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Elauwit Connection, Inc.
(NASDAQ:ELWT)
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Rating:50Neutral
Price Target:
$6.50
▼(-0.46% Downside)
Action:Reiterated
Date:07/10/26
The score is held back primarily by weak financial performance—ongoing losses and worsening negative operating/free cash flow—despite improving balance-sheet positioning and rapid multi-year revenue growth. Offsetting this, the earnings call pointed to strong unit growth and a sharply higher backlog that could support future revenue/recurring mix improvement, while technicals are mildly positive and valuation remains constrained by negative earnings and no dividend.
Positive Factors
Revenue Growth
Multi-year revenue acceleration demonstrates durable customer demand and scaling ability. Sustained top-line growth expands addressable market coverage and creates leverage for fixed-cost absorption, supporting a structural path toward higher recurring revenue and margin improvement over months.
Negative Factors
Negative Operating Cash Flow
Worsening negative operating and free cash flow signals the business is not yet self-funding and requires external capital or rapid margin gains. Persistent cash burn constrains runway for scaling, increases financing risk, and limits ability to invest opportunistically over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Multi-year revenue acceleration demonstrates durable customer demand and scaling ability. Sustained top-line growth expands addressable market coverage and creates leverage for fixed-cost absorption, supporting a structural path toward higher recurring revenue and margin improvement over months.
Read all positive factors
Elauwit Connection, Inc. (ELWT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.40M
Dividend YieldN/A
Average Volume (3M)89.92K
Price to Earnings (P/E)―
Beta (1Y)-0.39
Revenue Growth70.59%
EPS Growth-59.81%
CountryUS
Employees33
SectorGeneral
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)-1.08
Shares Outstanding6,619,796
10 Day Avg. Volume44,965
30 Day Avg. Volume89,922
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)6.04
Price to Sales (P/S)1.23
P/FCF Ratio-4.67
Enterprise Value/Market Cap0.59
Enterprise Value/Revenue1.34
Enterprise Value/Gross Profit8.05
Enterprise Value/Ebitda-4.72
Forecast
1Y Price Target
$12.00Price Target Upside83.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.51
Revenue Forecast (FY)$27.38M
Elauwit Connection, Inc. Business Overview & Revenue Model
Company Description
Elauwit Connection, Inc. delivers broadband internet networks to multifamily residences and student housing developments across the United States. The company manages the entire process of fiber optic and WiFi network deployment within each contra...
Elauwit Connection, Inc. Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Dec 14, 2026
Earnings Call Sentiment Positive
The call emphasized substantial operational and commercial momentum: triple-digit percentage increases in activated/build/billed units, a backlog that more than doubled year-over-year, and clear investments in sales, systems and operational scale backed by a NASDAQ listing and capital. These positives are offset in the near term by a 19% revenue decline, lumpy construction revenue recognition and materially higher operating losses driven by investment and public-company costs. Management frames the financial weakness as temporary and driven by timing and growth investments, with expectations for stronger Q3–Q4 and stabilization as recurring revenue ramps.Positive Updates
Rapid Unit Growth
Activated units increased 110% year-over-year to 24,530 (from 11,674); build units (fully revenue-generating) increased 115% to 20,059 (from 9,339); billed units up 114% YoY. Contracted units rose 29% to 36,720 (from 28,375).
Negative Updates
Revenue Decline
Total revenue for Q1 2026 decreased 19% year-over-year to $4.4 million (from $5.4 million), driven primarily by timing and lumpiness of new construction contracts.
Read all updates
Q1-2026 Updates
Positive
Negative
Rapid Unit Growth
Activated units increased 110% year-over-year to 24,530 (from 11,674); build units (fully revenue-generating) increased 115% to 20,059 (from 9,339); billed units up 114% YoY. Contracted units rose 29% to 36,720 (from 28,375).
