Lake Street Raises Evolv Technologies (EVLV) Price Target to $5.5
For Q1, Evolv reported a 44% year-over-year increase in revenue, which reached $32 million. Annual Recurring Revenue grew by 34% year-over-year, reaching $106 million, which showed subscription growth. Evolv successfully retained 92% of eligible education customers and 90% of deployed units.
A security officer in front of a bank vault, representing the companies secure transportation services.
However, the notable shift towards more pure subscription orders; while beneficial for ARR, may result in less upfront revenue recognition. Evolv's market penetration is still in early stages, with its technology deployed in only about 1% of US school buildings and low single-digit percentages in hospitals and healthcare facilities.
Evolv Technologies Holding Inc. (NASDAQ:EVLV) provides AI-based weapons detection for security screening in the US and internationally.
While we acknowledge the potential of EVLV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
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Disclosure: None. This article is originally published at Insider Monkey.
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