Tag: Evolv Technology
Evolv Technology terminates CEO Peter George amidst internal investigation
October 31, 2024SSN Staff
WALTHAM, Mass.—Evolv Technology’s Board of Directors has announced the termination of President and CEO Peter George without cause, effective immediately, as the company continues its internal investigation involving allegations of misconduct during sales transactions and subsequent inaccurate financial reporting.
The Board of Directors has appointed cofounder Michael Ellenbogen, Evolv’s chief innovation officer and a member of the board, as interim president and CEO.
Evolv’s...
Evolv ‘remains focused on customers’ during investigation
October 30, 2024Cory Harris, Editor
WALTHAM, Mass.—Evolv Technology remains “committed to our mission of making people and places safe” amid an internal investigation involving allegations of misconduct during sales transactions that has led to the company delaying its Q3 financials.
On Oct. 25, the manufacturer of AI-based weapons detection technology announced that employees “engaged in misconduct” during sales transactions covering a nearly two-year period, following a preliminary committee...
Evolv Technology reveals employees “engaged in misconduct” during sales
October 25, 2024SSN Staff
WALTHAM, Mass.—Evolv Technology, a manufacturer of AI-based weapons detection technology, has announced that employees “engaged in misconduct” during sales transactions during a nearly two-year period, following a preliminary committee investigation into its sales practices.
As a result, there will be a delay in the release of Evolv’s Q3 financial results, ending Sept. 30, 2024.
In a release, Evolv revealed that an ad hoc committee of independent directors (the committee)...
Detecting corruption
October 9, 2024Cory Harris, Editor
New York City, or more specifically the embattled Mayor Eric Adams of the city I call home, has been dominating the headlines in recent weeks, and for all the wrong reasons.
You see, Mayor Adams was charged with federal bribery, campaign finance, and conspiracy offenses in an indictment released on Sept. 26 by the U.S. Attorney’s Office, Southern District of New York. Since the indictment was unsealed, mayoral staffers left and right have either resigned, been fired, and even jailed, which...
'Making safer experiences’ - NYC rolls out weapons detection technology in subways
July 31, 2024Cory Harris, Editor
NEW YORK—On July 26, the New York City Police Department (NYPD) deployed a weapons detection system at the Fulton St. subway station, marking the first time such technology was implemented in the 119-year history of the system.
Evolv Technology’s AI-powered weapons screening solutions are being used by the NYPD as part of a 30-day pilot program to detect weapons carried by travelers into the Metropolitan Transit Authority's (MTA) subway system.
“We are honored...
‘Not in a rush’ hour
July 31, 2024Cory Harris, Editor
Back to my ol’ stomping grounds for security blog fodder this week, as NYC made history on July 26 by introducing weapons detection technology for the first time in the nearly 120-year history of the subway system.
While I applaud NYC Mayor Eric Adams and the New York City Police Department’s (NYPD’s) efforts to stop subway violence and keep the underground safe for straphangers, one question keeps popping into my head every time I think of the concept of stopping riders and...
AI weapons detection technology included in NYC pilot program
April 10, 2024Cory Harris, Editor
NEW YORK—Evolv Technology’s AI system will be used as part of a new pilot program by the New York City Police Department (NYPD) to detect weapons carried by travelers into the Metropolitan Transit Authority's (MTA) subway system.
According to a release by the Office of the Mayor of New York City, the NYPD seized 1,515 weapons in the subway system in 2023, compared to 947 weapons the previous year – a nearly 60% increase.
“The NYPD contacted Evolv to...
Evolv Q4 2023 highlights gun detection offering, new sporting venues
March 4, 2024SSN Staff
WALTHAM, Mass. – Evolv Technology, a security technology company developing AI-based weapons detection systems, announced its financial results for the fourth quarter (Q4) 2023 and issued its outlook for 2024 on February 29.
Among the notable statistics was that total revenue for the fourth quarter of 2023 was $21.8 million, an increase of 4% compared to $20.9 million for the fourth quarter of 2022. Annual Recurring Revenue (“ARR”)1 was $75.0 million at the end of fourth quarter...
Evolv Technology gives regulatory update following SEC request
February 19, 2024SSN Staff
WALTHAM, Mass. – Evolv Technology, a security technology company working with AI-based weapons detection, has provided an update on a request received from the U.S. Securities and Exchange Commission (SEC).
In a release from Evolv it revealed that on Feb. 16, 2024, the SEC notified the company it was initiating an investigation that was described as a confidential “non-public, fact finding inquiry.” Evolv noted the SEC’s explicit guidance that the investigation “should...
NCS4 forum addresses school safety and security issues
February 2, 2024SSN Staff
KATY, Texas – Recently more than 100 safety and security officials from high schools across the country gathered together for the 2024 National Interscholastic Athletics and After-School Activities Safety and Security Forum sponsored by the National Center for Spectator Sports Safety and Security (NCS4).
The event was held at the Katy Independent School District’s Legacy Stadium. Attendees at the event ranged from superintendents, principals, athletic and facility administrators, to...