AI Weapon Scanners Offer a Long-Term Growth Story
Transition to subscriptions causes short-term headwind
In fiscal year 2026, revenues are expected to rise to $160 to $165 million
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Evolv Technologies (EVLV) serves over 1,000 customers with AI weapon scanners and scans an average of 3 million people daily. I see significant long-term potential here, as the demand is particularly increasing in the U.S. among educational and healthcare institutions, as well as stadiums, for reliable high-throughput scans. In just the last three months, loaded firearms have been detected at school entrances in Georgia, Nashville, and Atlanta. The third quarter saw a revenue increase of 57%, leading to the largest contract in the company's history...
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