SaaS Security Screening Provider, Evolv, Goes Public, With $1.25 Billion Valuation
Unprecedented for security screening, Evolv is going public, raising ~$470 million which gives Evolv a $1.25 billion valuation despite doing less than $5 million in revenue last year.
** **** ******, **** ******** *****'* plans, *********:
- ************* **** ** ******** *********
- ****** **** **** ******* ********** ****.
- ***** ***********
- ********* ***********
- ***** $* ******* ****** ********* *******
- ******** ********* ***********
- **-**-****** ********
- ********* *****
- *********** *********
- **** *** ***** & ******** *****
Unprecedented **** *** ********** *******
***** ********* **** * ****(*******-******* *********** *******),******* ********** ****., ** ****** * ****** ******* in ** ************* **** *** ******** security, ********** *** *** (*** ********* year **** ****) *******. [*** *****'* ******** *********.]
*** **** ****** ******* ********* *********, including ****** *******, ********* ******* ***** stockholders **** *****, ******** *********, *** Jeb ****'* ********** **** *******, ***** others.
** ****, ************ ******** *** ******** **********. ***** ****, Evolv *** ******* ** ****** * SaaS ******* **** *** ****** *** on ** ******** $* ******* ** annual ********* *******. **** ********* ********* revenue ** *** ***** ***** ********* are ******* *****, **** *** ************ declaring:
***** ** *** ***** ******* ** the ******** ** ********* * ************ SaaS *****
*** ******** **** ** *** **** security ****** **** ******* ** ****-***** next *** "***** *********".
*** ********, ***** *** **** ******* headcount **** *** **** *** ***** and *** **** **** *** *********:
Value *********** - ********* ********* *** **** *******
*****'* ****** ***** *********** ** ** speed ** ********* ** *********** ****** having ** **** *** ******* *** of ***** ******* ** **** ***, resulting, ** ******** ***** ** ******. Evolv ******** ********* **** ** "**-***** screening ******" **** "************* ************** ******* from ******** *****".
*****'* ****** '************ *,*** ****** *** hour " (*.*., */******), "*** ****** than ***** *********", *** ******** ** not **** ** **** ***** ******* through *** ********.
***** **** ****** *** ******* ********* "up ** **% **** *******" ** it "******** ************* ***** ******" ** operate. *** ******* ***** **** *****'********* ***************** ** ******* ** ********** *********:
***** *****'* ******** *** *** **** expensive **** *********** ***** ********* (*** or ****), *********** *****'* ***** *********** is ** ***** *********.
*** ***** ********* ********** ** **** it ******* ***** *** **** **** metal ********* ** *** **** ***** and *** *** ***** ** ***** users **** **** * *** ***** detectors.
Metal ********* ***********
***** ***** ****** **** *******, ***** detectors *** ********** ***********, **** **** brands **** **** *******, ********* ***** from $*,***-*,***.
Pricing - **** - * ***** - ~$***,*** *** ****
*****'* **** ******* ** $*,***-*,*** *** system *** *****, ********* * *-**** commitment.
*****'* ********* **** * ****, ***-*********** contracts, **** ** ****** **** ******** in *******. **** ***** ********* *** ~$30,000 *** *** **** ** *******, which ***** **** "****** ** ** recoup *** **** ** *** ******** in *** ***** **** ** *** contract." ** ** ******* ** ***** the * ***** *** **** *** customers ***** * *** ********, ******* they ***** ** **** ** **** the ******** ** ** ** ***** all ** ***** ****.
********* ***** *** * ***** ******** for ~* ******' ************ ****. ***** claims ********* *** "********* *** **** model" *** ** ***** ******* *****, but ** ** ******* ** **** is * **** **** *** ********* in *** ****** ****.
Current ********* *********** - $*.* ******* ******* ** ****
***** ******** **** ~$*.* ******* ******* in **** ****** ** ** ********** 290x ***-***** ********* ******** ** *****. This ** ********** *********** ** ******* fell **% **** $*.* ** *.* million ******* **** *** ****.
*******, ***** ******* ******* ** $*** million ** ****, ** *** *** revenue ** **** ** **** ****. This ** * **** ********* *********, including ******* *********** ******* **** ****:
*****'* ******** ********* *** *** ******* its ******* ******* ******* **** *** 2020, ****** ************ ** *** *********' effects ** ***** ****** ******* ****** arenas **** ******** *****. ***** **** did *** ***** ***** *** ** expects ******* ** ******** ** **** year, ** ***** ~$** ******* ** the *** ** ****.
Profits ******** ****
*****'* **** ******** **** ~$** ******* USD, ****** $**.* ******* *** *** year. *******, ***** **** ******* ** lose ~$** ******* **** ** ****-****, before ********** * ****** (~$* *******) in **** *** ******* ****** ~*** to $*** ******* ** ****. $** million ** ****** *** *** **** two ***** ** * ***** ***** to *** ** ***** *** ***** hit **** ***** ** ****** ****-****.
