Evolv Technology
Evolv Technology (NASDAQ: EVLV) provides AI-powered touchless security screening systems — Evolv Express and Evolv eXpedite — that detect concealed weapons and screen bags via computer vision as people walk through at natural pace. It sells multi-year subscription agreements to professional sports venues, K-12 schools, universities, healthcare systems, and entertainment arenas across 1,200+ customers.
- Company typePublic
- Founded2019
- HeadquartersWaltham, United States
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
What Evolv Technology does
Evolv Technology is a publicly traded (NASDAQ: EVLV) provider of AI-powered touchless security screening systems headquartered in Waltham, Massachusetts. The company's core products — Evolv Express® for concealed weapons detection on people and Evolv eXpedite™ for autonomous bag screening, both complemented by Evolv Insights® analytics dashboards — use computer vision and machine learning to identify threats as individuals walk through at natural pace, without requiring them to stop or remove personal items. Both core products have received U.S. Department of Homeland Security Qualified Anti-Terrorism Technology (QATT) designation under the SAFETY Act, providing federal liability protections that constitute a meaningful regulatory moat.\n\nThe company sells multi-year subscription agreements that bundle hardware deployment with software licenses, primarily through a direct enterprise field sales motion targeting professional sports venues, university athletics programs, K-12 school districts, healthcare systems, and entertainment arenas. The customer base spans 1,200+ organizations including 60+ professional sports teams, 1,300+ K-12 school buildings, and flagship deployments at Bank of America Stadium, Citizens Bank Park, Crypto.com Arena, and the University of Washington. Channel partnerships with AEG Global Partnerships (venue broker), Alliance Technology Group (K-12 implementation), and Plexus Corp (global manufacturing) extend commercial reach and supply capacity, while an American Hospital Association partnership supports healthcare vertical expansion.\n\nFY2025 revenue reached $145.9M, up 40.5% YoY, with Q1 2026 revenue of $46.3M (+45% YoY) and Q1 2026 ARR of $127.3M (+20% YoY). The company has guided FY2026 revenue to $175–180M and ending ARR to $145–150M, backed by five consecutive quarters of positive Adjusted EBITDA ($11.1M FY2025). Q4 2025 gross margin compressed to 50% from 62% as Evolv transitioned to direct hardware fulfillment, partially offset by improved total gross profit over contract life. Notable overhangs include a 90.4% stock decline over the trailing year and a proposed $15M settlement of a securities class action covering the 2021–2024 period.
Evolv Technology firmographics
Firmographics- Name
- Evolv Technology
- Legal name
- Evolv Technologies Holdings, Inc.
- Website
- https://evolvtechnology.com
- Company type
- Public
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Evolv Technology (NASDAQ: EVLV) provides AI-powered touchless security screening systems — Evolv Express and Evolv eXpedite — that detect concealed weapons and screen bags via computer vision as people walk through at natural pace. It sells multi-year subscription agreements to professional sports venues, K-12 schools, universities, healthcare systems, and entertainment arenas across 1,200+ customers.
- Ownership category
- akta.pro rank
Where Evolv Technology is headquartered
LocationHeadquarters
- HQ city
- Waltham
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Evolv Technology business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain
Revenue model
- Hardware and Software Subscriptions: Multi-year subscription agreements combining hardware deployment with software licenses. Hardware systems are deployed at customer venues under subscription model. Transition to direct hardware fulfillment creates near-term gross margin headwinds but increases total gross profit over contract life.
- Annual Recurring Revenue (ARR): Recurring subscription revenue from deployed systems. Q1 2026 Ending ARR of $127.3 million, up 20% year-over-year. 2026 expected ending ARR of $145-150 million.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise subscription model with hardware and software components |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Evolv Technology product offering
Product offeringCore offering
Evolv Technology manufactures and deploys AI-powered touchless security screening systems that detect concealed weapons as people walk through at natural pace. Its two core products, Evolv Express® for people screening and Evolv eXpedite™ for autonomous bag screening, are sold primarily via multi-year enterprise subscriptions to professional sports venues, K-12 schools, universities, healthcare facilities, and corporate offices. Supporting offerings include Evolv Insights® analytics dashboards and an Open API for integration with access control, mass notification, and video management systems.
