What is the long-term trend for Evolv Technologies Holdings, Inc.'s free cash flow margin?

Over 2 years (2021 to 2025), Evolv Technologies Holdings, Inc.'s free cash flow margin has grown at a -81.9% compound annual growth rate (CAGR), from -313.5% to 10.2%.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

Evolv Technologies Holdings, Inc. EVLV Free cash flow margin

Free cash flow margin at other companies

Arlo TechnologiesARLO

13.8%+2.5pp

ADTADT

36.5%0.0pp

APi GroupAPG

8.3%-0.1pp

Aeva TechnologiesAEVA

-555.5%-181pp

Alarm.com HoldingsALRM

16.3%-1.3pp

PDF SolutionsPDFS

-9.8%—

Other financials

Income statement

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Revenue$46.3M+44.7%

Gross profit$23.6M+23.2%

Operating income-$8.5M+41.1%

Net income-$5.0M-197%

EPS (diluted)-$0.03-200%

Balance sheet

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Cash & equivalents$56.1M+124%

Total debt$42.0M+191%

Total equity$120.7M-0.3%

Total assets$304.6M+19.0%

Cash flow

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Operating cash flow-$3.2M-25.2%

CapEx$6.4M+107%

Free cash flow-$9.6M-70.0%

Valuation

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Market cap$987.49M+5.1%

Enterprise value$973.38M+4.8%

P/S6.2×-2.1×

Profitability

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Gross margin49.8%-8.7pp

Operating margin-26.6%-9.9pp

Net margin-43.8%-8.7pp

Returns & leverage

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Return on equity-51.7%+24.4pp

Debt / equity0.3×+0.2×

Current ratio1.2×+0.1×

Where this comes from

Calculated from Evolv Technologies Holdings, Inc.’s reported figures.

free cash flow/total revenue=6.9%

Based on trailing twelve months.

The official record: Evolv Technologies Holdings, Inc.’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Evolv Technologies Holdings, Inc.'s free cash flow margin?: Evolv Technologies Holdings, Inc. (EVLV) reported free cash flow margin of 6.9% in Q1 2026.
What is the long-term trend for Evolv Technologies Holdings, Inc.'s free cash flow margin?: Over 2 years (2021 to 2025), Evolv Technologies Holdings, Inc.'s free cash flow margin has grown at a -81.9% compound annual growth rate (CAGR), from -313.5% to 10.2%.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.