ALMU · Aeluma, Inc.

Aeluma's Q3 fiscal 2026 results showed revenue stability at $1.2 million, primarily from R&D contracts, nearly flat sequentially and year-over-year despite industry supply constraints in indium phosphide that CEO Jonathan Klamkin highlighted as creating urgency for Aeluma's quantum dot laser platform. The GAAP net loss of $1.8 million or $0.10 per share compared unfavorably to a $1.5 million gain last year, driven by a one-time $2.3 million derivative liability fair value gain in the prior period. Adjusted EBITDA loss widened to $911 thousand from a $109 thousand gain year ago, reflecting higher salaries, stock-based compensation, and benefits for new hires supporting expansion. Cash position remained strong at $37.8 million, down slightly from $38.6 million prior quarter, bolstered by non-dilutive funding. Key highlights include securing six contracts worth $5 million, exceeding the 3-7 target, with over $4 million from U.S. government for scaling heterogeneous integration and NASA award for quantum dot lasers. Partnerships with Tower Semiconductor and Sumitomo Chemical advance manufacturing scalability, while hires like VP Materials Operations Christiane Poblenz and VP Strategic Partnerships Willy Rachmady strengthen leadership. FY2026 revenue guidance narrowed to $4.2-4.6 million due to government shutdown delays, but progress in AI datacom, mobile, defense, and quantum markets, plus IP portfolio growth to 36 issued/pending patents, positions Aeluma for commercialization amid AI data center buildout outpacing photonics supply.