Aeluma Announces Fourth Quarter and Full Fiscal Year 2025 Financial Results

Rhea-AI Summary

Aeluma (NASDAQ: ALMU), a semiconductor company, reported its Q4 and FY2025 financial results. Q4 revenue reached $1.3 million, up from $279,000 in Q4 2024, while full-year revenue hit $4.7 million, significantly higher than $919,000 in FY2024.

The company secured six R&D contracts in FY2025, including partnerships with NASA, U.S. Navy, and the Department of Energy. Notable contracts focus on quantum computing, submarine systems, and photodetector technologies. Aeluma closed FY2025 with $15.7 million in cash and no debt.

For FY2026, Aeluma projects revenue between $4.0-$6.0 million and plans to secure 3-7 new development contracts while expanding its team and manufacturing capabilities.

Positive

• Revenue grew significantly to $4.7M in FY2025 from $919K in FY2024
• Secured six strategic R&D contracts with major institutions including NASA and U.S. Navy
• Strong cash position of $15.7M with zero debt
• Adjusted EBITDA improved to $186K profit from $3.5M loss year-over-year
• Added to Russell 3000 and MSCI Global Micro Cap indices

Negative

• GAAP net loss of $3.0M in FY2025
• Q4 2025 showed GAAP net loss of $859K
• FY2026 revenue guidance suggests potential flat or minimal growth from FY2025

Insights

Semiconductor Industry Analyst

Aeluma shows impressive revenue growth and strong contract momentum despite continued losses, positioning well in strategic semiconductor markets.

Aeluma's Q4 and FY2025 results reveal a company gaining significant commercial traction. Revenue for Q4 reached $1.3 million, up dramatically from $279,000 in the same period last year, while full-year revenue jumped to $4.7 million from $919,000 - a 411% year-over-year increase. This growth stems primarily from R&D contracts, with six secured during FY2025 including two in Q4.

Despite this progress, the company continues to operate at a loss with a Q4 GAAP net loss of $859,000 ($0.05 per share) and full-year loss of $3 million ($0.23 per share). However, these losses have narrowed considerably from the prior year's $4.6 million loss. More encouragingly, the company achieved positive adjusted EBITDA of $186,000 for the full year, a significant improvement from the $3.5 million loss in FY2024.

Aeluma's cash position has strengthened dramatically, closing FY2025 with $15.7 million in cash and no debt, compared to just $1.3 million a year earlier. This provides substantial runway for the company's expansion plans.

The contract wins across multiple sectors (NASA, U.S. Navy, Department of Energy) demonstrate Aeluma's technological versatility across quantum computing, defense, AI infrastructure, and consumer electronics applications. The manufacturing breakthrough with Thorlabs particularly stands out as a potential catalyst for future growth.

For FY2026, Aeluma projects revenue between $4.0-$6.0 million, indicating continued but potentially more modest growth. The company's strategic focus on securing additional development contracts (3-7 targeted), expanding its team, enhancing manufacturing capabilities, and accelerating go-to-market activities suggests a thoughtful approach to scaling operations.

The recent additions to the Russell 3000 and MSCI Global Micro Cap indices should improve visibility among institutional investors, while the appointment of experienced CFO Christopher Stewart strengthens the leadership team as Aeluma transitions toward commercialization.

Momentum Building with New Contracts, Record Revenue, and Growing Interest Across Multiple Markets

GOLETA, Calif., Sept. 09, 2025 (GLOBE NEWSWIRE) -- Aeluma, Inc. (NASDAQ: ALMU) (“Aeluma” or the “Company”), a transformative semiconductor company specializing in high-performance and scalable technologies, today reported financial results for its fourth quarter and full fiscal year ended June 30, 2025.

Management Commentary

“Throughout fiscal year 2025, we continued to build momentum with increased manufacturing readiness, commercialization traction, and elevated market visibility following our Nasdaq uplist,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “Our transformative semiconductor technology uniquely positions us to address critical needs in several fast-growing market verticals, including AI infrastructure, defense and aerospace, mobile and consumer electronics, and quantum computing. Our compelling customer value proposition is supported by a robust IP portfolio, domestic semiconductor capability, strategic R&D contracts, and a scalable, capital-light manufacturing model. With a strong balance sheet and positive trends in our target verticals, we believe that fiscal 2026 will be a year of significant progress executing our go-to-market strategy and creating long-term value for shareholders.”

