Month: November 2021

Evolv Technology Proves a Safe Bet for Little River Casino Resort

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Michigan Casino, Resort and Entertainment Center Welcomes a Full House with Evolv Express®

As the Little River Casino Resort reopens at full capacity, the Manistee, Michigan-based property is partnering with Evolv Technology (NASDAQ: EVLV). Evolv, the leader in weapons detection for security screening, will provide for the safety of guests and support the casino’s mission to improve the overall customer experience. 

Little River Casino Resort selected the award-winning Evolv Express® screening solution to boost safety and streamline the flow of foot traffic to its event center. Evolv Express provides advanced, sensor-based AI-driven technology for weapons detection at unprecedented volume and speed. Additionally, Evolv’s data and analytics provide security staff with powerful insights, which are used to help predict and better manage the pace of crowds through the screening process as venues strive to deliver zero-wait time for guests.

“With safety being our number one priority, our goal was to purchase an advanced screening system designed to increase overall weapons detection during events, while also screening large numbers of people in a much more efficient and effective manner, essentially streamlining the process for our valued guests,” said Melissa Medacco, Security Director for the Little River Casino Resort. “We knew there had to be a better way and that’s when our research led us to Evolv. Not only do they offer a more advanced technology for weapons detection, the system is also portable. This makes it even easier to use as crowds increase during certain days and events and to put away and store when necessary.”

By replacing the casino’s metal detectors with Evolv Express, queues are reduced dramatically overall without compromising safety. Additionally, by requiring fewer staff to manage the screening process, the casino has assigned more team members to cater to its guests’ needs.

“Little River Casino Resort’s selection of Evolv demonstrates the growing need for advanced weapons detection in casinos of all sizes,” said Peter George, CEO, Evolv Technology. “We’re honored to be part of the casino’s efforts to take advantage of the latest in weapons detection safety technologies without detracting from the customer’s experience.”

About Little River Casino Resort

The Little River Band of Ottawa Indians opened Little River Casino in 1999 as a standalone casino until the completion of their resort in 2001. When Little River Casino opened they had 600 slot machines and one dining option.

Today, Little River Casino Resort features 292 luxurious hotel rooms, a 95 space RV park, two indoor pools, one outdoor pool, an indoor winter garden, a courtyard with three fire pits, a gift shop boutique, a spa & salon, several restaurants and bars, a 1600 seat event center, 4 conference rooms, an off-site gas station/c-store, an off-site golf course, roughly 1,100 slot machines, 26 table games featuring various card games, craps and interactive stadium roulette as well as a retail sportsbook. Little River Casino Resort is conveniently located at the corner of M-22 and US-31 in Manistee, MI.   

Little River Casino Resort is owned and operated by the Little River Band of Ottawa Indians.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its 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. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 100 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its 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®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit https://evolvtechnology.com.

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” 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. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” 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’s 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, the risk factors set forth in our prospectus, filed with the Securities and Exchange Commission on September 3, 2021, and other documents filed with or furnished to the SEC. These statements reflect management’s 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.

 

New Research: 1 out of 5 Americans Believe Their Chances of Encountering an Active Shooter Have Increased Since 2019

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The survey, commissioned by Evolv Technology, quantifies the mental toll gun violence takes on Americans

 

●       More than half of Americans are willing to go through weapons detection screening at everyday locations, such as the grocery store, workplace or movie theater

●       One third (31%) report increased anxiety when going into a large gathering

●       28% feel they are likely to encounter an active shooter in their lifetime

●       Nearly one third (29%) have been in a location where someone unexpectedly opened fire

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced the findings of a study – Guns in America: A Survey on Public Violence, Anxiety, and Threats – it commissioned with market research firm Equation Research that reveals the mental toll gun violence takes on Americans across the country.

Key findings:

●       Nearly 8 out of 10 (77.8%) Americans think gun violence is a problem in America.

●       Nearly half (44.9%) of Americans report being anxious (extremely / moderately) about gun violence in America.

