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SPARTANBURG, S.C. - Spartanburg District Five Schools has expanded its deployment of Evolv Technology (NASDAQ:EVLV) security screening systems across all 14 schools in the district, according to a press release statement. The $1.39 billion market cap company has seen its stock surge over 220% in the past year, according to InvestingPro data.
The South Carolina school district, which first implemented Evolv Express systems in 2022, has added Evolv eXpedite bag screening units in 2025. The district now operates 29 Evolv Express systems and four eXpedite units throughout its elementary, middle, and high school campuses. This expansion aligns with the company’s strong revenue growth of 36.6% over the last twelve months, though InvestingPro analysis suggests the stock is currently trading above its Fair Value.
Evolv Express uses sensor technology and AI to detect certain concealed threats while allowing people to walk through checkpoints at a normal pace. The newer eXpedite solution focuses on bag screening in high-traffic environments.
"Their products add an important layer of security while being fast and innovative and without disrupting the flow of the school day," said Ryan Cothran, Director of Safety and Emergency Services for Spartanburg District Five Schools.
The expansion represents a growing trend among K-12 institutions integrating advanced screening technology to balance security needs with efficient entry during peak arrival times and special events.
John Kedzierski, CEO and President of Evolv Technology, noted that eXpedite was designed specifically to help schools optimize both screening speed and accuracy.
Evolv Technology reports having more than 1,000 customers worldwide, including schools, hospitals, cultural institutions, workplaces, and sports venues. The company’s systems have reportedly screened more than 3 billion people since 2019. For investors seeking deeper insights into Evolv’s growth trajectory and valuation metrics, InvestingPro offers comprehensive analysis through its Pro Research Report, featuring additional financial metrics and expert analysis.
In other recent news, Evolv Technologies reported total revenue of $32.5 million for the second quarter of 2025, marking a 29% increase year-over-year. This performance exceeded consensus expectations by 5.3%, primarily driven by new customer acquisitions. Following these results, Cantor Fitzgerald raised its price target for Evolv Technologies to $9.00, maintaining an Overweight rating. Additionally, Lake Street Capital upgraded Evolv Technologies to a Buy rating, citing better-than-expected revenue and adjusted EBITDA for the second quarter. The company also secured a new industrial contract with a Fortune 50 company, expanding its presence in various sectors. TD Cowen reinstated its Buy rating on Evolv Technologies with a $10.00 price target, noting improvements in management and regulatory conditions. Furthermore, Evolv renewed and expanded its partnership with Gillette Stadium, increasing the deployment of its AI-based security screening systems. Evolv also released updated software for its security screening solutions, enhancing its Evolv Express and Evolv eXpedite systems.
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