Evolv Technologies Holdings, Inc. (EVLV) · 10+ Years of Financial statements

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	6	5	23	55	80
+ Sales & Services Revenue	6	5	23	55	80
- Cost of Revenue	5	3	19	53	47
+ Cost of Goods & Services	5	3	19	53	47
Gross Profit	1	1	4	2	34
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	19	28	57	103	122
+ Selling, General & Admin	10	12	45	84	97
+ Research & Development	8	16	11	19	24
+ Other Operating Expense	- -	- -	1	- -	- -
Operating Income (Loss)	-18	-27	-53	-101	-88
- Non-Operating (Income) Loss	1	- -	-43	-15	18
+ Interest Expense, Net	1	- -	6	-2	-6
+ Interest Expense	1	- -	6	1	1
- Interest Income	- -	- -	- -	3	6
+ Other Non-Op (Income) Loss	1	- -	-49	-13	24
Pretax Income	-20	-27	-11	-86	-106
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-20	-27	-11	-86	-106
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-20	-27	-11	-86	-106
- Minority Interest	- -	- -	- -	- -	- -
Net Income, GAAP	-20	-27	-11	-86	-106
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-20	-27	-11	-86	-106
Basic Weighted Avg Shares	142	142	72	144	149
Basic EPS, GAAP	-0.14	-0.19	-0.15	-0.6	-0.71
Basic EPS from Cont Ops	-0.14	-0.19	-0.15	-0.6	-0.71
Diluted Weighted Avg Shares	142	142	72	144	149
Diluted EPS, GAAP	-0.14	-0.19	-0.15	-0.6	-0.71
Diluted EPS from Cont Ops	-0.14	-0.19	-0.15	-0.6	-0.71
EBITDA	-18	-26	-51	-96	-78
EBITDA Margin (%)	-305.58	-539.83	-215.89	-173.81	-97
EBITA	-18	-27	-53	-101	-88
EBIT	-18	-27	-53	-101	-88
Gross Margin (%)	9.44	26.94	17.22	3.13	42.07
Operating Margin (%)	-314.73	-562.09	-228.26	-183.71	-109.35
Profit Margin (%)	-339.67	-572.46	-46.54	-156.55	-132.13
Sales per Employee	- -	- -	135,220	245,311	274,464
Dividend per Share	- -	- -	- -	- -	- -
Depreciation Expense	1	1	3	5	10

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	20	10	331	293	176
+ Cash, Cash Equivalents & STI	17	5	308	230	119
+ Cash & Cash Equivalents	17	5	307	230	67
+ ST Investments	- -	- -	- -	- -	52
+ Accounts & Notes Receiv	1	1	8	35	26
+ Accounts Receivable, Net	1	1	6	32	23
+ Notes Receivable, Net	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	1	3	4
+ Inventories	1	3	3	10	10
+ Raw Materials	1	- -	1	2	2
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	- -	2	2	8	8
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -
+ Other ST Assets	1	1	13	17	21
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	4	11	32	56	123
+ Property, Plant & Equip, Net	4	9	24	46	114
+ Property, Plant & Equip	5	12	27	54	131
- Accumulated Depreciation	1	3	3	8	17
+ LT Investments & Receivables	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	- -	2	8	9	9
+ Total Intangible Assets	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	2	8	9	9
Total Assets	24	21	363	348	299
+ Payables & Accruals	3	6	9	21	21
+ Accounts Payable	3	4	6	18	17
+ Accrued Taxes	- -	- -	2	2	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1	1	1	1	2
+ ST Debt	4	- -	2	11	1
+ ST Borrowings	3	- -	2	10	- -
+ ST Finance Leases	- -	- -	- -	1	1
+ Other ST Liabilities	2	6	14	27	60
+ Deferred Revenue	2	4	7	18	48
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	1	2	7	9	12
Total Current Liabilities	9	12	24	59	82
+ LT Debt	- -	16	8	21	- -
+ LT Borrowings	- -	16	8	20	- -
+ LT Finance Leases	- -	- -	- -	1	- -
+ Other LT Liabilities	74	77	40	41	70
+ Accrued Liabilities	- -	- -	3	18	24
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	73	77	38	24	47
Total Noncurrent Liabilities	74	94	48	62	70
Total Liabilities	83	106	73	121	152
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	8	9	396	419	445
+ Common Stock	- -	- -	- -	- -	- -
+ Additional Paid in Capital	8	9	396	419	445
- Treasury Stock	- -	- -	- -	- -	- -
+ Retained Earnings	-66	-94	-106	-192	-298
+ Other Equity	- -	- -	- -	- -	- -
Equity Before Minority Interest	-59	-85	290	227	146
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -
Total Equity	-59	-85	290	227	146
Total Liabilities & Equity	24	21	363	348	299
Shares Outstanding	142	142	143	145	151
Capital Leases - Total	- -	- -	- -	2	1
Net Debt	-14	12	-298	-200	-67
Net Debt to Equity	23.79	-13.85	-102.51	-88.16	-45.9
Tangible Common Equity Ratio	-239.8	-396.56	80	65.2	48.98
Current Ratio	2.18	0.85	13.61	4.95	2.14
Cash Conversion Cycle	- -	44.75	16.5	99.12	59.46
Number of Employees	- -	- -	173	225	293

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-20	-27	-11	-86	-106
+ Depreciation & Amortization	1	1	3	5	10
+ Non-Cash Items	2	1	-32	12	50
+ Stock-Based Compensation	- -	1	10	22	24
+ Deferred Income Taxes	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	4	3	2
+ Other Non-Cash Adj	1	- -	-45	-13	24
+ Chg in Non-Cash Work Cap	3	2	-17	-6	37
+ (Inc) Dec in Accts Receiv	-1	- -	-10	-25	9
+ (Inc) Dec in Inventories	- -	-1	-3	-8	-1
+ (Inc) Dec in Prepaid Assets	1	- -	-9	-3	-3
+ Inc (Dec) in Accts Payable	1	4	3	9	-2
+ Inc (Dec) in Other	1	1	2	22	33
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	-15	-23	-57	-75	-10
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	-7	-18	-24	-73
+ Acq of Fixed Prod Assets	-1	-7	-17	-21	-69
+ Acq of Intangible Assets	- -	- -	-1	-3	-4
+ Net Change in LT Investment	- -	- -	- -	- -	-51
+ Dec in LT Investment	- -	- -	- -	- -	39
+ Inc in LT Investment	- -	- -	- -	- -	-90
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-1	-7	-18	-24	-123
+ Dividends Paid	- -	- -	- -	- -	- -
+ Net Cash From Debt	5	14	26	20	-30
+ Cash From Debt	5	22	32	30	2
+ Repayments of Debt	-1	-8	-6	-10	-32
+ Cash (Repurchase) of Equity	- -	- -	300	- -	- -
+ Increase in Capital Stock	- -	- -	300	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -
+ Other Financing Activities	23	3	52	1	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	28	17	378	21	-30
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -
Net Changes in Cash	12	-13	303	-78	-163
EBITDA	-18	-26	-51	-96	-78
EBITDA Margin (%)	-305.58	-539.83	-215.89	-173.81	-97
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -
Free Cash Flow	-16	-30	-74	-99	-82
Free Cash Flow to Firm	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-16	-47	-76	-109
Free Cash Flow per Basic Share	-0.11	-0.21	-1.04	-0.69	-0.55
Price/Free Cash Flow	- -	- -	-8.32	-7.26	11.74
Cash Flow to Net Income	0.76	0.85	5.22	0.86	0.09

Evolv Technologies Holdings, Inc.

EVLV US

2.40

2.40