Aeluma (NASDAQ: ALMU) Q2 2026 loss and cash, revenue outlook $4M–$6M

Rhea-AI Filing Summary

Aeluma, Inc. reported financial results for its second quarter of fiscal 2026, for the period ended December 31, 2025. Revenue for the quarter was $1.27 million, compared with $1.39 million in the prior quarter and $1.61 million a year earlier, while the company posted a GAAP net loss of $1.85 million (or $0.11 per share).

For the first six months of fiscal 2026, revenue totaled $2.66 million and the GAAP net loss was $3.35 million. On a non-GAAP basis, which excludes stock-based compensation, certain financing-related items, and other adjustments, Aeluma reported a second-quarter net loss of $0.80 million and adjusted EBITDA of $(0.92) million.

The company emphasized progress toward commercialization, citing increasing customer engagements and initial sales orders, and reaffirmed its full fiscal 2026 revenue outlook in the range of $4.0 million to $6.0 million. Aeluma ended the quarter with $38.57 million in cash and cash equivalents, supporting ongoing research, development, and go-to-market activities.

Insights

Semiconductor equity analyst

Aeluma shows modest revenue, rising cash, and continued investment toward commercialization.

Aeluma reported Q2 fiscal 2026 revenue of $1.27 million and a GAAP net loss of $1.85 million, reflecting ongoing spending on research, development, and corporate infrastructure. For the first half of fiscal 2026, revenue reached $2.66 million with a GAAP net loss of $3.35 million.

Non-GAAP metrics narrow the loss, with Q2 non-GAAP net loss at $0.80 million and adjusted EBITDA at $(0.92) million, mainly excluding $2.11 million of stock-based compensation over six months. Cash and cash equivalents of $38.57 million as of December 31, 2025 provide a sizeable cushion versus current liabilities of $0.83 million.

The company reaffirmed its fiscal 2026 revenue guidance of $4.0 million to $6.0 million, while noting early but relatively small sales orders. Future filings will clarify how quickly engagements in mobile, data centers, and defense convert into larger revenue streams and whether operating losses trend lower over subsequent quarters.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report

(Date of earliest event reported): February 11, 2026

Aeluma, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-42570		85-2807351
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

27 Castilian Drive Goleta, California		93117
(Address of principal executive offices)		(Zip Code)

805-351-2707

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		ALMU		The Nasdaq Stock Market LLC (Nasdaq Capital Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On February 11, 2026, Aeluma, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended December 31, 2025, which were disclosed in the Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission on February 11, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information reported under this Item 2.02 of Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Exhibit
99.1		Press Release of Aeluma, Inc. dated February 11, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AELUMA, INC.
Date: February 11, 2026	By:	/s/ Jonathan Klamkin
		Jonathan Klamkin
		President, Chief Executive Officer, and Director

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Exhibit 99.1

 

Aeluma Announces Second Quarter Fiscal 2026 Financial Results

● Awarded NASA Contract for Quantum and RFSUNY Contract for Silicon Photonics Laser

● Recently Appointed Senior Vice President of Business Development and Product to Drive Go-to-Market Plan

● Cash and Cash Equivalents as of December 31, 2025 of $38.6 Million

GOLETA, CA – February 11, 2026 – 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 second quarter of fiscal 2026 ended December 31, 2025.

Management Commentary

“The second quarter marked another big step forward for Aeluma as we gear up for commercialization,” said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. “We ramped engagements across our target markets and increased visibility at a major industry conference. We are experiencing growing and sustained interest in Aeluma as our technology takes shape and market demand increases across mobile, data centers, and defense.”

“During the quarter, we continued to increase operations with foundry partners and are delighted with the performance, quality, and yield of wafers being tested at Aeluma’s facility,” Klamkin continued. “Relationships with customers and partners are strengthening, and we are fortunate that Bouch Nessar, our new Senior Vice President of Business Development and Product, has joined at this pivotal time to accelerate our go-to-market plan. Our IP portfolio also continues to expand, now counting 35 issued and pending patents, with our most recent application related to large-scale manufacturing of high-performance semiconductors.”

