Category: press_release

Demand for Evolv Express®, Artificial Intelligence and Insights Growing Across Elementary, Middle and High Schools in the U.S.   

As gun violence continues to rise, with more school shootings in 2021 than any other year in U.S. history, schools across the country are relying on Evolv Technology (NASDAQ: EVLV) and its Evolv Express® security screening solution to proactively defuse the threat of active shooters.  

As the leader in weapons detection security screening, Evolv has expanded the use of Evolv Express, its sensor- and artificial intelligence-based screening solution, in the Spartanburg, South Carolina County School District 6. It initially announced that it had partnered with the school district in early 2020. Evolv Express detects weapons 10 times faster than metal detectors and streamlines entry into buildings by scanning 3,600 people per hour, helping to keep the more than 12,000 Spartanburg students and staff safe from gun violence.  

Since students in the Spartanburg district come and go all day throughout three main campuses, as well as the nearby Technology Center, the district’s security requirements included support for constant throughput of foot traffic and the ability to adjust sensitivity settings based on threat levels. Evolv Express exceeded these requirements and streamlined the bag check process without compromising safety. The combination of Evolv Express and the district’s security staff provides Spartanburg with an additional line of defense against potential threats. 

Spartanburg’s Dr. Mark Smith, director of student services and safety, led the district’s proactive approach to instituting new security measures. “We’ve all witnessed the tragedy of school shootings over the years, and we want to proactively prevent it from happening in the first place,” Smith said. “In evaluating options, we considered metal detectors, but they typically flag everything as a potential threat, causing big delays as every person entering and every bag would need to be searched. For us, Evolv’s free-flow weapons detection system was the right choice.” 

Spartanburg relies on Evolv Express,  a weapons detection system that combines powerful sensor technology with proven artificial intelligence (AI) and comprehensive analytics to provide safer, more accurate threat detection at an unprecedented speed and volume. 

“Much like Spartanburg, schools across the nation are taking a proactive stance against the threat of gun violence. We, as a society, can no longer wait for others to enact change that will improve the safety of our schools and streets. Instead, we need to act now, lead by example, and institute policies and technologies that will protect students today and preserve the future for the next generation,” said Peter George, CEO of Evolv Technology.  

 

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. 

 

Contacts 

Media Contact: 

Fitzgerald Barth 

fbarth@evolvtechnology.com  

 

Investor Contact: 
Brian Norris  
bnorris@evolvtechnology.com    

New ecosystem technology integrations intended to help neutralize potential threats quickly and accelerate guard response times

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced enhancements to Evolv Express®. With today’s announcement, Evolv Express is now the first system to integrate weapons screening and detection data collected at venue entrances with Milestone Video Management System (VMS) and Titan HST mass notification system, which further extends Evolv Express’ screening intelligence to complementary security technologies, simplifying and improving management for a venue’s security professionals. The new integrations are in addition to Evolv’s existing integration with Motorola Solutions announced in 2021.

Rise in violence, fragmented security technologies and guard turnover increase threats to safety

According to the Gun Violence Archive, there were 611 mass shootings in 2020, which is up from 269 in 2014 and 417 in 2019. That’s a 47% increase from 2019 to 2020.

The Las Vegas attack in 2017 was the worst mass shooting in recent U.S. history; seven of the shootings with the highest number of casualties happened within the past 10 years.

In addition to the growing physical threats of today, security teams and professionals are facing new challenges such as reduced workforces and temporary, high-turnover guard staff. A recent Gartner survey revealed that integration with existing systems is a physical security professionals’ most-reported procurement headache[i].

Software-first approach addresses challenges, improves security

The reliance on decades-old, hardware only, metal detectors has meant that venues face complex challenges to collect, analyze, and learn from data about people entering and exiting their premises. Within this hardware-centric landscape, physical security strategies were fragmented and disjointed, leaving venues vulnerable to threats and poor visitor experience.  

The enhancements to Evolv Express address the legacy, antiquated approach to physical security and enable security teams to meet today’s threats. Through these new integrations, information about Evolv Express-identified threats – including time, location, image data, type of threat, and staff requests for additional support – can  be instantly communicated to complementary security technologies via the Milestone and Titan HST VMS systems and protocols that a venue may already have in place.

“Before these integrations, security guards at venue entry points had very few tools to communicate – quickly and at a mass scale – about a threat. Now, if a guard at one gate identifies a threat, they can immediately inform the full security team.  In elevated situations, every minute counts.” said Peter George, CEO of Evolv Technology. “Until today, collecting reliable weapons data at venue entrances has been exceedingly difficult, which has forced security teams to find other, non-automated ways, and hampers their ability to mitigate risks quickly. Our powerful integrations enable venues to improve their security and for visitors  to confidently and safely enjoy their venue experience.” 