Product overview
Evolv Technology offers a unified platform of AI-powered security screening solutions built around two core products: Evolv Express® for concealed weapons detection (people screening) and Evolv eXpedite™ for autonomous bag screening. These are complemented by Evolv Insights® analytics dashboards for operational optimization and the Screened by Evolv™ Seal program for customer trust signals. The portfolio works as an integrated system where eXpedite augments Express by adding autonomous bag screening as people walk through, enabling comprehensive threat detection without slowing pedestrian flow.
Differentiator
Problem solved
Functional benefit
Brands
- Evolv Express®: AI-powered concealed weapons detection system that helps detect concealed weapons as people walk through. Primary product for fan/person screening at venues.
- Evolv eXpedite™
- Evolv Insights®
- Screened by Evolv™
Products and services
- Evolv Express® AI-powered concealed weapons detection system that identifies weapons hidden under clothing as people walk through at their natural pace. The primary detection platform deployed at venue entrances across stadiums, arenas, schools, hospitals, and corporate offices; screens people without requiring them to stop or remove personal items.
- Evolv eXpedite™ AI-powered autonomous bag screening solution that provides x-ray-like bag screening as people walk through Evolv Express. Complements Evolv Express for complete entry screening and has screened over 20 million bags across school districts, professional sports venues, hospitals, and other venues since its 2024 launch.
Quantifiable outcome
- Screens 4 million+ people daily, surpassing TSA volume in 2025
- +6 more outcomes
Companies that use Evolv Technology
Customer profileNamed customers15 records
Segments6 records
Ideal customer profiles4 records
Evolv Technology technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability4 records
Feature7 records
Evolv Technology partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered flagship, core and minor.
- Philadelphia PhilliesflagshipMulti-year partnership renewal continuing Evolv Express at Citizens Bank Park with fleet upgrade to Gen2 hardware. Nearly 12 million guests screened since 2023. Evolv designated as Preferred Fan Screening Partner with preserved marketing partnership.
- University of Washington AthleticscoreMulti-year subscription agreement and marketing partnership deploying Evolv Express Gen2 at Husky Stadium (70,000-seat) and Alaska Airlines Arena (10,000-seat). Evolv designated as Official Fan Screening Partner of UW Athletics. Expands presence in university sports sector and Pacific Northwest.
- Omnigo SoftwarecorePartnership to enhance threat detection and incident management capabilities through integration with Omnigo's security management platform.
- Crypto.com ArenaflagshipMulti-year renewal and expansion of hardware and software subscription agreement extending Evolv Express deployment and adding Evolv eXpedite bag screening. Evolv continues as Official Fan Screening Partner. Agreement brokered by AEG Global Partnerships.
- Houston AstroscoreExpanded partnership agreement to upgrade to latest technology and add eXpedite systems for bag screening at the ballpark.
- Bank of America StadiumflagshipRenewed and expanded agreement upgrading nearly 20 Express screening systems to Gen2 hardware and adding Evolv eXpedite bag screening. 93% average clear rate achieved over four years. Renewal ensures deployment before Charlotte FC home opener March 7, 2026.
- Miami Freedom ParkcoreDeployment of Evolv Express Gen2 and Evolv eXpedite at new 25,000-seat stadium for Inter Miami CF opening April 4, 2026. Evolv designated as Official Fan Screening Provider with brand presence on match days and year-round on venue digital media.
- University of North Carolina AthleticscoreMulti-year subscription deploying 14 Evolv Express Gen2 systems (9 dual lane and 5 single lane) at Dean E. Smith Center, Kenan Stadium, and Carmichael Arena. Includes joint marketing and community outreach initiatives. UNC designated Evolv as Official Fan Screening Partner.
- FC Cincinnati / TQL StadiumcoreVenue-wide installation of seven Evolv Express systems at TQL Stadium for all fan and staff entrances. Evolv designated as Official Fan Screening Partner of FC Cincinnati and TQL Stadium. Operational for 2026 season starting February 21.
- East Baton Rouge Parish SchoolscoreExpanded partnership deploying Evolv Express to eight additional high schools, bringing total to twelve schools. Deployment managed through partner Alliance Technology Group. District replaced traditional walk-through metal detectors.
- Pechanga Arena San DiegocoreEvolv Express deployment at major sports and entertainment venue in Southern California to enhance threat detection and improve visitor entry experience.
- Plexus CorpcoreStrategic contract manufacturing partnership announced November 2025 to enhance manufacturing capacity, supply chain strength, and support global expansion. Collaboration leverages Plexus's global manufacturing network spanning 26 facilities with over 20,000 employees to meet rising demand for security screening products and achieve long-term cost savings.
