Aeva Technologies vs Evolv Technologies
Evolv Technologies reported revenue of $146 million in fiscal 2025, 8.1 times Aeva Technologies' $18 million in fiscal 2025. Aeva Technologies' revenue grew 99.4% in its latest year, and Evolv Technologies' grew 40.5%. Aeva Technologies had an operating margin of -705.8%, against -33.2% at Evolv Technologies. Free cash flow was −$120 million at Aeva Technologies and $13 million at Evolv Technologies.
Side by side
| Aeva Technologies | Evolv Technologies | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $18M | $146M |
| Revenue growth | 99.4% | 40.5% |
| Revenue growth a year, last 5 years | 30.4% | 98.0% |
| Gross margin | −3.6% | 51.6% |
| Operating margin | −705.8% | −33.2% |
| Net margin | −804.4% | −22.7% |
| Free cash flow | −$120M | $13M |
| Free cash flow margin | −662.0% | 8.9% |
| Return on capital | — | −52.9% |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 6.9% | 7.6% |
| Last close | $11.00 | $4.56 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $52.5 million | bought $749,505, sold $6.9 million |
| Piotroski F-score | 4 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Aeva TechnologiesEvolv Technologies
Operating margin
Percent of revenue
Aeva TechnologiesEvolv Technologies
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Aeva TechnologiesEvolv Technologies
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Aeva Technologies and Evolv Technologies pages.