●       At the type of locations where high-profile mass shootings have taken place, Americans routinely check the exits and/or review their mental plan in case of an active shooter, as well as report higher levels of anxiety:

o   In a movie theater (Aurora, CO – 2012): 62.6% check exits/review mental plan; 28.6% report some level of anxiety (extreme or moderate)

o   In a grocery store (Boulder, Colorado; Collierville, TN – 2021): 49.1% check exits/review mental plan; 28.4% report some level of anxiety (extreme or moderate)

o   In a bar / night club (Orlando, FL – 2016): 29.7% report some level of anxiety (extreme or moderate)

●       15.3% of Americans feel they are at higher risk of encountering an active shooter based on their religious affiliation.

o   Among members of the Jewish religion, 49.1% believe they are more at risk. Those identifying as Muslims: 43.6%, Orthodox: 36.8% and Roman Catholic: 15.9%.

●       Of those who have been in a location where someone unexpectedly opened fire, 18% were in a bar/night club

“The United States is awash in guns and gun violence, but far from being numb to the violence, the survey results indicate that the American public is filled with more anxiety than ever, and that anxiety is slowly eroding any sense of trust that we can go about our daily lives safe from harm,” said Peter George, CEO, Evolv Technology. “We believe our research demonstrates that the most effective way to alleviate this nationwide anxiety is to democratize access to security for all public spaces, so that the public can feel confident when they gather and venues can take appropriate measures to meet their duty to keep their visitors safe.”

Regional differences

While the findings reveal that Americans everywhere feel an impact from shootings and terrorist incidences, there are some notable disparities in the level of anxiety and perception of gun violence based on where they live.  

●       Americans who live in the South (75.3%) are more worried about shooting and terrorist attacks than other regions of the country.

o   Northeast: 72%

o   West: 68.2%

o   Midwest: 66.5%

●       82% of those who live in the Northeast think gun violence is a problem in the U.S. vs. 71% of those who live in the West.

o   Likewise, 81.2% of those who live in urban areas [think it’s a problem] vs. 73% of those in rural areas.

●       Nearly 4 out of 10 (37.5%) Americans believe they are less at risk of encountering an active shooter based on where they live. 

o   Nearly half of those who live in a rural area (47.9%) feel they’re at less risk of an active shooter vs. 28% of those who live in an urban area.

●       When asked who Americans believe is most responsible to keep them safe, the answers differ based on where they live:

o   More Americans in the Northeast (30.5%) believe the local police are responsible than the rest of the country (West: 26% / South: 24.5% / Midwest: 24.4%)

o   On the contrary, less Americans in the Northeast (33%) believe they are responsible for their own safety (Midwest: 39.6% / South: 41% / West: 42%)

All places are not created equal

It’s clear that Americans are concerned about the risk of shootings in everyday locations, but for many, some carry more – and elicit higher levels of anxiety – than others.

●       More than 3 out of 10 (31.3%) Americans list “large gatherings” as the top answer when asked where they have increased anxiety as a result of gun violence and/or terrorist activity.

o   Bar/night club: 28.8%  

o   Movie theater: 28.5%

o   Mall: 26.4%

o   School: 16.4%

o   Places of worship: 12.6%

●       When attending large events, Americans are most concerned with:

o   COVID-19: 46.2%

o   Large crowds: 37.2%

o   Active shooter/shooting: 30.9%

o   Long lines: 28.6%

o   Terrorist attack: 20.6%

What Americans will do for safety

The pervasive feeling of anxiety and worry carries over into what Americans are willing to do in order to reduce the threat of a terrorist attack or mass shooting. When asked whether they would be willing to go through extra steps [to reduce those threats] at everyday locations, such as the grocery store, workplace or movie theater, they answered:

●       Go through weapons detection screening: 56.7% 

●       Have bags checked: 46.4%

●       Check guns at the door: 43.6%

●       Be patted down by a security professional: 37.4% 

●       Only 21.5% would not be willing to go through these extra steps

“What the data overwhelmingly reveal is that a mass shooting or terrorist incident has rippling effects across the U.S. population; it doesn’t just affect the people that were there,” said Joel Dvoskin, PhD, ABFP, clinical and forensic psychologist. “We have an epidemic of national trauma from the violent events that have already taken place, and don’t appear to be stopping, which I predict will only add to the trauma quantified by these findings. And most troubling, we now have a population that is demonstrating significantly increased rates of rage and instability as a result of lockdowns and isolation caused by the COVID-19 pandemic. We could be seeing an increased reason for Americans to be anxious, which explains their willingness to take extra steps to reduce threats. Evolv’s sponsored research has quantified the below-the-surface anxiety so many Americans live with, which is critical for us to start addressing the root cause – and begin taking steps towards a solution.”

