Evolv Raises Guidance, Stock Jumps, Q2 2023 Financial Results Examined

119% ******* ******

***** ******** $**.* ******* ** ** revenue, * ***% *** ******. *******, the *** **** *** ~$** ******* in *** **** ******* ******** ** ~$25 ******* ** **, ****.

Stock ** ~**% *****

*****'* ***** *** ** **%+ ***** after ** ********* *** **, **** results ***** *** ****** ****** *********.

Raising ******* ******** ***** **** ******

***** ****** ******** *** *** **** full-year *******, ****** ********* ******* (***), and ***** ******* ** *** ****** earnings ****. *** *** ******** ********* a **% - **% ****** ** annual *******, ****** **** *** *******'* previous ********** ** *%-**% **** ******* and *** *%-*% ********** ** *** start ** **** ****.

***** *** **** ***************** ** *** ******* ********:

** ****** ******** ** ******* $** million ** $** ******* ** **** and ******** ** *** ******* ******** of ******* $** ******* ** $** million.

** ****** ** *** **** **** ARR ** ******* $** ******* ** $72 ******* ******** ** *** ******** guidance ** $** ******* ** $** million *** ******** ** $** ******* at *** *** ** ****. **** upwardly ******* ******* ******** *** *** headwind ** *** ******** *** ** the ******** ** ***********.

Gross ****** ******** ** **** *** "**** ************ *****"

***** ** *** ********* ** * pure ************ ********* ****** ***** *****-**** ******* *** more *********** ****-**** *******. ****, *** pure ************ ***** **** **** *** company ******* *** ******, ********* ** Donohue:

** ******** ** ****** ***** ******* to ******* ********** **** *** *** now ******** **% ** **% *** the **** ****, ** **** *** prior ******* ** **% ** **%.

**** ******** *** ******** ********** **** the *********** ******** ** *** **** subscription ******* ***** *** *** ********* forecast ******** ** ******* ******* ** well ** ********* *****(******* ******* *** user) *** ***** *******.

Progress ** ******** ** *** "**** ************ *****"

******* **** ********* **** */* ** its ***** *** ***** *** **** subscription *****, ***** **% **** ****** through *** ************ *************** ****(*** ************-*****):

** *** ****** *******, ****** **% of *** ***** ****** **** *** our **** ************ ******** *****, *** approximately **% ** ***** **** ****** via *** ***** ******** **(******** ****) ************ *****.

******* **** ******** ** *** **** process **** ******** *******:

** ****** ***** ******* ** ******** to ****** ** ****** *** *** CT *********** ***** *********** *** ** continue ** ***** *** **** ******** of *** ******** ** ********* ******* streams.

********* ******** ********* *** ***** *** subscription *****, ******* ********* *** ********* of ********* ****** *****:

*** ******* *** ********** * ***** by *** ****** ** ******** ******** that ** *** *** **** ** a ****** ******** ******** ***** ** run *** ******** ******* *** *** books.

** *** ***** **% ** **** we ******** ** ** ** *** entire **** *** *** ***** *** the ***** ** *** ***** **** of *** ****. **'* ******** **** than ** ***********. *** ** *** because ***** ** ****** *** *** purchase *****.

** **** ***** ******** ** ** certain ******* ** **. *** **'** got **** ********** ** *** ***** point. *** ** ** ****** ***** usage ** *** *** ********** ****** model ** *** **** **** ** the ****. **** ** **** ******, it'll ***** ****** **** **** ** time ********* ** ******* **********. *** we ****** *** ********, *** **** majority, ****** *** ** ** ******* the ** *****.

Cash *********** *********, ********* ** ** ****

******* **** ********* **** *** **** balance *** **** ** $** ******* compared ** *** *** ** **** quarter:

** ***** *** ******* **** $*** million ** ****, **** *********** *** restricted ****, **** ***** $** ******* sequentially. *** ********* ****** ** *** net ****, ******* ******* ** ******* capital ** ******** ** ***** ****** to ******* *** **** ************ ********.

