EVOLV TECHNOLOGIES CL

To create safer spaces by transforming global security with AI-powered threat detection

Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

Sub organizations:

SWOT Analysis

Updated: September 16, 2025 • 2025-Q3 Analysis

This SWOT analysis reveals Evolv's strong position as an AI security pioneer with proven technology and loyal customers, yet faces critical profitability challenges. The company must balance aggressive growth with financial discipline while competitors emerge. Key priorities include scaling manufacturing, achieving unit economics, and expanding globally before market saturation. The regulatory tailwinds and $8B market opportunity provide runway, but execution on cost management and diversification will determine long-term success in this rapidly evolving security landscape.

Garrett Metal Detectors CEIA Smiths Detection Xtract Technologies Liberty Defense

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create safer spaces by transforming global security with AI-powered threat detection

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Strengths

TECHNOLOGY: Proprietary AI algorithms with 100+ patents for screening
MARKET: First-mover advantage in AI security with proven deployments
CUSTOMERS: 90%+ retention rate with major venues and schools
DATA: Extensive training datasets improving detection accuracy
TEAM: Experienced leadership with enterprise software backgrounds

Weaknesses

PROFITABILITY: $94M net loss in 2023 with high burn rate concerns
SCALE: Limited manufacturing capacity constraining growth potential
COMPETITION: Emerging competitors with similar AI screening solutions
COSTS: High customer acquisition costs impacting unit economics
DEPENDENCE: Reliance on key customers for significant revenue

Opportunities

REGULATION: New security mandates driving adoption in schools
MARKET: $8B global security screening market expansion
INTERNATIONAL: Global expansion opportunities in Europe and Asia
VERTICALS: Healthcare and corporate markets showing interest
AI: Advancing AI capabilities enabling new detection features

Threats

COMPETITION: Established players like Garrett entering AI space
ECONOMY: Budget cuts reducing customer security investments
TECHNOLOGY: Alternative screening technologies emerging rapidly
REGULATION: Privacy concerns limiting AI screening adoption
SUPPLY: Component shortages affecting hardware production

Key Priorities

Scale manufacturing capacity to meet growing demand pipeline
Achieve profitability by optimizing unit economics and reducing costs
Accelerate international expansion before competitors establish
Diversify customer base beyond key anchor accounts for stability

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Strategic OKR Plan

Updated: September 16, 2025 • 2025-Q3 Analysis

This SWOT-driven OKR plan addresses Evolv's critical growth and profitability challenges through focused execution. Scaling operations and achieving profitability form the foundation, while international expansion and customer diversification drive sustainable growth. The plan balances aggressive market capture with financial discipline, essential for competing against emerging rivals while building long-term value in the rapidly evolving security technology landscape.

Garrett Metal Detectors CEIA Smiths Detection Xtract Technologies Liberty Defense

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create safer spaces by transforming global security with AI-powered threat detection

SCALE OPERATIONS

Build manufacturing and operational capacity for growth

CAPACITY: Increase manufacturing capacity to 500 units quarterly by Q3 end
SUPPLY: Establish redundant supply chain with 3+ suppliers per component
DEPLOYMENT: Deploy 200+ new systems across customer sites this quarter
UPTIME: Achieve 99% system uptime across all deployed installations

ACHIEVE PROFITABILITY

Improve unit economics and path to sustainable profits

MARGINS: Improve gross margins to 45% through cost optimization initiatives
BURN: Reduce quarterly cash burn by 25% while maintaining growth trajectory
ECONOMICS: Achieve positive unit economics on new customer acquisitions
COSTS: Reduce customer acquisition costs by 30% through sales efficiency

EXPAND GLOBALLY

Enter international markets before competitors

MARKETS: Launch operations in 2 European countries with local partnerships
REVENUE: Generate $5M international revenue through new market entry
PARTNERS: Establish 5+ channel partners in target international markets
COMPLIANCE: Achieve regulatory approvals in key international markets