Click here for the full report.

Survey Methodology

Evolv Technology commissioned Equation Research to conduct the survey, which ran from October 20 to October 28 2021. The survey captured responses from a broad distribution of 2,015 adults in the U.S. aged 18 and older.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its 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. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 100 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its 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®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit https://evolvtechnology.com.

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” 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. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” 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’s 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, the risk factors set forth in our prospectus, filed with the Securities and Exchange Commission on September 3, 2021, and other documents filed with or furnished to the SEC. These statements reflect management’s 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.

The Rise of Gun-Free Spaces in America

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Today we released the results of our original research on the mental toll of gun violence in the United States. The news is not great. We must do better. Meaningful progress is within reach. It’s time for urgent, pragmatic action.

Over 80% of Americans expressed significant anxiety about gun violence. We are living in an era of unprecedented anxiety. It’s significantly more anxiety than we felt at the height of the Cold War and in the immediate wake of the 9/11 attacks. What’s different about gun violence? It turns out that a shocking number of us (29%) have personally experienced unexpected gunfire or know someone who has (38%). It’s an actual threat in every community. It’s not theoretical. It’s real. And it’s not OK. 

The root cause of gun violence and all the related anxiety is, of course, that guns are everywhere. America has more guns than people. This is not going to change anytime soon. The Second Amendment stands firm and the votes to overturn it do not exist. We cannot assume the guns will disappear someday. We need a gun violence reduction plan. . It’s time to get real. We need a pragmatic plan that keeps the guns out of shared spaces where they are legally prohibited and yet still get in and do harm. It’s time to democratize security by massively exercising the existing right to create and enforce gun-free spaces. 

Imagine a future where everywhere you go became a safe, gun-free oasis. A future, where you aren’t thinking twice about going out, or checking for nearby exits, or mentally reviewing your escape plan. What if you had full confidence that there were no guns in your workplace, school, university, grocery store, place of worship, stadium, museum, convention center, theme park, performing arts venue, casino, hotel, hospital, or government office? All these places already prohibit guns, but not all of them are able to enforce their policies. What if they could, and did? And what if they could do it in a way that doesn’t make these places feel like a prison or TSA checkpoint at the airport? That’s the future we deserve, but it’s only possible if we massively democratize security. 

Who is responsible for democratizing security? Everyone has a vital role to play: 

  • The government must exercise its unique lawmaking and regulatory powers to further expand and strengthen the right and ability to create gun-free spaces. The new laws and regulations must pass constitutional scrutiny but still have an impact. Protecting property rights—specifically the rights to make spaces gun-free—is a cause that has the potential to enjoy bi-partisan support. It’s doable. 
  • The people—all of us—bear responsibility for demanding more gun-free spaces and advocating for them within our sphere of influence. Our voices can strengthen the resolve of the policymakers and send vital demand signals to the marketplace. 
  • All the venues and facilities where we gather must act on their duty of care by creating more gun-free spaces and more effectively enforcing their gun-free policies. This must be done without compromising the experiences that attract us to these spaces in the first place. It’s challenging, but not impossible. 
  • The physical security industry, which includes Evolv, must race to create technological and process innovations that will radically drive down the cost and complexity of creating and enforcing gun-free spaces. The early results are promising. 

I firmly believe that if we work hard in the decade ahead, we can make real progress in reducing gun violence. It is not OK to go on living with this chronic fear that is gradually impoverishing our daily experiences. It’s time to protect our treasured freedoms through focused, sensible action. A vast, growing network of truly safe, totally gun-free gathering spaces feels like a good place to start. I hope you’ll join the fight to make it happen. #GoGunFree 

Digital Threshold Live powered by Evolv – “The Transformation of Security in Modern History”

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What is Digital Threshold Live?

Digital Threshold Live is a webcast series hosted by Evolv interviewing security leaders across a variety of verticals bringing you security trends, best practices and thought leadership to help you provide a safer tomorrow. It’s time we make everywhere safer.

Watch Digital Threshold Live powered by Evolv – “The Transformation of Security in Modern History”

How has the scope of security changed in 2021? What is driving this transformation? What do we see on the horizon for 2022? As you start to think about how to move your company down this path, listen to two security leaders about how they have started the security transformation.  