Klamkin concluded, “We are receiving increasing requests for price quotations and have begun taking sales orders. While these initial orders are relatively small in value, this marks an important milestone toward broader market adoption. As we move through fiscal 2026, we are intensely focused on commercialization and building long-term value.”

Recent Company Highlights

● Growing Market Traction and Visibility: Increased engagement with customers, partners, and government agencies, reflecting rising awareness of Aeluma’s scalable semiconductor platform across mobile and consumer electronics, data centers and AI infrastructure, and defense.

● Leadership and Team Expansion: Added experienced leadership and technical talent, including Bouchaib (Bouch) Nessar as Senior Vice President of Business Development and Product to drive go-to-market strategy, alongside other key hires in supply chain manufacturing, technology enablement, and engineering.

● Expanded Engagements with Manufacturing Partners: Continuing to fabricate wafers with foundries to qualify Aeluma processes for key end markets. Strengthened relationships with manufacturing partners to accelerate transition to production.

● Bolstered Wafer-Scale Test and Validation Capabilities: Following our November asset acquisition announcement, we installed and commissioned automated wafer probers and other equipment to accelerate testing of semiconductor photonic components. This will help qualify foundry manufacturing processes for key target markets.

● Continued R&D Contracts Progress: Building on recently announced NASA contract for quantum, we received additional contract funding from RFSUNY aimed at integrating quantum dot lasers directly into the AIM Photonics 300mm silicon photonics platform. Also received several additional award notices, reinforcing customer confidence in Aeluma’s technology and supporting expectations for additional contracts this year.

● Consortium Membership Expands Defense and Commercial Footprint: Admitted to MMEC consortium during the quarter, strengthening Aeluma’s position within the defense and commercial ecosystem and enhancing access to government and defense opportunities.

● Industry Award Validation: Recipient of 2025 LEAP Award for Advanced Materials Innovation, recognizing Aeluma’s disruptive SWIR platform. Award highlights Aeluma’s competitive advantage in bridging high-performance sensing with scalable and mass-market semiconductor manufacturing.

● Visibility and Marketing at SPIE Photonics West: Presented a breakthrough paper on scalable 200mm silicon integration for quantum photonics and hosted exhibition booth with strong customer and partner engagement.

● Expanded Intellectual Property Portfolio: Increased total issued and pending patents to 35, with a recent filing focused on scalable, high-performance photonics for 3D imaging and data center applications.

 
Fiscal Q2 2026 Financial Results

● Revenue was $1.3 million compared to $1.6 million in the second quarter of 2025, and $1.4 million in the first quarter of 2025. Revenue in the quarter was primarily from R&D contracts.

● GAAP net loss was $1.9 million, or ($0.11) per basic and diluted share, compared to a net loss of $2.9 million, or ($0.24) per basic and diluted share, for the same period last year and net loss of $1.5 million, or ($0.09) per basic and diluted share, in the prior quarter. GAAP net loss increased from the prior quarter primarily due to higher salaries, stock-based compensation and employee benefits driven by new employees hires to support the expansion of the business and scaling of operations.

● Adjusted EBITDA loss was $917 thousand, compared to a gain of $647 thousand in the same period last year, and a loss of $450 thousand in the prior quarter. Adjusted EBITDA loss increased year over year and quarter over quarter primarily due to higher salaries, stock-based compensation and employee benefits driven by new employees hires.

● Cash and cash equivalents totaled $38.6 million at December 31, 2025, compared to $15.7 million at June 30, 2025.

Fiscal Year 2026 Guidance and Strategic Priorities

For the full fiscal year of 2026, based on current and anticipated market conditions, Aeluma continues to expect revenue in a range of $4.0 million to $6.0 million. The following reaffirms the Company’s strategic priorities for 2026:

● New Contract Wins: Three to seven new development contracts, which provide non-dilutive funding for R&D investments and the growth of partnership opportunities.

● Team Expansion: Growth of our business development and go-to-market team, technical leadership and staff, and operations team.

● Enhanced Manufacturing Readiness: Increased outsourced wafer manufacturing productivity. Expanded test and validation capabilities, technology qualification for targeted industries, and supply chain partnerships.

● Go-to-Market Traction: Product roadmap being driven by continued progress in target commercial markets across mobile and consumer electronics, photonics for AI infrastructure, and defense and aerospace.

