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Side-by-side financial comparison of Evolv Technologies Holdings, Inc. (EVLV) and FS Bancorp, Inc. (FSBW). Click either name above to swap in a different company.

FS Bancorp, Inc. is the larger business by last-quarter revenue ($40.0M vs $38.5M, roughly 1.0× Evolv Technologies Holdings, Inc.). On growth, Evolv Technologies Holdings, Inc. posted the faster year-over-year revenue change (32.3% vs 12.0%). Over the past eight quarters, Evolv Technologies Holdings, Inc.'s revenue compounded faster (31.8% CAGR vs 6.2%).

Sentient Technologies was an American artificial intelligence technology company based in San Francisco. Sentient was founded in 2007 and received over $143 million in funding at different points after its inception. As of 2016, Sentient was the world's most well-funded AI company. It focused on e-commerce, online content and trading.

FS Bancorp, Inc. is a U.S.-headquartered bank holding company that serves as the parent of 1st Security Bank of Washington. It offers a full range of personal and commercial banking solutions including deposit products, mortgage loans, small business financing and construction loans, primarily catering to customers in the Pacific Northwest, with core segments covering retail banking, commercial banking and residential lending.

EVLV vs FSBW — Head-to-Head

Bigger by revenue
FSBW
FSBW
1.0× larger
FSBW
$40.0M
$38.5M
EVLV
Growing faster (revenue YoY)
EVLV
EVLV
+20.3% gap
EVLV
32.3%
12.0%
FSBW
Faster 2-yr revenue CAGR
EVLV
EVLV
Annualised
EVLV
31.8%
6.2%
FSBW

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
EVLV
EVLV
FSBW
FSBW
Revenue
$38.5M
$40.0M
Net Profit
$10.9M
Gross Margin
48.4%
Operating Margin
-20.7%
25.8%
Net Margin
28.3%
Revenue YoY
32.3%
12.0%
Net Profit YoY
169.2%
EPS (diluted)
$0.07
$1.11

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
EVLV
EVLV
FSBW
FSBW
Q4 25
$38.5M
$40.0M
Q3 25
$42.9M
$39.3M
Q2 25
$32.5M
$37.3M
Q1 25
$32.0M
$36.1M
Q4 24
$29.1M
$35.7M
Q3 24
$27.4M
$37.2M
Q2 24
$25.2M
$36.3M
Q1 24
$22.2M
$35.5M
Net Profit
EVLV
EVLV
FSBW
FSBW
Q4 25
$10.9M
Q3 25
$-1.8M
$9.2M
Q2 25
$-40.5M
$7.7M
Q1 25
$-1.7M
$8.0M
Q4 24
$-15.7M
Q3 24
$-30.4M
$10.3M
Q2 24
$3.4M
$9.0M
Q1 24
$-11.3M
$8.4M
Gross Margin
EVLV
EVLV
FSBW
FSBW
Q4 25
48.4%
Q3 25
49.7%
Q2 25
49.8%
Q1 25
59.8%
Q4 24
57.5%
Q3 24
57.8%
Q2 24
58.5%
Q1 24
54.8%
Operating Margin
EVLV
EVLV
FSBW
FSBW
Q4 25
-20.7%
25.8%
Q3 25
-20.1%
29.5%
Q2 25
-53.8%
26.2%
Q1 25
-45.0%
26.2%
Q4 24
-64.9%
27.6%
Q3 24
-70.0%
26.5%
Q2 24
-88.7%
31.3%
Q1 24
-98.8%
29.7%
Net Margin
EVLV
EVLV
FSBW
FSBW
Q4 25
28.3%
Q3 25
-4.2%
23.4%
Q2 25
-124.6%
20.7%
Q1 25
-5.3%
22.2%
Q4 24
-54.0%
Q3 24
-111.3%
27.6%
Q2 24
13.6%
24.7%
Q1 24
-50.8%
23.7%
EPS (diluted)
EVLV
EVLV
FSBW
FSBW
Q4 25
$0.07
$1.11
Q3 25
$-0.01
$1.18
Q2 25
$-0.25
$0.99
Q1 25
$-0.01
$1.01
Q4 24
$-0.10
$0.88
Q3 24
$-0.19
$1.29
Q2 24
$0.02
$1.13
Q1 24
$-0.07
$1.06

