As part of its latest quarterly financial announcement, walk-through weapons detection system provider Evolv said it had added the Minnesota Twins, the Houston Astros, the Philadelphia Phillies and the Tampa Bay Lightning as customers, adding to a breakout year where the company more than doubled its revenue.
The publicly traded (NASDAQ: EVLV) Evolv, which has rapidly added sports stadium customers over the past couple years, said it had $55.2 million in revenues for its fiscal year 2022, a 136 percent jump from the $23.4 million reported in 2021. While the company also saw growth in healthcare and education markets, its list of high-profile sports stadium customers grew rapidly over the past year, with SoFi Stadium being perhaps the biggest name among a long list of pro sports venues using the company’s technology.
As the market for new walk-through security technology in stadiums heats up, Evolv seems to be gaining strength. While industry heavyweight CEIA, which had a large market share of traditional metal detectors used at stadiums, also seems to be winning some deals with its new walk-through systems, the company does not provide any public information about its deployments. Meanwhile another startup in the market, Xtract One, recently gave up a big chunk of the company in a financing round.
Update, March 7: Evolv announced today that it has also signed up the Boston Red Sox as a customer, adding to its pro sports list.
