Weapons Scanner Company Evolv Admits to Employee Misconduct

Evolv Technology, the firm behind New York City's subway weapons scanners, revealed some staff got into trouble while making deals. The company says this happened between mid-2022 and mid-2023, affecting sales to one of their biggest partners. These employees didn't tell Evolv's finance folks about some extra stuff in the contracts, which made the company report about $4-6 million more in revenue than it should have. Evolv is fixing past statements and delaying the latest one, which was due on September 30. The company didn't say who was involved or which client was affected.

This news comes as Evolv faces several investigations. The city's Department of Investigation is looking into how the mayor's office picked Evolv for a subway scanner pilot. The NYPD recently said the 30-day test found 12 knives but no guns, and had 118 false alarms. The mayor's office hasn't ruled out a long-term deal with Evolv, but the city isn't using their tech since the pilot ended. Also, the SEC and FTC are checking if Evolv exaggerated how well their scanners work. Evolv has shared info about the misconduct with the SEC.

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