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Conference Call and Webcast

Aeluma will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on February 11, 2026, 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

https://event.choruscall.com/mediaframe/webcast.html?webcastid=MTk9Bf6L. 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.

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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.

Moira Conlon & Alex Villalta

(310) 622-8227

ir@aeluma.com

4

Aeluma, Inc. and Subsidiary

Condensed Consolidated Balance Sheets

($ in thousands)		December 31, 2025 (unaudited)				June 30, 2025
Assets
Current assets:
Cash and cash equivalents		$	38,572			$	3,628
Certificate of deposit			-				12,112
Accounts receivable			1,000				962
Prepaids and other current assets			691				633
Total current assets			40,263				17,335
Property and equipment:
Equipment			1,933				1,692
Leasehold improvements			547				547
Accumulated depreciation			(1,229	)			(1,021	)
Property and equipment, net			1,251				1,218
Right of use asset - operating			1,033				836
Other assets			23				17
Total assets		$	42,570			$	19,406
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	184			$	361
Accrued expenses and other current liabilities			449				206
Lease liability - operating, current portion			192				138
Total current liabilities			825				705
Lease liability - operating, long-term portion			942				803
Total liabilities			1,767				1,508
Commitments and contingencies			-				-
Stockholders’ equity:
Preferred stock			-				-
Common stock			2				2
Additional paid-in capital			60,793				34,542
Accumulated deficit			(19,992	)			(16,646	)
Total stockholders’ equity			40,803				17,898
Total liabilities and stockholders’ equity		$	42,570			$	19,406

5

Aeluma, Inc. and Subsidiary

Condensed Consolidated Statements of Operations (unaudited)

		Three Months Ended												Six Months Ended
($ in thousands, except per share data)		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Revenue		$	1,272			$	1,385			$	1,612			$	2,657			$	2,093
Operating expenses:
Cost of goods sold			919				701				584				1,620				899
Research and development			906				606				268				1,512				669
General and administrative			1,528				1,686				371				3,214				867
Total operating expenses			3,353				2,993				1,223				6,346				2,435
Income (loss) from operations			(2,081	)			(1,608	)			389				(3,689	)			(342	)
Other income (expense):
Interest income			228				115				-				343				-
Amortization of discount on convertible notes			-				-				(283	)			-				(428	)
Changes in fair value of derivative liabilities			-				-				(3,001	)			-				(2,855	)
Total other income (expense), net			228				115				(3,284	)			343				(3,283	)
Loss before income tax expense			(1,853	)			(1,493	)			(2,895	)			(3,346	)			(3,625	)
Income tax expense			-				-				-				-				-
Net loss		$	(1,853	)		$	(1,493	)		$	(2,895	)		$	(3,346	)		$	(3,625	)
Net loss per share – basic and diluted		$	(0.11	)		$	(0.09	)		$	(0.24	)		$	(0.20	)		$	(0.30	)
Weighted average common shares outstanding – basic and diluted			17,875,930				16,141,153				12,212,403				17,008,544				12,195,415
Book value per share		$	2.28			$	2.53			$	(0.08	)		$	2.28			$	(0.08	)

Aeluma, Inc. and Subsidiary

Condensed Consolidated Statements of Cash Flows (unaudited)

		Six Months Ended December 31,
($ in thousands)		2025				2024
Operating activities:
Net loss		$	(3,346	)		$	(3,625	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of deferred compensation			-				14
Stock-based compensation expense			2,112				316
Depreciation and amortization expense			210				202
Amortization of discount on convertible notes			-				428
Changes in fair value of derivative liabilities			-				2,855
Changes in operating assets and liabilities:
Accounts receivable			(38	)			(1,265	)
Prepaids and other current assets			(58	)			(114	)
Other assets			(8	)			-
Accounts payable			(177	)			(134	)
Accrued expenses and other current liabilities			239				(9	)
Net cash used in operating activities			(1,066	)			(1,332	)
Investing activities:
Purchase of equipment			(241	)			(41	)
Net cash used in investing activities			(241	)			(41	)
Financing activities:
Proceeds from stock option exercise			64				-
Proceeds from stock warrant exercise			690				-
Proceeds from convertible notes issuance			-				3,145
Proceeds from public offering, net of offering costs			23,385				-
Net cash provided by financing activities			24,139				3,145
Net change in cash and cash equivalents, and certificate of deposit			22,832				1,772
Cash and cash equivalents, and certificate of deposit, beginning of period			15,740				1,291
Cash and cash equivalents, and certificate of deposit, end of period		$	38,572			$	3,063
Supplemental non-cash disclosures:
Right of use asset - operating obtained in exchange for lease liability - operating		$	274				-

