Aeluma (ALMU) Q2 2026 earnings summary

Executive summary

• Achieved key commercialization milestones with initial sales orders and increased customer engagement in data center, mobile, and defense markets.

• Expanded leadership team, including a new SVP of Business Development and Product, and a new CFO, to accelerate go-to-market and business development.

• Recognition includes the 2025 LEAP Award for advanced materials innovation and an expanded patent portfolio to 35 issued and pending patents.

• Two public offerings in 2025 raised a combined $36 million, significantly strengthening liquidity and supporting expansion.

• Expanded facilities, headcount, and installed automated wafer probers to support growth and operational readiness.

Financial highlights

• Q2 FY26 revenue was $1.3 million, down from $1.6 million year-over-year and $1.4 million sequentially; six-month revenue was $2.7 million, up 27% year-over-year, primarily from government R&D contracts.

• GAAP net loss was $1.9 million ($0.11/share) for Q2 FY26, improved from $2.9 million ($0.24/share) year-over-year; six-month net loss narrowed to $3.3 million.

• Adjusted EBITDA loss was $917,000 for Q2 FY26, compared to a gain of $647,000 year-over-year and a loss of $450,000 sequentially.

• Cash and cash equivalents totaled $38.6 million at quarter end, up from $15.7 million at June 30, 2025, with no long-term debt.

• Operating expenses rose 161% to $6.3 million for the six months ended December 31, 2025, driven by higher material costs and increased compensation.

Outlook and guidance

• Fiscal 2026 revenue guidance remains $4–6 million, with execution progressing as planned and initial product sales orders received.

• Management expects current cash and projected revenues to fund operations and capital needs for at least the next twelve months.

• Strategic priorities include securing 3–7 new development contracts, expanding the team, and enhancing manufacturing readiness.