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WALTHAM, Mass. - Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), a security technology company with a market capitalization of $1.41 billion and impressive year-to-date returns of over 113%, has renewed and expanded its partnership with Gillette Stadium, home of the New England Patriots and New England Revolution, according to a company press release. InvestingPro data shows the company has demonstrated strong momentum with a 166% return over the past six months.
The renewed agreement, which extends the original partnership established in 2021, increases the number of entry points where Evolv Express security screening systems will be deployed. All stadium visitors attending football games, soccer matches, concerts, and other events will now pass through these AI-based screening systems.
Evolv Express is designed to detect concealed weapons while allowing visitors to walk through checkpoints at a natural pace, helping to minimize congestion at entry points. Since the partnership began, more than seven million guests have been screened at Gillette Stadium using the technology.
As part of the expanded agreement, Evolv has been designated as the "Official Fan Screening Provider" of the New England Patriots, New England Revolution, and Gillette Stadium.
"We’re very pleased to expand and extend our relationship with Evolv," said Bill Christiansen, Vice President of TeamOps LLC and lead security executive for Gillette Stadium.
The renewal reinforces Evolv’s presence in the Boston area, where its systems are also used at TD Garden, Boston College, and the Boston Symphony Orchestra, among other venues. The company currently provides security screening for 13 professional football teams and 12 professional soccer teams in the United States. With revenue growth of 36.64% in the last twelve months, Evolv continues to expand its market presence. According to InvestingPro’s comprehensive analysis, which includes over 30 key metrics and exclusive insights available to subscribers, the company maintains a moderate debt level but is currently trading above its Fair Value.
Evolv Technologies, which has screened more than a billion people since 2019, offers AI-powered security solutions for venues, companies, schools, hospitals, and public spaces. While the company maintains a healthy gross profit margin of 56%, investors should note it is not yet profitable, with an EBITDA of -$43.05 million. For detailed analysis and growth projections, investors can access the full Pro Research Report available on InvestingPro, which provides comprehensive insights into the company’s financial health and market position.
In other recent news, Evolv Technologies Holdings Inc. reported a strong performance for the second quarter of 2025, with total revenue reaching $32.5 million. This figure represents a 29% year-over-year growth and surpassed the consensus expectations of $30.9 million. The company’s earnings per share (EPS) also beat forecasts, coming in at -0.02 USD compared to the projected -0.05 USD. Following these results, Cantor Fitzgerald raised its price target for Evolv Technologies to $9.00, maintaining an Overweight rating. Similarly, Lake Street Capital Markets upgraded Evolv Technologies from Hold to Buy, also setting a price target of $9.00. In addition, TD Cowen reinstated coverage with a Buy rating and a $10.00 price target, highlighting a positive growth outlook under new management. Evolv’s expansion across various sectors and a new contract with a Fortune 50 company further underscore the company’s recent achievements.
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