*******, ** ********** *** *******'* ***** of ********* **** $**-$*** ******* ** net ****, ****** *** ********* ******** from *** *** ** ****-**** ********** stated *******'* **, **** ************ ** *** ***** **** ** 2025:

** ******** ** ****** ** **** the **** **** *** **** ** the ***** ** $*** ** $*** million. ** **** **** **** *********** and ****** ** ******* **** ********* in *** ***** **** ** **** with ******* $** ** $*** ******* in *** ****.

*** ***** *** ***** ****** ***** that ******* ** ******** ********* ******* will **** *** **** ******* **** goal:

** ****** ** ******* **** ** our ****** ***** *** **** ***** is ******* ** ******** *** *** and ** ******* **** *** ******** of *** ******* ***** **** ****** us ** ***** **** *********without *** **** ** ***** *** ********** *******. [Emphasis added]

Increased ******** **** *** *****

*****'* ********* ******** **** $**.* ******* in **, ****, ** **** $**.* million ** **, **** *** $**.* million ** **, ****.

******* ********* *** ******** ** *********:

*** ********* ********* *******headcount *********** *** *******-********** ********* *** ** ******** *** ***********. [Emphasis added]

************ ** *** *****, ******* **** more ******* ** *****'* ************ *********:

** ****** *** ******* **** *** employees ******** ** *** ** ***** 31, ****.Most ** *** ****** *** ****** *** ***** ************, including additional sales executives, customer support managers, and technical presale professionals. [Emphasis added]

******* **** ********** *****'* ******* ** cost *********:

** *** ******** ** *** **** that ** *** ** *****. ** feel **** ***** **. **'** ******* on ********* ********** *** ****** ** that ****** ** **** *****. ** are ********* ** *** **** **********. And * ***** **%, *** ** could ** **** * ****** *** better **** **** ** *** ***** ZIP **** ** ** ** ***** now.

Deal **** ********

*****'* *** ****** **** ********* **** the ******* ********* ** *** **** size *********:

** ******** ** *** ******* **** sizes. ** ****, *** ******* **** size *** ** ***** **% ****-****-**** reflecting **** ****** ******* ****** *** unit *** ** ******** ** *** average ****** ** ***** *** ****.

Channel *.* ****** ********

****** ***** ***** *****'* ******* *****, indicating **** *** ******* ********* *** historical ******* **. ****** *:* *********:

** ******** ** *** ************ ******** with *** ******* ********. ***** **% of *** ******** ******** ** *** second ******* **** ******* *** *******.

** ******** ** **** **** *********** with ****** ** ******* ********, ********* Alliance **********, ***** ** * ************ strong ******* ** *** ********* ********. Johnson ********, ********, ******* *********, ***** Security, ****** **********, *** ************ *** many ******.

******* **** **** **** ****** ***** building *** "********" *** *** *** sales *************** *** **** ******* **** process:

** ******** ** ** ****, ****focused ** *** *** ******* ****** ******** ***********, the quality of it, the size of the pipe, we get, we get demand generation, both from marketing from our channel that registered deals themselves. [emphasis added]

** **** * **** ****** ******* there *** **** ** *** ***** guys ** ********* *********. ** ***** three **********, ********** *** ******** *** pipeline, *** ***** *** *** ******* are ** ** **** * ** pipe ***** **** *** **** *******, given *** ******* **** ** ******** to *****, ** **** ****, **** confident **'** ** **** ** **** the ******* ********.

** ***** ***** ** *** *********** in *** **** *******, ****'** ** bringing ******** **** **** ** **** so **'** ***** ** ******** ** hire *********** ****** *** ******* *****, but **** **** ******* ** ********** the ********, *** ********** **** *** quality *** *** ***** ****, *** right *** **'** ******* **** **** about ***** ** ***.

