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Side-by-side financial comparison of Evolv Technologies Holdings, Inc. (EVLV) and i3 Verticals, Inc. (IIIV). Click either name above to swap in a different company.

i3 Verticals, Inc. is the larger business by last-quarter revenue ($52.7M vs $38.5M, roughly 1.4× Evolv Technologies Holdings, Inc.). Evolv Technologies Holdings, Inc. runs the higher net margin — 28.3% vs 0.9%, a 27.3% gap on every dollar of revenue. On growth, Evolv Technologies Holdings, Inc. posted the faster year-over-year revenue change (32.3% vs -14.6%). Over the past eight quarters, Evolv Technologies Holdings, Inc.'s revenue compounded faster (31.8% CAGR vs -4.7%).

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.

The Prusa i3 is a family of fused filament fabrication 3D printers, manufactured by Czech company Prusa Research under the trademarked name Original Prusa i3. Part of the RepRap project, Prusa i3 printers were called the most used 3D printer in the world in 2016. The first Prusa i3 was designed by Josef Průša in 2012, and was released as a commercial kit product in 2015. The latest model is available in both kit and factory assembled versions. The Prusa i3's comparable low cost and ease of co...

EVLV vs IIIV — Head-to-Head

Bigger by revenue
IIIV
IIIV
1.4× larger
IIIV
$52.7M
$38.5M
EVLV
Growing faster (revenue YoY)
EVLV
EVLV
+46.9% gap
EVLV
32.3%
-14.6%
IIIV
Higher net margin
EVLV
EVLV
27.3% more per $
EVLV
28.3%
0.9%
IIIV
Faster 2-yr revenue CAGR
EVLV
EVLV
Annualised
EVLV
31.8%
-4.7%
IIIV

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
EVLV
EVLV
IIIV
IIIV
Revenue
$38.5M
$52.7M
Net Profit
$10.9M
$484.0K
Gross Margin
48.4%
Operating Margin
-20.7%
3.1%
Net Margin
28.3%
0.9%
Revenue YoY
32.3%
-14.6%
Net Profit YoY
169.2%
-76.5%
EPS (diluted)
$0.07
$0.02

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
IIIV
IIIV
Q4 25
$38.5M
$52.7M
Q3 25
$42.9M
$46.0M
Q2 25
$32.5M
$51.9M
Q1 25
$32.0M
$63.1M
Q4 24
$29.1M
$52.2M
Q3 24
$27.4M
$32.0M
Q2 24
$25.2M
$46.2M
Q1 24
$22.2M
$58.0M
Net Profit
EVLV
EVLV
IIIV
IIIV
Q4 25
$10.9M
$484.0K
Q3 25
$-1.8M
$3.1M
Q2 25
$-40.5M
$12.9M
Q1 25
$-1.7M
$-154.0K
Q4 24
$-15.7M
$2.1M
Q3 24
$-30.4M
$117.9M
Q2 24
$3.4M
$-7.5M
Q1 24
$-11.3M
$1.9M
Gross Margin
EVLV
EVLV
IIIV
IIIV
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
IIIV
IIIV
Q4 25
-20.7%
3.1%
Q3 25
-20.1%
3.2%
Q2 25
-53.8%
-9.3%
Q1 25
-45.0%
8.0%
Q4 24
-64.9%
3.9%
Q3 24
-70.0%
10.6%
Q2 24
-88.7%
-2.8%
Q1 24
-98.8%
3.4%
Net Margin
EVLV
EVLV
IIIV
IIIV
Q4 25
28.3%
0.9%
Q3 25
-4.2%
6.7%
Q2 25
-124.6%
24.8%
Q1 25
-5.3%
-0.2%
Q4 24
-54.0%
3.9%
Q3 24
-111.3%
368.2%
Q2 24
13.6%
-16.3%
Q1 24
-50.8%
3.2%
EPS (diluted)
EVLV
EVLV
IIIV
IIIV
Q4 25
$0.07
$0.02
Q3 25
$-0.01
$0.14
Q2 25
$-0.25
$0.50
Q1 25
$-0.01
$0.00
Q4 24
$-0.10
$0.08
Q3 24
$-0.19
$4.93
Q2 24
$0.02
$-0.32
Q1 24
$-0.07
$0.08

