Evolv Technologies Holdings, Inc. (EVLV) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 01, 2026

Risk Assessment Details

Potential Dilution: 2.0% of current shares
Recent Dilution: 10.82% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
170M
Potential Supply
3.4M
Additional shares possible
Splits
None
Past 2 years

Summary

EVLV currently has 168M outstanding shares. with limited dilution risk as only 3.38M additional shares (2.0%) are authorized for issuance. The company has diluted shareholders by 10.82% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 01, 2026

POS AM filing: This POS AM filing from Evolv Technologies Holdings, Inc. details the offering of Class A common stock issuable upon exercise of warrants and shares of Class A common stock and warrants held by registered holders.

170M 3.4M
Mar 10, 2026

10-K filing | 168.4M shares outstanding

170M 3.4M
Nov 13, 2025

10-Q filing | 172.8M shares outstanding

170M 3.4M
Aug 14, 2025

10-Q filing | 165.3M shares outstanding

170M 3.4M
Jul 01, 2025

POS AM filing: This POS AM filing relates to the offering of common stock and warrants by selling securityholders, with the issuer receiving proceeds only from warrant exercises.

160M 3.4M
May 20, 2025

10-Q filing | 160.8M shares outstanding

160M 3.4M
Apr 28, 2025

10-K filing | 156.6M shares outstanding

160M 3.4M
Apr 28, 2025

10-Q filing | 157.7M shares outstanding

160M 3.4M
Aug 08, 2024

10-Q filing | 156.5M shares outstanding

160M 3.4M
May 09, 2024

10-Q filing | 153.1M shares outstanding

150M 3.4M
Feb 29, 2024

10-K filing | 149.2M shares outstanding

150M 3.4M
Nov 09, 2023

10-Q filing | 150.2M shares outstanding

150M 3.4M
Aug 10, 2023

10-Q filing | 148.9M shares outstanding

150M 3.4M
May 10, 2023

10-Q filing | 146.4M shares outstanding

150M 3.4M
Mar 24, 2023

10-K filing | 143.9M shares outstanding

140M 3.4M
Nov 09, 2022

10-Q filing | 144.1M shares outstanding

140M 3.4M
Oct 27, 2022

POS AM filing: This is a POS AM filing for Evolv Technologies Holdings, Inc. registering (i) 158,574,790 shares of common stock, (ii) 5,700,000 warrants to purchase shares of common stock and (iii) 14,325,000 shares of common stock underlying warrants by selling securityholders.

140M 3.4M
Aug 18, 2022

10-Q filing | 143.6M shares outstanding

140M 3.4M
May 13, 2022

10-Q filing | 142.9M shares outstanding

140M 3.4M
Apr 18, 2022

POS AM filing: This is a POS AM filing related to warrants exercisable for Class A common stock.

140M 3.4M
Mar 28, 2022

10-K filing | 142.7M shares outstanding

140M 200M
Nov 15, 2021

10-Q filing | 153.9M shares outstanding

150M 200M
Sep 02, 2021

S-1/A filing: This S-1/A filing registers the offer and sale of warrants to purchase Class A common stock, shares of Class A common stock underlying warrants, and shares of Class A common stock by selling securityholders.

4.3M 200M
Aug 16, 2021

10-Q filing | 4.3M shares outstanding

4.3M 200M
Aug 12, 2021

S-1 filing: This S-1 filing relates to the offer and sale of up to 164,274,790 shares of Class A common stock, up to 5,700,000 warrants to purchase shares of Class A common stock, and up to 14,325,000 shares of Class A common stock underlying warrants by selling securityholders.

17M 200M
Jul 22, 2021

8-K filing: NHIC consummated a business combination with Evolv Technologies, including PIPE investments and conversion of convertible notes into common stock.

17M 3.4M
Jul 22, 2021

8-K filing: NHIC consummated the Business Combination with Evolv Technologies, including PIPE Investment, conversion of Class B common stock, and conversion of Evolv convertible notes into NHIC Class A common stock.

17M 3.4M
Jun 09, 2021

8-K filing: NewHold Investment Corp. entered into the First Amendment to Agreement and Plan of Merger with Evolv Technologies, Inc., resulting in adjustments to restricted stock units and earn-out shares.

17M 3.4M
May 24, 2021

10-Q filing | 17.3M shares outstanding

17M 3.4M
Mar 25, 2021

10-K filing | 17.3M shares outstanding

17M 3.4M
Mar 08, 2021

8-K filing: NewHold Investment Corp. entered into a merger agreement with Evolv Technologies, Inc. where Evolv will merge into a wholly-owned subsidiary of NewHold, with Evolv surviving. ($300.0M proceeds)

17M 3.4M
Nov 16, 2020

10-Q filing | 17.3M shares outstanding

17M 3.4M
Aug 19, 2020

8-K filing: NewHold Investment Corp. consummated its initial public offering of 15,000,000 units at $10.00 per unit, generating gross proceeds of $150,000,000, and subsequently closed the issuance and sale of an additional 2,250,000 units at $10.00 per unit, resulting in total gross proceeds of $22,500,000. ($178.2M proceeds)

4.3M 3.4M
Aug 10, 2020

8-K filing: NewHold Investment Corp. consummated its initial public offering of 15,000,000 units at $10.00 per Unit, generating gross proceeds of $150,000,000, and consummated a private placement of 5,250,000 warrants at $1.00 per Private Warrant, generating gross proceeds of $5,250,000. ($155.25M proceeds)

4.3M 3.4M
Aug 05, 2020

8-K filing: NewHold Investment Corp. consummated its initial public offering of 15,000,000 units at $10.00 per unit, generating gross proceeds of $150,000,000, and simultaneously consummated a private placement with the Sponsor and certain funds of 5,250,000 warrants at $1.00 per Private Warrant, generating gross proceeds of $5,250,000. ($155.25M proceeds)

4.3M 3.4M
Jul 28, 2020

S-1/A filing: This S-1/A filing includes information about an offering where anchor investors have expressed interest to purchase an aggregate of $40,000,000 of units and discusses the conversion of Class B common stock to Class A common stock upon initial business combination.

4.3M 3.4M
Jul 27, 2020

S-1/A filing: S-1/A filing includes 2,250,000 units, consisting of 2,250,000 shares of Class A common stock and 1,125,000 redeemable warrants, which may be issued upon exercise of a 45-day option to purchase additional units granted to the underwriters to cover over-allotments, if any.

4.3M 3.4M
Jul 24, 2020

S-1/A filing: This S-1/A filing discusses a public offering with anchor investors, including the offering of units and private placement warrants.

4.3M 5.3M
Jul 10, 2020

S-1 filing: NewHold Investment Corp. is offering 15,000,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-half of one redeemable warrant, in an initial public offering.

4.3M 20M
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