Evolv Technologies Holdings, Inc. Q4 FY2025 earnings call

• John Kozerski reflected on 2025 progress, emphasizing customer trust and team efforts. Discussed the company's unique end-to-end solution stack combining hardware, software, and data. Highlighted 8,000 systems deployed, screening over 4 million people per day, and growth in ARR, revenue, adjusted EBITDA. Mentioned achievements in various markets like education (added 12 new school districts and 3 universities in Q4, 65 new education customers for the year), healthcare (advancing industry transformation, new partnership with American Hospital Association, screening over 1 million patients etc. daily), sports and live entertainment (over a dozen new customers in Q4 including seven professional football teams, 65 new customers in 2025), workplace (added multiple new Fortune 500 companies). Also talked about the early success of Expedite, an autonomous AI-based bag screening solution with 65 customers in its first full year.

No specific product segment financial performance details provided in a way to extract absolute terms and revenue contribution % as required. The text discusses various market segments like education, healthcare, sports and live entertainment, workplace, but not in the specified format.

• Expect to end 2026 with comfortably over 10,000 units deployed. • Model full-year revenue of $172 million to $178 million, above prior guidance of $160 to $165 million. • ARR growth in the range of 20% to 25%. • Expect modestly expanded adjusted EBITDA margins to the high single digits. • ARR growth to begin outpacing revenue growth in 2026. • Q1 revenue growth rate expected to be in the high 30s due to record backlog and step-up in one-time product revenue on direct purchase transactions; Q2 expected to have modest sequential revenue decline as prior year product backlog is consumed; second-half revenue expected to be modestly higher than the first half.

• Q: Jeremy Hamlin asked about revenue guidance context, ARR per unit, gross margin curve.

A: John and Chris responded about ARR accelerating throughout the year, changes in pricing model, gross margins expected to be in line or slightly better in 2026, and Plexus production schedule. • Q: Eric Martinuzzi asked about cash flow linkage to adjusted EBITDA forecast.

A: Chris responded about Q4 cash generation, 2025 being a foundational year, cash flow expectations for 2026. • Q: Shaul Eyal asked about mix between new logos and existing customers and hiring plans.

A: John and Chris responded about 50-50 split of new orders from new customers and existing customers expanding, and hiring plans including insourcing services and growing top line faster than expenses. • Q: Alex Lattimore asked about percent of bookings from current vs new customers and AHA certification impact.

A: John responded about approximately 50-50 split continuing and AHA partnership being a tailwind for healthcare deals.