Evolv Technologies Surges On Revenue Jump In Q2, Increased Outlook

Shares of Evolv Technologies Holdings, Inc. (EVLV) are surging more than 24% Friday morning after reporting more than 100% revenue growth in the second quarter. The company also raised its full-year revenue outlook.

Total revenue for the second quarter was $19.8 million, an increase of 119% from last year.

Net loss for the quarter was $66.8 million, or $0.45 per share, wider than $25.7 million, or $0.18 per share loss a year ago.

Excluding one-time items, the company reported loss of $14.3 million or $0.10 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.11 loss per share.

For the full year, Evolv has raised its revenue outlook to $70 million-$75 million from $60 million-$65 million provided earlier. The consensus estimates stands at $64.94 million.

EVLV is at $7.49 currently. It has trade in the range of $1.98 – $7.54 in the last 52 weeks.

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