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EVLV
EVLV
FSBW
FSBW
Cash + ST InvestmentsLiquidity on hand
$49.1M
$28.2M
Total DebtLower is stronger
$28.6M
Stockholders' EquityBook value
$119.4M
$307.7M
Total Assets
$304.4M
$3.2B
Debt / EquityLower = less leverage
0.24×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EVLV
EVLV
FSBW
FSBW
Q4 25
$49.1M
$28.2M
Q3 25
$56.2M
$61.3M
Q2 25
$36.9M
$33.2M
Q1 25
$35.0M
$62.7M
Q4 24
$51.9M
$31.6M
Q3 24
$56.0M
$40.3M
Q2 24
$56.5M
$33.0M
Q1 24
$81.0M
$45.4M
Total Debt
EVLV
EVLV
FSBW
FSBW
Q4 25
$28.6M
Q3 25
$28.5M
Q2 25
Q1 25
Q4 24
$0
Q3 24
Q2 24
Q1 24
Stockholders' Equity
EVLV
EVLV
FSBW
FSBW
Q4 25
$119.4M
$307.7M
Q3 25
$102.2M
$300.5M
Q2 25
$92.7M
$297.2M
Q1 25
$121.1M
$298.8M
Q4 24
$117.7M
$295.8M
Q3 24
$129.0M
$288.9M
Q2 24
$151.2M
$284.0M
Q1 24
$139.8M
$277.9M
Total Assets
EVLV
EVLV
FSBW
FSBW
Q4 25
$304.4M
$3.2B
Q3 25
$304.3M
$3.2B
Q2 25
$280.4M
$3.2B
Q1 25
$256.0M
$3.1B
Q4 24
$268.1M
$3.0B
Q3 24
$278.5M
$3.0B
Q2 24
$269.1M
$2.9B
Q1 24
$280.0M
$3.0B
Debt / Equity
EVLV
EVLV
FSBW
FSBW
Q4 25
0.24×
Q3 25
0.28×
Q2 25
Q1 25
Q4 24
0.00×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EVLV
EVLV
FSBW
FSBW
Operating Cash FlowLast quarter
$15.6M
$72.3M
Free Cash FlowOCF − Capex
$51.9M
FCF MarginFCF / Revenue
129.8%
Capex IntensityCapex / Revenue
50.9%
Cash ConversionOCF / Net Profit
1.43×
TTM Free Cash FlowTrailing 4 quarters
$107.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EVLV
EVLV
FSBW
FSBW
Q4 25
$15.6M
$72.3M
Q3 25
$3.5M
$44.6M
Q2 25
$2.1M
$7.1M
Q1 25
$-2.5M
$8.2M
Q4 24
$3.2M
$50.8M
Q3 24
$3.7M
$-891.0K
Q2 24
$-21.6M
$9.9M
Q1 24
$-16.2M
$275.0K
Free Cash Flow
EVLV
EVLV
FSBW
FSBW
Q4 25
$51.9M
Q3 25
$41.6M
Q2 25
$5.9M
Q1 25
$7.8M
Q4 24
$49.2M
Q3 24
$-1.5M
Q2 24
$9.6M
Q1 24
$-82.0K
FCF Margin
EVLV
EVLV
FSBW
FSBW
Q4 25
129.8%
Q3 25
105.9%
Q2 25
15.7%
Q1 25
21.7%
Q4 24
137.7%
Q3 24
-4.1%
Q2 24
26.6%
Q1 24
-0.2%
Capex Intensity
EVLV
EVLV
FSBW
FSBW
Q4 25
50.9%
Q3 25
7.7%
Q2 25
3.5%
Q1 25
1.0%
Q4 24
4.6%
Q3 24
1.7%
Q2 24
0.8%
Q1 24
1.0%
Cash Conversion
EVLV
EVLV
FSBW
FSBW
Q4 25
1.43×
Q3 25
4.86×
Q2 25
0.92×
Q1 25
1.02×
Q4 24
Q3 24
-0.09×
Q2 24
-6.31×
1.11×
Q1 24
0.03×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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