- \n
- Q2 Revenue of $4.5 million, up 590% year-over-year<\/b><\/i><\/li>\n
- Q2 Total Contract Value (TCV) of $10.9 million, up 361% year-over-year<\/b><\/i><\/li>\n
- Begins Trading on NASDAQ following combination with NewHold Investment Corp.<\/b><\/i><\/li>\n<\/ul>\n
WALTHAM, Mass.–(BUSINESS WIRE<\/a>)–
\nEvolv Technology (NASDAQ: EVLV), the global leader in weapons detection security screening, today announced financial results for its second quarter ended June 30, 2021.\n<\/p>\n\n\u201cWe\u2019re delighted to be reporting strong second quarter results which reflect the growing demand for our innovative approach to keeping venues safe,\u201d said Peter George, Chief Executive Officer of Evolv Technology. \u201cOur growth continues to be fueled by visionary security experts that are deploying Evolv Express in venues to improve their security posture and their visitors\u2019 experience, while lowering their operating costs. Looking ahead, we believe that we are well positioned to extend our leadership in the weapons detection security screening market.\u201d\n<\/p>\n
Results for the Second Quarter of 2021<\/b><\/p>\n
\nTotal revenue for the second quarter of 2021 was $4.5 million, an increase of 590% compared to $0.6 million for the second quarter of 2020. Total Contract Value (\u201cTCV\u201d) of orders booked for the second quarter of 2021 was $10.9 million, an increase of 361% compared to $2.6 million in the second quarter of 2020. GAAP net loss for the second quarter of 2021 was $22.4 million, or $0.71 per basic and diluted share, compared to a GAAP net loss of $5.1 million, or $0.22 per basic and diluted share, for the second quarter of 2020. As of June 30, 2021, the Company had $10.0 million of cash and cash equivalents compared to $4.7 million at December 31, 2020. On July 16, 2021, the Company completed its previously announced business combination with NewHold Investment Corp., which raised approximately $385 million of cash for the Company which the Company intends to use for general working capital requirements and to fund the Company\u2019s accelerating growth.\n<\/p>\n
Results for the First Six Months of 2021<\/b><\/p>\n
\nTotal revenue for the first six months of 2021 was $8.5 million, an increase of 558% compared to $1.3 million for the first six months of 2020. TCV of orders booked for the first six months of 2021 was $20.2 million, an increase of 226% compared to $6.0 million in the first six months of 2020. GAAP net loss for the first six months of 2021 was $36.1 million, or $1.22 per basic and diluted share, compared to a GAAP net loss of $11.5 million, or $0.49 per basic and diluted share, for the first six months of 2020.\n<\/p>\n
Company Issues Outlook for 2021<\/b><\/p>\n
\nThe Company today issued its full year outlook for TCV of orders booked and total revenue. The Company\u2019s outlook is based on the current indications for its business, which may change at any time.\n<\/p>\n
- \n
- \nThe Company expects the TCV of orders booked in 2021 to be in the range of $53 million to $55 million.\n<\/li>\n
- \nThe Company expects total revenue in 2021 to be in the range of $20 million to $21 million.\n<\/li>\n
- \nThe Company expects GAAP net loss per share to be in the range of $0.75 to $0.80 based on approximately 84 million weighted average diluted shares outstanding.\n<\/li>\n<\/ul>\n
Company to Host Live Conference Call and Webcast<\/b><\/p>\n
\nThe Company\u2019s management team plans to host a live conference call and webcast at 4:30 p.m. Eastern Time today to discuss the financial results as well as management\u2019s outlook for the business and other matters. The conference call may be accessed in the United States by dialing +1.844.867.6169 and using access code \u201cEVLV\u201d. The conference call may be accessed outside of the United States by dialing +1.409.207.6975 and using access code \u201cEVLV\u201d. The conference call will be simultaneously webcast on the Company\u2019s investor relations website, which can be accessed at http:\/\/ir.evolvtechnology.com<\/a>. A replay of the conference call will be available approximately two hours after the call for a period of two weeks by dialing 1.866.207.1041 or +1.402.970.0847 and using access code 5737477 or by accessing the webcast replay on the Company\u2019s investor relations website at http:\/\/ir.evolvtechnology.com<\/a>. The Company has used, and intends to continue to use, the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.\n<\/p>\n
About Evolv Technology<\/b><\/p>\n
\nEvolv Technology (NASDAQ: EVLV) is the global leader in weapons detection security screening. Our mission is enabling a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. This enhances the visitor experience and improves weapons detection. We give sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Our security system, delivered as a SaaS-based offering, has scanned more than 75 million people, second only to the Department of Homeland Security\u2019s Transportation Security Administration in the United States, and our technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors. Evolv Technology, Evolv Express\u00ae, Evolv Insights\u2122, and Evolv Cortex AI\u2122 are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit https:\/\/evolvtechnology.com<\/a>.\n<\/p>\n
Forward-Looking Statements <\/b><\/p>\n
\nCertain statements in this press release may constitute \u201cforward-looking\u201d 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. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201canticipate,\u201d \u201caim,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cis\/are likely to\u201d or the negative of these terms 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\u2019s 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 expectations regarding Evolv\u2019s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Evolv\u2019s ability to invest in growth initiatives and pursue acquisition opportunities; the risk that the consummation of the business combination with NewHold Investment Corp. (the \u201cBusiness Combination\u201d) disrupts Evolv\u2019s current plans; the ability to recognize the anticipated benefits of the Business Combination; unexpected costs related to the Business Combination; limited liquidity and trading of our securities; geopolitical risk and changes in applicable laws or regulations; the possibility that we may be adversely affected by other economic, business, and\/or competitive factors; operational risk; risk that the COVID-19 pandemic, and local, state, and federal responses to addressing the pandemic may have an adverse effect on our business operations, as well as our financial condition and results of operations; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on our resources; our ability to successfully deploy the proceeds from the Business Combination; and the risk factors set forth under the caption \u201cRisk Factors\u201d in our proxy statement\/prospectus, filed with the Securities and Exchange Commission (the \u201cSEC\u201d) on June 28, 2021, as updated by the risk factors disclosed in the section titled \u201cRisk Factors\u201d in our Form 8-K, filed with the SEC on July 22, 2021, and in our other documents filed with or furnished to the SEC.\n<\/p>\n
\nThese statements reflect management\u2019s 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.\n<\/p>\n
\n
\n \n EVOLV TECHNOLOGY<\/b><\/p>\n
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS<\/b><\/p>\n
(In thousands, except share and per share data)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n Three Months Ended
\n
June 30,<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n \n Six Months Ended
\n
