Evolv Technologies (EVLV) investor relations material

Strategic vision and market opportunity

• Focus on scaling growth over the next decade by making public spaces safer through advanced, AI-powered weapons detection technology, aiming to become the standard for security screening in everyday venues beyond airports and courthouses.

• Operates in a large, under-penetrated market with hundreds of thousands of venues and a total addressable market of 700,000 entryways, with significant growth opportunities in education, healthcare, sports, and industrial workplaces.

• Recurring revenue model underpinned by long-term (four-year) contracts, with over $127 million in annual recurring revenue and nearly $300 million in remaining performance obligations as of Q1 2026.

• International expansion is a priority, with less than 4% of revenue currently from outside the U.S., and deliberate investments planned to grow global sales and service coverage.

• Legislative trends and mandates in states like California and Georgia are driving adoption, with the company planning to increase advocacy and education efforts among lawmakers and decision-makers.

Product innovation and technology leadership

• Proprietary hardware and software, integrated with advanced AI and cloud connectivity, form a durable technology moat, enabling real-time, high-throughput screening with low false alarm rates.

• Significant R&D investment ($100 million to date, $20 million in 2026) supports continuous innovation, including the launch of the eXpedite bag screening product and ongoing improvements to the Express people screening system.

• AI models are trained on extensive real-world data from over 9,000 deployed units, screening 4 million+ visitors daily, with a focus on reducing false alarms and enhancing detection accuracy.

• Cloud-based fleet management enables remote diagnostics, software updates, and integration with partner systems, supporting operational efficiency and customer value.

• The company’s North Star is “invisible security,” aiming for seamless integration of security technology into daily life without disrupting user experience.

Go-to-market strategy and customer engagement

• Multi-channel sales approach combines direct sales, channel partners, and vertical market teams focused on education, healthcare, sports, and industrial sectors.

• High-touch service model includes white-glove on-site support, comprehensive customer training, and ongoing software updates, driving high customer satisfaction and loyalty.

• Marketing leverages data-driven, closed-loop demand generation, with targeted outreach, demo trucks, and content marketing to accelerate adoption and expansion.

• Customer expansion is strong, with 32% of customers expanding their initial investment and a third of those expanding three times or more.

• Customer testimonials highlight reliability, ease of use, and positive impact on safety and operational efficiency in schools, hospitals, sports venues, and museums.