Elauwit Connection . Common Stock Stock Earnings Reports

Elauwit reported a Q1 2026 quarter marked by strong operational progress despite a near-term revenue decline driven by timing of construction contracts. Key operating metrics improved sharply year-over-year: billed/activated units rose ~110%, build (revenue-generating) units rose ~115%, and contracted units increased 29% to 36,720. Management emphasized two business models—managed services (owner-funded installs with shared monthly fees) and Network-as-a-Service (NaaS, company-funded installs with longer-term contracts)—and is scaling sales, marketing, and technical operations (AI-enabled sales stack, expanded PMO, larger subcontractor network, NOC expansion) to support rapid growth. They reported a contracted backlog of more than $38 million (construction + recurring revenue) and verbal commitments for ~11,000 new units across 16 states this year. Financials: revenue fell 19% YoY to $4.4M (construction timing), gross profit $0.8M, operating loss and net loss $2.2M, adjusted EBITDA loss $2.2M. Balance sheet: cash ~$3.5M, AR $3.2M, inventory $1.0M. Management expects stronger construction revenue in H2 2026, continued ramp of recurring service revenue, and that their NASDAQ listing and capital raise enable broader NaaS adoption to capture a larger portion of the market.