<\/b>June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n 2021<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2021<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Revenue:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProduct revenue………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 2,452\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 17\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 4,954\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 73\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSubscription revenue…………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,513\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n490\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,813\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n949\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nService revenue ………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n515\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n142\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n712\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n267\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenue…………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,480\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n649\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n8,479\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,289\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cost of revenue:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProduct revenue………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,075\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n37\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,304\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n198\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSubscription revenue…………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n861\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n364\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,456\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n702\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nService revenue ………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n413\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n85\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n540\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n207\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal cost of revenue………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,349\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n486\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n6,300\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,107\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross profit……………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,131\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n163\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,179\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n182\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating expenses:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSales and marketing………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,077\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,947\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,689\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n6,541\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development…………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,090\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,371\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n8,774\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,553\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,280\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n869\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,179\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,499\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses…………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n7,447\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,187\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n17,642\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n11,593\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Loss from operations<\/b>………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(6,316)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(5,024)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(15,463)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(11,411)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,255\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n80\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,702\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n123\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on extinguishment of debt………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n11,820\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n11,820\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in fair value of derivative liability…………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n795\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,220\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in fair value of common stock warrant liability…………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n185\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n921\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal other expense…………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n16,055\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n80\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n20,663\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n123\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net loss and comprehensive loss attributable to common<\/b><\/p>\n<\/td>\n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n stockholders \u2013 basic and diluted<\/b>…………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (22,371)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (5,104)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (36,126)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (11,534)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loss per share \u2013 basic and diluted………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (0.71)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (0.22)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (1.22)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (0.49)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average ordinary shares outstanding \u2013 basic and\n<\/p>\n<\/td>\n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \ndiluted…………………………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n31,540,397\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n23,568,291\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n29,593,131\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n23,491,518\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n EVOLV TECHNOLOGY<\/b><\/p>\n
CONDENSED CONSOLIDATED BALANCE SHEETS <\/b><\/p>\n
(In thousands, except share and per share data)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n June 30,
\n<\/b>
2021<\/b><\/p>\n<\/td>\n\u00a0<\/td>\n \n December 31,
\n<\/b>
2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n Assets<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets:\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash …………………………………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,963\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,704\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted Cash ……………………………………………………………………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n400\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable, net………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,799\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,401\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventory…………………………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,869\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,742\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other current assets………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,237\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,462\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets………………………………………………………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n26,268\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n10,309\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommission asset, noncurrent\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,192\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,730\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026…\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n17,552\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,316\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted cash, noncurrent\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n275\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term assets\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n239\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets………………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 46,526\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ 21,355\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Liabilities and Shareholders\u2019 Equity<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable…………………………………………………………………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,798\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,437\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses