EVLV - Evolv Technology boost FY23 earnings guides Q3 revenue ahead of consensus

2023-10-12 07:16:21 ET

• Evolv Technology ( NASDAQ: EVLV ) reports prelim Q3 revenues in the range of $19.3M to $19.8M vs. $16.86M consensus, Ending ARR to range between $65.5 million to $66.0 million.
• Q3 net additions to range between 620 to 625.
• Gross margin to range between 56% to 57%.
• Adjusted gross margin to range between 57% to 58%.
• The company also raised FY23 revenue to $75-$77M from prior guidance of $70M-$75M
• FY23 ending ARR at $73M-$75M from prior guidance of $70M-$72M.
• Adj EBITDA loss of $50M-$53M from prior loss of $52M-$56M.
• The Company will report final financial results on November 9, 2023 after the market closes.
• Source: Press Release

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