Why Evolv Technology Stock Plunged 45.8% on Tuesday

Shares of Evolv Technology (NASDAQ: EVLV) plunged as much as 45.8% in trading on Tuesday after the security company reported fourth-quarter financial results. Shares closed the day down 43.1%.

Total revenue for the fourth quarter of 2021 was $6.8 million, up 236% from a year earlier, and orders booked jumped 201% to $17.9 million. Net income for the quarter was $2.5 million, or $0.02 per share. But for the full year, revenue was $23.7 million and net loss was $10.9 million, or $0.15 per share.

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Source Fool.com