Evolv Technologies Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Nature of the Business and Basis of Presentation - Restatement of Cash Flows (Details)

Nature of the Business and Basis of Presentation - Restatement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (66,754)	$ (28,609)	$ (25,686)	$ (13,801)	$ (95,363)	$ (39,487)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,300		1,300		4,087	2,350
Write-off of inventory and change in inventory reserve					337	425
Loss from impairment of property and equipment	157		316		294	412
Stock-based compensation					11,732	8,988
Non-cash interest expense					22	10
Accretion of discount on marketable securities					(242)	0
Non-cash lease expense					432	392
Change in allowance for expected credit losses					173	80
Loss on extinguishment of debt	0		0		626	0
Change in fair value of contingent earn-out liability	28,113		569		31,431	(2,509)
Change in fair value of contingently issuable common stock liability	5,095		24		5,837	(1,448)
Change in fair value of public warrant liability	11,751		143		13,501	(5,443)
Changes in operating assets and liabilities
Accounts receivable					(646)	(5,786)
Inventory					5,080	(3,545)
Commission assets					(1,258)	(339)
Contract assets					(1,184)	(1,352)
Other assets					(43)	(756)
Prepaid expenses and other current assets					580	(9,707)
Accounts payable					(7,409)	2,147
Deferred revenue					24,113	6,031
Accrued expenses and other current liabilities					(342)	(1,876)
Operating lease liability					(513)	(457)
Net cash used in operating activities					(8,755)	(52,495)
Cash flows from investing activities:
Development of internal-use software					(1,599)	(1,301)
Purchases of property and equipment					(33,173)	(11,379)
Proceeds from sale of property and equipment					60	0
Purchases of marketable securities					(29,405)	0
Net cash used in investing activities					(64,117)	(12,680)
Net cash provided by (used in) financing activities					(29,988)	384
Effect of exchange rate changes on cash and cash equivalents					(33)	(10)
Net increase (decrease) in cash, cash equivalents and restricted cash					(102,893)	(64,801)
Cash, cash equivalents and restricted cash at end of period	127,165		$ 243,366		127,165	$ 243,366	$ 230,058	$ 308,167
As Reported
Cash flows from operating activities:
Net loss					(95,363)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization					4,087
Write-off of inventory and change in inventory reserve					337
Loss from impairment of property and equipment					294
Stock-based compensation					11,732
Non-cash interest expense					22
Accretion of discount on marketable securities					0
Non-cash lease expense					432
Change in allowance for expected credit losses					173
Loss on extinguishment of debt					626
Change in fair value of contingent earn-out liability					31,431
Change in fair value of contingently issuable common stock liability					5,837
Change in fair value of public warrant liability					13,501
Changes in operating assets and liabilities
Accounts receivable					(646)
Inventory					5,080
Commission assets					(1,258)
Contract assets					(1,184)
Other assets					(43)
Prepaid expenses and other current assets					580
Accounts payable					(7,409)
Deferred revenue					24,113
Accrued expenses and other current liabilities					(342)
Operating lease liability					(513)
Net cash used in operating activities					(8,513)
Cash flows from investing activities:
Development of internal-use software					(1,599)
Purchases of property and equipment					(33,173)
Proceeds from sale of property and equipment					60
Purchases of marketable securities					0
Net cash used in investing activities					(34,712)
Net cash provided by (used in) financing activities					(29,988)
Effect of exchange rate changes on cash and cash equivalents					(33)
Net increase (decrease) in cash, cash equivalents and restricted cash					(73,246)
Cash, cash equivalents and restricted cash at end of period	156,812				156,812
Adjustment
Cash flows from operating activities:
Net loss					0
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization					0
Write-off of inventory and change in inventory reserve					0
Loss from impairment of property and equipment					0
Stock-based compensation					0
Non-cash interest expense					0
Accretion of discount on marketable securities					(242)
Non-cash lease expense					0
Change in allowance for expected credit losses					0
Loss on extinguishment of debt					0
Change in fair value of contingent earn-out liability					0
Change in fair value of contingently issuable common stock liability					0
Change in fair value of public warrant liability					0
Changes in operating assets and liabilities
Accounts receivable					0
Inventory					0
Commission assets					0
Contract assets					0
Other assets					0
Prepaid expenses and other current assets					0
Accounts payable					0
Deferred revenue					0
Accrued expenses and other current liabilities					0
Operating lease liability					0
Net cash used in operating activities					(242)
Cash flows from investing activities:
Development of internal-use software					0
Purchases of property and equipment					0
Proceeds from sale of property and equipment					0
Purchases of marketable securities					(29,405)
Net cash used in investing activities					(29,405)
Net cash provided by (used in) financing activities					0
Effect of exchange rate changes on cash and cash equivalents					0
Net increase (decrease) in cash, cash equivalents and restricted cash					(29,647)
Cash, cash equivalents and restricted cash at end of period	$ (29,647)				$ (29,647)