“Titan HST & Evolv are committed to bringing best-in-class technologies together through partnership to achieve industry-leading outcomes for our clients,” said Vic Merjanian, CEO of Titan HST. “Working together, we believe Titan HST and Evolv can bring the best threat detection system on the market with the best multi-patented mass notification platform on the market, ensuring our clients can maintain security and business continuity. Together, Titan HST and Evolv help quickly identify and manage potential threats and mitigate risks to sites via instantaneous communication.”

Consumers want to feel – and be – safe

Recent research revealed that Americans are filled with more anxiety than ever; 1 in 5 believe their chances of encountering an active shooter have increased since 2019. That pervasive feeling of anxiety and worry carries over into where Americans go and what they are willing to do to reduce the threat of a terrorist attack or mass shooting. This research shows more than half (56.7%) of Americans are willing to go through weapons screening at everyday locations, such as the grocery store, workplace or movie theater and 46% are willing to have their bags checked.

Advanced video analytics accelerate threat resolution

Today’s Evolv Express enhancements also include advanced video analytics that further improve and automate the identification and resolution of who presents a potential threat, and where on a person’s body the threat is located. By optimizing and automating threat isolation, high-turnover security guard staff can be more effective, accelerate detection and resolution of the threat, and maintain a seamless and frictionless experience for guests moving through the entryway.

George continued, “Our research demonstrates Americans want to feel and be safe, but currently do not. All venues where people gather have the opportunity to help their guests feel confident they are safe, while not impacting the overall guest experience. Venues can do this while transforming their digital infrastructure to align with 21st century technology, innovations and expectations.”

These advancements are generally available. For more information about Evolv Express, Evolv Insights, or to see a demo, visit our website. 

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.

Venues including Mercedes-Benz Stadium (Atlanta Falcons), Nissan Stadium (Tennessee Titans), and Lower.com Field (Columbus Crew) are taking steps to reduce crowd security threats by using Evolv Express®

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced that its state-of-the-art Evolv Express® screening solution is helping to fundamentally transform the fan experience at many professional sports stadiums across the U.S.

Nissan Stadium, home of the Tennessee Titans, eliminated its 30-minute security screening queues and doubled visitor satisfaction for screening overnight – from a 2.3 to a 4.6 (out of 5.0). Thanks to Evolv Express, Lower.com Field, home of the Columbus Crew MLS team, can now accommodate a surge of 16,000 fans entering the stadium through one gate. By integrating security screening, ticketing and facial scanning, Lower.com Field has streamlined the entry process and created a completely touchless experience for Crew fans.

At Mercedes-Benz Stadium, home of the Atlanta Falcons, 9 out of 10 fans now say that the security screening process is no longer a point of contention for them. The stadium also rates in the top quarter of all NFL stadiums for gate entry experience from fans.

“We are transforming sports events from the era of waiting in large, threat-prone crowds, through long lines and invasive bag checks to a safer, touchless experience,” said Peter George, CEO of Evolv Technology. “Teams across the country are showing their commitment to fan-first experiences by implementing innovative technology, like Evolv Express, that delivers a positive impression from the moment a fan arrives. These teams don’t just claim to put their fans first, they’re doing it – and their fans are noticing.”

Evolv is transforming security so that people can gather safely with ease. Using advanced, sensor-based AI-driven technology for weapons detection screening, Evolv Express can help to move people through the gates at unprecedented volume and speed. Built on its Evolv Cortex AI™ software platform, Evolv continually improves its customers’ security posture through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems have not.

Additionally, through Evolv Insights™ analytics, the company provides additional capabilities and insights to teams who want to continuously improve their fan entrance experience. For example, operations and security teams can review the dashboard for shifts in traffic to identify where improvements, such as repositioning scanners, can be made to improve flow.

Delivering on Demand With Professional Sports Experts

Evolv has added a team of professional sports experts to its expanding employee roster to meet the growing demand from forward-thinking sports visionaries.  

Leading the team, the company has hired John Baier as Vice President of Sports. He spent the last 15 years with BSE Global, the parent company of the Brooklyn Nets and Barclays Center, where he played a pivotal role in launching the new sales and relocation efforts of the Nets with the opening of the Barclays Center in 2012. He’s held numerous titles for which his responsibilities included running business development efforts and client retention.

“We love watching fans’ faces when they realize they don’t have to stop as they walk through Evolv Express,” said Baier. “Once a stadium implements Evolv Express, the atmosphere and energy level on the outside of the stadium matches the inside. The frustration and impatience that go hand-in-hand with long security lines and extended wait times are replaced by excitement and anticipation as fans focus on the reason they are there: to see their team play… and hopefully win!”

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.

With Evolv Express®, guests at Milwaukee’s premier performing arts space experience a frictionless, safe, and fast entry experience

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced a partnership with the Marcus Performing Arts Center in Milwaukee, WI. With Evolv’s state-of-the-art Evolv Express® screening solution, visitors can now walk right into the venue without any unwelcome delays at the entrance.

