ELWT revenue fell to $2.9M as project timing hurt results, while net loss expanded to $3.1M from $0.9M a year ago.
Elauwit Connection reported a 46% year-over-year decline in second-quarter revenue to $2.9M, citing delays in construction and installation projects. The company’s net loss deepened to $3.1M, or $0.47 per share, compared with a $0.9M loss, or $0.17 per share, in the same period last year.
The revenue drop contrasts with a 33% increase in contracted units, highlighting execution challenges. Prior-year Q2 revenue had not been disclosed in comparable detail, but the company previously signaled project timing risks.
No immediate market reaction was reported.