Evolv Technologies Shares See Blue Skies, Expects Q3 Revenue To Beat Consensus
Portfolio Pulse from Lekha Gupta
Evolv Technologies Holdings Inc (NASDAQ:EVLV) shares are trading higher by around 12% after the company disclosed better-than-expected Q3 preliminary results and raised its fiscal 2023 outlook. The company expects Q3 revenues of $19.3 million to $19.8 million and an adjusted gross margin of 57% to 58%. The FY23 outlook has been raised to a revenue of $75 million-$77 million and an adjusted EBITDA loss of $50 million-$(53) million.
October 12, 2023 | 2:59 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Evolv Technologies' shares are trading higher after the company reported better-than-expected Q3 results and raised its FY23 outlook. This positive news is likely to have a short-term positive impact on the company's stock.
Evolv Technologies reported better-than-expected Q3 results and raised its FY23 outlook, which is a positive signal for investors. This news is likely to increase investor confidence in the company and could lead to increased demand for the company's shares, thereby driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100