EVOLV TECHNOLOGIES Reports 118.5% Year-Over-Year Revenue Growth for Second Quarter of FY2023
August 22, 2023
☀️Earnings Overview
EVOLV TECHNOLOGIES ($NASDAQ:EVLV) announced their second quarter of FY2023 earnings on August 10 2023, showing total revenue of USD 19.8 million – a 118.5% increase year over year. However, their reported net income for the quarter was USD -66.8 million, a decrease from -25.7 million in the same period the previous year.
Analysis
GoodWhale is an online platform that enables users to analyze the fundamentals of publicly listed companies like EVOLV TECHNOLOGIES. According to GoodWhale’s Risk Rating, EVOLV TECHNOLOGIES is assessed as a medium risk investment in terms of both financial and business aspects. GoodWhale detected 1 risk warning in the cashflow statement, which registered users can access to review. With GoodWhale, users can easily review the financial performance of any publicly listed company and make informed decisions. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Evolv Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 75.82 | -142.28 | -131.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Evolv Technologies. More…
| Operations | Investing | Financing |
| -30.75 | -45.91 | -9.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Evolv Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 307.97 | 163.81 | 0.97 |
Key Ratios Snapshot
Some of the financial key ratios for Evolv Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 111.4% | – | -186.3% |
| FCF Margin | ROE | ROA |
| -101.6% | -50.7% | -28.7% |
Peers
The competition between Evolv Technologies Holdings Inc and its competitors is fierce and ever-evolving. View Systems Inc, Mace Security International Inc, and Central Security Patrols Co Ltd all strive to outdo one another in an effort to provide the best security solutions for their customers. Each of these companies has their own unique approach to innovating and implementing their services, making the competition even more intense.
– View Systems Inc ($OTCPK:VSYM)
Mace Security International Inc is a leading provider of personal defense and security products. The company produces a range of products including pepper sprays, home security devices, door and window alarms, surveillance cameras, and stun guns. With a market cap of 8.44M as of 2022, Mace Security International Inc is a relatively small company in comparison to its competitors. Furthermore, its Return on Equity of -11.64% indicates that the company has not been able to efficiently use its assets to generate profits. While the company is still striving to improve its operations, investors should consider the risks associated with investing in such a small company.
– Mace Security International Inc ($OTCPK:MACE)
Central Security Patrols Co Ltd is a security and surveillance company with a market capitalization of 33.73 billion as of 2022. This company provides security services to businesses and individuals, including armed, unarmed, and guard services. With an impressive Return on Equity (ROE) of 9.28%, Central Security Patrols Co Ltd is one of the most profitable and successful security companies in the industry. The company’s market cap reflects its impressive financial performance and strong management team.
Summary
Investors should closely monitor EVOLV TECHNOLOGIES after their second quarter FY2023 earnings report. The company recorded total revenue of USD 19.8 million, which is a considerable 118.5% increase year-over-year. This caused the stock price to fall on the day of the announcement. Despite the poor bottom line, investors should take into consideration the top line growth and may want to further analyze the company’s financials before making an investing decision.
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