The Marcus Performance Arts Center (Marcus Center) is a gathering place for the community. The largest Marcus Center venue, Uihlein Hall, provides the stage for everything from touring Broadway shows to nationally and internationally acclaimed artists, as well as a place for local artists and theater companies to perform. With today’s announcement, the audience can get to their seats faster, thanks to an entry process that can screen up to 3,600 people per hour.

“Evolv has completely transformed our audiences’ experience,” said Jayson Wasielewski, Director of Security at Marcus Performing Arts Center. “Audience members are able to enter our venue with ease and get to their seats quickly.”

Evolv Express uses powerful sensor technology with proven artificial intelligence (AI) to provide safer, more accurate threat detection at unprecedented volume and speed. The technology enables guests to walk through the system side-by-side without removing items from their pockets or bags.

“The Marcus Performing Arts Center works to bring people together with its programming,” said Peter George, CEO of Evolv Technology. “With our partnership, the Marcus Center’s audience members can turn their attention to the experience and enjoy the performance.”

Audiences first experienced Evolv Express when Hamilton was presented at the Marcus Center in October of 2021. Broadway at the Marcus Center continues into 2022 with performances of Mean Girls in January, Pretty Woman in March, and Cats in May, among other shows. The Marcus Center is also home to the Milwaukee Ballet Company, Florentine Opera Company, and the Milwaukee Youth Symphony Orchestra.

Wasielewski continued, “In addition to the audience experience, the Evolv Express has significantly improved our internal operations, enabling right-sized staffing.”

About Marcus Performing Arts Center

Established in 1969, the Marcus Performing Arts Center (MPAC) is the premier performing arts community gathering space in Southeastern Wisconsin, bringing high-quality arts and cultural programming to the region. As a mission-based 501(c)3 non-profit organization, MPAC strives to act as a bridge between cultures and an energizing force for collaboration and advocacy in the community. The touring Broadway series, sponsored by Johnson Financial Group, is recognized as bringing the best of Broadway entertainment to Milwaukee since 1996, and provides opportunities to educate, entertain, and engage audiences. As a presenter, MPAC offers its own diverse arts and cultural programming and outreach, such as MPAC Presents, Rainbow Summer Reimagined, KidZ Days, ArtsConnect, and additional performances from internationally-renowned performing artists. Marcus Performing Arts Center is also home to a variety of resident arts partners, including First Stage, Milwaukee Ballet, Florentine Opera Company, Black Arts MKE, Milwaukee Youth Symphony Orchestra, and more. MPAC is proud to be a dedicated War Memorial facility, honoring those who bravely served our country. For more information, visit www.marcuscenter.org.

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 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.

 

Contacts

Media Contact:

Fitzgerald Barth

fbarth@evolvtechnology.com

 

Investor Contact:
Brian Norris
bnorris@evolvtechnology.com

Historical Ozarks Entertainment and Gathering Venue Adopts Modern Security to Deliver Great Customer Experiences

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced its newest customer, the Historic Gillioz Theatre.

At first glance, guests of the Gillioz Theatre may not be aware of Evolv Technology, but they will notice the ease of entering the venue and the elimination of long lines, security wands, and bag checks.

Evolv Technology’s security-as-a-service provides the Gillioz Theatre with advanced safety screening kiosks and artificial intelligence software which allow guests to walk through without removing items from their bags or pockets. The partnership enables the Gillioz Theatre to fortify physical security while also providing an additional source of intelligent data to support and improve internal operations as well as guest experience.

“Our top priorities are to ensure the safety of our guests while delivering a great theater experience. With Evolv Technology, we’re able to exceed their expectations with an unobtrusive approach to security screenings,” said Geoff Steele, executive director of the Gillioz Theatre. “And it’s a solution that easily blends the future with the past without disrupting the ambiance of our lobby and auditorium, which has been restored to its original 1926 condition.”

Located in Springfield, Missouri, the Gillioz Theatre is listed on the National Register of Historical Places. With seating for just over 1,000 guests, the Gillioz Theatre hosts special events that include concerts, film, theatre, arts education, religious gatherings, school programs, weddings, seminars/conventions, and television broadcasts.

“Theaters and entertainment venues of all sizes are realizing significant benefits after easily installing Evolv Technology in just a few hours,” said Peter George, CEO, Evolv Technology. “Along with modernizing safety and security, Evolv streamlines the flow of traffic into a public space. This allows security to focus on protecting the premises, enables guests to spend more time socializing, and provides the venue with more opportunities to maximize concession sales without compromising security.”

