Aeluma, Inc. reported a decrease in revenue for the fiscal year ending June 30, 2026, with total revenue of $4.5 million, down from $4.7 million in the previous year. The decline was primarily attributed to a reduction in government contract revenue, which accounted for $4.3 million of total revenue, compared to $4.4 million in the prior year. Operating expenses surged by 115% to $14.6 million, driven by increased material purchases and higher compensation costs associated with expanding the workforce. The company recorded a net loss of $9.2 million, a significant increase from the $3.0 million loss reported in the previous fiscal year.
In terms of strategic developments, Aeluma entered into six new government contracts during the fiscal year, including agreements with NASA and the U.S. Department of Defense. The company also signed a letter of intent for up to $30 million in funding under the CHIPS Act, which is intended to support the development of its semiconductor manufacturing platform. This funding is contingent upon further approvals and negotiations with the U.S. Department of Commerce.
Operationally, Aeluma's workforce increased to 27 employees as of June 30, 2026, with all employees based in the United States. The company has focused on enhancing its research and development capabilities, including the acquisition of new equipment to support its manufacturing processes. Aeluma's cash and cash equivalents rose to $56.0 million, up from $15.7 million the previous year, largely due to net proceeds from public offerings. The company has also established an at-the-market offering program with a remaining capacity of $29.3 million.
Looking ahead, Aeluma aims to transition from a research and development-focused entity to a commercialized business model. The company plans to continue investing in engineering, materials growth, and manufacturing readiness while working to convert customer engagements into recurring product revenue. However, the timing and scale of commercialization will depend on various factors, including technical performance, customer qualification, and market demand. Aeluma's management remains optimistic about its growth prospects, although it acknowledges the inherent risks associated with its development stage and reliance on government contracts.
About Aeluma, Inc.
Aeluma, Inc. develops high-performance compound semiconductor photodetectors and photodetector arrays using proprietary heterogeneous integration on large-diameter substrates. Its technology enables cost-effective manufacturing for imaging, sensing, communication, and computing applications across markets including mobile, automotive, AI, defense, aerospace, AR/VR, and quantum computing. Operating from California, Aeluma combines in-house R&D with partnerships for scalable production, leveraging extensive intellectual property to offer advanced, lower-cost semiconductor solutions for mass-market adoption.
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