DIVERSIFY CUSTOMERS

Reduce dependence on key accounts through expansion

SEGMENTS: Add 50+ new customers across healthcare and corporate verticals
CONCENTRATION: Reduce top 10 customer concentration to under 60% of revenue
PIPELINE: Build $50M sales pipeline across diversified customer segments
RETENTION: Maintain 90%+ customer retention while expanding base rapidly

METRICS

Annual Recurring Revenue: $35M
Gross Margin: 45%
Customer Count: 300+

VALUES

Innovation
Safety
Reliability
Customer Focus
Integrity

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EVOLV TECHNOLOGIES CL Retrospective

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance data
Earnings call transcripts for management guidance and strategy
Industry reports on AI security screening market trends
Customer case studies and press releases for deployment data
Patent databases for intellectual property portfolio analysis
Competitor analysis from security industry publications
Customer reviews and feedback from G2 and security forums

Garrett Metal Detectors CEIA Smiths Detection Xtract Technologies Liberty Defense

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create safer spaces by transforming global security with AI-powered threat detection

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What Went Well

REVENUE: 40% YoY revenue growth exceeding guidance expectations
CUSTOMERS: Major venue wins including sports and entertainment
DEPLOYMENT: Successful large-scale installations demonstrating value
RETENTION: 90%+ customer retention showing product satisfaction
INNOVATION: New AI features improving detection capabilities

Not So Well

PROFITABILITY: Widening losses with high operational expenses
GUIDANCE: Lowered 2024 guidance disappointing investor expectations
COMPETITION: Increased competitive pressure affecting deal cycles
SUPPLY: Component shortages delaying some customer deployments
CASH: High cash burn rate raising funding concerns

Learnings

UNIT: Unit economics need improvement for sustainable growth
MARKET: Market education still required for AI security adoption
SCALE: Scaling challenges more complex than anticipated
TIMING: Longer sales cycles in enterprise security decisions
FOCUS: Need sharper focus on profitable customer segments

Action Items

MARGINS: Improve gross margins through cost optimization initiatives
SALES: Accelerate sales cycles with better ROI demonstrations
OPERATIONS: Streamline operations to reduce cash burn rate
FOCUS: Focus on high-value customers with better unit economics
FUNDING: Secure additional funding or path to profitability

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EVOLV TECHNOLOGIES CL Market

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance data
Earnings call transcripts for management guidance and strategy
Industry reports on AI security screening market trends
Customer case studies and press releases for deployment data
Patent databases for intellectual property portfolio analysis
Competitor analysis from security industry publications
Customer reviews and feedback from G2 and security forums

Founded: 2013
Market Share: 5% of AI security screening market
Customer Base: Schools, venues, healthcare, corporate
Category:
Security Technology
Location: Waltham, Massachusetts
Zip Code: 02451
Employees: 350+

Competitors

Garrett Metal Detectors

CEIA

Smiths Detection

Xtract Technologies

Liberty Defense

Products & Services

No products or services data available

Distribution Channels

EVOLV TECHNOLOGIES CL Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance data
Earnings call transcripts for management guidance and strategy
Industry reports on AI security screening market trends
Customer case studies and press releases for deployment data
Patent databases for intellectual property portfolio analysis
Competitor analysis from security industry publications
Customer reviews and feedback from G2 and security forums

Problem

Long security lines
Invasive screening
High labor costs
Poor detection
Bad experience

Solution

Touchless AI screening
Real-time detection
Analytics platform
Professional services
Ongoing support

Key Metrics

Revenue growth
Customer retention
Detection accuracy
Throughput speed
System uptime

Unique

AI-powered detection
Touchless experience
Real-time analytics
Proprietary algorithms
Proven deployments

Advantage

Patent portfolio
Training data
First-mover status
Customer base
AI expertise

Channels

Direct sales teams
Channel partners
System integrators
Trade shows
Digital marketing

Customer Segments

Schools K-12
Sports venues
Healthcare facilities
Corporate offices
Entertainment venues

Costs

R&D investment
Manufacturing
Sales operations
Cloud infrastructure
Customer support

EVOLV TECHNOLOGIES CL Product Market Fit Analysis

Updated: September 16, 2025

Evolv transforms security screening with AI-powered touchless technology that detects threats 3x faster than traditional methods while eliminating invasive searches, reducing costs by 50%, and improving visitor experience at schools, venues, and healthcare facilities nationwide.

