Aeluma Q4 Earnings Call Highlights

Aeluma is shifting its near-term commercialization focus almost entirely to AI datacenter connectivity, developing Lynx high-speed photodetectors and Quasar quantum-dot lasers to address demand for faster optical interconnects and constraints in conventional indium phosphide supply.

Fiscal 2026 revenue was approximately flat at $4.5 million, while the GAAP net loss widened to $9.2 million from $3 million a year earlier as the company increased hiring and operating expenses.

Aeluma ended the year with $56 million in cash and no debt after raising $20.1 million through stock sales.

The company expects about $2.3 million in booked government-contract revenue in fiscal 2027 and is pursuing commercial NRE agreements, a potential CHIPS R&D award of up to $30 million, and expanded manufacturing capacity.

Planned fiscal 2027 capital expenditures are $10 million to $12 million, primarily for MOCVD reactors and production infrastructure.

Aeluma NASDAQ: ALMU said fiscal 2026 established a foundation for commercializing its photonics technology for artificial intelligence data-center interconnects, as the company expanded its workforce, strengthened manufacturing relationships and raised capital to support development.

Founder and Chief Executive Officer Dr. Jonathan Klamkin said Aeluma is prioritizing high-speed photodetectors and quantum-dot lasers for AI datacom applications, citing growing demand for high-performance photonics and supply constraints associated with conventional indium phosphide substrates.

The company reported fourth-quarter revenue of $582,000 and full-year revenue of $4.5 million, primarily from government contracts.

Full-year revenue was near the high end of the range Aeluma had provided during its third-quarter call, though it was approximately flat compared with $4.7 million in fiscal 2025.

Aeluma recorded a GAAP net loss of $4 million, or $0.22 per share, in the fourth quarter.

For fiscal 2026, its GAAP net loss was $9.2 million, or $0.52 per share, compared with a $3 million loss, or $0.23 per share, in fiscal 2025.

Excluding stock-based compensation, adjusted net loss was $2.7 million, or $0.15 per share, for the fourth quarter and $4.6 million, or $0.26 per share, for the year.

Adjusted EBITDA was negative $2.9 million for the quarter and negative $5.2 million for the year, compared with positive adjusted EBITDA of $186,000 in fiscal 2025.

Chief Financial Officer Christopher Stewart attributed the larger loss and lower adjusted EBITDA primarily to increased headcount and other operating expenses.

He said fourth-quarter operating expenses also reflected full-quarter salaries for employees hired during the year and normal year-end accruals.

The company ended the quarter with $56 million in cash and cash equivalents and no debt, compared with $37.8 million at the end of the March quarter and $15.7 million at June 30, 2025.

During the fourth quarter, Aeluma issued 830,484 shares through its at-the-market facility at an average price of $24.87 per share, generating net proceeds of $20.1 million.

Klamkin said the company’s near-term commercialization strategy is centered “almost entirely” on AI datacom, although Aeluma remains active in other markets, including mobile.

He said advances made for one market can benefit other applications because of the company’s technology platform.

Aeluma’s Lynx photodetector family is being developed for both scale-up and scale-out AI interconne...