Elauwit Connection, Inc. (ELWT) Income Statement
ELWT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsELWT revenue and net income
Where ELWT's revenue goes
2025Each bar shows an amount and its share of revenue. ELWT kept −19.6% of revenue as net income.
ELWT profit margins
ELWT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +154.5% | — | — | — |
| Gross profit | +244.0% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ELWT quarterly EPS vs estimates
Elauwit Connection beat the analyst EPS estimate in 0 of the last 4 quarters.
ELWT income statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $21.6M | $8.5M | $3.9M |
| Cost of revenue | $17.6M | $7.3M | $3.7M |
| Gross profit | $4.0M | $1.2M | $195,000 |
| Research & development | $19,000 | $1,000 | $11,000 |
| Sales, general & admin | $7.7M | $4.4M | $2.8M |
| Total operating expenses | $7.7M | $4.4M | $2.8M |
| Operating income | −$3.7M | −$3.2M | −$2.6M |
| Interest expense | $353,000 | $255,000 | $98,000 |
| Income before taxes | −$4.2M | −$3.5M | −$2.7M |
| Income taxes | — | $1,000 | — |
| Net income | −$4.2M | −$3.5M | −$2.7M |
| EBITDA | −$3.8M | −$3.2M | −$2.6M |
| EPS (diluted) | −$0.72 | −$0.52 | — |
| Gross margin | 18.5% | 13.7% | 5.0% |
| Operating margin | −17.1% | −37.9% | −66.1% |
| Net margin | −19.6% | −40.9% | −68.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.9M | $4.4M | $4.7M | $5.2M | $6.1M | $5.6M | $3.3M | $1.9M | $1.7M | $1.6M |
| Cost of revenue | $2.4M | $3.6M | $5.5M | $3.4M | $4.5M | $4.2M | $3.0M | $1.7M | $1.5M | $1.1M |
| Gross profit | $443,000 | $827,000 | −$868,000 | $1.9M | $1.6M | $1.4M | $280,000 | $214,000 | $172,000 | $498,000 |
| Research & development | — | — | $10,000 | $9,000 | $0 | $0 | $0 | $0 | $0 | $1,000 |
| Sales, general & admin | $3.5M | $3.0M | $2.8M | $1.8M | $1.5M | $1.6M | $1.3M | $1.1M | $1.0M | $929,000 |
| Total operating expenses | $3.5M | $3.0M | $2.8M | $1.8M | $1.5M | $1.6M | $1.3M | $1.1M | $1.0M | $930,000 |
| Operating income | −$3.1M | −$2.2M | −$3.6M | $118,000 | $9,000 | −$198,000 | −$1.0M | −$881,000 | −$868,000 | −$432,000 |
| Interest income | — | $38,000 | — | — | — | — | — | — | — | — |
| Interest expense | $27,000 | — | $58,000 | $109,000 | $113,000 | $73,000 | $70,000 | $73,000 | $75,000 | $37,000 |
| Income before taxes | −$3.1M | −$2.2M | −$3.7M | −$167,000 | −$104,000 | −$271,000 | −$1.1M | −$954,000 | −$943,000 | −$469,000 |
| Income taxes | $4,000 | — | −$5,000 | $1,000 | $4,000 | — | −$16,000 | $16,000 | $1,000 | — |
| Net income | −$3.1M | −$2.2M | −$3.7M | −$168,000 | −$108,000 | −$271,000 | −$1.1M | −$970,000 | −$944,000 | −$469,000 |
| EBITDA | −$3.1M | −$2.1M | −$3.6M | −$45,000 | $23,000 | −$186,000 | −$1.0M | −$873,000 | −$868,000 | −$432,000 |
| EPS (diluted) | −$0.47 | −$0.33 | −$0.69 | −$0.03 | — | — | — | — | — | — |
| Gross margin | 15.5% | 18.7% | −18.6% | 36.0% | 25.6% | 25.5% | 8.5% | 11.4% | 10.1% | 31.2% |
| Operating margin | −108.5% | −49.7% | −77.7% | 2.2% | 0.1% | −3.5% | −31.3% | −46.7% | −51.0% | −27.1% |
| Net margin | −109.6% | −48.8% | −78.7% | −3.2% | −1.8% | −4.8% | −32.9% | −51.5% | −55.5% | −29.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ELWT's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ELWT financial results
In fiscal year 2025 (ended December 31, 2025), Elauwit Connection reported revenue of $21.6 million, up 154.5% from the year before. It had a net loss of $4.2 million, a net profit margin of −19.6%. Diluted earnings per share came to −$0.72.
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ELWT income statement FAQ
What is Elauwit Connection's annual revenue?
Elauwit Connection reported total revenue of $21.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 154.5% from $8.5 million the previous year.
Is Elauwit Connection profitable?
No. Elauwit Connection reported a net loss of $4.2 million in fiscal 2025, a net profit margin of −19.6%; its operating margin was −17.1%.
What is Elauwit Connection's gross margin?
Elauwit Connection's gross margin was 18.5% in fiscal 2025: for every $100 of revenue, Elauwit Connection kept $19 after the direct cost of its products and services.
How much does Elauwit Connection spend on research and development?
Elauwit Connection spent $0.0 million on research and development in fiscal 2025, 0.1% of revenue.
What are Elauwit Connection's earnings per share?
Elauwit Connection earned $-0.72 per diluted share in fiscal 2025, compared with $-0.52 a year earlier.
When does Elauwit Connection's fiscal year end?
Elauwit Connection's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.