Gross ****** ****** ** ***** **% ** ****
***** ******* ***** ****** ******* ** increase **** **% ** **% ** 2021 *** ********** ***** **% ** 2025:
**% ***** ******* ***** ** *************** high *** * ******* **** ***** including *** ********* ****** ** * software ********, ***** ************* *** ** deliver *** ******** ******** **-****.
Potential $* ******* *** ****** ********* *******
*** ** *****'* ***** ****** ** the **** * ***** ** *** eventual **** ** *** $* ******* in ****** ********* *******, ** ***** by **** *****:
*********, $* ******* *** ** * "long-term" ****, *** ***** *** **** that ** ******* "**% ** [****** $600 ******* ******* ** ****] **** be *********," ******* ** ******* ** hit *** ***-**** **** ** ~$*** million *** ** ****.
Motorola ********* ***********
***** ******** ******** ****** ******** ********* was ***** ********** ********** *****'* ************, as ******** ** *** **** * current ***** *********** *** **** *** an *** *********** **** *****. *******, after *** ********** ** **** ****, an ********* **** ******** *********, ********* unnamed, **** ** ** *****'* ***** of *********.
***** ** ** ******* ** * "Motorola ********* ******* ******* ******* ******* by *****":
Channel ******** ***** **-**-****** ********
******** ***** ** **** **** **** directly ** *****, *****'* *** **-**-****** strategy ******* ******* ** ***** ******** and ************* **** ******** ******* ******** as **** ** ****** ********* ******** Stanley ********, ******* ********, *** ******** Solutions. *** ******* ********* *** ** distributors ********** ******, *** ****** ****, Africa, *** ****. ******, *** **** to *** $* ******* *** ** dependent ** *** ******* ** ***** new *********, *******, *** ************ *******, even ***************. ***** ** ***** **** it ***** *** **** ** * large **********, **** ** *** *** Motorola ***, ** ******* *** *****:
********, ** *** **** ** ** $8 ******* ******** *******. **** **** hundreds ** *********** *** ********* ** channel ********, *** **** **** **** us ****** ***** *** ***** **** we ***’* **** *****.
Future ********* ******* ************
***** ** ******* ***** *** ************* to ****** ******* ************, ****** ********** 80 *********** *******. ******** *****'* ******* product **** ******* ****** *** *******, this ******* ***** ***** *** ** the ***** ********* **** ***** ***** to ******:
******* ***** **** ************ ******* ***** companies *** ***** *** ******* **** a ************* ***-**-*** ******** ******* ** be ****.
Temperature *********
***** ******** **** **** ** ***** investor's ****, ****** *****:
** *****'* ******* ********* *************, **** do *** ******** **-******* ****, *** their *********** ** ******* ** ****, showing * **** **** ******* ** their ****** *** ******:
**** ******* *** ** ******** *** elevated **** ***********in ** ******* ** *-* *******
** *** **** ****,**** **** ********* **** ** ****'* test.
2020 ***** & ******** *****
*** ****** ** **** ***** *** a**** ***** & ******** ******** ***** *******. ** **** *********** **********, ***** ***** ***** ********* ****** for ****, *** *** ****** *** to *** ***** ** ******* *** award, ****** ******** ********* ** *** use. ********, *** ****** ***** *** based ** ********** ********. ** ****'* analysis ** ***** ******** **** *** years, **** ****** *** *******.
Competitors *** ***********
**** **** *** ******** **** ****** segment ********* ** ** ****** ***** on *****'* ********* ** ********* *********** here.
*******
** *** **** ****, ****** ****** $500 ******* ** ******* ******** ***** with *** ************ ** ****, ******, and ******* ********* ****** *** *****.
*** **** ******** *** (*) *** high ******* ***** ******** *** (*) Evolv's ******* ********* ***** ****** **** the **** *+ *****.
***** *** ***** ***, ******, *** certainly ****** **** ******* ******** **** a ****** ***** ** ******* ****.
Poll / ****
**** *** **** ** ********* *** Motorola ** ****, *** ********* **** government ********** **** ** ******* *********, and ***** **** ********** ******** *** become *** ** ***-**-***-***.
** * **** **** * ***** now ** **** ** **** ********* who **** ** **** ***** ** hedge ***** ******* *** ***** ** their ******* ********. **** ** ** overly ********* ******* ****** ** **** by **** **** ***** ******* *******.
** ******** ******** ** *** ** the ****** ** *** ****** *** had * **** ****. * ****** on **** ******* ******* ** ** end-users ** **** ** ******* ** Evolv's ******.
** ** ******* - *****'* **** of ***** ****** ** ** ****** (when ***** ****** **** ****) *** it *** **** **** *** ****** to ***** *** ** ***** ** everyone **** ********* ** ** * traditional ****-******* ***** ********. ****** **** kept ******* ** ****** **** ** did *** **** ******** **** **** anyone *** ****** ******* *** ***** required ** **** *** ****** ******** or * ****-**** ***** ******** ******.
*** ***** *** ********* ********* ******** to **** ******* ***** ********. *** typically ****-******* ***** ********, ** ** my *******, ******* ** ******* **** there's ** **** **** *** *********** in **** *****.