- Stern Grove FestivalminorAI-based weapons detection deployment at San Francisco outdoor event for enhanced security.
- American Hospital AssociationcoreStrategic expansion into healthcare sector through partnership with American Hospital Association for hospital security deployments.
- AEG Global PartnershipscorePartnership brokered by AEG Global Partnerships to facilitate venue relationships and manage renewal negotiations for professional sports venues.
- Alliance Technology GroupcoreImplementation partner managing Evolv Express deployment for K-12 school district customers including East Baton Rouge Parish Schools.
Scale indicators28 records
Recent moves6 records
Expansion highlights6 records
Evolv Technology competitors and assessment
Company assessmentBroad incumbents
- OSI Systems (Rapiscan Systems): Major security screening incumbent via its Rapiscan Systems subsidiary, offering metal detectors, X-ray baggage screening, and walk-through portals for aviation, government, and high-security facilities.
- Motorola Solutions: Existing Evolv investor and broad incumbent in public safety and enterprise security. Offers CommandCentral software, body cameras, and radio communications that increasingly integrate with weapons detection systems.
- Smiths Detection: Global leader in threat detection and screening technologies for aviation, ports, border protection, and urban security. Competes in walk-through metal detection and AI-enhanced screening categories.
- L3Harris Technologies: Defense and security technology provider offering personnel screening solutions including millimeter wave and X-ray-based detection systems for government, transportation, and high-value facilities.
- Axon Enterprise: Law enforcement technology platform with body cameras, TASER weapons, and digital evidence management. Evolv's new board director Henrik Küchl is a SVP at Axon, signaling potential adjacency in public safety technology.
- CEIA: Italian manufacturer of metal detection equipment including walk-through magnetometers used in airports, courthouses, schools, and event venues. Long-established incumbent that Evolv's AI technology is positioned to displace.
Direct peers
- Liberty Defense Holdings: Direct competitor offering HEXWAVE, an AI-enabled walk-through weapons detection system using millimeter wave and AI. Targets similar venue security use cases including stadiums, schools, and corporate offices.
- Thruvision Group: UK-based provider of passive terahertz standoff people screening technology for customs, aviation, and public venues. Offers an alternative technical approach to touchless concealed weapon detection.
Emerging players
- Patriot One Technologies: Emerging AI security screening company developing weapon detection solutions for venues and facilities. Competes in the same walk-through AI weapons detection category as Evolv Express.
Regional players
- Nuctech: Chinese-owned security inspection equipment provider offering walk-through metal detectors, baggage scanners, and AI-enhanced screening. Primarily serves Asia, Africa, and Latin American markets competing in similar venue security use cases.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Evolv Technology social profiles
Digital presenceEvolv Technology compliance and trust
Trust signalCompliance1 record
Evolv Technology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Evolv Technology leadership team
Management profileNumber of profiles
Profiles11 records
Evolv Technology funding detail
Funding detailFunding overview
Funding rounds11 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Evolv Technology M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Evolv Technology
What does Evolv Technology do?
Evolv Technology manufactures and deploys AI-powered touchless security screening systems that detect concealed weapons as people walk through at natural pace. Its two core products, Evolv Express® for people screening and Evolv eXpedite™ for autonomous bag screening, are sold primarily via multi-year enterprise subscriptions to professional sports venues, K-12 schools, universities, healthcare facilities, and corporate offices. Supporting offerings include Evolv Insights® analytics dashboards and an Open API for integration with access control, mass notification, and video management systems.
Is Evolv Technology a public or private company?
Evolv Technology is a public company. It is classified as public and is currently operating.
When was Evolv Technology founded?
Evolv Technology was founded in 2019. It employs 251 to 500 people.
Where is Evolv Technology based?
Evolv Technology is headquartered in Waltham, United States, in the North America region.
How does Evolv Technology make money?
Two revenue lines are on record. Hardware and Software Subscriptions are the primary driver. The others are annual Recurring Revenue (ARR).
Who are Evolv Technology's main competitors?
Broad incumbents on record are OSI Systems (Rapiscan Systems), Motorola Solutions, Smiths Detection, L3Harris Technologies, Axon Enterprise and CEIA. Direct peers are Liberty Defense Holdings and Thruvision Group. Patriot One Technologies is listed as an emerging player. Nuctech is listed as a regional player.
Does Evolv Technology have an API?
Yes. Evolv offers an Open API that allows integration from Evolv Express to various endpoints for layered security. The API enables third-party systems to connect with Evolv's security screening platform.