Evolv To Stop Selling "Purchased Subscriptions"
**** ** **** ********* **** *** Evolv ***** ** **** **** **** but ** ********** ** ****** *** want ** ********, *** *********** **** products.
***** ****** ****** *** *******:
(*) * "**** ************" ** ~$*,*** per ***** **** * *-**** ******** and $*,*** *** ***** **********.
(*) * "********* ************" **** ~$**,*** paid ******* *** $*,*** *** ***** for * *-**** ******** **** $*,*** per ***** **********.
***, ***** ****** **** *** *** expect ** **** ** ***** ********* to **** *** "********* ************" ****** and **** **** *** *********** **** option ** ***** ********* ** *** more ****-**** ********** "**** ************" *****.
******** ** ****, ***** **** **** offer **** ************* ******* *********:
** ** ***'* ** ******** *** ability ** *** *** *******, *** only *** *** ****** ******* * subscription *****. *** **'** ****, **** confident **** ** *** *** **** of *** ********* ********* **** ** really ***** **** ****. ** **** subscription **** ******** ** ***** ** allow ** ** ***** **** **** the ************ *****. *** **'** ******* about **** ****'* ***** ** ** to *** ***** *******, *** ************ RPO *** *** ******* ** *** SAS ***** **** ** **** *****.
[****: **** **** *** ********** ******** in ****** **** *** ******* ** November **** **** ***** ********* *** plan *** **** ************* ******** ** 2023.]
****** **** ******** ****, ** ******* the *********** ************* ** ***** *** options, *** *** *********** ****** ** selling ****** **** *** ***** ******.
Profitability ********
*** *** ***** * *****, *** revenue *** **** ******* ** *********** equal *** *** "*********" *** ** beneficial ** **** ** ******** ***** greater *****-**** **** **** (****** ***** has ~$*** ******* **** ** **** so **** ** *** * ***** factor). *** ******* ** *********** ***** because "**** ************" ** $*,*** * 48 ****** = $***,*** ***** "********* subscription" ** $**,*** + ($*,*** * 48) = $***,***.
**** ***** * *** *****, "********* subscription" ********* **% ***** ******* *** far **** *************. ******** * **-**** lifespan (****** ********** *** ************** ********* like ******* *********), **** "**** ************" the ******* ** $***,*** ($*,*** *** month * ** ****** * * years) ***** **** "********* ************" *** revenue ** **% **** ** $***,***. Moreover, ***** *** ********* *** **** been **** ***, *** ***** ****** profitability ** **** ****.
Valuation ******
********** **** ***** ***** (*** ********'* sake, ** **** *****), "********* ************" units ****** ******* ** ***** * 50% ***** *********, ***** *** ***** reduction ** ****-**** ******* *** ***** profit.
Discontinuing "********* ************"?
** *** ** **** ********'* ****, ***** ******** **** *** **** a ******* **** **** ********* ********* their ***** **** ** **** *** "pure ************" *** *********** **** ************* "purchased ************", ******:
**'** ***** ** **directing *** *********** *** *** ******* to lead with subscription only in the back half of the year and maybe **** ***** **** **** ****, we'll see.
** ** ***** ** *** **** half ** *** ****, **'** ***** todirect *** ********* more towards full subscription and not purchased subscription. And because we had such a strong Q2 in purchased subscription, it drove the revenue number up. But we don't think that that's going to be the future back half of the year or what we'll want to do in 2023. [emphasis added]
Unexpected ** *****
*****'* *** ******** **** ***** **** expected ********* **** ** - **% to *** "********* *************", ** *** roughly **** ** *** ******:
***** ** ***** ***** **% ** our ***** ***** ** -- ** didn't ****** ****. *** ** *** planned *** ********* * *** *******.
** *** *** *** ***** **:**. We ****** **** ** ****** *** lean ******* ******* ************. *'* **** it ** ** **** **** **:** or **:** ** **** *** **'** going ** **** *** *** ***** in *** **** **** ** ****.
School ******
** **********, ***** ****** **** "********* subscription" ********** ** *** ****** ******** market, ***** ** ******* *** ** school *********, ****** **** ********* ** more *********** ** "******* **************":
****** **% ** *** *** **** from *** ********* ********.
*** ********* ****** ******** *** ***** rate ** ************ ** **** ****** boards *** ****** ********* ********* ********* their ******** **********, ********* *** *** upcoming ****** **** *** ****** ********* of ********* ******* *****. **’** ****** a ****** ** ****** *********** ****** in *** ********* ******.
Security ****** ****-**** ********** *** ******
************, ******** ****** ****** ***** ********, from ******* ** ******* ** ***** detectors, ******** **** ****** **** *** owned *** *** **** ** *** product.
**** ** * ****-*********** ********** *** security ****** *** ****** ** **, where **** *** ****** **** ********, subscriptions *** **** ********* ***** *** security ****** ******* ** ****** **** and ******.
*** **** **** ** **** ***** buyers **** ** ******** *** ******* is *** ********** ** ** *** reinforces **** ****-******** ********.
**** **** *************, *** "********* ************" is * ****** **** *** ****** since **** ******* ****** *** **** amount ** ***** *** *** ***** 4 ***** *** *** "*********" ****** provides *** ****** ** *** **% less ** ***** * *** ******.
CEIA *********** ***** ***-**** *** ***** ****
** **** *** ******, *****'* ******* success **** ** ******* ******** ** how *** **** ****** *********** ******.
*****'* ******* **********, **** (********** ***** ******** ******* **** ** Massively **********), ***** ******* "******* *********" ******* for * ******** ** *****'* ***** with ** ************ ******** (*.*., ******** at ~$**,***). **** *** *** **** deals ******* *****, *.*.,**** ***** ***** *** ******** ****** District.
Evolv ******** *****, *********, *** *******
***** *** * **** ****** ********* in *****, ********* *** ******* ****** CEIA *** *** ***** *********** ** this *******. ****, *** ** *** biggest **********, *** * ******** ***** team *** **** ** ********** ********* adverse *** *** ** ************* *******.
** ********, ***** *** * ******* billion ******* ** ****, *** ***** real ************ **** ***** ******** ******* (most ******* ********) *** *** * no-shame ******* **** *** ********* ******* attention (*** **** *****) **** **** and ***.
*** ****** ** **** ** **** Evolv ** ***** ** ** ** far **** ***** **** *** ** its *********** *** **** ***** *** deals ******* *** ****** **** ***** considered. ****, ** *** ****** **** rivals *** **********, *****'* ******** ************ and ****** **** (*** ******* ***** secrecy ****** ** ********* ***** ***** systems *** ********) ***** **** **** buyers **** ** **** *********** ********** Evolv **** ** ** ** ** multiples ** ***** *******.
Risk ** ******* "**** ************" ****** ** ***********
*******, *** ********* **** ****** ********* to *********** ** ******* ************* ****** prices. ** *****'* *** ******, ***** next **** **** **** **** "**** subscription" *** *** **** ** ***** customers, **** ** ****** ** ** viewed *********** *** *********** * ***** increase.
** *** ****** **** ***** ** viewed ** ********* ** *** **** viable ******, **** **** *** ** profitable *** *****. *******, ** **** increases *** *********** *** **** ****-****** competitors ** ** ********* **********.