Subscription & Circulation was Evolv Technologies Holdings’s largest product and service line in fiscal 2025, bringing in $251.52M of $525.84M (48%).
| Product and Service | FY 2020 | FY 2021 | FY 2021 | FY 2022 | FY 2022 | FY 2023 | FY 2024 | FY 2024 | FY 2024 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subscription & Circulation | — | $21.03M | $29.57M | $43.51M | $91.22M | $53.73M | $195.14M | $251.52M | |||
| Subscription Revenue | $9.01M | — | — | — | — | — | — | — | |||
| Service Revenue | $1.50M | — | — | — | — | — | $70.40M | $88.13M | |||
| Saas, Maintenance, & Other Revenue | — | — | — | — | — | — | — | — | |||
| Leased Equipment | — | — | — | — | — | — | — | — | |||
| License Fees | — | — | — | — | — | — | $21.54M | $24.23M | |||
| Service | — | $3.32M | $13.04M | -$396.00K | $32.81M | $18.26M | $70.40M | $88.13M | |||
| Product | — | $28.07M | $10.37M | $4.47M | $10.34M | $4.03M | $19.39M | $64.91M | |||
| Product Revenue | $15.58M | — | — | — | — | — | — | — | |||
| Professional Services & Other Revenue | — | — | — | — | — | — | $5.12M | $8.94M | |||
| License Fee & Other Revenue | — | $1.17M | $6.91M | $3.66M | $9.80M | $6.07M | — | — | |||
| Saas & Maintenance Services | — | — | — | — | — | — | — | — | |||
| Professional Services | — | — | — | — | — | — | — | — | |||
| Lease Revenue | — | — | — | — | — | — | — | — | |||
| Total | $26.10M | $53.60M | $59.88M | $51.24M | $144.17M | $82.08M | $382.00M | $525.84M |
Evolv Technologies Holdings brought in $525.84M from its six product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 37.7% from $382.00M in fiscal 2024. Subscription & Circulation was the largest at $251.52M (47.8%), ahead of Service Revenue at $88.13M (16.8%) and Service at $88.13M (16.8%). The other three lines brought in $98.07M combined.
Compared with fiscal 2024, Product grew fastest, up 234.7% to $64.91M. Every line above 2% of revenue grew.
Evolv Technologies Holdings began breaking out License Fees in fiscal 2024 and Professional Services & Other Revenue in fiscal 2024. Evolv Technologies Holdings stopped reporting Product Revenue ($15.58M in fiscal 2022), Subscription Revenue ($9.01M in fiscal 2022) and License Fee & Other Revenue ($6.07M in fiscal 2024) as separate lines.
United States was Evolv Technologies Holdings’s largest region in fiscal 2025, bringing in $421.96M of $437.72M (96%).
| Geography | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| United States | $153.95M | $233.11M | $299.99M | $421.96M | |
| Foreign | $4.21M | $5.59M | $11.61M | $15.76M | |
| Total | $158.16M | $238.70M | $311.60M | $437.72M |
Evolv Technologies Holdings brought in $437.72M from its two regions in fiscal 2025, the year ended December 31, 2025. That is less than the $525.84M it reports by product and service, so these regions do not cover all of its revenue. United States was the largest at $421.96M (96.4%), ahead of Foreign at $15.76M (3.6%).
Compared with fiscal 2024, United States grew 40.7% to $421.96M and Foreign grew 35.7% to $15.76M.
As Reported was Evolv Technologies Holdings’s largest revenue line in fiscal 2024, bringing in $232.84M of $235.83M (99%).
| Restatement | FY 2021 | FY 2021 | FY 2022 | FY 2022 | FY 2022 | FY 2022 | FY 2023 | FY 2023 | FY 2024 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| As Reported | — | — | — | $27.21M | $49.59M | $95.96M | $26.26M | $111.74M | $43.51M | $232.84M |
| As Previously Reported | $7.51M | $41.75M | $15.58M | — | — | — | — | — | — | — |
| Adjustment | -$213.00K | -$39.00K | -$15.00K | — | — | $1.26M | $10.20M | -$186.00K | $1.66M | $2.99M |
| Total | $7.29M | $41.71M | $15.57M | $27.21M | $49.59M | $97.21M | $36.46M | $111.56M | $45.17M | $235.83M |
Evolv Technologies Holdings brought in $235.83M from its two revenue lines in fiscal 2024, the year ended June 30, 2024. That was up 422.1% from $45.17M in fiscal 2024. As Reported was the largest at $232.84M (98.7%), ahead of Adjustment at $2.99M (1.3%).
Evolv Technologies Holdings began breaking out As Reported in fiscal 2022, when it brought in $27.21M. Evolv Technologies Holdings stopped reporting As Previously Reported as a separate revenue line after fiscal 2022, when it brought in $15.58M.
Evolv Technologies Holdings (EVLV) reports its revenue by product and service, by geography and by restatement. In fiscal 2025, Subscription & Circulation was its largest product and service line, bringing in $251.52M (47.8% of the total), followed by Service Revenue at $88.13M (16.8%).
Subscription & Circulation was Evolv Technologies Holdings' largest product and service line in fiscal 2025, bringing in $251.52M, or 47.8% of the $525.84M total across its six product and service lines.
United States was Evolv Technologies Holdings' largest region in fiscal 2025, bringing in $421.96M, or 96.4% of the $437.72M total across its two regions.
As Reported was Evolv Technologies Holdings' largest revenue line in fiscal 2024, bringing in $232.84M, or 98.7% of the $235.83M total across its two revenue lines.
Among Evolv Technologies Holdings' product and service lines that make up at least 2% of revenue, Product grew fastest in fiscal 2025, up 234.7% from $19.39M to $64.91M.
Every figure comes from Evolv Technologies Holdings' annual financial filings, as reported. Each line keeps the name Evolv Technologies Holdings gives it, and years follow its fiscal calendar.
Evolv Technologies Holdings' revenue by product and service goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.