Elauwit Connection Appoints Nick Jones as Chief Information Officer and Chief Operating Officer

Elauwit Connection (NASDAQ: ELWT) named Nick Jones as Chief Information Officer and Chief Operating Officer, succeeding Chief Operations Officer Rick Alder.

Rhea-AI Summary

Elauwit Connection (NASDAQ: ELWT) named Nick Jones as Chief Information Officer and Chief Operating Officer, succeeding Chief Operations Officer Rick Alder.

According to Elauwit, under Alder the company expanded to 176 sites and nearly 40,000 units in 15 months and improved key customer satisfaction and support metrics.

Positive

• Expanded to 176 sites and nearly 40,000 units in 15 months while going public
• Improved overall Google customer satisfaction to 4.4 stars
• Raised customer support one-touch call resolution from 70% to 87%
• Introduced a comprehensive product catalog including new retail business products at multi-purpose properties
• Appointed experienced executive Nick Jones as CIO and COO

Negative

• None.

Argus Jun 17 session

-8.61% close to close Open Argus

Details

News Market Reaction – ELWT

In the Jun 17 session, ELWT declined 8.61%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -8.6% in the session following this news. A negative reaction despite this leadershi...

Analysis

The stock moved -8.6% in the session following this news. A negative reaction despite this leadership update would fit a backdrop where fundamentals remain under scrutiny after Q1 2026 revenue of $4.4 million and a net loss of about $2.2 million. While the incoming CIO/COO brings scale experience, management turnover and prior going-concern discussions may keep risk perceptions elevated. Past news events generally saw price moves align with their tone, so a sharp decline here could reflect renewed focus on execution and profitability challenges.

Key Figures

Served properties (prior role): more than 8,000 properties Rooms served (prior role): more than 1 million rooms Brands served (prior role): more than 200 brands +5 more

Served properties (prior role)

more than 8,000 properties

World Cinema portfolio served by Nick Jones

Rooms served (prior role)

more than 1 million rooms

World Cinema portfolio served by Nick Jones

Brands served (prior role)

more than 200 brands

World Cinema portfolio served by Nick Jones

Expanded sites

176 sites

Expansion during IPO phase under Rick Alder

Expanded units

nearly 40,000 units

Expansion during IPO phase under Rick Alder

Expansion period

15 months

Timeframe while Elauwit was going public

Customer satisfaction rating

4.4 stars

Google customer satisfaction under Alder’s tenure

One-touch resolution improvement

from 70% to 87%

Customer support one-touch call resolution

Historical Context

5 past events · Latest: May 14

5 events

1. May 14

   Q1 2026 results

   24h Move

   -4.0%

   Mixed Q1 revenue decline but strong backlog and unit growth metrics.

2. May 11

   Earnings date set

   24h Move

   -1.3%

   Announcement of timing for Q1 2026 results and conference call.

3. Apr 08

   Partnership expansion

   24h Move

   +1.3%

   Expanded Thompson Thrift partnership to deploy managed WiFi across new units.

4. Apr 01

   CFO appointment

   24h Move

   +8.8%

   New CFO with capital markets background following recent IPO.

5. Mar 31

   Full-year 2025 results

   24h Move

   +0.3%

   Reported 154% revenue growth and strong recurring service expansion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

managed services, broadband, wifi, network engineer, +2 more

6 terms

managed services technical

"a national managed services provider of turnkey broadband and property-wide WiFi"

Managed services are when a business hires an outside provider to run and maintain a specific ongoing function—commonly IT, cybersecurity, networks, or back-office tasks—under a contract that includes monitoring, updates and problem resolution. For investors this matters because it creates predictable costs and recurring revenue for the provider while reducing operational risk and capital spending for the client, much like hiring a building superintendent to keep systems running so management can focus on growth.

broadband technical

"provider of turnkey broadband and property-wide WiFi networks serving multifamily"

Broadband is high-speed internet service that carries large amounts of data quickly over wires, fiber, or wireless networks — think of it as a multi-lane highway for online traffic. For investors it matters because broadband availability, speed, and capacity drive consumer and business demand, influence revenue potential and pricing power, and require significant infrastructure investment and regulatory decisions that affect a provider’s growth and profitability.

wifi technical

"turnkey broadband and property-wide WiFi networks serving multifamily"

Wi-Fi is a technology that lets devices like phones, laptops, and sensors connect wirelessly to the internet and to each other over short distances, using radio signals instead of cables. For investors it matters because Wi‑Fi affects how products work, how businesses run and scale, and where revenue or costs may come from—think of it as the invisible roadway that enables digital services, office productivity, retail checkout and many internet‑connected devices to function reliably.

network engineer technical

"and a Network Engineer at Schlumberger, First Edge Sornson and Castle Dental."

A network engineer designs, builds and maintains the digital pathways that carry a company’s data, like a city’s road crew planning and fixing routes so traffic flows smoothly. For investors, their work matters because reliable, secure networks keep sales systems, cloud services and internal operations running; strong network management reduces downtime, cyber risk and unexpected costs that can affect revenue and share value.

customer support technical

"Improved customer support "one-touch" call resolution from 70% to an astounding 87%."

Customer support is the team and systems a company uses to help buyers with questions, problems, returns or technical issues after a purchase — think of it as a company’s help desk or safety net. Investors watch customer support because quick, effective help keeps customers returning and spending more, reduces complaints and legal risks, and can lower costs over time, so it directly affects revenue, reputation and long‑term value.

one-touch call resolution technical

"Improved customer support "one-touch" call resolution from 70% to an astounding 87%."