Read all positive updates
Company Guidance
Management reiterated that full‑year 2026 remains on track with a stronger revenue cadence expected in Q3 and Q4 despite Q1 revenue of $4.4M (down 19% YoY), and said construction gross margins should return to roughly 15%; they expect lumpiness in construction timing but an overall robust year driven by recurring services and NaaS growth. Key operating metrics at March 31, 2026: 36,720 contracted units (+29% vs. 28,375), 24,530 activated units (+110% vs. 11,674), 20,059 billed/build units (+115% vs. 9,339), a contracted backlog of >$38M (vs. $15.6M a year earlier), and ~11,000 verbal commitments across ~40 properties in 16 states/DC (14 management groups); billed units are up ~114% YoY. Financials and liquidity highlighted: Q1 gross profit $0.8M (COGS $3.6M), operating expenses $3.0M, operating and net loss $2.2M (adjusted EBITDA loss $2.2M), cash $3.5M, AR $3.2M, inventory $1.0M, deferred revenue $3.8M; management noted a 12‑month onboarding ramp, balance‑sheet capacity to fund NaaS, and that identified systems and SG&A efficiencies (with incremental systems costs under a few hundred thousand dollars annually) should begin reducing costs starting in Q2 and through 2026.Elauwit Connection, Inc. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
35
Negative
Cash Flow
20
Very Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 21.62M | 8.49M | 3.92M |
| Gross Profit | 4.00M | 1.16M | 195.00K |
| EBITDA | -3.85M | -3.20M | -2.59M |
| Net Income | -4.23M | -3.47M | -2.69M |
Balance Sheet | |||
| Total Assets | 11.94M | 7.73M | 1.41M |
| Cash, Cash Equivalents and Short-Term Investments | 6.15M | 287.00K | 329.00K |
| Total Debt | 2.02M | 3.48M | 1.22M |
| Total Liabilities | 7.53M | 12.26M | 4.32M |
| Stockholders Equity | 4.42M | -4.54M | -2.91M |
Cash Flow | |||
| Free Cash Flow | -5.71M | -3.87M | -2.00M |
| Operating Cash Flow | -5.71M | -3.87M | -2.00M |
| Investing Cash Flow | 0.00 | 250.00K | 0.00 |
| Financing Cash Flow | 11.58M | 3.58M | 2.24M |
Elauwit Connection, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.52B | 18.66 | 24.73% | 0.47% | 4.24% | -14.30% | |
75 Outperform | $269.37M | 55.07 | 6.99% | ― | 16.31% | 67.84% | |
68 Neutral | $554.95M | 61.31 | 10.01% | ― | 11.70% | ― | |
58 Neutral | $35.57M | 2.54 | 12.54% | ― | -13.61% | -4.24% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | $46.40M | -6.58 | 164.21% | ― | 70.59% | -59.81% | |
49 Neutral | $6.87M | -0.38 | -85.21% | ― | 23.43% | -2.44% |
* General Sector Average
ELWT
Elauwit Connection, Inc.
7.01
-0.19
-2.64%
CXDO
Crexendo
8.31
2.55
44.27%
IDT
IDT
61.10
2.41
4.12%
OOMA
Ooma
20.18
8.05
66.36%
IQST
iQSTEL
1.02
-8.11
-88.83%
UCL
uCloudlink Group
0.93
-1.02
-52.10%
Elauwit Connection, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
Elauwit Connection Shareholders Reaffirm Board and Auditor Oversight
Positive
Jun 18, 2026
At its June 18, 2026 annual meeting, Elauwit Connection, Inc. shareholders elected three directors — Leslie Goodman, David O’Brien and Barry Rubens — each to three-year terms expiring in 2029, with strong support reflected in vot...
Business Operations and StrategyExecutive/Board Changes
Elauwit Connection Names Nick Jones As New CIO/COO
Positive
Jun 17, 2026
Elauwit Connection, Inc., a Nasdaq-listed national managed services provider specializing in turnkey broadband and property-wide WiFi for multifamily, student housing, and senior living communities, operates as a connectivity MSP dedicated to rent...
Business Operations and StrategyExecutive/Board Changes
Elauwit Connection Announces Chief Accounting Officer Transition
Neutral
Jun 15, 2026
Elauwit Connection, Inc. reported that Chief Accounting Officer Kyle Huffman notified the company on June 9, 2026, of his plan to resign effective July 10, 2026. Following Huffman’s departure, Chief Financial Officer James Di Bartolo is expe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.