Elauwit Connection, Inc. delivers broadband internet networks to multifamily residences and student housing developments across the United States. The company manages the ...
Elauwit Connection, Inc. is a telecommunications services company specializing in delivering high-speed broadband internet to multifamily residential and student housing properties throughout the United States. Founded in 2019 and headquartered in Cheyenne, Wyoming, the company has established a niche by managing the entire lifecycle of network deployment within contracted properties, ...Elauwit Connection, Inc. is a telecommunications services company specializing in delivering high-speed broadband internet to multifamily residential and student housing properties throughout the United States. Founded in 2019 and headquartered in Cheyenne, Wyoming, the company has established a niche by managing the entire lifecycle of network deployment within contracted properties, from initial design and installation to ongoing operation and maintenance. This end-to-end service model ensures that property owners and managers can offer reliable, high-quality internet access to residents without the complexity of managing the infrastructure themselves.
The company's product and service portfolio includes fiber optic network design and installation, WiFi network setup, bandwidth provision, continuous 24/7 network monitoring, regular maintenance, and resident support. By handling all technical aspects, Elauwit allows property managers to focus on their core business while enhancing tenant satisfaction. The company targets a diverse clientele, including wholesale partners, Real Estate Investment Trusts (REITs), property owners, and property management companies, strategically positioning itself in the growing demand for connected living spaces.
Financially, Elauwit has a market capitalization of approximately $53.9 million as of the latest data. The company reported a revenue per share of $3.09, but has been operating at a loss, with a net profit margin of -29.9% and an EBITDA margin of -28.4%. Its enterprise value-to-sales ratio stands at 2.56, indicating that the market values the company at a premium relative to its revenues, possibly due to growth expectations. The company's balance sheet shows a current ratio of 1.30, suggesting reasonable short-term liquidity, but it has negative operating cash flow, which may indicate heavy investment in network infrastructure or operational challenges.
Key people include Barry R. Rubens, who serves as CEO, having co-founded the company, and Dan McDonough, the founder and Executive Chairman, who originally founded Elauwit LLC in 2002. Taylor Jones is co-founder, President, and CTO. The management team's deep industry experience in telecom and managed WiFi services positions the company for potential growth in the smart building and student housing markets.
With only about 34 employees, Elauwit operates as a lean organization, relying on scalable technology and partnerships. The company went public on NASDAQ in 2025, and its stock has traded within a range of $4.11 to $9.72 over the past 52 weeks. Despite current financial challenges, Elauwit aims to capitalize on the increasing demand for reliable internet in residential communities, potentially expanding its client base and improving profitability in the future.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$21.6M
+154.5%
-35.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-4.2M
-21.7%
-44.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+18.5%
+35.2%
-16.9%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-17.1%
+54.7%
-118.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-19.6%
+52.2%
-124.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-5.7M
-47.6%
-9.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-26.4%
+42.0%
-69.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
45.9%
+159.9%
-528.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.66x
+128.4%
-30.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and welcome to the Elauwit Second Quarter 2026 Results Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Mr. Matt Kreps of Investor Relations for the company. Please go ahead, sir.
Matthew Kreps: Thank you, and good morning to all. Thank you for joining us today to discuss Elauwit'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.elauwit.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 Executive Chairman, Dan McDonough; Chief Executive Officer, Barry Rubens; and Chief Financial Officer, James Di Bartolo. 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'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 specifically disclaims any intent or obligation to update these forward-looking statements except as required by law. We'll 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. Please go ahead.
Daniel McDonough: 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. Then we'll open to questions from our analysts. The second quarter showed continued strong progress on the key metrics that will drive our growth in long-term recurring service revenue. We remain fully focused on execution, and the sales activity shows the traction in those efforts. In fact, we achieved record year-over-year and quarter-over-quarter increases in contracted units, with almost 5,900 new units across 21 properties contracted in the second quarter alone. For those tracking, …