Expansion ***** *******

****** **** ***** **** ************* *** school ********* ***** ***** ** *** time ** *** ****. ** **** gave * ***-******* ****** ** *****'* performance ** *** **** ******* ** its ******* ******** ******** - *******:

*** ********* ******, *****represents ***** **% of our businessin *** ****** ******* **** ** ****** **% ************. Our solutions are now being used to screen about 250,000 students every single day, a tenfold increase from just a year ago. We added nearly three dozen new education customers in the second quarter. We can now be found in 14 of the top 100 school districts in the country. [emphasis added]

****** **** ***** **** ****** ********* are *** ******* ** **. *** company ** ****** ******* ** ***** quarters ** **** ******* *** ****** year ***********:

**** ** *** ***** ** *** second **** ** **** ****, ** that ** ******* **** ***** ********* was ***** ** ** **** ** Q3 *** ** **** ********* ** things **** ************* ****** **** **** tale ** ******** ********.

**** ** ******* **** **** ** that,every ******* ** * **** ******* to keep kids safe. Superintendents were willing to not only place orders, but have us go up and stand up schools over the weekend during a holiday break to keep their kids safe.

It's *** **** *** ****** ***** *******. It's like if they can get the technology and get support from the board to put in systems and they'll put them in as soon as they can get them because they want their kids to be safe. [emphasis added]

****** ********* *** ** **** ********** regulations *** ******* ******* *** ******** but *** *** ******* ********* ***** for *****'* ******** ** ***** ** government ****** *******:

** ***** ** **********, **'** ***** seeing ***** **** *** *** *****, the ***** ***** *** ******* ** make ******** ****** *********.

** ****, * *** **** ** Kentucky, ***** **** *** *** ***** to *** **** *******. ** **** donated *** **** ******* ** **** Evolv ** **** **** **** **** had ******* ** ***** *******. ** we ******** ** *** **** ***** comps *** *** *******. ** ***'* know ** *** *** ******* ****** down. *** **** ** ****** ****** down, **'** ***** ** ********* **** with *** ********* ** **** **** that **** *** **** ********* ** it.

Expansion ** **********

****** ******* *** *****'* ****** ** the ********** ******* ** *** **** quarter, ***** *** ******* *** ******** units ** ~*** ******** *********:

** ******** ** ****** *** ***** leadership ******** ** *** ****** **** market, ***** ******** **** *,*** ********* and ***** **** **% *** ** workplace ******** ***** *****. ** ***** another ** *** ****** **** ********* in *** ****** *******

** *** * **% ********** ******** in ******** ** *** ****** **** business ** **. ** *** *** screening **** ***,*** ******** ******** ***** single *** ******** ** **** **,*** a **** ***.

Sports ****** *********

****** **** ***** ***** *****'* *********** in *** ****** ****** ********:

** ******** ***** ** ** ******* fans ****** ************ ****** ** *** second *******, * ****** ** ******** year-over-year. ** ****** ** ** ********* close ** * ******* ******** **** on *** ***** ****** **** **** when *** **** *** ****** ***** off.

Potentials ** ********** **********

****** *** **** *******, ***** *** not ******* *** ********** ******** ** its ******** ******* ** *** ** 2023 ******** ****. *** ****** ********* the ******* ** *** *&* *******. He ********* *** **** ******* ***** potentially ** ** *** ** ******* for *****:

**'** ************ *** ******* *** ******* on *** **** ********* **** *********, professional ****** *** **********.

**'** ******** ** *** ********** ********** is *** **** *** ******** *** the *******. **'** ******* **** ** those ********** ********* *****. ****'** **** sizeable, ************ **** *****. ***** ***** those ********* **** *** ********** ****** all **** *** ***** ****** *******.

** *** * ****** ** **** in ** ** **** ****. *** I ***** ***'** *** ** ** higher ** ********** ******** ********* ****** like **'** **** ** ***** ***** verticals. *** **** **** ** * big **** ** **** *** ******* mix **** **** **** ** ***** verticals **** ****.

***** ***** ****, *** ** *** that *********** ******** ***** ** *** with ********* *** ******* *****. ** could ** **** ***. ** ****, it's ****** * ****** ********.