Evolv Reports Rapid Growth Across Education, Stadium Security

Evolv Technologies Holdings (Nasdaq: EVLV) reported continued momentum in Q3 2025 as security demand across K-12 schools, hospitals, stadiums and distribution environments fueled record deployments of its Evolv Express and eXpedite weapons detection platforms. The company posted $42.9 million in revenue — up 57% year-over-year — while emphasizing that the most meaningful indicator for long-term growth is its roughly 30% increase in deployed units.

During a Nov. 13 earnings call, President and CEO John Kedzierski framed the quarter as another step toward building “a scalable, high-growth business with predictable performance,” driven by stronger visibility, expanded customer deployments and accelerating adoption of Evolv’s second-generation platform.

School security

Education remained the company’s fastest-growing vertical, with more than a dozen new districts added in Q3 across New Jersey, Michigan, California, Wisconsin, Tennessee, South Carolina, Nevada, Montana, Louisiana, Iowa and Connecticut. Kedzierski said early data shows schools are now deploying Express and eXpedite together “to help streamline security by lowering alarm rates and enhancing the student experience.”

He highlighted several firearm interceptions at school entrances this fall, stating: “In August, at a high school in Nashville, our system identified and helped intercept a loaded handgun at the door… just 2 weeks ago, our solution identified a concealed firearm during morning arrival at a high school in Atlanta.”

This surge includes the company’s largest contract to date — more than 250 units for Gwinnett County Public Schools — which drove approximately $3 million in Q3 revenue.

Healthcare and venues

Hospitals are increasingly adopting Evolv’s systems to enhance visitor and patient ingress while strengthening screening consistency. New health-system wins include WellSpan Health, UC Davis Health, and Seattle Children’s Hospital. Kedzierski said Evolv now screens “hundreds of thousands of visitors daily in medical facilities nationwide.”

In stadium and live-event environments, Evolv added major deployments including:

·  Buffalo Sabres (multiyear agreement, nine Gen2 systems at KeyBank Center)

·  Bank of America Stadium (19 upgraded Gen2 systems plus eXpedite)

·  University of North Carolina at Chapel Hill (athletics venues)

·  Nearly a dozen NFL practice and training facilities

Kedzierski called these deployments “a strong endorsement of our ability to deliver a superior security experience for a variety of entry flows.”

The company’s AI-enabled eXpedite bag screening solution — launched less than a year ago — continues to expand, with 12 new customers in Q3. Kedzierski noted that 11 of those customers also purchased Express, highlighting strong attachment momentum across verticals.

Early field data shows a ~2% alert rate, which Kedzierski said demonstrates “strong promise in balancing detection with the goal of keeping false alarm rates low.”

Evolv also rolled out new upgrades to Express 9.0, eXpedite 1.2, MyEvolv Portal and Evolv Insights 6.0. These enhancements introduce a unified tablet interface for Express + eXpedite, expanded alert tagging, and new sensitivity tuning capabilities. “These improvements are the result of listening closely to our customers,” Kedzierski said.

ARR and fulfillment shift

A major theme of the call was Evolv’s transition away from distribution fulfillment to a direct purchase fulfillment model. Kedzierski explained: “By transitioning away from our legacy distribution model, we now capture 100% of the average revenue per unit.”

This change has simplified channel transactions — “they used to have to buy one solution… by issuing 2 orders,” he noted — and increased long-term ARR by shifting revenue from upfront product sales into multi-year subscription streams.

The company expects ARR to outpace total revenue growth starting in 2026, driven by stable pricing, increasing subscription mix, and a higher proportion of Express + eXpedite deployments. ARR ended Q3 at $117.2 million, up 25% year over year.

Evolv also announced a new manufacturing partnership with Plexus, intended to expand capacity and reduce long-term manufacturing costs across the product portfolio. Kedzierski said the company is “focused on onboarding them… through the first half of 2026,” noting that over time the partnership should deliver “larger scale and the potential of cost synergies.”

CFO George Kutsor added that eXpedite’s current manufacturing costs are subscale — creating a near-term gross margin headwind — but expected to improve materially in 2026.

Evolv raised its 2025 revenue outlook to $142–$145 million, reflecting 37–40% year-over-year growth. Excluding onetime legacy revenue effects, normalized growth is closer to 30%.

The company reaffirmed positive adjusted EBITDA for the year, expects to be cash-flow positive in Q4, and projects high-single-digit full-year adjusted EBITDA margins.

*This article was created with the help of generative AI tools and edited by our content team for clarity and accuracy.