One-touch call resolution means a customer’s problem or question is fully handled during the first phone interaction without transfers, follow-up calls, or additional steps. For investors, higher one-touch rates signal a company’s service is efficient and reliable—like fixing an appliance in a single visit rather than scheduling multiple repairs—which can cut support costs, boost customer satisfaction and lower churn, all of which support revenue and margins.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Columbia, South Carolina--(Newsfile Corp. - June 17, 2026) - Elauwit Connection, Inc. (NASDAQ: ELWT) ("Elauwit" or the "Company"), a national managed services provider of turnkey broadband and property-wide WiFi networks serving multifamily, student housing, and senior living communities, today announced the appointment of Nick Jones as Chief Information Officer and Chief Operating Officer.

"Nick brings deep experience providing managed services critical to the guest experience across a broad portfolio of hotel properties, combining entertainment, connectivity, infrastructure and management into a comprehensive platform solution," said Dan McDonough, Executive Chairman. "His work integrating advanced technology services to create property-wide, scalable, future ready environments is a perfect corollary to Elauwit's model."

Jones was previously Executive Vice President and Chief Operating Officer at World Cinema, Inc., a leading managed technology, digital infrastructure and in-room entertainment provider for the hospitality, multifamily, and healthcare industries, serving more than 8,000 properties and more than 1 million rooms across more than 200 brands. He was previously Chief Executive Officer of NJT, Inc, an outsourced managed services provider, and a Network Engineer at Schlumberger, First Edge Sornson and Castle Dental.

Jones will replace Rick Alder, who served as Chief Operations Officer through Elauwit's initial public offering phase. Alder played an instrumental role in advancing the Company's strategic objectives and strengthening operations, helping Elauwit to achieve significant milestones, enhance operational performance, and position itself for continued growth and success.

"It has been an incredible privilege to serve alongside such talented and dedicated team members," said Alder. "I am deeply grateful for the trust, support, and partnerships I have experienced throughout my time with Elauwit. Together, we have accomplished remarkable things, and I believe that the organization is well-positioned for a bright and successful future."

"I personally asked Rick to help guide Elauwit during a critical time in our lifecycle, and he accomplished that task with excellence," said McDonough. "He has been a valued member of our leadership team and a good friend who departs having made a lasting and profound impact on our organization. We want to thank Rick for his tireless commitment and leadership and wish him unprecedented success in his future endeavors."

Under Alder's tenure, Elauwit reported significant progress across multiple performance metrics including:

• Expanded to 176 sites and nearly 40,000 units in 15 months while Elauwit was going public.

• Improved company overall Google customer satisfaction significantly to 4.4 stars - an excellent data point in the world of cable companies and ISPs.

• Improved customer support "one-touch" call resolution from 70% to an astounding 87%.

• Produced a comprehensive product catalog including introduction of new retail business products at multi-purpose properties.

About Elauwit Connection (NASDAQ: ELWT)

Elauwit is a publicly traded connectivity MSP dedicated to rental communities, including multifamily properties, student housing, and senior living. Elauwit designs, builds, and operates managed networks, backed by a service model that treats property teams and residents like a relationship, not an account number.

With dependable connections, exceptional resident support, and no-upfront-cost options, Elauwit helps owners deliver premium connectivity as a competitive advantage, supporting new revenue, resident retention and increased asset value.

Visit: www.elauwit.com

Forward-Looking Statements

This press release contains forward-looking statements, including with respect to the Company's growth strategies and its performance as a public company. The words "believe," "continue," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions and the Company's ability to achieve its growth objectives, and other factors set forth in the Company's filings with the SEC, including the Company's annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and subsequent quarterly reports on Form 10-Q. Actual results might differ materially from those explicit or implicit in the forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.

Media Contact: Katie Hayward Vice President of Marketing sales-pr@elauwit.com

Investor Relations: Matt Kreps Darrow Associates mkreps@darrowir.com +1-214-597-8200

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301804

FAQ

What did Elauwit Connection (NASDAQ: ELWT) announce on June 17, 2026?

Elauwit announced the appointment of Nick Jones as Chief Information Officer and Chief Operating Officer. According to Elauwit, Jones succeeds Chief Operations Officer Rick Alder, who helped guide the company through its initial public offering phase and key operational milestones.

Who is Nick Jones, the new CIO and COO of Elauwit Connection (ELWT)?

Nick Jones is Elauwit’s new Chief Information Officer and Chief Operating Officer. According to Elauwit, he previously served as Executive Vice President and Chief Operating Officer at World Cinema and earlier held leadership and engineering roles at NJT, Schlumberger, First Edge Sornson and Castle Dental.

What operational progress did Elauwit Connection (ELWT) report under Rick Alder’s leadership?

Elauwit reported strong operational progress under Rick Alder. According to Elauwit, the company expanded to 176 sites and nearly 40,000 units in 15 months, improved Google customer satisfaction to 4.4 stars, and increased one-touch call resolution from 70% to 87%.

How did Elauwit Connection (ELWT) improve customer satisfaction and support metrics?

Elauwit reported material gains in customer experience metrics. According to Elauwit, overall Google customer satisfaction rose to 4.4 stars, and customer support one-touch call resolution improved from 70% to 87%, reflecting enhancements in service quality and issue resolution.

What new products did Elauwit Connection (ELWT) introduce during its recent growth phase?

Elauwit broadened its product offerings during its recent growth phase. According to Elauwit, the company produced a comprehensive product catalog, including the introduction of new retail business products targeted at multi-purpose properties across its managed broadband and WiFi service portfolio.

How does the leadership transition at Elauwit Connection (ELWT) affect its growth plans?

Elauwit links the leadership change to its next growth phase. According to Elauwit, Rick Alder helped achieve significant milestones during the IPO phase, while new CIO and COO Nick Jones brings managed services and technology integration experience that aligns with the company’s property-wide connectivity model.