Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) shares are trading lower on Friday.
Yesterday, the company reported an adjusted loss per share of 9 cents, missing the street view of 7 cents. The company reported quarterly revenues of $21.668 million, missing the street view of $22.999 million.
The company registered Evolv Express subscriptions of 4,882, up 75% year-over-year.
Adjusted EBITDA for the first quarter was $(10.7) million compared to $(15.4) million in the first quarter of 2023.
As of March 31, the company had cash and equivalent worth $81.3 million and no debt.
The company sees FY24 total revenue of $100 million versus the $114.6 million estimate, lower than the prior view of $115 million. Adjusted EBITDA is expected to rise by 40% year over year.
According to Benzinga Pro, EVLV stock has lost over 35% in the past year.
EVLV Price Action:Â Evolv Technologies shares are trading lower by 36.33% to $2.44 at last checked Friday.
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Photo: Illustrated using artificial intelligence with Midjourney
