Evolv (EVLV) Reports Q3 2026 Revenue Growth and Increased Annual Recurring Revenue
Evolv (EVLV) reported third-quarter revenue of $47.3 million, a 10% year-over-year increase driven by new customer acquisitions and expansion within its existing client base. While the company reported a net loss of $15.6 million due to increased investments in R&D and sales, it achieved an adjusted EBITDA of $4.7 million with a 10% margin. A significant strategic shift is underway as pricing changes move contract value from upfront hardware sales into recurring streams. This transition resulted in Annual Recurring Revenue (ARR) growing 20% to $140.5 million and improved subscription gross margins to 59.8%. The company maintains a strong Remaining Performance Obligation (RPO) of $325.8 million, providing high visibility for future revenue. Market penetration remains low at under 5%, with significant footprints established in the education and healthcare sectors. Evolv provided 2026 revenue guidance of $182 million to $185 million, representing a projected growth rate of 25% to 27%.
Tickers: $EVLV
Topics: adjusted ebitda annual recurring revenue market penetration net loss revenue growth