3x faster screening speed

90%+ accuracy in threat detection

50% reduction in security labor costs

Before State

Long security lines
Invasive pat-downs
Slow screening process
High labor costs
Poor user experience

After State

Seamless entry
Touchless screening
Faster throughput
Real-time insights
Enhanced security

Negative Impacts

Lost productivity
Customer dissatisfaction
High operational costs
Security vulnerabilities
Staff burnout

Positive Outcomes

Improved experience
Reduced costs
Better security
Operational efficiency
Data insights

Key Metrics

90%+ customer retention

50+ NPS score

40% YoY growth

95% uptime

3x faster screening

Requirements

AI algorithms
Hardware sensors
Cloud platform
Professional services
Ongoing support

Why EVOLV TECHNOLOGIES CL

Deploy systems
Train operators
Monitor performance
Optimize algorithms
Scale operations

EVOLV TECHNOLOGIES CL Competitive Advantage

Proprietary AI
Extensive data
Proven deployment
Customer success
Continuous innovation

Proof Points

MSG deployment
School adoptions
Venue partnerships
Detection accuracy
Throughput metrics

EVOLV TECHNOLOGIES CL Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance data
Earnings call transcripts for management guidance and strategy
Industry reports on AI security screening market trends
Customer case studies and press releases for deployment data
Patent databases for intellectual property portfolio analysis
Competitor analysis from security industry publications
Customer reviews and feedback from G2 and security forums

What You Do

AI-powered touchless security screening

Target Market

Schools, venues, healthcare facilities

Differentiation

Touchless screening
AI-powered detection
Real-time analytics
Faster throughput

Revenue Streams

Hardware sales
Software licenses
Professional services
Maintenance contracts

EVOLV TECHNOLOGIES CL Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

SEC 10-K and 10-Q filings for financial performance data
Earnings call transcripts for management guidance and strategy
Industry reports on AI security screening market trends
Customer case studies and press releases for deployment data
Patent databases for intellectual property portfolio analysis
Competitor analysis from security industry publications
Customer reviews and feedback from G2 and security forums

Company Operations

Organizational Structure: Public company with functional teams
Supply Chain: Global hardware suppliers, US assembly
Tech Patents: 100+ patents in AI security screening
Website: https://www.evolvtechnology.com

Top Clients

Board Members

EVOLV TECHNOLOGIES CL Competitive Forces

Threat of New Entry

HIGH: Low regulatory barriers and available AI talent enable tech companies and startups to enter with competitive solutions quickly

Supplier Power

MODERATE: Dependent on specialized sensor and AI chip suppliers but multiple options exist for most components reducing single-source risk

Buyer Power

HIGH: Large venue customers have significant negotiating power due to deal sizes and can demand customization and pricing concessions

Threat of Substitution

HIGH: Traditional screening, mobile detection, behavioral analysis, and emerging biometric solutions offer alternative approaches

Competitive Rivalry

MODERATE: Traditional metal detector companies entering AI space with Garrett and CEIA developing smart solutions, while new AI startups emerge

Analysis of AI Strategy

Updated: September 16, 2025 • 2025-Q3 Analysis

Evolv's AI strategy positions them well as a domain-specific leader with proprietary algorithms and extensive training data. However, the company faces mounting pressure from tech giants and rising compute costs. Success requires transitioning to edge computing, building explainable AI capabilities, and securing top talent. The key is maintaining AI leadership while managing costs and regulatory compliance in this rapidly commoditizing market.

Garrett Metal Detectors CEIA Smiths Detection Xtract Technologies Liberty Defense

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To create safer spaces by transforming global security with AI-powered threat detection