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Evolv Technologies Holdings Inc(EVLV)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for EVLV
10/23/2026: EVLV (1-star) is currently NOT-A-BUY. Pass it for now.
Evolv Technologies is an emerging player in the security industry, known for its AI-driven, frictionless weapon detection systems like Evolv Express. The company's main strength lies in its ability to offer high-throughput security, which is supported by a recurring SaaS revenue model. Its primary investment story centers on the scaling of this technology across public venues, healthcare, and retail sectors. However, investors must consider risks including persistent operating losses, execution challenges, and ongoing regulatory and product performance scrutiny. The stock may best suit growth-oriented investors who can tolerate high volatility while monitoring key developments in customer retention and operational efficiency.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit while signal remains positive | The company is in an expansion phase focusing on scaling revenue and market share in the security sector. |
| Momentum investor | Mixed fit | Momentum appeal depends on the company meeting aggressive growth targets and sustained positive market sentiment. |
| Value investor | Weak fit | The company is not currently focused on profitability or value-based metrics. |
| Dividend investor | Weak fit | The company does not pay dividends and retains all capital for growth. |
| Low-risk investor | Weak fit | High volatility and operational risks make this unsuitable for risk-averse investors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock is susceptible to significant price swings due to its growth-stage nature. |
| Valuation risk | High | Current market valuation places high expectations on future performance and growth. |
| Competition risk (AI detection) | Medium / high | Established players may develop or acquire competing AI-based detection technology. |
| Business quality | Medium | The company is still proving the consistency of its business model and profitability. |
| Dividend income | Low / none | No income is generated for investors from dividends. |
| Execution risk | Medium / high | Successfully scaling operations and managing internal controls are critical for long-term viability. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Moderately Choppy
The stock has experienced noticeable price swings while retaining some directional structure.
Analysis of Past Performance
Type Stock | Historic Profit -19.85% | Avg. Invested days 31 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/23/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 825.61M USD | Price to earnings Ratio - | 1Y Target Price 9.85 |
Price to earnings Ratio - | 1Y Target Price 9.85 | ||
Volume (30-day avg) 2.3M shares | Beta 1.74 | 52 Weeks Range 4.02 - 8.34 | Updated Date 10/23/2026 |
52 Weeks Range 4.02 - 8.34 | Updated Date 10/23/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.03 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Product Sales | Revenue from the initial sale or lease of Evolv Express screening hardware. | The company generates upfront revenue by installing equipment at various venues. |
| Subscription Services | Recurring SaaS revenue for cloud-based software, system updates, and support. | This is the core of the business model, providing ongoing, predictable revenue from installed equipment. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE 43.29 | Enterprise Value 864.64M | Price to Sales(TTM) 4.82 |
Enterprise Value 864.64M | Price to Sales(TTM) 4.82 | ||
Enterprise Value to Revenue 5.04 | Enterprise Value to EBITDA 34.09 | Shares Outstanding 179.87M | Shares Floating 171.84M |
Shares Outstanding 179.87M | Shares Floating 171.84M | ||
Percent Insiders 4.22 | Percent Institutions 70.84 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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