Recent Company Highlights

• New Contracts: Secured six R&D contracts in fiscal year 2025 including two in the fourth quarter.
• Recently Announced Wins:
  • NASA: Integration of nonlinear optical materials in silicon photonics for entangled photon sources in quantum computing and communication systems.
  • U.S. Navy: Two contracts: one for low size, weight, and power imaging sensors for next-generation submarine systems; another for high-speed photodetectors for optical interconnects applicable to aerospace platforms, high-performance computing, and AI infrastructure.
  • Department of Energy: Low-cost photodetector sensors applicable to mobile and consumer electronics, AR/VR, industrial, and robotics.
• Manufacturing Breakthrough: Unveiled a manufacturing breakthrough, in collaboration with Thorlabs, applicable to quantum computing and communication systems.
• Strong Financial Position: Closed FY2025 with $15.7 million in cash and no debt.
• Inclusion in Two New Indices: Added to the broad-market Russell 3000^® Index, effective June 30, 2025, and to the MSCI Global Micro Cap/articles/market-capitalization-explained" title="Read: What Is Market Capitalization and How It Is Calculated" class="article-link" rel="noopener">Micro Cap Index, effective August 26, 2025.
• CFO Appointment: Appointed industry veteran Christopher Stewart as CFO effective August 4, 2025. Mr. Stewart brings more than 20 years of financial leadership experience at high-growth technology companies.
  
  

Fiscal Q4 2025 Financial Results

• Revenue was $1.3 million compared to $279 thousand in the fourth quarter of 2024, and $1.3 million in the third quarter of 2025. Revenue in the quarter was primarily from R&D contracts.
• GAAP net loss was $859 thousand, or ($0.05) per basic and diluted share, compared to a net loss of $988 thousand, or ($0.08) per basic and diluted share, for the same period last year and net income of $1.5 million, or $0.12 and $0.11, respectively, per basic and diluted share, in the prior quarter.
• GAAP net income decreased from the prior quarter primarily due to a $2.6 million non-cash gain in fair value of derivative liabilities recorded in the quarter ended March 31, 2025.
• Adjusted EBITDA loss was $113 thousand, compared to a loss of $718 thousand in the same period last year, and a gain of $109 thousand in the prior quarter.
  
  

Full Year 2025 Financial Results

• Full year revenue was $4.7 million, compared to $919 thousand in the prior year. 2025 revenue was primarily from R&D contracts.
• GAAP net loss was $3.0 million, or ($0.23) per basic and diluted share, compared to a net loss of $4.6 million, or ($0.37) per basic and diluted share, for the prior year.
• Adjusted EBITDA was $186 thousand, compared to a loss of $3.5 million in the prior year.
• GAAP and non-GAAP net loss, and adjusted EBITDA all improved year over year primarily due to increased revenue from R&D contracts.
• Cash and cash equivalents totaled $15.7 million at June 30, 2025, compared to $1.3 million as of June 30, 2024.
  
  

Fiscal Year 2026 Guidance and Strategic Priorities

For the full fiscal year of 2026, Aeluma currently expects revenue in a range of $4.0 million to $6.0 million. The Company’s strategic priorities for 2026 include:

• New Contract Wins: Three to seven new development contracts, which will provide non-dilutive funding for R&D investments and the growth of partnership opportunities.
• Team Expansion: Addition of a business development and go-to-market team, expanded technical leadership and staff, as well as an expansion of our operations team.
• Enhanced Manufacturing Readiness: Higher levels of outsourced wafer manufacturing productivity, expanded test and validation capabilities, technology qualification for targeted industries, and expanded supply chain partnerships.
• Go-to-Market Traction: Continued progress on opportunities in targeted commercial markets and increasing the number of customer engagements in the pipeline.
  
  

Conference Call and Webcast

Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on September 9, 2025, to discuss the Company’s financial results and business outlook. Interested participants may access the conference the call by dialing (877) 317-6789 (domestic) or (412) 317-6789 (international) and referencing “Aeluma.”

A live webcast of the call will be available on the “Investors” section of Aeluma’s website and can also be accessed by clicking here. A replay of the conference call will be available on Aeluma’s website shortly after the call concludes.

