In this Research Note, we examine Evolv Technology, a US public company providing AI-based weapons detection for security screening. This article covers the firm’s 2023 financial results, partners, vertical market approach, and US government investigations. It is based on Evolv’s Q4 Earnings Release, Presentation, 2023 10K Report, filed on 29th February 2024 and our analysis. According to Evolv, unlike traditional walk-through metal detectors, their touchless security screening solutions use AI software, cloud services, and advanced sensors to reliably detect weapons that could be a threat to a crowd of visitors while significantly reducing nuisance alarms from harmless personal items. This means that most visitors can walk through their solution without stopping, without removing personal items from their pockets or bags, and without having to form a single file line. They state that their products reduce the number of false positive alarms, allowing security staff to focus their attention on high-probability threats. Evolv 2023 Financial Highlights […]