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Evolv Technology Stops Over 100,000 Weapons From Entering Venues Since January 2022
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Evolv Technology (NASDAQ: EVLV) announced that its Evolv Express® system has prevented over 100,000 weapons from entering venues this year, indicating strong demand for advanced security solutions. The system is now implemented in over 200 schools and 70 hospitals, reflecting a growing trend in replacing traditional security measures with AI-powered screening technology. In Q3, Evolv added a record 92 new customers, emphasizing the increasing need for enhanced safety measures across various sectors. The company has screened over 425 million individuals, positioning itself as a leading force in security technology.
Positive
Prevented over 100,000 weapons from entering venues in 2023.
Implemented in over 200 schools and 70 hospitals, showcasing demand.
Added a record 92 new customers in Q3 2023, indicating growth.
Screened over 425 million people, enhancing its market position.
Negative
None.
WALTHAM, Mass.--(BUSINESS WIRE)--
Evolv Technology (NASDAQ: EVLV), the leader in AI-based weapons detection security screening, today announced that its Evolv Express® systems have stopped over 100,000 weapons from entering venues since the beginning of the year as part of its mission to help create spaces where people can gather safely. This number excludes law enforcement and represents approximately a third of the company’s customers who are currently tagging the threats by utilizing Evolv’s analytics platform, Evolv Insights®, a revolutionary tool for security professionals.
Gun violence continues to escalate in the U.S. with mass shootings happening daily. Schools and hospitals are now seeking out new ways to help keep people safe without creating an intrusive or negative security experience, the same way in which stadiums, arenas and theme parks have been replacing metal detectors and adopting advanced security screening technology, like Evolv Express. Unlike many legacy security systems and their derivatives, Evolv’s advanced weapons screening enables less time to be spent checking people, the vast majority having no item of concern.
This shift can afford a reduction in human error, guard fatigue, and bias, as well as soft targets formed by long, backed up lines.
Evolv’s Express systems, which use a combination of sensors and artificial intelligence to distinguish everyday items from weapons as people are screened at the pace of life, are now in over 200 schools and 70 hospitals around the country, in addition to stadiums, performing arts centers, places of worship and theme parks. Evolv and its customers partner to create safe zones for communities that are demanding spaces to live, learn, work and play without fear of violence. Evolv has screened over 425 million people date, approximately one million people per day, second only to the TSA in North America.
“The way in which security professionals protect venues today requires change,” said Peter George, CEO, Evolv Technology. “More and more educators, parents, healthcare providers and employees are demanding safer spaces in their schools, hospitals and places of work.”
He added, “The threat landscape continues to shift and complex security approaches that include multiple layers, each incorporating people and process with technology such as Evolv Express, are now demanded in the mainstream. While technology advances, it is important to understand that no security method or system is infallible, which is why we believe layered security and ongoing innovation is needed to mitigate risk.”
In the third quarter of this year, Evolv added a record 92 new customers, including large school districts, hospital systems, stadiums, arenas, and casinos, underscoring the growing demand for advancements in security screening as part of an overall safety plan.
“We are grateful for the meaningful partnerships we have with our customers as we work together to identify working solutions to optimize the security posture for their venues,” said George. “Our team and the security professionals we work with take the profound responsibility of helping to keep people safe very seriously.”
About Evolv Technology
Evolv Technology (NASDAQ: EVLV) is transforming 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 425 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States. 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 Technology®, Evolv Express®, Evolv Insights®, and Evolv Cortex AI® are registered 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, 2021, that was filed with the SEC on March 28, 2022, as may be updated in other filings we make with the SEC. 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.
What recent achievements has Evolv Technology (EVLV) reported?
Evolv Technology reported that its Evolv Express® system has stopped over 100,000 weapons from entering venues this year and has added 92 new customers in Q3.
How many weapons has Evolv Technology's system prevented in 2023?
Evolv Technology's system has prevented over 100,000 weapons from entering venues since the start of 2023.
In how many schools and hospitals is Evolv Technology's system currently implemented?
Evolv Technology's system is currently implemented in over 200 schools and 70 hospitals.
What significant growth did Evolv Technology experience in Q3 2023?
In Q3 2023, Evolv Technology added a record 92 new customers across various sectors.
How many individuals has Evolv Technology screened to date?
Evolv Technology has screened over 425 million individuals to date.