Note about Non-GAAP Financial Measures 

This press release includes and makes reference to certain non-GAAP financial measures. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Aeluma believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. Aeluma believes that these non-GAAP financial measures provide additional insight into Aeluma's ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Aeluma's results of operations in conjunction with the corresponding GAAP measures. The non-GAAP results exclude the effect of stock-based compensation, depreciation and amortization.

This press release includes non-GAAP financial measures, including:

• Non-GAAP net income (loss), which is defined as GAAP net income (loss) plus stock-based compensation expenses, amortization of discount on convertible notes, and changes in fair value of derivative liabilities; and
• Adjusted EBITDA, defined as non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income.

A reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this press release.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company's expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

About Aeluma, Inc.

Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com.

Company:

Aeluma, Inc.
(805) 351-2707
info@aeluma.com

Investor Contact:

Financial Profiles, Inc.
Tony Rossi
(310) 622-8221
Jeff Haas
(310) 622-8240
ir@aeluma.com

Aeluma, Inc. and Subsidiary
Consolidated Balance Sheets
($ in thousands)	June 30, 2025				March 31, 2025 (unaudited)				June 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	3,628			$	3,866			$	1,291
Certificate of deposit		12,112				12,000				-
Accounts receivable		962				1,143				60
Deferred compensation		-				3				20
Prepaids and other current assets		633				214				22
Total current assets		17,335				17,226				1,393
Property and equipment:
Equipment		1,692				1,617				1,531
Leasehold improvements		547				547				547
Accumulated depreciation		(1,021	)			(914	)			(609	)
Property and equipment, net		1,218				1,250				1,469
Intangible assets		4				5				7
Right of use asset - operating		836				868				962
Other assets		13				13				13
Total assets	$	19,406			$	19,362			$	3,844
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	361			$	173			$	317
Accrued expenses and other current liabilities		206				217				181
Lease liability - operating, current portion		138				136				129
Total current liabilities		705				526				627
Lease liability - operating, long-term portion		803				839				941
Total liabilities		1,508				1,365				1,568
Commitments and contingencies		-				-				-
Stockholders’ equity:
Preferred stock		-				-				-
Common stock		2				2				1
Additional paid-in capital		34,542				33,783				15,899
Accumulated deficit		(16,646	)			(15,788	)			(13,624	)
Total stockholders’ equity		17,898				17,997				2,276
Total liabilities and stockholders’ equity	$	19,406			$	19,362			$	3,844

Aeluma, Inc. and Subsidiary
Consolidated Statements of Operations
	Three Months Ended (unaudited)												Twelve Months Ended
($ in thousands, except per share data)	June 30, 2025				March 31, 2025(1)				June 30, 2024				June 30, 2025(1)				June 30, 2024
Revenue	$	1,317			$	1,255			$	279			$	4,665			$	919
Operating expenses:
Cost of goods sold		779				311				234				1,884				619
Research and development		165				471				400				1,295				2,507
General and administrative		1,342				1,305				634				3,628				2,356
Total operating expenses		2,286				2,087				1,268				6,807				5,482
Loss from operations		(969	)			(832	)			(989	)			(2,142	)			(4,563	)
Other income (expense):
Interest income		110				3				1				113				1
Amortization of discount on convertible notes		-				(287	)			-				(715	)			-
Changes in fair value of derivative liabilities		-				2,577				-				(278	)			-
Total other income (expense), net		110				2,293				1				(880	)			1
Income (loss) before income tax expense		(859	)			1,461				(988	)			(3,022	)			(4,562	)
Income tax expense		-				-				-				-				-
Net income (loss)	$	(859	)		$	1,461			$	(988	)		$	(3,022	)		$	(4,562	)
Net income (loss) per share:
Basic	$	(0.05	)		$	0.12			$	(0.08	)		$	(0.23	)		$	(0.37	)
Diluted	$	(0.05	)		$	0.11			$	(0.08	)		$	(0.23	)		$	(0.37	)
Weighted average common shares outstanding:
Basic		15,824,222				12,472,061				12,178,424				13,168,345				12,298,355
Diluted		15,824,222				13,206,919				12,178,424				13,168,345				12,298,355
Book value per share	$	1.13			$	1.44			$	0.19			$	1.13			$	0.19

⁽¹⁾ Certain prior period amounts within the operating expense section have been reclassified to conform to the current period presentation.

