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 Technology (NASDAQ: EVLV) has partnered with AO Arena in Manchester, England, to implement advanced weapons detection technology aimed at enhancing venue security and improving customer experiences. This marks the first deployment of Evolv's technology in a European arena, following successful installations in major U.S. venues. The partnership is a part of ASM Global's VenueShield program, with plans for further rollout to additional European venues. Evolv's AI-powered system enhances threat detection while streamlining venue entry for over one million visitors annually.
Evolv Technology (NASDAQ: EVLV) has partnered with Gillette Stadium to enhance fan experiences through advanced security screening. Utilizing Evolv Express® systems, the venue aims to improve safety while minimizing entry delays for visitors. This AI-driven technology efficiently detects weapons, enabling large crowds to enter without long queues. Gillette Stadium, known for hosting major events, emphasizes that safety is paramount, further integrating Evolv's innovative solutions to meet modern security demands.
Evolv Technology (NASDAQ: EVLV) will release its Q2 2022 financial results on August 10, 2022, post-market. A conference call will follow at 4:30 p.m. ET for management to discuss the results and business outlook. Interested parties can join via phone or through a live webcast on the company’s investor relations website. Evolv aims to enhance security experiences using AI-powered weapons detection, already screening over 250 million people. The company has received awards for its technology, positioning it as a leader in the security industry.
Evolv Technology (NASDAQ: EVLV) announced a partnership with Distrito T-Mobile, marking its first client in Puerto Rico. The entertainment complex, which expects over 3 million visitors in its first year, will utilize Evolv Express® for efficient weapons screening, enhancing safety without significant delays. Notably, Distrito T-Mobile has already attracted more than 1.7 million visitors in its initial six months. The collaboration signifies Evolv's expansion into new markets and supports Puerto Rico's recovery efforts post-Hurricane Maria.
Evolv Technology (NASDAQ: EVLV) has partnered with the Champaign Unit 4 School District in Illinois to implement Evolv Express®, a cutting-edge weapons detection system, in response to security incidents at local schools. After only two months, the system has screened over 182,000 visitors, detecting multiple threats and improving safety. The district plans to expand the system to football games and possibly middle schools. Evolv aims to enhance school security while prioritizing a positive learning environment for students and teachers.
Evolv Technology (NASDAQ: EVLV) will join the Russell 3000® Index effective June 27, 2022, marking a significant achievement in its growth strategy. The Russell 3000 Index captures the 4,000 largest U.S. stocks by market capitalization, enhancing Evolv's visibility to institutional investors. This inclusion also links Evolv to the Russell 1000® and Russell 2000® indices. Currently, around $12 trillion in assets are benchmarked to Russell's indexes, indicating the importance of this milestone. Evolv is known for its AI-powered weapons detection systems, having scanned over 250 million people in the U.S.
Evolv Technology (NASDAQ: EVLV) announced that the Denver Performing Arts Complex has adopted its Evolv Express® systems, replacing traditional metal detectors. This transition aims to enhance guest experiences and security, reducing stress for attendees and staff. The new system significantly shortens screening times, which previously caused long queues, improving overall efficiency. Evolv's technology leverages artificial intelligence to detect threats accurately and efficiently, showcasing a modern approach to venue security.
Evolv Technology (NASDAQ: EVLV) has partnered with Dollywood to implement Evolv Express®, an AI-driven weapons detection system for enhanced guest safety. Dollywood aims to optimize entry processes, allowing guests to pass through security without stopping or removing items. Evolv Express can process 3600 people per hour, identifying threats significantly faster than traditional methods. This collaboration not only improves the guest experience but also strengthens security at one of the world's top theme parks, as Dollywood anticipates an influx of visitors this summer.
Evolv Technology (NASDAQ: EVLV) reported Q1 2022 revenue of $8.7 million, reflecting a 118% increase year-over-year. The company's Annual Recurring Revenue (ARR) reached $16.6 million, up 207% from the previous year. Evolv Express subscriptions grew by 227% to 910. Despite the growth, the company recorded a net loss of $14.6 million or ($0.10) per share. The firm reaffirmed its 2022 revenue outlook of $29-$31 million and adjusted EBITDA expectation of ($65-$67 million.
Evolv Technology (NASDAQ: EVLV) announced that Peter George, President and CEO, will present at the Stifel Cross Sector Insight Conference on June 7, 2022, in Boston, Massachusetts. The presentation is scheduled to start at approximately 10:55 a.m. Eastern Time and will be available for live streaming on the company's investor relations website. Evolv Technology leads the market in weapons detection security screening, having scanned over 200 million people. The company's technology offers enhanced security while improving user experience at various venues.
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?
