Elauwit Connection reports Q2 2026 earnings update
Elauwit Connection said second-quarter contracted units rose 33% year over year, with almost 5,900 new units contracted, while revenue fell 46% year over year on construction timing.
On Tuesday, Elauwit Connection (NASDAQ: ELWT ) discussed second-quarter financial results during its earnings call.
The full transcript is provided below.
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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Elauwit Connection reported a strong increase in contracted units by 33% year-over-year, with almost 5,900 new units contracted in the second quarter alone, despite a short-term decline in revenue due to construction timing.
The company expects to exceed 50,000 units under contract by year-end, aiming for a 46% annualized increase, with significant growth in activated and build units supporting long-term recurring revenue.
Management has implemented cost reduction initiatives expected to yield $1.9 million in annual savings, enhancing operating efficiency and preparing for an expected uptick in construction and recurring service revenue in the second half of 2026.
The sales strategy has shifted from a broad to a more targeted approach, focusing on high-density markets and existing customer conversions, which has led to verbal commitments and a strong pipeline of potential contracts.
Despite a decrease in Q2 revenue by 46% year-over-year due to construction project timing, the company maintains a strong balance sheet and a backlog of over $38 million in construction and recurring service revenue, with optimism for improved financial performance in the latter half of the year.
Full Transcript OPERATOR Good day and welcome to the Elauwit Connection second quarter 2026 results call.
All participants will be in a listen-only mode.
Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.
After today's presentation there will be an opportunity to ask questions.
To ask a question you may press star then one on your touch-tone phone, and to withdraw your question please press star then two.
Please note this event is being recorded.
I would now like to turn the conference over to Mr.
Matt Krepps of Investor Relations for the company.
Please go ahead, sir.
Matt Krepps, Investor Relations Thank you and good morning to all.
Thank you for joining us today to discuss Elauwit Connection's second quarter 2026 financial results and business update.
The earnings release covering our 2Q 2026 results is now available on the Investors page of our website at investors.elwood.com.
We plan to file our Form 10-Q in the next few days.
I would encourage you to review the full text of the release and the accompanying financial tables in conjunction with today's discussion.
This conference call is being webcast live and will be available for replay on our Investors page.
Speaking on the call today are our executive chairman Dan McDonough, chief executive officer Barry Rubins, and chief financial officer James DeBartolo.
We will cover our prepared remarks on the business and financial results, then open the call for questions from our analysts and institutional investors.
Please note that during this call management will make projections and other forward-looking statements regarding our future performance.
Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those noted in the earnings release as well as other risks that are more fully described in Elauwit Connection's filings with the SEC.
Our actual results may vary materially from those projected in the forward-looking statements.
We encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ from our current expectations.
Elauwit Connection specifically disclaims any intent or obligation to update these forward-looking statements except as required by law.
We will also reference adjusted EBITDA, which is a non-GAAP financial measure.
A description of adjusted EBITDA along with a reconciliation of adjusted EBITDA to the most comparable GAAP financial measure can be found in our earnings release.
And with that, I will now turn the call over to Dan.
Dan McDonough, Executive Chairman Thank you, Matt, and thank you to everyone who has joined today's call.
I'll begin today with an overview of the business trends.
Barry will have a discussion around our operations, and James will provide a few highlights from the financial results.