throughput.

The collaboration with global security partners indicates Evolv's strategy to expand its market reach. With over 1,000 venues using their systems and one million people screened daily, Evolv is positioning itself as a leader in the security technology sector. The reported 500 firearms tagged daily underscores the system's effectiveness and the ongoing demand for enhanced security measures in public spaces.

Event Management Specialist

The successful implementation of Evolv's technology at high-profile European events demonstrates its potential to revolutionize event security. By minimizing congestion and disruptions at entry points, the system addresses a critical pain point in event management - balancing thorough security with efficient crowd flow. This could lead to improved attendee experiences and potentially higher event capacities.

The diverse range of venues utilizing Evolv's technology, from stadiums to hospitals, indicates its versatility. For event organizers, this adaptability could translate to more consistent security protocols across various locations. The system's ability to handle large-scale events with 10,000 athletes and millions of spectators suggests it could become a go-to solution for major international events in the future.

WALTHAM, Mass.--(BUSINESS WIRE)-- Evolv Technology (NASDAQ: EVLV), a leading security technology company pioneering AI-based screening designed to create safer experiences, was honored to serve as a security screening provider for one of the world’s largest global sporting competitions that took place in Europe this summer alongside a multitude of other significant events. Evolv Express® systems were used as a layer of security to screen over five million people, including 10,000 competing athletes, fans and media who attended various events in venues across Europe from April through last week.

Evolv Express uses advanced sensor technology and AI to pinpoint and distinguish a wide variety of potential threats from many common everyday items, such as phones and keys. Evolv Express is designed to screen visitors effectively while helping minimize congestion and disruptions to traffic flow at entry points. When a threat is detected, the connected Evolv tablet displays an image of the individual who alerted and places a "Red Box" on the potential threat’s location(s).

Evolv partners with key security organizations around the world as one channel to deploy its technology. For the events this summer, Evolv partners HTDS, Aitecal, ARC Communications and 2CL Communications were instrumental in helping to successfully provide safer, more enjoyable experiences for millions of spectators.

Evolv congratulates these partners on a successful summer of sporting and other events and looks forward to supporting them on other events for the remainder of the summer and beyond. Evolv’s systems are part of security operations for over a thousand stadiums, arenas, theme parks, schools, hospitals, and iconic events. Evolv Express screens more than one million people daily, and customers are using the system to tag, on average, more than 500 firearms every day.

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 weapons detection and analytics. Its mission is to transform security to create a safer world to work, learn, and play. Evolv has digitally transformed the gateways in places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv’s advanced systems have scanned more than a 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. Evolv®, Evolv Express®, Evolv Insights®, Evolv Cortex AI®, and Evolv Visual Gun Detection™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit https://evolvtechnology.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/20240816875334/en/

Media Contact:

Alexandra Smith Ozerkis

aozerkis@evolvtechnology.com

Investor Contact:

Brian Norris

bnorris@evolvtechnology.com

Source: Evolv Technology

FAQ

What is Evolv Technology's stock symbol?

Evolv Technology's stock symbol is EVLV, and it is traded on NASDAQ.

How many people did Evolv Technology screen during European events in summer 2023?

Evolv Technology screened over 5 million people, including 10,000 competing athletes, fans, and media, at various events across Europe from April through the end of summer 2023.

What is Evolv Express and how does it work?

Evolv Express is an AI-based security screening system that uses advanced sensor technology to detect potential threats while minimizing congestion at entry points. It can distinguish threats from common items like phones and keys.

How many venues use Evolv Technology's security systems?

Evolv's security systems are part of operations for over 1,000 stadiums, arenas, theme parks, schools, hospitals, and iconic events worldwide.