| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 3 | — | — | — | — | — | — | — | — | 2 | 1 |
| Sell | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 118.73 | 51.94 | 69.04 | 63.37 |
| Receivables | 21.55 | 28.39 | 30.84 | 39.58 |
| Inventory | 10.34 | 16.96 | 9.32 | 8.66 |
| Other | 5.78 | 6.23 | 6.94 | 8.12 |
| 173.36 | 121.45 | 151.30 | 149.41 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 17.40 | 10.49 | 9.77 | 12.25 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 81.30 | 96.71 | 122.98 | 126.85 |
| 10y | 5y | 3y | |
| Sales | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | — | ‡‡‡ | ‡‡‡ |
| Earnings | — | ‡‡‡ | ‡‡‡ |
| Book Value | — | ‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 46.33 | 43.75 | — | — |
—
|
| ’25 | 32.01 | 32.54 | 42.85 | 38.50 |
145.91
|
| ’24 | 22.18 | 25.22 | 27.36 | 29.10 |
103.87
|
| ’23 | 18.58 | 19.83 | 19.96 | 21.20 |
79.57
|
| ’22 | 8.71 | 9.07 | 16.53 | 18.41 |
52.72
|
| ’21 | 4.00 | 4.68 | 8.42 | 6.29 |
23.39
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (3.18) | 11.90 | — | — |
—
|
| ’25 | (2.54) | 2.11 | 3.52 | 15.57 |
18.67
|
| ’24 | (16.15) | (21.58) | 3.68 | 3.20 |
(30.85)
|
| ’23 | (3.43) | (5.32) | 2.10 | (3.14) |
(9.80)
|
| ’22 | (29.43) | (23.06) | (16.93) | (5.32) |
(74.74)
|
| ’21 | (12.04) | (6.25) | (24.27) | (14.22) |
(56.78)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (8.14) | 2.09 | — | — |
—
|
| ’25 | (16.82) | (2.01) | (11.48) | 12.00 |
(18.32)
|
| ’24 | (37.54) | (24.92) | (0.81) | (4.89) |
(68.17)
|
| ’23 | (17.47) | (25.99) | (16.98) | (21.75) |
(82.20)
|
| ’22 | (36.85) | (28.33) | (23.42) | (10.01) |
(98.61)
|
| ’21 | (14.56) | (11.69) | (27.31) | (20.81) |
(74.37)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.03) | (0.05) | — | — |
—
|
| ’25 | (0.01) | (0.25) | (0.01) | 0.06 |
(0.20)
|
| ’24 | (0.08) | 0.02 | (0.19) | (0.10) |
(0.34)
|
| ’23 | (0.20) | (0.45) | 0.03 | (0.11) |
(0.71)
|
| ’22 | (0.10) | (0.18) | (0.13) | (0.19) |
(0.60)
|
| ’21 | (0.19) | (0.71) | 0.15 | 0.02 |
(0.15)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | — | ‡‡‡‡ | ‡‡‡‡ | 1.57 | 2.29 | 2.01 | 2.64 | — | — | — |
Low Price
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡ | 4.88 | 8.30 | 5.73 | 8.91 | — | — | — |
High Price
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 225 | 293 | 287 | 286 | — | — | — |
Employees
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.23 | 0.27 | 0.36 | 0.51 | — | — | — |
Revenue/Emp
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.72 | 79.57 | 103.87 | 145.91 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.66% | 40.10% | 57.25% | 51.61% | — | — | — |
Gross Margin
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (86.79) | (108.00) | (54.02) | (33.08) | — | — | — |
EBT
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (164.64%) | (135.73%) | (52.01%) | (22.67%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| — | ‡‡‡ | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (86.79) | (108.05) | (54.02) | (33.14) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.44 | 9.70 | 17.38 | 24.34 | — | — | — |
Depreciation
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.37 | 0.53 | 0.66 | 0.87 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.60) | (0.71) | (0.34) | (0.20) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.52) | (0.07) | (0.20) | 0.11 | — | — | — |
Cash Flow/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.17) | (0.49) | (0.24) | (0.22) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.69) | (0.55) | (0.44) | (0.11) | — | — | — |
Free CF/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.58 | 0.97 | 0.75 | 0.71 | — | — | — |
Book Value/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 143.86 | 149.17 | 156.57 | 168.42 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
PE Ratio
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 6.74 | 8.96 | 5.95 | 8.26 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 1.57 | 4.95 | 5.26 | 10.10 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 2.94 | 7.49 | 5.47 | 8.00 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (1.57) | (7.25) | (8.34) | (63.69) | — | — | — |
EV/FCF
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (74.74) | (9.80) | (30.85) | 18.67 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (23.87) | (72.40) | (37.31) | (36.99) | ‡‡‡‡‡ | — | — |
Capex
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (98.61) | (82.20) | (68.17) | (18.32) | ‡‡‡‡‡ | — | — |
FCF
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 233.46 | 92.06 | 24.74 | 28.33 | — | — | — |
Working Cap'
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 29.68 | — | — | 28.60 | — | — | — |
Total Debt
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (200.10) | (118.73) | (51.94) | (40.44) | — | — | — |
Net Debt
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 226.99 | 144.14 | 117.65 | 119.42 | — | — | — |
Sh' Equity
|
| — | — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (24.42%) | (33.49%) | (19.11%) | (11.58%) | — | — | — |
ROA
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡ | (239.33%) | (221.47%) | (78.29%) | (38.35%) | — | — | — |
ROIC
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (33.56%) | (58.23%) | (41.27%) | (27.96%) | — | — | — |
ROE
|
Evolv Technologies (EVLV) has delivered eye-popping revenue growth since its 2021 SPAC debut, surging from $4.8 million in 2020 to $103.9 million in 2024, driven by AI-powered weapons detection systems amid heightened public safety demands at schools, events, and venues like NFL stadiums. Gross margins have rebounded impressively to 57%, with subscriptions now dominating revenue and operational efficiency improving via higher revenue per employee. Analysts project continued expansion to $194.9 million by 2027, fueling optimistic price targets implying 67-76% upside from depressed levels near recent lows.
Yet, this growth masks serious downside risks: persistent net losses narrowing but still at $54 million in 2024, free cash flow deeply negative at -$68.2 million, and relentless share dilution inflating the count over 17-fold to 156.6 million, eroding per-share value. Balance sheet pressures persist with negative ROIC at -78%, shrinking equity, and heavy capex bets on R&D that show no profitability payoff yet.
Insider selling—$18.7 million in outflows versus minimal buys—signals caution amid decelerating growth, execution hiccups, and looming competition, questioning if EVLV is a coiled spring or a value trap. With FCF inflection years away and high valuations pricing in perfection, prudent investors should scrutinize these pitfalls before chasing the hype. Read the full analysis for deeper balance sheet insights and risk assessment.
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