Elauwit Connection Inc 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the Transition Period from Elauwit Connection,Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation ororganization) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filerNon-accelerated filer☑Smaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange As of May 8, 2026, 6,619,796 shares of the registrant’s common stock, par value $0.0001 per share, were outstanding. Table of Contents PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS Unaudited Condensed Balance Sheets as of March 31, 2026 and December 31, 2025Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2026 and2025Unaudited Condensed Statements of Stockholders’ Equity (Deficit) for the Three Months EndedMarch 31, 2026 and 2025Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2026 and2025Notes to Unaudited Condensed Financial Statements ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ANDRESULTS OF OPERATIONS ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK36 39 ELAUWIT CONNECTION, INC.Unaudited Condensed Balance Sheets (in thousands, except share and par value data) ELAUWIT CONNECTION, INC.Unaudited Condensed Statements of Operations(in thousands, except share and per value data) ELAUWIT CONNECTION, INC.Unaudited Condensed Statements of Stockholders’ Equity (Deficit) ELAUWIT CONNECTION, INC. Notes to Unaudited Condensed Financial Statements Note 1. Organization and Nature of Operations The Company Elauwit Connection,Inc. (“Elauwit” or the “Company”) is a technology services company that specializes in providingadvanced connectivity solutions for buildings by enhancing internet and network infrastructure for property ownersand managers. Elauwit provides these solutions by designing and implementing high-speed internet, video, and othertechnology solutions to ensure seamless connectivity for residents and tenants, with the goal of putting more control in On September 13, 2024 (the “Closing Date”), Legacy Elauwit Connection, Inc., a Delaware corporation, incorporatedin December 2019 (“Legacy Elauwit”) and DeltaMax, Inc. (“DeltaMax”), a privately-held Delaware corporation,consummated a merger transaction (the “Merger”), with DeltaMax being the legal successor or surviving corporation.As part of the Merger, DeltaMax changed its name to Elauwit Connection, Inc. and issued an aggregate of 5,000,000Merger Shares (2,497,950 ClassA and 2,502,050 ClassB) to the owners of Legacy Elauwit based on a 4.11795 share The Merger was accounted for as a reverse recapitalization, with Legacy Elauwit determined to be the accountingacquirer. Accordingly, the unaudited condensed financial statements of the Company represent a continuation of thefinancial statements of Legacy Elauwit, with the exception of legal capital. Periods prior to the Merger have common Initial Public Offering On November 4, 2025, the Company entered into an Underwriting Agreement (the “Underwriting Agreement”) withCraig‑Hallum Capital Group LLC, as representative of the underwriters (the “Representative”), in connection with anunderwritten public offering (the “Offering”) of 1,667,000 shares of common stock at a public offering price of $9.00per share. The underwriters agreed to purchase the shares at a 7.0% discount to the public offering price, and theCompany granted the Representative a 45‑day option to purchase up to an additional 250,050 shares of common stockto cover over‑allotments, if any. The Offering closed on November 6, 2025,