Aeluma (ALMU) Q4 2026 Financial Results Summary
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Aeluma, Inc. (ALMU) Q4 2026: Revenue Decline and Increased Losses — Disappointing Quarter
Aeluma, Inc. (NASDAQ: ALMU) reported its fourth quarter and full fiscal year 2026 financial results, revealing a significant decline in revenue and an increase in net losses compared to the previous year. Specifically, revenue for Q4 2026 was $0.6 million, down $0.7 million or -54% from $1.3 million in Q4 2025. This decline reflects ongoing challenges in transitioning from early-stage R&D contracts to a more commercial focus.
Key Financial Metrics
- Q4 2026 Revenue: $0.6 million, down from $1.3 million in Q4 2025 (-54% YoY)
- Q4 2026 Net Loss: $4.0 million, compared to a net loss of $0.9 million in Q4 2025
- Q4 2026 EPS: ($0.22) per share, compared to ($0.05) per share in Q4 2025
- Full Year 2026 Revenue: $4.5 million, down from $4.7 million in 2025 (-4% YoY)
- Full Year 2026 Net Loss: $9.2 million, compared to a net loss of $3.0 million in 2025
- Full Year 2026 Adjusted EBITDA Loss: $5.2 million, compared to a gain of $0.2 million in 2025
Analyst Opinion
This quarter is disappointing for shareholders, primarily due to the substantial drop in revenue and the widening net losses. The company’s transition from R&D contracts to commercialization has not yet yielded the expected financial results, raising concerns about its operational execution and market demand for its products. The increase in net loss from $0.9 million to $4.0 million in Q4 2026 indicates that the company is still heavily investing in growth without immediate returns.
Additional Highlights
- Cash Position: Aeluma ended Q4 2026 with cash and cash equivalents of $56.0 million, up from $37.8 million in the prior quarter, bolstered by a $20.1 million capital raise through the issuance of shares.
- Strategic Partnerships: The company signed a letter of intent for up to $30 million with the Department of Commerce CHIPS R&D Office, aimed at developing photonics for AI and advanced computing.
- New Contracts: Aeluma executed six new contracts totaling $5.3 million, including awards from NASA and the U.S. Navy, which are expected to accelerate the development of its technologies.
Forward-Looking Catalysts
Investors should closely monitor Aeluma's progress in fiscal 2027, particularly its ability to convert strategic partnerships and contracts into revenue. The company is focusing on technology and product development, as well as expanding customer engagements in the AI datacom sector. Additionally, the potential funding from the CHIPS program could significantly impact Aeluma's commercialization timeline and operational capabilities.
In summary, while Aeluma has made strides in securing partnerships and enhancing its cash position, the financial results for Q4 2026 reflect a challenging transition period. Investors will be looking for signs of improvement in revenue generation and cost management in the upcoming quarters.
Note: The following tables are in thousands.
| June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | |
|---|---|---|---|---|---|
| Revenue | 582 | 1,345 | 1,294 | 4,448 | 4,683 |
| Cost of Revenue | 433 | 836 | 779 | 2,860 | 1,982 |
| Gross Margin | 149 | 509 | 515 | 1,588 | 2,701 |
| Total Operating Expenses | (4,060) | (2,908) | (9,129) | (10,285) | (3,659) |
| Loss From Operations | (3,911) | (2,399) | (8,614) | (8,697) | (1,078) |
| Other Income (Expense) | 359 | 325 | 110 | 1,077 | 113 |
| Net Loss | (4,060) | (2,074) | (8,504) | (9,070) | (3,546) |
| Loss per Share, Basic | (0.22) | (0.11) | (0.45) | (0.48) | (0.19) |
| Weighted-Average Shares used to compute net income (loss) per share, basic | 18,356 | 18,434 | 15,850 | 17,900 | 13,824 |
| Assets | June 30, 2026 | June 30, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | 56,006 | 3,628 |
| Certificate of deposit | - | 12,112 |
| Accounts receivable | 340 | 962 |
| Prepaids and other current assets | 965 | 633 |
| Total current assets | 57,311 | 17,335 |
| Property and equipment: | ||
| Equipment | 2,338 | 1,692 |
| Leasehold improvements | 547 | 547 |
| Accumulated depreciation | (1,469) | (1,021) |
| Property and equipment, net | 1,416 | 1,218 |
| Right of use asset - operating | 1,916 | 836 |
| Other assets | 21 | 17 |
| Total assets | 60,664 | 19,406 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | 341 | 361 |
| Accrued expenses and other current liabilities | 1,369 | 206 |
| Lease liability - operating, current portion | 180 | 138 |
| Total current liabilities | 1,890 | 705 |
| Lease liability - operating, long-term portion | 1,842 | 803 |
| Total liabilities | 3,732 | 1,508 |
| Stockholders’ equity: | ||
| Preferred stock | - | - |
| Common stock | 2 | 2 |
| Additional paid-in capital | 82,735 | 34,542 |
| Accumulated deficit | (25,805) | (16,646) |
| Total stockholders’ equity | 56,932 | 17,898 |
| Total liabilities and stockholders’ equity | 60,664 | 19,406 |
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