EVLV Being Investigated by the FTC We’ll have to wait and see how badly EVLV gets run through the mud here. This is where the subscription model could really hurt them, as customers could roll off to competitors. They have Operating Expenses running at about $110mm per year currently, resulting in an annual Net Income loss of -$142mm per year. With cash at $155mm at the end of June, it could go fast. If sentiment truly turned against EVLV, it could be ugly. Even if the backlash is more moderate, it would seem XTRA is a likely beneficiary of any EVLV disillusionment.