Evolv Technologies Hldgs Inc (EVLV) said after close Thursday that it lost $0.08 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $20.2 million, beating estimates by $1.1 million.
In the same quarter a year ago, the company lost $0.13 per share on revenue of $16.5 million.
The stock is up 2.3% to $4.00 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 52. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Evolv Technologies Holdings Inc offers an AI-based touchless security screening. Its touchless security screening systems use artificial intelligence software, cloud services, and advanced sensors to reliably detect dangerous weapons while ignoring harmless items like cell phones, laptops, and keys. The firm operates in a single segment that develops, manufactures, markets, and sells security screening products and specific services. Its products are used in different industries such as casinos, industrial workplaces, schools, and ticketed venues.
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Evolv Technologies Hldgs Inc Up 2.3% To $4.00 After Earnings Beat
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