Revenue volatility and structural margin instability are evident, with the company reporting a -48.8% net margin in 2026Q1 alongside a 21.1% decline in top-line growth.
| Sales/Revenue | 20.43M | 21.62M | 8.49M | 3.92M |
| Revenue Growth % | - | 154.48% | 116.54% | - |
| Cost of Goods Sold | 17.03M | 17.61M | 7.33M | 3.73M |
| COGS % of Revenue | - | 81.48% | 86.3% | 95.03% |
| Gross Profit | 3.4M | 4M | 1.16M | 195K |
| Gross Margin % | 16.65% | 18.52% | 13.7% | 4.97% |
| Gross Profit Growth % | - | 243.99% | 496.92% | - |
| Operating Expenses | 9.11M | 7.71M | 4.38M | 2.79M |
| OpEx % of Revenue | - | 35.66% | 51.58% | 71.04% |
| Selling, General & Admin | 9.09M | 7.69M | 4.38M | 2.78M |
| SG&A % of Revenue | - | 35.58% | 51.57% | 70.76% |
| Research & Development | 19K | 19K | 1K | 11K |
| R&D % of Revenue | - | 0.09% | 0.01% | 0.28% |
| Other Operating Expenses | 0 | - | - | - |
| Operating Income | -5.71M | -3.71M | -3.22M | -2.59M |
| Operating Margin % | -27.94% | -17.14% | -37.88% | -66.07% |
| Operating Income Growth % | - | -15.16% | -24.15% | - |
| EBITDA | -5.68M | -3.68M | -3.2M | -2.59M |
| EBITDA Margin % | -27.8% | -17.02% | -37.68% | -66% |
| EBITDA Growth % | - | -14.93% | -23.64% | - |
| D&A (Non-Cash Add-back) | 29K | 27K | 17K | 3K |
| EBIT | -5.88M | -3.88M | -3.22M | -2.59M |
| Net Interest Income | -242K | -353K | -255K | -98K |
| Interest Income | 38K | 0 | 0 | 0 |
| Interest Expense | 0 | - | - | - |
| Other Income/Expense | 0 | - | - | - |
| Pretax Income | -6.12M | -4.23M | -3.47M | -2.69M |
| Pretax Margin % | -29.95% | -19.56% | -40.88% | -68.57% |
| Income Tax | 0 | 0 | 1K | 0 |
| Effective Tax Rate % | 0% | 0% | -0.03% | 0% |
| Net Income | -6.12M | -4.23M | -3.47M | -2.69M |
| Net Margin % | -29.95% | -19.56% | -40.89% | -68.57% |
| Net Income Growth % | - | -21.7% | -29.14% | - |
| Net Income (Continuing) | -6.12M | -4.23M | -3.47M | -2.69M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.92 | -0.80 | -0.52 | -0.40 |
| EPS Growth % | - | -53.85% | -30% | - |
| EPS (Basic) | - | -0.80 | -0.52 | -0.40 |
| Diluted Shares Outstanding | 6.62M | 5.26M | 6.67M | 6.67M |
| Basic Shares Outstanding | 6.62M | 5.26M | 6.67M | 6.67M |
| Dividend Payout Ratio | - | - | - | - |
Persistent operating losses
As reported in recent financial filings, Elauwit Connection experienced a 21.1% revenue decline in 2026Q1 compared to the prior year, highlighting significant top-line instability that complicates long-term forecasting and suggests that the company is struggling to maintain its market share within the competitive telecommunications services landscape.
The erratic revenue performance, characterized by sharp quarterly fluctuations, indicates a lack of predictable demand for the company's service offerings. This volatility suggests that Elauwit may be facing structural challenges in customer retention or pricing power that prevent consistent growth.
Based on the company's reported figures, gross margins have fluctuated wildly, reaching a negative 18.6% in 2025Q4 before recovering to 18.7% in 2026Q1, which underscores a fundamental inability to maintain consistent cost control or stable pricing power against industry peers in the telecommunications sector.
The extreme variance in gross margins suggests that the company's cost of goods sold is highly sensitive to operational disruptions or inefficient service delivery. Investors should monitor whether these margin swings are indicative of deeper, systemic issues in the company's core service model.
According to the income statement data, Elauwit's operating expenses consistently outpace gross profit, resulting in a negative operating margin of 49.7% in 2026Q1, which demonstrates a failure to achieve the necessary scale to cover fixed overhead costs in the current operating environment.
The persistent gap between revenue generation and operating expenses suggests that the company's current cost structure is fundamentally misaligned with its scale. Without a significant reduction in SG&A or a substantial increase in revenue, the company appears unlikely to achieve operating leverage in the near term.
Data from the most recent quarterly filings reveals that Elauwit Connection continues to report significant net losses, with a net margin of negative 48.8% in 2026Q1, raising serious questions regarding the long-term viability of the business model without external capital or a major strategic pivot.
The recurring nature of these losses suggests that the company is currently unable to generate sufficient cash flow to sustain its operations independently. This trend warrants further investigation into the company's liquidity position and its ability to fund ongoing deficits without further diluting shareholders.
Quick answers to the most common questions about buying ELWT stock.
For fiscal year 2025, Elauwit Connection, Inc. Common Stock (ELWT) reported total revenue of $21.6M. This represents a 451.1% increase compared to $3.9M in 2023.
Elauwit Connection, Inc. Common Stock (ELWT) reported a net loss of $4.2M for the fiscal year ending 2025.
Elauwit Connection, Inc. Common Stock (ELWT) reported an operating income of $-3.7M, resulting in an operating profit margin of -17.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Elauwit Connection, Inc. Common Stock (ELWT) generated $4.0M in gross profit for the year, representing a gross profit margin of 18.5%. This demonstrates the company's core pricing power and production efficiency.