Four Key Takeaways

Transforming Your Business

Setting a clear vision for the company, establishing trust and confidence, and creating a safe environment for your employees to take risks are all necessary to transform your business.

Predictive Data

The pandemic has illustrated the need for security data to make business decisions. In preparation for all future unknowns, predictive data allows businesses to feel better prepared and be able to pivot faster.

Digital Transformation

Even in this age of digital transformation, security will always have a physical component, so when looking at successful security businesses, those that blend both physical security and data will be the most successful.

Audient Shift

We are seeing an audience shift in the industry with security decisions moving up to the c-suite level experts which are elevating the importance and influence of security professionals.

About STANLEY Security

STANLEY Security, a division of Stanley Black & Decker (NYSE: SWK), is a global provider of integrated security, health and safety solutions and services. With more than 200 locations, serving six continents, we’re trusted by customers across the globe for innovative solutions; seamless installation and integration; reliable maintenance; 24/7 monitoring; and insightful analytics. At the heart of our business is a vision for creating safer, healthier and more efficient environments – guided by a purpose to help the world progress.

Learn More

About Evolv

Evolv Technology provides touchless security screening that delivers safety without sacrificing the visitor experience. Evolv Express® spots concealed weapons and other threats using advanced digital sensors and artificial intelligence. It’s incredibly accurate and can screen up to 3,600 people per hour – 10 times faster than traditional metal detectors. Our customers include L.L. Bean, Six Flags Theme Parks, Wynn Las Vegas, and hundreds more.

Learn More

The ROI of Data-Driven Security

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In the critical role of safeguarding the public, security leaders polled find two of their top challenges to be reactive approaches and subjective decision-making. While intuition and “gut-feel” are essential to protecting physical security, quantitative data can help teams support a more proactive security posture with evidence-based decisions around staffing, resourcing, training, and ConOps (concept of operations) planning.

But analog security technologies like walk-through metal detectors, visual bag scans, and wanding don’t capture information accounting for their own performance. Security teams must rely on manual counts, observation, or word-of-mouth to understand their effectiveness and even to learn what threats they are catching.

Weapons detection with Evolv Express® is different. It combines sensors, cameras, and artificial intelligence to pinpoint the location of possible weapons threats on visitors’ persons or in their bags, ignoring everyday metal items so most people can walk right through and removing the burden on guards to visually assess almost everyone for possible weapons threats.

And, as it works, Evolv Express collects and communicates quantitative data at the threshold of every venue. While most people simply walk through the system at a natural pace—avoiding long lines, unsafe “soft target” scenarios, and potential health risks from close personal contact—Evolv Express captures information about visitor flow rates, alarm rates, and threat types.

Presented in its easy-to-use companion application, Evolv Insights, these analytics help venues augment the ways they safeguard physical security with evidence-based decisions across resourcing, planning, operations, staff training, and ConOps procedures.

This infographic demonstrates the real-world impact that data can have on physical security, including improved knowledge of vulnerabilities, enhanced security ConOps, accelerated reporting to venue leadership, and better experiences for both guests and security teams.

Evidence-based decision making results not only in improved security, but in always-improving security. It enables a constantly advancing, continuously learning approach that can lead to more proactive security and operations. With real-world data from every entryway, security teams can better adapt to new threats and better meet the changing needs of their venues—and their visitors.

Report: Guns in America: A Survey on Public Violence, Anxiety, and Threats

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Download Now

“Guns in America: A Survey on Public Violence, Anxiety, and Threats” is a new report that quantifies not only the impact Americans’ anxiety around guns has on their everyday lives but also demonstrates the choices they make – and the businesses they patronize – are affected by the level of risk or threat Americans perceive those places to have.  

Download this report to learn more about the mental toll gun violence, shootings, and terrorist events are having on Americans across the country. 

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eBook: Five Ways Data Improves Physical Security

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Summary

Access to digital information is changing the world dramatically, and physical security is no exception. Leading venues across sports, entertainment, theme parks, industrial workplaces, schools, healthcare, and places of worship can improve their security posture by leveraging better information about visitor curves, alarm rates, and threats across their venue during specific events … if they know where to find it.

Evolv Express® screens your visitors for weapons threats while they simply walk through at a natural pace. It also captures and presents critical information about visitor flow rates, alarm rates, and threat items in its companion, web-based application, Evolv Insights™— improving the data available for evidence-based decision-making across venue security and operations teams.