6

Aeluma, Inc. and Subsidiary

Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)

		Three Months Ended												Six Months Ended
($ in thousands, except per share data)		December 31, 2025				September 30, 2025				December 31, 2024				December 31, 2025				December 31, 2024
GAAP net loss		$	(1,853	)		$	(1,493	)		$	(2,895	)		$	(3,346	)		$	(3,625	)
Non-GAAP adjustments:
Stock-based compensation - stock option			1,056				1,056				149				2,112				316
Consulting and advisory - restricted stock award			-				-				7				-				14
Amortization of discount on convertible notes			-				-				283				-				428
Changes in fair value of derivative liabilities			-				-				3,001				-				2,855
Total adjustments to GAAP net loss			1,056				1,056				3,440				2,112				3,613
Non-GAAP net income (loss)		$	(797	)		$	(437	)		$	545			$	(1,234	)		$	(12	)
Depreciation & amortization			108				102				102				210				202
Interest income			(228	)			(115	)			-				(343	)			-
Adjusted EBITDA		$	(917	)		$	(450	)		$	647			$	(1,367	)		$	190
GAAP net loss per share – basic and diluted		$	(0.11	)		$	(0.09	)		$	(0.24	)		$	(0.20	)		$	(0.30	)
Non-GAAP adjustments			0.07				0.06				0.28				0.13				0.30
Non-GAAP net income (loss) per share – basic and diluted		$	(0.04	)		$	(0.03	)		$	0.04			$	(0.07	)		$	-

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FAQ

How did Aeluma (ALMU) perform financially in Q2 fiscal 2026?

Aeluma reported Q2 fiscal 2026 revenue of $1.27 million and a GAAP net loss of $1.85 million, or $0.11 per share. Non-GAAP net loss was $0.80 million, highlighting ongoing investment in operations as the company prepares for broader commercialization.

What are Aeluma (ALMU)’s revenue results for the first half of fiscal 2026?

For the first six months of fiscal 2026, Aeluma generated $2.66 million in revenue. Over the same period, the company recorded a GAAP net loss of $3.35 million, reflecting continued spending on research, development, and general and administrative activities to support its growth plans.

What revenue guidance did Aeluma (ALMU) provide for full-year fiscal 2026?

Aeluma reiterated full fiscal 2026 revenue guidance in the range of $4.0 million to $6.0 million. This outlook is based on current and anticipated market conditions as the company moves toward commercialization and seeks broader adoption of its semiconductor technologies across multiple end markets.

What is Aeluma (ALMU)’s cash position as of December 31, 2025?

As of December 31, 2025, Aeluma reported $38.57 million in cash and cash equivalents. Total current assets were $40.26 million, compared with total current liabilities of $0.83 million, providing substantial liquidity to fund operations and commercialization initiatives.

How do Aeluma (ALMU)’s non-GAAP results compare with GAAP figures?

For Q2 fiscal 2026, Aeluma’s GAAP net loss was $1.85 million, while non-GAAP net loss was $0.80 million. Adjusted EBITDA for the quarter was $(0.92) million, primarily excluding stock-based compensation and certain financing-related items disclosed in the reconciliation schedule.

What trends are visible in Aeluma (ALMU)’s operating expenses?

In Q2 fiscal 2026, total operating expenses were $3.35 million, including cost of goods sold of $0.92 million, research and development of $0.91 million, and general and administrative expenses of $1.53 million. These levels underscore Aeluma’s continued investment in technology and corporate infrastructure.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 PRESS RELEASE OF AELUMA, INC. DATED FEBRUARY 11, 2026 108.7 KB
• EX-99 GRAPHIC 2.0 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB