Aeluma (ALMU) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 focused on accelerating development and commercialization of high-speed photodetectors and quantum dot lasers for the AI datacom market, leveraging proprietary non-indium phosphide substrates to address supply chain constraints and enable scalable manufacturing.

• Advanced customer negotiations and executed six new contracts totaling $5.3 million, including awards from NASA and the U.S. Navy, to accelerate photodetector, laser, and quantum technology development.

• Signed a letter of intent with the Department of Commerce CHIPS R&D Office for up to $30 million to develop and commercialize photonics for AI and advanced computing.

• Expanded team from 14 to over 30, including key leadership hires to support product development and commercialization.

• Strengthened partnerships with Sumitomo Chemical Advanced Technologies and Tower Semiconductor to increase wafer production capacity and enhance supply chain capabilities.

Financial highlights

• Q4 2026 revenue was $0.6 million, down from $1.3 million in Q4 2025; full-year revenue reached $4.5 million, nearly flat compared to $4.7 million in fiscal 2025, primarily from government contracts.

• GAAP net loss for Q4 was $4.0 million ($0.22/share); full-year net loss was $9.2 million ($0.52/share), up from $3.0 million ($0.23/share) in fiscal 2025.

• Adjusted net loss for Q4 was $2.7 million ($0.15/share); full-year adjusted net loss was $4.6 million ($0.26/share), compared to $116,000 ($0.01/share) in fiscal 2025.

• Adjusted EBITDA was negative $2.9 million for Q4 and negative $5.2 million for the year, compared to positive $186,000 in fiscal 2025.

• Ended Q4 with $56.0 million in cash and cash equivalents, up from $15.7 million at June 30, 2025, and no debt.

Outlook and guidance

• Fiscal 2027 focus is on commercialization, with $2.3 million in booked government contract revenue and potential for an additional $2 million.

• Ongoing negotiations for multi-million-dollar NRE agreements in the AI datacom industry and up to $30 million in CHIPS funding, likely as an equity investment rather than revenue.

• Anticipated capital expenditures of $10–$12 million in fiscal 2027, mainly for MOCVD reactors and manufacturing scale-up.

• OpEx expected to remain stable in Q1 2027, with gradual increases as headcount and R&D investments continue.

• Emphasis on expanding customer engagements and increasing wafer production capacity.