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Side-by-side financial comparison of Evolv Technologies Holdings, Inc. (EVLV) and Fortinet (FTNT). Click either name above to swap in a different company.
Fortinet is the larger business by last-quarter revenue ($1.9B vs $38.5M, roughly 49.5× Evolv Technologies Holdings, Inc.). Evolv Technologies Holdings, Inc. runs the higher net margin — 28.3% vs 26.6%, a 1.7% gap on every dollar of revenue. On growth, Evolv Technologies Holdings, Inc. posted the faster year-over-year revenue change (32.3% vs 14.8%). Over the past eight quarters, Evolv Technologies Holdings, Inc.'s revenue compounded faster (31.8% CAGR vs 18.6%).
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.
Fortinet, Inc. is an American cybersecurity company headquartered in Sunnyvale, California. It develops and sells security products including firewalls, endpoint security and intrusion detection systems. Fortinet has offices in the US, Canada, and UK.
EVLV vs FTNT — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $38.5M | $1.9B |
| Net Profit | $10.9M | $506.0M |
| Gross Margin | 48.4% | 79.6% |
| Operating Margin | -20.7% | 32.8% |
| Net Margin | 28.3% | 26.6% |
| Revenue YoY | 32.3% | 14.8% |
| Net Profit YoY | 169.2% | -3.8% |
| EPS (diluted) | $0.07 | $0.67 |
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.
| Q4 25 | $38.5M | $1.9B | ||
| Q3 25 | $42.9M | $1.7B | ||
| Q2 25 | $32.5M | $1.6B | ||
| Q1 25 | $32.0M | $1.5B | ||
| Q4 24 | $29.1M | $1.7B | ||
| Q3 24 | $27.4M | $1.5B | ||
| Q2 24 | $25.2M | $1.4B | ||
| Q1 24 | $22.2M | $1.4B |
| Q4 25 | $10.9M | $506.0M | ||
| Q3 25 | $-1.8M | $473.9M | ||
| Q2 25 | $-40.5M | $440.1M | ||
| Q1 25 | $-1.7M | $433.4M | ||
| Q4 24 | $-15.7M | $526.2M | ||
| Q3 24 | $-30.4M | $539.9M | ||
| Q2 24 | $3.4M | $379.8M | ||
| Q1 24 | $-11.3M | $299.3M |
| Q4 25 | 48.4% | 79.6% | ||
| Q3 25 | 49.7% | 80.8% | ||
| Q2 25 | 49.8% | 80.7% | ||
| Q1 25 | 59.8% | 81.0% | ||
| Q4 24 | 57.5% | 81.1% | ||
| Q3 24 | 57.8% | 82.5% | ||
| Q2 24 | 58.5% | 80.8% | ||
| Q1 24 | 54.8% | 77.5% |
| Q4 25 | -20.7% | 32.8% | ||
| Q3 25 | -20.1% | 31.7% | ||
| Q2 25 | -53.8% | 28.1% | ||
| Q1 25 | -45.0% | 29.5% | ||
| Q4 24 | -64.9% | 34.6% | ||
| Q3 24 | -70.0% | 31.2% | ||
| Q2 24 | -88.7% | 30.5% | ||
| Q1 24 | -98.8% | 23.7% |
| Q4 25 | 28.3% | 26.6% | ||
| Q3 25 | -4.2% | 27.5% | ||
| Q2 25 | -124.6% | 27.0% | ||
| Q1 25 | -5.3% | 28.1% | ||
| Q4 24 | -54.0% | 31.7% | ||
| Q3 24 | -111.3% | 35.8% | ||
| Q2 24 | 13.6% | 26.5% | ||
| Q1 24 | -50.8% | 22.1% |
| Q4 25 | $0.07 | $0.67 | ||
| Q3 25 | $-0.01 | $0.62 | ||
| Q2 25 | $-0.25 | $0.57 | ||
| Q1 25 | $-0.01 | $0.56 | ||
| Q4 24 | $-0.10 | $0.68 | ||
| Q3 24 | $-0.19 | $0.70 | ||
| Q2 24 | $0.02 | $0.49 | ||
| Q1 24 | $-0.07 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.1M | $2.5B |
| Total DebtLower is stronger | $28.6M | — |
| Stockholders' EquityBook value | $119.4M | $1.2B |
| Total Assets | $304.4M | $10.4B |
| Debt / EquityLower = less leverage | 0.24× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | $2.5B | ||
| Q3 25 | $56.2M | $2.0B | ||
| Q2 25 | $36.9M | $3.4B | ||
| Q1 25 | $35.0M | $3.6B | ||
| Q4 24 | $51.9M | $2.9B | ||
| Q3 24 | $56.0M | $2.5B | ||
| Q2 24 | $56.5M | $2.2B | ||
| Q1 24 | $81.0M | $1.9B |
| Q4 25 | $28.6M | — | ||
| Q3 25 | $28.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $119.4M | $1.2B | ||
| Q3 25 | $102.2M | $735.1M | ||
| Q2 25 | $92.7M | $2.1B | ||
| Q1 25 | $121.1M | $2.0B | ||
| Q4 24 | $117.7M | $1.5B | ||
| Q3 24 | $129.0M | $908.1M | ||
| Q2 24 | $151.2M | $288.2M | ||
| Q1 24 | $139.8M | $-137.5M |
| Q4 25 | $304.4M | $10.4B | ||
| Q3 25 | $304.3M | $9.4B | ||
| Q2 25 | $280.4M | $10.6B | ||
| Q1 25 | $256.0M | $10.4B | ||
| Q4 24 | $268.1M | $9.8B | ||
| Q3 24 | $278.5M | $8.9B | ||
| Q2 24 | $269.1M | $8.1B | ||
| Q1 24 | $280.0M | $7.7B |
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $15.6M | $620.2M |
| Free Cash FlowOCF − Capex | — | $577.4M |
| FCF MarginFCF / Revenue | — | 30.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | 1.43× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $620.2M | ||
| Q3 25 | $3.5M | $655.2M | ||
| Q2 25 | $2.1M | $451.9M | ||
| Q1 25 | $-2.5M | $863.3M | ||
| Q4 24 | $3.2M | $477.6M | ||
| Q3 24 | $3.7M | $608.1M | ||
| Q2 24 | $-21.6M | $342.0M | ||
| Q1 24 | $-16.2M | $830.4M |
| Q4 25 | — | $577.4M | ||
| Q3 25 | — | $567.5M | ||
| Q2 25 | — | $284.1M | ||
| Q1 25 | — | $796.8M | ||
| Q4 24 | — | $380.0M | ||
| Q3 24 | — | $571.8M | ||
| Q2 24 | — | $318.9M | ||
| Q1 24 | — | $608.5M |
| Q4 25 | — | 30.3% | ||
| Q3 25 | — | 32.9% | ||
| Q2 25 | — | 17.4% | ||
| Q1 25 | — | 51.8% | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | — | 37.9% | ||
| Q2 24 | — | 22.2% | ||
| Q1 24 | — | 45.0% |
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | 1.43× | 1.23× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | -6.31× | 0.90× | ||
| Q1 24 | — | 2.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EVLV
Segment breakdown not available.
FTNT
| Services | $1.2B | 64% |
| Security Subscription | $693.7M | 36% |
