The company's financial position remains fragile, highlighted by a cumulative deficit in retained earnings of $16.8M and a debt-to-equity ratio of 0.82 as of 2026Q1.
| Total Current Assets | 8.41M | 10.33M | 6.67M | 1.38M |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | 3.53M | 6.15M | 287K | 329K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | 1.03M | 1M | 1.61M | 156K |
| Days Inventory Outstanding | 27.42 | 20.8 | 79.96 | 15.27 |
| Other Current Assets | 443K | 550K | 258K | 0 |
| Total Non-Current Assets | 1.51M | 1.61M | 1.06M | 25K |
| Property, Plant & Equipment | 14K | 28K | 55K | 0 |
| Fixed Asset Turnover | 596.53x | 772.07x | 154.45x | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 4.31M | 0 | 1.01M | 30K |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 9.92M | 11.94M | 7.73M | 1.41M |
| Asset Turnover | 1.97x | 1.81x | 1.10x | 2.79x |
| Asset Growth % | 58.71% | 54.58% | 448.72% | - |
| Total Current Liabilities | 6.46M | 6.22M | 9.18M | 2.97M |
| Accounts Payable | 1.09M | 1.81M | 1.91M | 391K |
| Days Payables Outstanding | 45.72 | 37.57 | 95.3 | 38.28 |
| Short-Term Debt | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 563K | 0 | 0 | -116K |
| Current Ratio | 1.30x | 1.66x | 0.73x | 0.47x |
| Quick Ratio | 1.14x | 1.50x | 0.55x | 0.41x |
| Cash Conversion Cycle | -18.3 | - | - | - |
| Total Non-Current Liabilities | 1.18M | 1.3M | 3.09M | 1.35M |
| Long-Term Debt | 888K | 996K | 2.73M | 673K |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 7.64M | 7.53M | 12.26M | 4.32M |
| Total Debt | 1.88M | 2.02M | 3.48M | 1.22M |
| Net Debt | -1.66M | -4.13M | 3.19M | 890K |
| Debt / Equity | 0.82x | 0.46x | - | - |
| Debt / EBITDA | -0.33x | - | - | - |
| Net Debt / EBITDA | 0.29x | - | - | - |
| Interest Coverage | - | -10.98x | -12.62x | -26.45x |
| Total Equity | 2.28M | 4.42M | -4.54M | -2.91M |
| Equity Growth % | 345.06% | 197.35% | -55.66% | - |
| Book Value per Share | 0.34 | 0.84 | -0.68 | -0.44 |
| Total Shareholders' Equity | 2.28M | 4.42M | -4.54M | -2.91M |
| Common Stock | 0 | 0 | 0 | 0 |
| Retained Earnings | -16.75M | -14.59M | -10.37M | -6.89M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | -30K | -30K |
| Minority Interest | 0 | 0 | 0 | 0 |
Persistent negative equity position
As reported in recent financial filings, Elauwit Connection's equity position has remained deeply negative for most of the last six quarters, with a cumulative deficit of $16.8M in 2026Q1, signaling a structural inability to generate retained earnings to offset ongoing operational losses and debt obligations.
The company's trajectory reflects a balance sheet that has been consistently impaired by recurring net losses. This trend suggests that the business model lacks the necessary scale to achieve self-sustaining growth, leaving the capital structure in a precarious state that warrants significant caution from investors.
Based on the company's reported figures, total debt reached $1.9M in 2026Q1, and while the debt-to-equity ratio appears to have stabilized at 0.82, this metric is heavily distorted by the company's persistent negative equity position, which obscures the true extent of the firm's financial leverage.
The reliance on debt in the face of negative equity suggests that the company may be struggling to secure alternative financing sources. Investors should monitor whether this debt load remains manageable given the company's apparent inability to generate consistent positive cash flow from its core operations.
According to quarterly balance sheet data, the current ratio improved to 1.30 in 2026Q1 from a low of 0.71 in 2025Q3, yet this recovery appears largely driven by shifts in working capital rather than a fundamental improvement in the company's underlying cash-generating capacity or operational efficiency.
While the current ratio suggests a marginal improvement in short-term solvency, the company's cash position remains susceptible to rapid depletion. The lack of a robust liquidity buffer indicates that any further operational setbacks could quickly compromise the firm's ability to meet its immediate financial obligations.
Data from the most recent quarterly filings reveals that deferred revenue stood at $3.8M in 2026Q1, representing a significant portion of total liabilities and suggesting that the company's reported revenue may be heavily reliant on pre-paid service contracts rather than organic, recurring demand for its telecommunications offerings.
This reliance on deferred revenue may provide a misleading picture of the company's current market health. If the company fails to deliver on these performance obligations, it could face significant refund liabilities, further straining an already vulnerable balance sheet and exacerbating the existing liquidity risks.
Quick answers to the most common questions about buying ELWT stock.
As of 2025, Elauwit Connection, Inc. Common Stock (ELWT) had total assets of $11.9M including $10.3M in current assets.
Elauwit Connection, Inc. Common Stock (ELWT) carries total debt of $2.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Elauwit Connection, Inc. Common Stock (ELWT) has total shareholders' equity (book value) of $4.4M ($0.84 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Elauwit Connection, Inc. Common Stock (ELWT) reported a current ratio of 1.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.