Fill out the form below to download the eBook and learn about five ways to utilize data to improve your physical security.

How the Digital Transformation of Physical Security Impacts a Venue’s Stakeholders

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When considering major organizational changes, like the digital transformation of physical security at a venue, security and operational leaders must ask themselves who this change will impact, and how.

Of course, as part of the evaluation of an organization’s physical security, reducing risk is paramount. All changes that impact stakeholders from across a venue must be evaluated through this lens.  

This blog considers the perspective of five groups impacted when a venue introduces touchless physical screening for weapons detection—visitors, security leaders, operations, guard staff, and the public at large—and how the results of such a change are experienced by each group. For more information on the benefits to these stakeholders, read the new eBook: Five Ways Data Improves Physical Security.

The Impact on Visitors

New physical screening technologies first and foremost impact guests, employees, and other visitors who walk through the doors of a venue. With Evolv Express®, rather than waiting in long lines for walk-through metal detectors, visual bag checks, or wanding technologies, people entering a venue can simply walk through the system at a natural pace.

Touchless screening preserves the dignity, health, and safety of visitors, while targeted visual alerts delivered onscreen for guard staff return focused information about where on a person or in their bag the potential threat could be located, accelerating alarm resolution and further reducing the burden on visitors.

The Outcomes: Reducing the need to stop, divest of personal belongings, and turn over bags improves the guest experience, as evidenced by the change from 4.0 to 4.6 out of 5 ratings for guest experience at the Georgia Aquarium following the introduction of Evolv Express systems—a change the team there attributed to the replacement of walk-through metal detectors in their lobby with Evolv Express systems.

The Impact on Security Leaders

Security leaders at your venue prioritize security ConOps (concept of operations) approaches that ensure the highest degree of safety for visitors while maintaining the best possible guest experience. And while “managing by walking around” can tell these leaders a lot about what’s working and what isn’t, traditional methods like walk-through metal detectors and wanding simply don’t make an accounting of their own success—or lack thereof.

In contrast, Evolv Express keeps a count of each visitor that walks through and each alarm that is triggered, and it provides operators with the means to tag each alert upon resolution in order to identify which types of threats are encountered most. Evolv Insights provides visibility into these metrics across every day, time, and type of event at a venue: down to highly granular, five-minute intervals.

The Outcomes: The objective data accompanying Evolv Express has helped one performing arts venue find 85 knives and 20 handguns in just one month of operation with 9000 visitors.

At another popular performing arts venue with Evolv Express, Pittsburgh Cultural Trust, the team was able to improve their ConOps with a smaller security footprint (by 60%), improved staff use through redeployment to other parts of their venues (by 50%), and by eliminating the need for guests to stand outside in the rain—improving guest experience and security together through better data-driven planning.

They talk about this success in these terms: “Based on analytics for past events, we can make better staffing decisions—from the number needed to predicting when surges will occur. Knowledge is power and the more I can get from data, the better I can do my job and ensure the safety of our guests.”
– Chief Security Officer at Evolv Customer Pittsburgh Cultural Trust

The Impact on Venue Operations

With clearer front entryways, no more security bottlenecks, faster ingress by visitors into their venues, and comprehensive analytics for visibility into traffic at every entryway, venue operations teams can also benefit from Evolv Express and Evolv Insights.

Faster “mean time to beer” is one such positive outcome—getting people to their seats faster can boost sales and make for happier visitors that have more time to spend on concessions and merchandise. But better data can also help these vendors make better staffing and resourcing decisions, improve operational efficiencies, reduce waste, and maximize profitability. It can give guest services teams the evidence they need to gauge staffing needs and keep visitors flowing through areas typically congested after guests have passed through security—like ticketing, usher services, guides or docents, and so on.

Outcomes: The Georgia Aquarium uses information gathered from Evolv Insights, the companion analytics application to Evolv Express, to understand who is coming through their entrances when, and to tailor programs accordingly. What’s more, up to 50% of the front lobby space at their aquarium has been reclaimed from security lines and walk-through metal detectors to be repurposed as exhibit space, creating a more welcoming, positive experience for their guests.

