Elauwit (ELWT) Q2 2026 Earnings Call: Contracted Units Rise 33%
Source Tradingkey
Key Takeaways
- Q2 2026 revenue fell 46% year over year to $2.9 million, mainly due to the timing of variable construction and installation projects.
- Contracted units increased 33% year over year to 42,687. Elauwit added nearly 5,900 units across 21 properties during the quarter and signed more than 10,000 units in the first half.
- Activated units rose 94% to 27,134, while billed units increased 163% to 22,967, expanding the base expected to generate recurring service revenue.
- Elauwit reported a Q2 net loss of $3.1 million and an adjusted EBITDA loss of $3.0 million, reflecting public-company expenses and investment in sales, marketing and efficiency initiatives.
- Management expects construction activity to be weighted toward the second half of 2026 and aims to exceed 50,000 contracted units by year-end.
- Contracted backlog reached more than $38.9 million. The company also identified approximately $1.9 million in annualized operating cost benefits.
Core Financial Data
| Metric | Q2 2026 | Year-over-year comparison | Commentary |
|---|---|---|---|
| Revenue | $2.9 million | Down 46% | Construction and installation timing reduced revenue |
| Cost of revenue | $2.4 million | $4.5 million in Q2 2025 | Declined with lower construction activity |
| Gross profit | $0.4 million | $0.8 million in Q2 2025 | Lower construction revenue weighed on profit |
| Gross margin | 15.5% | 15.1% in Q2 2025 | Increased by 40 basis points |
| Operating expenses | $3.5 million | $1.5 million in Q2 2025 | Higher scale, public-company costs and growth investments |
| Operating loss | $3.1 million | $0.7 million loss in Q2 2025 | Higher expenses and lower revenue |
| Net loss | $3.1 million | $0.9 million loss in Q2 2025 | Sales, marketing and public-company costs increased |
| Adjusted EBITDA | $(3.0) million | $(0.7) million in Q2 2025 | Non-GAAP loss widened |
| First-half revenue | $7.3 million | Down 32.4% | New construction is weighted toward the second half |
| Contracted backlog | More than $38.9 million | $35.9 million at June 30, 2025 | Includes installations and long-term recurring services |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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