Balance Sheet & Financial Strength

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

Metric
EVLV
EVLV
IIIV
IIIV
Cash + ST InvestmentsLiquidity on hand
$49.1M
$37.5M
Total DebtLower is stronger
$28.6M
Stockholders' EquityBook value
$119.4M
$358.5M
Total Assets
$304.4M
$595.9M
Debt / EquityLower = less leverage
0.24×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EVLV
EVLV
IIIV
IIIV
Q4 25
$49.1M
$37.5M
Q3 25
$56.2M
$66.7M
Q2 25
$36.9M
$55.5M
Q1 25
$35.0M
$7.7M
Q4 24
$51.9M
$85.6M
Q3 24
$56.0M
$86.5M
Q2 24
$56.5M
$9.7M
Q1 24
$81.0M
$3.1M
Total Debt
EVLV
EVLV
IIIV
IIIV
Q4 25
$28.6M
Q3 25
$28.5M
$0
Q2 25
$0
Q1 25
$12.0M
Q4 24
$0
$26.2M
Q3 24
$26.2M
Q2 24
$374.1M
Q1 24
$369.6M
Stockholders' Equity
EVLV
EVLV
IIIV
IIIV
Q4 25
$119.4M
$358.5M
Q3 25
$102.2M
$389.6M
Q2 25
$92.7M
$383.3M
Q1 25
$121.1M
$385.2M
Q4 24
$117.7M
$375.0M
Q3 24
$129.0M
$379.7M
Q2 24
$151.2M
$249.7M
Q1 24
$139.8M
$249.3M
Total Assets
EVLV
EVLV
IIIV
IIIV
Q4 25
$304.4M
$595.9M
Q3 25
$304.3M
$638.4M
Q2 25
$280.4M
$623.3M
Q1 25
$256.0M
$646.4M
Q4 24
$268.1M
$726.2M
Q3 24
$278.5M
$730.7M
Q2 24
$269.1M
$861.7M
Q1 24
$280.0M
$625.8M
Debt / Equity
EVLV
EVLV
IIIV
IIIV
Q4 25
0.24×
Q3 25
0.28×
0.00×
Q2 25
0.00×
Q1 25
0.03×
Q4 24
0.00×
0.07×
Q3 24
0.07×
Q2 24
1.50×
Q1 24
1.48×

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
IIIV
IIIV
Operating Cash FlowLast quarter
$15.6M
$14.1M
Free Cash FlowOCF − Capex
$13.8M
FCF MarginFCF / Revenue
26.2%
Capex IntensityCapex / Revenue
0.6%
Cash ConversionOCF / Net Profit
1.43×
29.18×
TTM Free Cash FlowTrailing 4 quarters
$6.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EVLV
EVLV
IIIV
IIIV
Q4 25
$15.6M
$14.1M
Q3 25
$3.5M
$14.0M
Q2 25
$2.1M
$7.4M
Q1 25
$-2.5M
$-27.1M
Q4 24
$3.2M
$11.5M
Q3 24
$3.7M
$15.1M
Q2 24
$-21.6M
$8.1M
Q1 24
$-16.2M
$10.7M
Free Cash Flow
EVLV
EVLV
IIIV
IIIV
Q4 25
$13.8M
Q3 25
$13.5M
Q2 25
$6.8M
Q1 25
$-27.6M
Q4 24
$11.0M
Q3 24
$14.6M
Q2 24
$7.2M
Q1 24
$9.9M
FCF Margin
EVLV
EVLV
IIIV
IIIV
Q4 25
26.2%
Q3 25
29.5%
Q2 25
13.1%
Q1 25
-43.8%
Q4 24
21.1%
Q3 24
45.6%
Q2 24
15.6%
Q1 24
17.1%
Capex Intensity
EVLV
EVLV
IIIV
IIIV
Q4 25
0.6%
Q3 25
0.9%
Q2 25
1.0%
Q1 25
0.8%
Q4 24
0.9%
Q3 24
1.7%
Q2 24
1.9%
Q1 24
1.4%
Cash Conversion
EVLV
EVLV
IIIV
IIIV
Q4 25
1.43×
29.18×
Q3 25
4.52×
Q2 25
0.57×
Q1 25
Q4 24
5.59×
Q3 24
0.13×
Q2 24
-6.31×
Q1 24
5.72×

Financial Flow Comparison

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

Revenue Breakdown by Segment

EVLV
EVLV

Segment breakdown not available.

IIIV
IIIV

License And Service$35.7M68%
Proprietary Payments Revenue$14.5M27%
Other Revenue$2.5M5%

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