In their own words, “With the Express systems, we know exactly how many guests enter and at what time of the day… Our marketing department can leverage this information to determine programs and spend. Our operations team uses the data to make broader staffing decisions.” – SVP of Hospitality and Operations, Georgia Aquarium

The Impact on Guard Staff

Guard fatigue can exacerbate risks at venues that use walk-through metal detectors and other manual methods of checking visitors. When everyday metal objects can cause these systems to produce so many false alarms, it becomes easier for guard staff to miss seeing weapons when they are there. Knowing a system alerted, but not knowing where on someone’s person to look, is another risk introduced by traditional, analog methods that can lead to guards missing threats.

Add to these stresses the long lines, crowded queues, and high-touch scenarios, and customers can quickly become frustrated with guard staff—and guards with customers. It’s no wonder, then, that turnover rates can be high, pay low, staff inexperienced, and onboarding time a burden for important guard roles at public venues.

The Outcomes: The Georgia Aquarium reported reduced staff attrition following the introduction of Evolv Express. And reduced turnover adds up to time and budget saved in onboarding and training. Also useful for onboarding and training: information about what threat and benign items the venue experiences the most—to ensure guards will know what to be on the lookout for when the system does alarm—along with information about what event types see the most threat items and where. This information can help security leaders train, staff, and install the most experienced guards in the right areas at the right times.

The Impact Beyond Your Four Walls

Safer, more secure venues make an impact not only on the brand but also on the community in which a venue operates. Stopping would-be perpetrators before they have an opportunity to harm people will improve the safety of venues and safeguard those in their care. Even before the threshold, would-be perpetrators often see security equipment and turn right around, either leaving their threat items outside the venue or not choosing to enter and do harm to others.

And as visitors, employees, VIPs, and other members of the surrounding community begin to realize the ease of entry, the high-quality experience afforded to guests, the reduced impact on guard staff, and the resulting improved physical security afforded to all who enter the venue, it’s just possible that the impact of a digital transformation will extend beyond those four walls. The ability to lead new initiatives in physical security throughout an industry and across a community might just set off a chain reaction of venues seeking to also improve the security of those around us—other families, concertgoers, art enjoyers, employees, sports fans, artists and athletes, future artists and future athletes—and we may all, together, begin to build a safer world.

Evolv Technology Reports Strong Third Quarter Financial Results

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– Company Raises Outlook for 2021 –

Q3 Total Contract Value (TCV) of $16.9 million, up 365% year-over-year

Q3 Revenue of $8.4 million, up 473% year-over-year

Evolv Technology (NASDAQ: EVLV), the global leader in weapons detection security screening, today announced financial results for its third quarter ended September 30, 2021 and raised its business outlook for 2021.

“We are pleased to be reporting strong third quarter results highlighted by record revenues, accelerating channel activity and category defining new product innovations,” said Peter George, Chief Executive Officer of Evolv Technology.  “We continued to extend our market leadership position with dozens of new customers including the Indianapolis Symphony Orchestra, the Nasdaq MarketSite and the National Football League’s Carolina Panthers and Tennessee Titans.  Looking ahead, we are focused on a strong finish in 2021 and believe that we are well positioned for accelerated growth.” 

Results for the Third Quarter of 2021

Total revenue for the third quarter of 2021 was $8.4 million, an increase of 473% compared to $1.5 million for the third quarter of 2020. Total Contract Value (“TCV”) of orders booked for the third quarter of 2021 was $16.9 million, an increase of 365% compared to $3.6 million in the third quarter of 2020. GAAP net income for the third quarter of 2021 was $23.2 million, or $0.15 per diluted share, compared to a GAAP net loss of $6.3 million, or $0.70 per basic and diluted share, for the third quarter of 2020.

Results for the First Nine Months of 2021

Total revenue for the first nine months of 2021 was $16.8 million, an increase of 513% compared to $2.8 million for the first nine months of 2020. TCV of orders booked for the first nine months of 2021 was $36.0 million, an increase of 280% compared to $9.5 million in the first nine months of 2020. GAAP net loss for the first nine months of 2021 was $13.4 million, or $0.28 per basic and diluted share, compared to a GAAP net loss of $18.0 million, or $2.00 per basic and diluted share, for the first nine months of 2020.

Company Raises Outlook for 2021

The Company today raised its business outlook for 2021. The Company’s outlook is based on the current indications for its business, which may change at any time.

