Business

Evolv Technology Announces that 92% of Customers1 Eligible to End Contracts Elect to Stay with Evolv

WALTHAM, Mass., March 31, 2025--Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) (the "Company"), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today announced the expiration of the previously disclosed 60-day cancellation period, under which a limited number of the Company’s K-12 education customers could cancel the remainder of their subscription contracts with the Company as part of Evolv’s resolution with the United States Fede

articleEvolv Technologies Holdings, Inc.March 31, 20257/company/evolv-technologies-holdings-inc/news/evolv-technology-announces-92-customers1-120000248
Evolv Technology Announces that 92% of Customers1 Eligible to End Contracts Elect to Stay with Evolv

About this update from Evolv Technologies Holdings, Inc.

[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":781,"height":282,"url":"https://media.zenfs.com/en/business-wire.com/88b7b654155f006f16ffe6daf0acb195"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/rKlGGuAd6KntkW0bqR.5PA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTM0NztjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/88b7b654155f006f16ffe6daf0acb195","width":781,"height":282},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/epS8JuL.0HKe6CrRFHSEnQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTE1NjI7aD01NjQ7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/88b7b654155f006f16ffe6daf0acb195","width":781,"height":282}},"lazy":false},{"type":"text","content":"FTC-Related Cancellation Period Closes as Value of Evolv Express to Education Customers Remains Strong","length":102,"tagName":"p","attribs":{}},{"type":"text","content":"ARR2 and Unit Impact of Cancellation Program Minimal, Currently Estimated at $445 thousand and 24 Units, respectively","length":117,"tagName":"p","attribs":{}},{"type":"text","content":"Evolv Remains Committed to Innovation, Integrity and Customer Trust","length":67,"tagName":"p","attribs":{}},{"type":"text","content":"WALTHAM, Mass., March 31, 2025--(BUSINESS WIRE)--Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) (the "Company"), a leading security technology company pioneering AI-based solutions designed to help create safer experiences, today announced the expiration of the previously disclosed 60-day cancellation period, under which a limited number of the Company’s K-12 education customers could cancel the remainder of their subscription contracts with the Company as part of Evolv’s resolution with the United States Federal Trade Commission (FTC).","length":554,"tagName":"p"},{"type":"text","content":"Of the 65 education customers (representing 237 Evolv Express units) who were eligible for contract cancellation, a total of 60 customers (92%) representing 213 Evolv Express units (90%) elected to retain their contracts with Evolv. Importantly, four of the 65 eligible customers expanded their use of Evolv Express by adding a total of 10 additional units acquired since the Company announced its resolution with the FTC. Netting the expansion and cancellation activity since the Company announced its resolution with the FTC...

More updates from Evolv Technologies Holdings, Inc.

eligible customersEvolv ExpressWyoming Valley West School DistrictEvolv Technologies Holdings, Inc.Evolv Technologyannual recurring revenueThe Companyeducation customersExpress systemsARR