* ********** *** *** **** **** equipment *** * *** *** *** Motorola ***** ******** *** ********** ********* to **** **** ******.
********** ***** **** ** ********** *********** or **** **********. ** ***** ** get **** ********** ********* ******* ***** handguns *** ******, *** *********** **** need ** ** *** ** * level ***** ******** ********* ****** (*** downs) **** ***** ** ******** ** speeds **** *** ** ************* ****** than * *********** ***** ********. ****** rucksacks **** ***** **** ** ** through * ******** *-*** *** ******** detection, ***** ******* *** ******* ****.
** *** *** **** ******* ** 30k */* **** ***** ******** ** realistic *** ***** ***** **** ******* that ** ***** *** *** *** of ***** **** ** ****** ***-******** objects (*.*. *** ******* *****), *** it ***** *** ** **** *** a ********* ***** ********. *** **** there’s *** ****** ******* *** ****** projections - *** **** *** **** would ******* **** ** ** **** got ** ******** ** * ***** percentage ** ******** *** *******, *** capability *** **** ************ **** **** that ***.
** *** **** **** **** ***** make *** *** ** **** ******* stock **** **** **** ****** ** NYSE *** *** ******* **** ***** off.
**. ** **** ***** ** *** deeper **** *** ********* ****** ********* space *** ***** **** **** * look ** ******* ***, ***** ******* and ********** *** ******** (*** ****** they *** ****** ** *****!).
#*, ******!
** *** ***** ************ **** ****** / ***** ****** Detection **************% ********** ****** ********* ****** ******* Barriers *******.
*** **** ******* ** **** ***** we **** ***** ****** *** ** these *******, ** ** *** **** any ***** ** ***********.
**** ****** ** ***********! *'** ***** out ** *** ******** ** **** in *****, ******!
******, *** *** **** ***** *******!
****’* *** ***** ***:********** - ***** ***************** **** * ********** ********** (**) project. *** **** ***** ***** ******** was ****** ** ******** ******** *** sensor ** **** ******, *** ** the ****** ******* **** ***** ** have ********* **** *** ** *********** with ******** ****** ** **** ** interesting ** *** *** **** *****.
***** **’* ********* ** ******* **** type ** ******* ******* * *****-** evaluation. ***** **** ** ***** ********* would ******* **** *****...
*** **** *****’* *** ****** ******* and ****** *********** - ***only *** they would achieve this is if they got it deployed at a large percentage of airports and schools, but capability and cost respectively will rule that out.
******* *** ***** ** ** *** and **** **** ** *** ******** disgruntled ****** **** ******** ********
* *** ******* ******* ****/********* ******* as * ********, *** **** *'* on *** ***** **** ** *** fence, * ***'* **** *** ** this "*** *******" ***** ****** **'* the **** ********, ** *** ****** request/insistence.
**********/********** ******** ******** ******* **** ** constantly ******* *** ********* ** ***** and ******** *************** ** **** *** the **********, *** **** ****** **** is **** ***** *** ** *** pot **** ***** **** ********* **** spent ** * ****** ***. *********, sustainment ***** *** ** *** *&* budgets, **** ** *******.
******: **** ******* *** **** ***** to *** *** **********:******* ****/********* *******
** ********* *** ** * * year ********, *** ***** ******* *******? I **** *** **** **** ********* going ********?
****'* * **** ********. **'* *** explained ** *** ******* ** ********. Best ****** * *** *** ** that **** ******** ******** ** * SaaS ***** *** **** ********** ******* them ** **********, ** **** ******* might ** ********** *** **** ** offset ** * ******* ** ***-**** appliance *****.
**** **** ** **** **** ** a ******** ****** ******* *** ********* every ** **** ** *** ******* their ******** (** **** *******).
***** *****. ** ******* *** ***** this **** *** **** ******* ***. Still *** ** ** ******* *** bag ****** (******* ****) ** ******** had * ***** *** ***** ****** temp ********* 😉 :)
*** ***** ****** **** *********
*** ** * ***** ********** *******? ******* ********** ******* **?
***. **** *****. **** *** ********, she **** ******** ** *** ** and *** *** **** **** *** her *********** **** *** ******
*********** - **** ** ***** ******* revenue **** **** *-** **** ****** and *** ********* *** *** *** convert.
******** ********* *** **** ***** ******* mentioned ********'* ********** ** ***** **** week ****** *&* **********'* ** **** ******** ****, ****** ******** ** "********* ** make ****** ***********":
*** **** ***** **** ***** ** another ********** ****** ****** *******. ** were ** ******** ******* ******** * year ** *** *** **** *****.We're ********* ** **** ****** ***********. It's a little bit more consequential. And so when you think about critical infrastructure locations like schools or stadiums or airports or hospitals, Evolv and that partnership around weapons detection is another interesting component to integrate into the suite as we develop our product portfolio and think about a differentiated operating going forward.
***********.
* **** *** *******, *** ***** that's ***** **'** ** ** **** point ** *** ******, *** **** might ** * ****** ****** **'* time. ********* ******* ***** ** *** chance ** ******* ** ********** *****, and ** *** *** *** ******** their ****** ***.