Evolv Technologies Holdings, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to the Evolve Technologies second quarter earnings results. At this point, all the participant lines are in a listen-only mode. However, there will be an opportunity for your questions. Instructions will be given at that time. If you should require any assistance during the call, please press star zero, and operator will assist you offline. As a reminder, today's call is being recorded. With that, I'll turn the call over to Brian Norris, Vice President of Finance and Investor Relations. Please go ahead.

Thank you john and good afternoon everyone and welcome to today's call i'm joined here today by Peter George our President and chief executive officer and mark donahue our chief financial officer. This afternoon, after the market closed, we issued a press release announcing our second quarter results and our business outlook for 2022 this press releases available on major news outlets, as well as the ir section of our website. During today's call, we will make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the Private Security Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, rather, but not limited to, statements regarding our ability to meet our business outlook. All forward-looking statements are subject to material risks, uncertainties, and assumptions, some of which are beyond our control. Actual events or financial results may differ materially from these forward-looking statements because of a number of risks and uncertainties, including, without limitation, the risk factors set forth under the caption risk factors in our annual report on Form 10-K for the year-end December 31st, 2021, filed with the SEC on March 28th, 2022, and in other documents filed with or furnished to the SEC from time to time. Our forward-looking statements represent our views as of August 10th, 2022. Although we believe the expectations reflected in these statements are reasonable, we cannot guarantee them. Except as may be required by applicable law, we disclaim any obligation to update them to reflect future events or circumstances. Our commentary today will also include non-GAAP financial measures, including adjusted gross profit, adjusted gross margin, adjusted operating expenses, adjusted EBITDA, adjusted operating income or loss, and adjusted earnings and earnings per share, which we believe provide additional insight for investors in evaluating ongoing operating results and trends. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with generally accepted accounting principles. Reconciliations between GAAP and non-GAAP metrics for our reported results can be found in our press release issued today. Please note that our definition of these measures may differ from similarly titled metrics presented by other companies. Please be advised that as of January 1, 2022, Three, we no longer plan to disclose total contract value of orders booked, a measure we stopped guiding on several quarters ago because we no longer believe it's consistently indicative of the company's prospects. We encourage investors to continue to focus on key metrics such as annual recurring revenue, remaining performance obligation, deployment activity, and total number of subscriptions, which we believe are more indicative of the company's prospects. With that, I'll turn the call over to Peter. Peter?

Thanks, Brian, and thank you everyone for joining us today. We're pleased to be reporting strong second quarter results, which are indicative of the growing momentum and visibility we're seeing throughout the business. We're encouraged by our year-to-date performance and, based on the strong demand drivers in our business, are optimistic in our outlook for a strong second half of 2022. We have a lot of exciting news to share with you, But before we start, I want to take a moment to formally introduce Mark Donohue, who joined us on June the 1st as our Chief Financial Officer. I know Mark is a familiar face to many of you, as he has held leadership roles at several publicly traded technology companies. Mark brings over two decades of executive leadership experience with a strong background in subscription-based businesses. He joins us from Vestmark, a leading provider of SaaS-based portfolio management and trading tools, where he served as CFO for the last four years. Before that, Mark served in several senior roles on the finance team of Rapid7, a leading provider of cybersecurity analytics and automation. He also spent seven years at Cisco in various executive roles for the Mobility Business Group, and he held senior finance roles at Starrent Networks, a leading provider of infrastructure solutions for mobile operators. Mark has helped build and shape several category-leading technology companies across SaaS, cybersecurity, and networking, and I know his experience and leadership will be particularly important to our continued growth. We're fortunate to have him on board. Welcome, Mark.