Aeluma, Inc. and Subsidiary
Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)
	Three Months Ended												Twelve Months Ended
($ in thousands, except per share data)	June 30, 2025				March 31, 2025				June 30, 2024				June 30, 2025				June 30, 2024
GAAP net income (loss)	$	(859	)		$	1,461			$	(988	)		$	(3,022	)		$	(4,562	)
Non-GAAP adjustments:
Stock-based compensation - stock option		744				833				164				1,893				732
Consulting and advisory - restricted stock award		3				3				7				20				33
Amortization of discount on convertible notes		-				287				-				715				-
Changes in fair value of derivative liabilities		-				(2,577	)			-				278				-
Total adjustments to GAAP net income (loss)		747				(1,454	)			171				2,906				765
Non-GAAP net income (loss)	$	(112	)		$	7			$	(817	)		$	(116	)		$	(3,797	)
Depreciation & amortization		109				105				100				415				311
Interest income		(110	)			(3	)			(1	)			(113	)			(1	)
Adjusted EBITDA	$	(113	)		$	109			$	(718	)		$	186			$	(3,487	)
GAAP net income (loss) per share - basic	$	(0.05	)		$	0.12			$	(0.08	)		$	(0.23	)		$	(0.37	)
Non-GAAP adjustments		0.04				(0.12	)			0.01				0.22				0.06
Non-GAAP net income (loss) per share - basic	$	(0.01	)		$	-			$	(0.07	)		$	(0.01	)		$	(0.31	)
GAAP net income (loss) per share - diluted	$	(0.05	)		$	0.11			$	(0.08	)		$	(0.23	)		$	(0.37	)
Non-GAAP adjustments		0.04				(0.11	)			0.01				0.22				0.06
Non-GAAP net income (loss) per share - diluted	$	(0.01	)		$	-			$	(0.07	)		$	(0.01	)		$	(0.31	)

Aeluma, Inc. and Subsidiary
Consolidated Statements of Cash Flows
	Twelve Months Ended June 30,
($ in thousands)		2025				2024
Operating activities:
Net loss	$	(3,022	)		$	(4,562	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of deferred compensation		20				33
Stock-based compensation expense		1,893				732
Depreciation and amortization expense		415				311
Amortization of discount on convertible notes		715				-
Changes in fair value of derivative liabilities		278				-
Changes in operating assets and liabilities:
Accounts receivable		(902	)			129
Prepaids and other current assets		(611	)			(2	)
Accounts payable		44				(144	)
Accrued expenses and other current liabilities		22				48
Net cash used in operating activities		(1,148	)			(3,455	)
Investing activities:
Purchase of equipment		(161	)			(322	)
Net cash used in investing activities		(161	)			(322	)
Financing activities:
Repurchase of common stock		-				(4	)
Proceed from stock option exercise		25				-
Proceeds from convertible notes issuance		3,145				-
Proceeds from Public Offering, net of costs		12,588				-
Net cash provided by (used in) financing activities		15,758				(4	)
Net change in cash and cash equivalents, and certificate of deposit		14,449				(3,781	)
Cash and cash equivalents, and certificate of deposit, beginning of period		1,291				5,072
Cash and cash equivalents, and certificate of deposit, end of period	$	15,740			$	1,291

FAQ

What were Aeluma's (ALMU) Q4 2025 financial results?

Aeluma reported Q4 2025 revenue of $1.3 million and a GAAP net loss of $859,000 ($0.05 per share), compared to revenue of $279,000 and a net loss of $988,000 in Q4 2024.

How much revenue did Aeluma generate in fiscal year 2025?

Aeluma generated $4.7 million in revenue for FY2025, significantly higher than the $919,000 reported in FY2024, primarily from R&D contracts.

What is Aeluma's revenue guidance for fiscal year 2026?

Aeluma expects FY2026 revenue to be in the range of $4.0 million to $6.0 million.

How many R&D contracts did Aeluma secure in fiscal year 2025?

Aeluma secured six R&D contracts in FY2025, including partnerships with NASA, U.S. Navy, and the Department of Energy.

What is Aeluma's current cash position?

As of June 30, 2025, Aeluma had $15.7 million in cash and cash equivalents with no debt, compared to $1.3 million as of June 30, 2024.