Earlier Reported, Evolv Technology Announces The Results Of Its Internal Investigation; Reaffirms Revenue Recognition Impact Of $4M-$6M; Ending Cash Position Of ~$56M As Of September 30, 2024, Consistent With Internal Forecasts; Mark Donohue, The Company's CFO And Principal Financial Officer And Principal Accounting Officer, Has Resigned; Hires Leading Business Advisory Firm, AlixPartners, To Provide Interim Finance And Accounting Resources

Benzinga11-22 00:36

Reaffirms Revenue Recognition Impact of $4 to $6 million

Ending Cash Position of Approximately $56 Million as of September 30, 2024, Consistent with Internal Forecasts

Announces Remedial Actions and Organizational Changes, Including the Resignation of the Company's Chief Financial Officer

Hires Leading Business Advisory Firm, AlixPartners, to Provide Interim Finance and Accounting Resources

Evolv Technology ("Evolv" or the "Company") (NASDAQ:EVLV), a leading security technology company pioneering AI-based solutions designed to create safer experiences, today announced the results of the internal investigation previously disclosed on October 25, 2024, into certain sales practices that impacted revenue recognition and other metrics.

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