Elauwit Connection, Inc.

Elauwit Connection, Inc. announced the dismissal of WithumSmith+Brown, PC as its independent registered public accounting firm, effective immediately as of October 5, 2026. The company's Audit Committee approved the dismissal. Concurrently, the Audit Committee approved the engagement of MPB Global LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2026. No disagreements or reportable events were noted with the outgoing auditor, except for previously disclosed material weaknesses in internal control over financial reporting.

Elauwit Connection, Inc. announced the appointment of Nick Jones as Chief Information Officer and Chief Operating Officer, effective June 15, 2026. Mr. Jones, 47, brings extensive experience from World Cinema, Inc. and NJT, Inc., and will receive an annual base salary of $300,000 along with a $50,000 restricted stock unit sign-on award. Concurrently, Richard Alder was released from his role as Chief Operations Officer, effective June 11, 2026, and will receive termination payments.

Elauwit Connection, Inc. announced that Kyle Huffman, its Chief Accounting Officer, will resign from his position, effective July 10, 2026. Following Mr. Huffman's departure, James Di Bartolo, the company's Chief Financial Officer, is expected to take over the responsibilities of principal accounting officer.

Elauwit Connection, Inc. reported a significant increase in net loss to $(2.16) million for Q1 2026, compared to $(0.44) million in Q1 2025, alongside an 18.65% decrease in revenue to $4.43 million. The company continues to experience recurring net losses and negative cash flows from operations, leading to a substantial doubt about its ability to continue as a going concern. To address liquidity, Elauwit secured a new $2.0 million business loan agreement with a related party in May 2026.

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.