Evolv Technologies Holdings, Inc. entered into a multi‑year subscription agreement with Houston’s Shell Energy Stadium for its Evolv Express concealed‑weapon detection system. The system will be installed at every public and non‑public entry point, allowing guests to move through the venue at a natural walking pace while maintaining a high level of security.
The deal adds a recurring revenue stream that fits with Evolv’s strategy to shift from distributor licensing to direct customer relationships. By securing a long‑term contract with a high‑traffic venue, the company strengthens its recurring revenue base and supports margin stability as it scales its AI‑powered security solutions.
Evolv’s Q3 2025 results provide context for the significance of the contract. Revenue rose to $42.9 million, up 57% year‑over‑year, and annual recurring revenue reached $117.2 million, a 25% increase. The company reported a net loss of $1.8 million but achieved a positive adjusted EBITDA of $5.1 million, a 12% margin. The new stadium contract will contribute to the recurring revenue stream that underpins the company’s growth trajectory.
Shaun Johnson, General Manager of Facilities and Operations at Shell Energy Stadium, said, “At Shell Energy Stadium, we are focused on delivering a high‑quality experience from the moment guests arrive. We are always looking for ways to improve efficiency and comfort for our fans, and this investment helps create a smoother entry process across all of our events.” John Baier, Evolv’s Vice President of Sports & Entertainment, added, “We are proud to partner with Shell Energy Stadium to support their vision for an improved guest experience. Our goal is to help create safer, more efficient entry experiences so guests can focus on enjoying their event.”
The contract is part of a broader upgrade program at Shell Energy Stadium that includes new sound systems, improved airflow, and other fan‑experience enhancements. By integrating Evolv Express into the venue’s security infrastructure, the stadium aims to enhance safety while preserving the flow and enjoyment of the upcoming soccer season and other events.
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