Evolv Technology booked a record $25.5M in revenue in the second quarter, up 29% from the same period in FY23, and $14.5M in gross profit, up $7.4M year-over-year. Subscriptions to the company’s Evolv Express AI-powered security scanners – the winner of SBJ’s Best in Fan Experience Technology and Best in Sports Technology honors at this year’s Sports Business Awards: Tech– now sit at 5,323, a 57% increase from this time last year.
Evolv’s technology is used by more than 40 professional sports teams across five leagues, including the Chicago Bears’ Soldier Field, Minnesota Timberwolves’ Target Center, Anaheim Ducks’ Honda Center and Winnipeg Jets’ Canadian Life Center. In all, the company added 84 new customers in Q2 FY24, its most in a single quarter since Q4 FY22.