and other current liabilities………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,493\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,727\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of deferred revenue………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,769\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,717\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of long-term debt…………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n29,802\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current liabilities………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n163\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n238\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n49,025\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n12,119\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred revenue…………………………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n681\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n480\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock warrant liability\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n922\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDerivative liability\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n20,206\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,000\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinancing obligation, noncurrent\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n132\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt, noncurrent\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n18,352\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n16,432\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities…………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n89,186\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n30,164\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nConvertible preferred stock and shareholders\u2019 equity\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nConvertible preferred stock\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n75,877\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n75,877\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n35\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n26\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n11,439\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n9,169\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated deficit \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(130,007)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(93,881)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal shareholders\u2019 deficit\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(118,537)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(84,686)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and shareholders\u2019 equity\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n46,526\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n21,355\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n EVOLV TECHNOLOGY<\/b><\/p>\n
CONSOLIDATED STATEMENTS OF CASH FLOWS <\/b><\/p>\n
(In thousands)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n \n Six Months Ended
\n
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n 2021<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from operating activities:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loss……………………………………………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (36,126)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$ (11,534)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments to reconcile net income to net cash provided by operating activities:\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026…\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,102\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n394\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n1,617\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n122\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNoncash interest expense\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026…\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,455\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision recorded for allowance for doubtful accounts\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(63)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(16)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on extinguishment of debt\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n11,820\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in fair value of derivative liability\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,220\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in fair value of common stock warrant liability\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n921\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChanges in operating assets and liabilities\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(3,900)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(2,075)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by operating activities……………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(16,954)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(13,109)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from investing activities:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchases of property and equipment……………………………………………………………………………………………\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(9,292)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(2,106)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in investing activities…………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(9,292)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(2,106)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from financing activities:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from issuance of Series B-1 convertible preferred stock, net of issuance costs\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n–\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n2,994\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from exercise of stock options\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n657\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n70\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRepayment of financing obligations\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(359)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(161)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from long-term debt, net of issuance costs\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n31,882\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n3,154\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by financing activities……………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n32,180\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n6,057\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net increase (decrease) in cash<\/b>…………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n5,934\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n(9,158)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash, beginning of period…………………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n4,704\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n17,341\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash, end of period……………………………………………………………………………………………………………………………..\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$10,638\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$8,183\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Supplemental disclosure of cash flow information:<\/b><\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash paid for interest………………………………………………………………………………………………………………….\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$247\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$80\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210816005614\/en\/<\/a><\/span><\/p>\n
Investor Contact:
\n<\/b>
Brian Norris
\n
Vice President of Investor Relations
\n
bnorris@evolvtechnology.com
\n<\/a><\/p>\nMedia<\/b>Contact<\/b>:
\n<\/b>
Fitz Barth
\n
Director of Communications
\n
fbarth@evolvtechnology.com<\/a><\/p>\nKEYWORDS:<\/b> United States North America Massachusetts<\/p>\n
INDUSTRY KEYWORDS:<\/b> Technology Security<\/p>\n
- Q2 Total Contract Value (TCV) of $10.9 million, up 361% year-over-year<\/b><\/i><\/li>\n
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<\/td>\n<\/tr>\n