Company to Host Live Conference Call and Webcast

The Company’s 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’s 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 1400696. The conference call may be accessed outside of the United States by dialing +1.409.207.6975 and using access code 1400696. The conference call will be simultaneously webcast on the Company’s investor relations website, which can be accessed at http://ir.evolvtechnology.com. A replay of the conference call will be available for a period of 30 days by dialing 1.866.207.1041 or +1.402.970.0847 and using access code 3758262 or by accessing the webcast replay on the Company’s investor relations website at http://ir.evolvtechnology.com. 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.

About Evolv Technology

Evolv 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 100 million people, second only to the Department of Homeland Security’s 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®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.  For more information, visit https://evolvtechnology.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” 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 “may,” “will,” “expect,” “should,” “could,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” 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’s 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’s 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’s ability to invest in growth initiatives and pursue acquisition opportunities; the risk that the consummation of the business combination with NewHold Investment Corp. (the “Business Combination”) disrupts Evolv’s 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, including variants, vaccine roll-out efforts, 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 “Risk Factors” in our prospectus, filed with the Securities and Exchange Commission (the “SEC”) on September 3, 2021, and in our other documents filed with or furnished to the SEC. 

These statements reflect management’s 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.

 

Butler University Partners with Evolv Technology to Improve the Arts Experience from Entry to Ovation

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With Evolv Express®, the Clowes Memorial Hall has eliminated 30-minute queues and improved security

 Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced a partnership with Butler University. The NCAA Division I school has chosen Evolv’s state-of-the-art Evolv Express® screening solution to secure the entrance to Clowes Memorial Hall, the anchor of the Butler Arts & Events Center and improve the experience for patrons attending events.

With 2,148 seats and a history of presenting artists dating back to 1963, Clowes Memorial Hall is once again welcoming patrons back for performances that range from comedies to musicals. Reopening with a more enjoyable experience from entry to ovation was top of mind for Aaron Hurt, executive director of the Butler Arts and Events Center.

“Clowes is about bringing art and culture to central Indiana and helping people celebrate a sense of community,” says Aaron Hurt, executive director of the Butler Arts and Events Center. “Evolv allows us to focus on that, rather than worrying about how long it takes to get into the building. Since installing the Evolv system, our patrons are inside and enjoying the theater, concessions and being together – in no time at all. The experience from before Evolv to now is night and day.”

Clowes welcomed its first show back since COVID-19 in September. Prior to re-opening, the University made several updates to the building, focused on improving the Center’s patron experience and addressed security concerns. By installing Evolv Express, the lobby size increased by 15 feet, allowing patrons to enjoy theatre amenities after passing through security without invasive bag checks and pat downs.

“At Evolv, we strive to enable a safer environment without sacrificing visitor experience,” said Peter George, CEO of Evolv Technology. “We are thrilled that our technology is enabling Butler University’s Clowes Memorial Hall to welcome patrons back safely, with a much more pleasant experience from entry to ovation.”

Clowes Memorial Hall is back to full capacity with a full slate of shows, including music, dance, comedy, and more. In a typical year, more than 300,000 people (about half the population of Wyoming) attend events at the center, including students and teachers attending educational matinee performances.

George continued: “The university, along with so many other venues and facilities, is turning to Evolv to facilitate the seamless flow of guests and patrons as they reopen. Once they realize they can deliver a safe and enjoyable experience, it’s a game changer for both security personnel and patrons.”

About Butler University

Butler University is a nationally recognized comprehensive university encompassing six colleges: Arts, Business, Communication, Education, Liberal Arts & Sciences, and Pharmacy & Health Sciences. Approximately 4,500 undergraduate and 1,000 graduate students are enrolled at Butler, representing 46 states and 22 countries. More than 75 percent of Butler students will participate in some form of internship, and Butler students have had significant success after graduation, as demonstrated by the University’s 97 percent placement rate within one year of graduation. The University was recently listed as the No. 1 regional university in the Midwest, according to the U.S. News & World Report Best Colleges Rankings, in addition to being included in The Princeton Review’s annual “best colleges” guidebook.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is the leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its 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. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 100 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its 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®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit https://evolvtechnology.com.

Forward-looking Statements  

Certain statements in this press release may constitute “forward-looking” 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. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” 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’s 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, the risk factors set forth in our proxy statement/prospectus, filed with the Securities and Exchange Commission on June 28, 2021, and other documents filed with or furnished to the SEC. These statements reflect management’s 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.