Evolv Technologies third quarter revenue of $47.3M beat estimates as recurring revenue climbed

Evolv Technologies reported third quarter 2026 revenue of $47.3 million, a 10% year-over-year increase that surpassed analyst estimates of $45.6 million. While the company delivered a GAAP net loss of $15.6 million, or $0.09 per share, its non-GAAP adjusted loss was significantly narrower at $2.9 million, or $0.02 per share. Management raised the lower end of its full-year 2026 revenue guidance and increased its Adjusted EBITDA outlook, signaling confidence in its high-margin subscription transition.

Key Highlights

• Annual Recurring Revenue (ARR) grew 20% year-over-year to $140.5 million, outpacing total revenue growth.
• Remaining Performance Obligation (RPO) reached $325.8 million, representing a sequential increase of $13.2 million.
• Full-year 2026 Adjusted EBITDA guidance was raised to a range of $15.5 million to $16.5 million from the previous $15 million to $16 million.
• The company added 51 new customers during the quarter, bringing the total customer base to over 850 accounts.