Quarterly ResultMay 14, 2026, 06:51 AM
Elauwit Q1 Contracted Units +29%, Billed Units +114%; Revenue Down 19%
AI Summary
Elauwit Connection, Inc. reported Q1 2026 financial results, showing significant operational growth despite a revenue decrease. Contracted units increased by 29.4% and billed units by 114.8% year-over-year, driven by a newly launched sales team that secured verbal awards for approximately 40 new properties, representing over 11,000 units. However, total revenue decreased by 19% to $4.4 million, and the net loss widened to $(2.2) million compared to $(0.4) million in the prior year period.
Key Highlights
- Contracted units increased 29.4% year-over-year to 36,720.
- Billed units surged 114.8% year-over-year to 20,059.
- Total revenue decreased 19% year-over-year to $4.4 million.
- Net loss widened to $(2.2) million from $(0.4) million year-over-year.
- Adjusted EBITDA was $(2.2) million, compared to $(0.4) million in Q1 2025.
- Backlog grew to $38.1 million as of March 31, 2026, up from $15.6 million.
- New sales team secured verbal awards for ~40 properties, adding over 11,000 units.
- Cash and cash equivalents totaled $3.5 million as of March 31, 2026.