Elauwit Connection Posts $639,000 Net Loss in Q3 FY2025 Despite Revenue Surge

Elauwit Connection, Inc. reported a net loss of $639,000 for the three months ending September 30, 2025, an improvement from the $970,000 loss posted in the same quarter a year earlier. Revenue for Q3 FY2025 reached $4.78 million, up 153% from $1.89 million in the prior-year quarter. Read more earnings reports.

For the nine months ending September 30, 2025, the company recorded a net loss of $1.94 million on revenue of $15.55 million, compared with a net loss of $2.38 million on revenue of $5.18 million in the same period of 2024. The company's revenue tripled year-over-year for the nine-month period.

Gross profit for Q3 FY2025 stood at $1.42 million, yielding a gross margin of 29.7%, up sharply from $214,000 and an 11.4% margin in Q3 FY2024. Cost of revenue for the quarter was $3.36 million, up from $1.67 million a year earlier.

Operating expenses for the three months ending September 30, 2025 totaled $1.77 million, compared with $1.10 million in the prior-year quarter. The company reported an operating loss of $353,000 for Q3 FY2025, narrower than the $881,000 operating loss in Q3 FY2024.

Balance Sheet Deterioration

Total assets declined to $7.70 million as of September 30, 2025, down from $7.73 million at the end of 2024. Cash and cash equivalents stood at $762,000, up from $287,000 at year-end 2024.

Stockholders' equity remained deeply negative at -$6.44 million as of September 30, 2025, worsening from -$4.54 million at December 31, 2024. The company's retained deficit widened to -$12.30 million from -$10.37 million over the same period.

Total liabilities increased to $14.14 million as of September 30, 2025, up from $12.26 million at the end of 2024. Accounts payable rose to $2.74 million from $1.91 million. Long-term debt totaled $2.16 million, down from $2.73 million at year-end.

Cash Flow and Receivables

Cash from operations was negative $1.31 million for the nine months ending September 30, 2025, an improvement from negative $3.11 million in the prior-year period. Cash from financing activities contributed $1.78 million during the nine months.

Accounts receivable declined to $3.17 million as of September 30, 2025, down from $4.45 million at the end of 2024. Inventory increased to $1.84 million from $1.61 million over the same period.

Per-Share Metrics

The company reported a loss of $0.13 per share (both basic and diluted) for Q3 FY2025, compared with a loss of $0.27 per share in Q3 FY2024. For the nine months, the loss per share was $0.39, versus $0.78 in the prior-year period.

Weighted average shares outstanding (basic) stood at 5.00 million for both the three- and nine-month periods ending September 30, 2025, up from 3.57 million and 3.06 million, respectively, in the prior year. The company had 6.62 million shares outstanding as of September 30, 2025.