About the Gillioz Center for Arts and Entertainment

The Gillioz Center for Arts and Entertainment is a 501c-3 non-profit committed to preserving the past, celebrating community and making memories through art and entertainment. Originally opened in 1926, the theatre was closed for 26 years. Renovation was completed in 2006. It is now listed on the National Register of Historic Places. The historic Gillioz has experienced a strong resurgence and has become the most awarded venue in the region.

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 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.

 

Contacts

Media Contact:

Fitzgerald Barth

fbarth@evolvtechnology.com

Investor Contact:
Brian Norris
bnorris@evolvtechnology.com

 

 

 

 

Company recognized for Best Places to Work, Best Midsize Companies to Work For, and Best Paying Companies

Built In today announced that Evolv Technology (NASDAQ: EVLV) was honored with three of its 2022 Best Places To Work Awards. In addition to being recognized as one of Built In’s Best Places to Work, Evolv was named one of the Best Midsize Companies to Work For, and one of the Best Paying Companies. Built In’s annual awards program includes companies of all sizes, from startups to enterprise corporations, and honors companies in the eight largest tech markets in the U.S.

At Evolv, we put people first, whether that’s in the work we do protecting public spaces or supporting the development and well-being of our own employees.”  said Peter George, CEO of Evolv Technology.  “Every one of the Evolv team – including our customers and partners – take our mission very seriously, to make the world a safer place for people to work, learn and play.  These awards reflect the mission we hold dear and our values of being authentic, courageous and kind, while having a lot of fun together.”

Built In determines the winners of Best Places to Work based on an algorithm, using company data about compensation, benefits and companywide programming. To reflect the benefits candidates are searching for more frequently on Built In, the program also weighs criteria like remote and flexible work opportunities, programs for DEI, and other people-first cultural offerings. A midsize company is one with 101-500 employees.

“It is my honor to extend congratulations to the 2022 Best Places to Work winners,” said Sheridan Orr, Chief Marketing Officer, Built In. “This year saw a record number of entrants – and the past two years fundamentally changed what tech professionals want from work. These honorees have risen to the challenge, evolving to deliver employee experiences that provide the meaning and purpose today’s tech professionals seek.”

The award recognition follows a busy and successful 2021 for Evolv: the company expanded its roster of companies and venues with whom it partners to deliver secure and frictionless visitor experiences, such as the Tennessee Titans, Georgia Aquarium, Columbus Crew and the U.S. Open, became a publicly traded company on the Nasdaq Stock Exchange, and achieved the milestone of 100 million + people screened (second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the U.S.). In 2022 the company is hiring for a number of key roles.

About Built In

Built In is creating the largest platform for technology professionals globally. Monthly, more than three million of the industry’s most in-demand professionals visit the site from across the world. They rely on our platform to stay ahead of tech trends and news, develop their careers and find opportunities at companies whose values they share. Built In also serves 1,800 innovative companies of all sizes, ranging from startups to the Fortune 100. By putting their stories in front of our uniquely engaged audience, we help them hire otherwise hard-to-reach tech professionals, locally nationally or remotely. www.builtin.com

About Built In’s Best Places To Work

Built In’s esteemed Best Places To Work Awards, now in its fourth year, honor companies across numerous categories: 100 Best Places to Work, 50 Best Small Places to Work, 100 Best Midsize Places to Work, 50 Companies with the Best Benefits and 50 Best Paying Companies, 100 Best Large Companies to Work For, and 50 Best Remote-First Places to Work.

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 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.

Guests of Yellowstone Prequel Series Enjoyed Evolv Express®’ seamless and frictionless entry screening experience  

Evolv Technology (NASDAQ: EVLV), the leader in weapons detection security screening, today announced that its award-winning Evolv Express® systems were used to enhance safety at the world premiere of the highly anticipated prequel to Yellowstone – 1883. Evolv’s system allowed cast and guests to seamlessly enter the venue without stopping or emptying their pockets (unless directed by security staff).

Evolv is transforming the physical security industry with Evolv Express, by providing the world’s first AI-enabled weapons detection screening system. Built on its Evolv Cortex AI™ software platform, Evolv continually improves its customers’ security posture through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems have not provided.

We believe the entertainment industry often sets the stage for the future, and the screening of ‘1883’ is a great example,” said Peter George, CEO of Evolv Technology. “As a security industry, we can enable safe and seamless experiences; we don’t have to sacrifice one for the other. By using innovative technology like AI, we can change the way we safely gather for events, just as we have done for the Tennessee Titans, the Atlanta Falcons, the U.S. Open, and many more.”

Evolv Express provides advanced, sensor-based AI-driven technology for weapons detection screening 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. The world’s most iconic venues and companies place their trust in Evolv to protect their employees and visitors, including Nissan Stadium, Mercedes-Benz Stadium, Lincoln Center, The Boch Theatre, Six Flags, and hundreds of others.

Evolv’s systems have been used to screen more than 150 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.

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 150 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.

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.

 

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.

– 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.