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) announced its Evolv Express® screening solution is enhancing fan experiences at U.S. sports stadiums. Notable improvements include Nissan Stadium, where screening times were reduced from 30 minutes to near-instant entry, boosting visitor satisfaction from 2.3 to 4.6. Mercedes-Benz Stadium reports nine out of ten fans now favor the new screening process. The company introduced professional sports experts to capitalize on increasing demand, highlighting a commitment to safety and efficiency.
Evolv Technology (NASDAQ: EVLV) has partnered with the Marcus Performing Arts Center in Milwaukee to implement its Evolv Express® screening solution, enhancing visitor entry experiences. This technology enables rapid screening of up to 3,600 individuals per hour without the need to remove personal items. Officials from the Marcus Center acknowledge the transformation in audience experience and improved operational efficiency due to this partnership. Evolv's advanced sensors and AI technology aim to ensure safety while facilitating faster access to performances.
Evolv Technology (NASDAQ: EVLV) announces a partnership with the historic Gillioz Theatre in Springfield, Missouri, to enhance security using Evolv Express® systems. The advanced security screening technology allows guests to enter without removing belongings, improving the overall experience. The partnership not only fortifies security but also provides valuable data for venue operations. By modernizing safety, the theatre aims to maintain its historical ambiance while optimizing concession opportunities.
Evolv Technology (NASDAQ: EVLV) has earned recognition in the 2022 Best Places to Work Awards by Built In, being named one of the Best Places to Work, Best Midsize Companies to Work For, and Best Paying Companies. These awards reflect the company’s commitment to employee well-being and innovative culture. The evaluation process included compensation, benefits, and people-first cultural offerings. In 2021, Evolv made significant strides, expanding partnerships with venues and screening over 100 million people, second only to the TSA.
Evolv Technology (NASDAQ: EVLV) will announce its fourth quarter 2021 financial results on March 14, 2022, post-market. A conference call with management is scheduled for 4:30 p.m. ET on the same day to discuss the results and future business outlook. Access to the call is available via phone or through a live webcast on the company's investor relations website. Evolv Technology specializes in advanced weapons detection security screening, having scanned over 150 million individuals, and aims to enhance safety and security across various venues.
Evolv Technology (NASDAQ: EVLV) showcased its Evolv Express® systems at the world premiere of the Yellowstone prequel, 1883, enhancing safety with seamless entry for guests. Evolv Express utilizes AI-driven technology for weapons detection, screening over 150 million people, making it second only to the TSA in the U.S. The system allows rapid entry without disrupting guest experiences, which aligns with Evolv's goal of transforming physical security. The company aims to deliver better security while facilitating smooth event operations, further validated by partnerships with high-profile venues.
Evolv Technology (NASDAQ: EVLV) will be presenting at the Imperial Capital Investor Conference on December 15, 2021, in New York. CEO Peter George is scheduled to speak at approximately 9:00 a.m. Eastern Time, with a live webcast available on the company's investor relations website. Evolv is a leader in weapons detection security screening, having scanned over 100 million individuals, only second to the TSA in the U.S. The company aims to enhance safety while providing a better experience for visitors across various venues.
Evolv Technology (NASDAQ: EVLV) partners with Little River Casino Resort in Manistee, Michigan, to enhance guest safety as the casino reopens at full capacity. Utilizing the Evolv Express® screening solution, the casino aims to improve weapons detection while streamlining foot traffic. The advanced AI-driven technology allows for swift security checks, significantly reducing wait times and requiring fewer staff for monitoring. This partnership underscores the increasing demand for effective security solutions across entertainment venues.
Evolv Technology (EVLV) recently published a survey revealing the psychological impact of gun violence on Americans. Key findings include that 77.8% of respondents view gun violence as a significant issue, with 44.9% experiencing anxiety about it. Notably, 56.7% would consent to weapons detection screenings in everyday locations. The survey highlights regional differences in anxiety levels, with the South being the most concerned. As gun violence continues to affect public perception, Evolv aims to enhance security measures to alleviate the growing anxiety among citizens.
Evolv Technology (NASDAQ: EVLV) reported strong Q3 2021 results, with total revenue of $8.4 million, a 473% year-over-year increase, and Total Contract Value (TCV) of $16.9 million, up 365%. The company has raised its 2021 outlook, estimating TCV between $53-$57 million and total revenue between $20-$23 million. GAAP net income for Q3 2021 was $23.2 million, or $0.15 per diluted share, compared to a loss of $6.3 million in Q3 2020. Evolv continues to expand its customer base, securing deals with notable clients like the NFL's Carolina Panthers.
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