Evolv Technologies Holdings, Inc. (EVLV) announced a renewal and expansion of its hardware and software subscription agreement with Charlotte’s Bank of America Stadium, a 75,037‑seat venue that hosts Carolina Panthers games, Charlotte FC matches, concerts and other events. The new agreement extends the use of Evolv’s Express concealed‑weapon detection system and adds the company’s eXpedite autonomous bag‑screening system, with deployment scheduled for the stadium’s March 7, 2026 home opener.
The expansion upgrades nearly twenty Express units to Gen 2 hardware, which offers faster processing and higher detection accuracy, and introduces eXpedite’s touchless bag‑screening technology. Together, the systems provide a layered security solution that can screen more than 3 million people daily while minimizing congestion at entry points. The addition of eXpedite enhances the venue’s security capabilities by providing touchless bag screening for high‑volume events, complementing the existing Express units.
From a financial perspective, the contract adds recurring revenue and strengthens Evolv’s recurring‑revenue pipeline as the company transitions from a distributor licensing model to direct customer relationships. In the most recent quarter, Evolv reported revenue of $42.9 million, up 57% year‑over‑year, and an ending annual recurring revenue of $117.2 million, up 25% year‑over‑year. The new stadium contract is a key driver of that growth, reinforcing the company’s momentum in the sports and entertainment venue market.
Management highlighted the partnership’s impact on the guest experience. "The Evolv systems have enabled significant improvements in our security screening and guest arrival experience," said Bonnie Almond, Vice President of Venue Operations at Tepper Sports & Entertainment. "We're especially pleased to bring eXpedite to the stadium, as an increasing number of our customers see real benefit in pairing Express with eXpedite for an even more efficient entry experience for guests and staff with large bags," added John Baier, Evolv Vice President of Sports & Entertainment.
The contract comes amid a broader push by Bank of America Stadium to modernize its facilities, including a new experience center and a total investment of over $688 million in renovations. Evolv’s expanded presence at the venue positions the company to capture additional security contracts across the United States, as it has recently secured agreements with the American Hospital Association and Miami Freedom Park. The deal underscores Evolv’s strategy of delivering integrated, AI‑powered security solutions that drive recurring revenue and deepen customer relationships.
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