Key Highlights

  • Fiscal 2026 revenue guidance was narrowed to $4.2–$4.6 million.
  • Fiscal third-quarter revenue was $1.2 million, mostly from R&D contracts.
  • Cash stood at $37.8 million, down from $38.6 million in December.
  • Aeluma reported six new development contracts worth about $5 million.

Aeluma, Inc. (NASDAQ:ALMU), a developer of semiconductor sensors and photonics, is a development-stage-style story where contract wins, partnerships and cash matter more than profits. Its most recent report covers fiscal third quarter 2026 (ended March 31, 2026), in which the company narrowed revenue guidance but cited new contracts and a NASA award. A newer fiscal year-end report may be due.

Latest Company Context

Fiscal Q3 2026 revenue was $1.2 million, mostly from R&D contracts, compared with $1.3 million a year earlier. Net loss was $1.8 million ($0.10 per share), versus net income of $1.5 million a year earlier that was helped by a one-time $2.3 million gain on derivative liabilities. Adjusted EBITDA loss was $911 thousand. Cash was $37.8 million, down from $38.6 million at December 31, 2025. Fiscal 2026 revenue guidance was narrowed to $4.2 million to $4.6 million from $4.0 million to $6.0 million, which the company attributed to contract start delays tied to government shutdowns and other factors.

Key Business Drivers

The company reported six new development contracts worth about $5 million, including more than $4 million from U.S. government agencies, meeting its goal of three to seven wins. It also cited a NASA award for integrated quantum dot lasers and partnerships with Tower Semiconductor and Sumitomo Chemical Advanced Technology for wafer production and fabrication. New executive hires cover materials operations and strategic partnerships. These could help move from R&D contracts toward commercial volume, though that transition is not assured. Cash burn appears modest relative to the cash balance, which may give flexibility, but timing of government contracts remains a risk.

What Investors Should Watch

Investors may watch the fiscal 2026 year-end results (fiscal year ends June 30, so a report may come in the autumn), including final revenue versus the $4.2 million to $4.6 million range, fiscal 2027 guidance, conversion of development contracts to production, progress with Tower and Sumitomo, and any capital raising. Government budget timing and contract starts may influence results.

A Cash Cushion and New Contracts Against a Trimmed Revenue Range

Aeluma has cash and a growing set of contracts and partners, but revenue is small and guidance was trimmed. Conversion of R&D contracts into commercial production is the step that would change the picture.