02:10 PM EDT, 05/10/2024 (MT Newswires) -- Evolv Technology ( EVLV ) shares plunged nearly 42% in recent Friday trading, a day after the company lowered its full-year 2024 revenue outlook.

The company reported a Q1 adjusted loss late Thursday of $0.09 per diluted share, narrower than a loss of $0.12 a year earlier.

One analyst surveyed by Capital IQ expected a loss of $0.07.

Revenue for the quarter ended March 31 was $21.7 million, up from $18.6 million a year earlier.

Four analysts surveyed by Capital IQ expected $22.3 million.

The company said it expects 2024 revenue of $100 million, compared with its prior outlook of $115 million. Analysts surveyed by Capital IQ expect $105.7 million.

Price: 2.24, Change: -1.61, Percent Change: -41.80