Evolv CEO Tells Investors: "Know That Nobody Has A Weapon"
While Evolv apologized earlier this year, saying it "deeply regretted" misleading the public about "creat[ing] weapons-free zones," Evolv's CEO did it again on its newest investor call.
In this report, we analyze Evolv's CEO declaration, its marketing practices, and the FTC's investigation into the company.
Evolv *******-**** ******
** *** *&* ******* ** *****'* Q3 ******** **** ** ******** *, 2023, ***** *** ***** ****** ****:
*** *** ******* ********* **** **** been ******* *** ******* **** *** early **** **** ****** ** **** public ******** ** ** ******** ***. I ****, ** **** ***** **** been *** **** ********* **** ****, which ** *** * ***. *****'* lots ** *** ******** *** * lot ** ******* ** *******, *** people **** ** ** **** ******** they **. *** **** ** ******, but **** ****'** ********* **** ***** people ** ******* ****** *** **** ...technology *** **** *** ** ****** **** ***** **** ****** *** ****** ******** *** **** **** ****** *** * ******. And we don't see that changing anytime soon. [******** *****]
*** *******-**** ***** ***'* ***, *** it ** *********. ***** **** ** frequently ***** **** *** ******* ******* "*******-**** *****," *** *** *** **** ** April **** **** **** *** "******* ********** *** *** *** *******." *******, **** ******* *** ************ that ***** ******* ********* ** *** detect ****************-******* ***** *******. ***** ******* *** ********* ** late ****, ********"*******-**** *****" ** "**** *****" (***** changed ***** ** "***** *****").
** ******** ** * ******** ** the***** "*****" ********* *** ********** *******-**** **** ******, Evolv ******** ** "*********[***] *** ************," which **** **** **** "****** ******":
** ************** ******* ** *** ********** and *** ******* ***deeply ****** ** *** ** *** **** ********** ******** ** ******** ** ********** *** ************ ** *** ****.
****** ********* ********** ** *** ********** is * **** ******** ******* ** making *** ****** ***** ** *** capabilities *** ******* *********** *** ** the ***** ** *** ******. ** technology **** ****** ** *** ***** is ***% *********.
**** ** ***** ** ******** ********, three ****** **** ** ** ******* effectively ******** *** *** ****: ******, process *** ********** ** ***** ** mitigate ****.[******** *****]
***:***** "****** *******" ************ ***** *** Capabilities, ********* **** *** *****.
Evolv ********* ** ************
** ***** *** "****** ******" "*********[***]" about *** ************, *** ***** **** the ******* *** *** ******* ***** concentrate ** *** *************** *****. *******, Evolv's *** ******* * ******* ***** just *** ****** ***** ******** ***********.
**'* ********* ** **** **** *** company **** ** **** ***** **** its *** ********* ** **** ****** regard *** ********** ********** *** ************ of ********.
Public ******** ****** *** ** ******
***** ***** ****** **** ********** *********** about ****** ********** **** *** *** public ** ****.***** **** **** ** ********:
******* *** ******* ****** *** ******* potential ****** ******,it ** ********* ** ***** ********** *********** ******** **** ***** **** ****** ****** ***** * ********** ******. Unlike the software world, where nearly every vulnerability can be patched once known, physical security systems (inclusive of people, process, and technology) are subject to the unyielding laws of physics and operational constraints that make it impossible to fix every vulnerability or correct every lapse in human judgment. [******** *****]
*** ****'* *** * **** ******. It **** *** ****** * ********** not ** ****** **** ***** *** vulnerabilities ** *** ******* **** ***. They ****** **** ***** ** ******* against *************** ** ****'** ********** *** to ******* **** ***'* ***** - which ***** ******** **** ** **** its ******* ****** ***** ***** "****** has * ******."
*** ***** ****** *** ***'*. ***** *** **************** ******* **** "********* ** ******** products *** ******* ** *** **** truth-in-advertising **** ** *** ***** ***********."
Evolv ***** *** ************* *** ********* *********
**** *** ****** ******** ***** ******* Evolv ********* ****** **** ******* *** guidelines. ******** ******* *****'****** **** *** ******** **** *** the ********** ** ************** **********'* ********* **** **'* *********** ***** system ************.
***** *** *** ********* ******* *** ** "********[***]" *** ********* practices. ***** ***** ******* ***** *** investigation ** *** ** ******* ****, saying:
**'** *** ** ******* ** **** too **** ***** **** *** ** are ******* **** *** *** ** their ******* ****** ********* ****** *** marketing. *** **'** ********* ***** ******** that **** ****. *****'* ** ******** or ********* ****** *** **********. ** stand ** **** **'* ****** ***** marketing ****** *** **'** **** ********* going ******* **** ... **'** *** up ** * ****** **** ***** ... **** ** *** *** ** it ****'* *** *** ****** ** all ** ** *** ********. *** customers *** ******* ***** ** ** not ******* ** *** *** ** anything.
** **** ***** *** ************* ** it ********** *** ****** ***********.