Aeluma (ALMU) Q4 2025 earnings summary

Executive summary

• Achieved record revenue in FY2025, driven by new R&D contracts, manufacturing breakthroughs, and strong momentum in technology, IP, and customer traction.

• Expanded market presence with inclusion in Russell 3000 and MSCI Global Micro Cap indices, increasing visibility and liquidity.

• Strengthened leadership with appointment of a new CFO.

• Secured 20 active engagements with prospective customers and expanded business development efforts.

• Focused on transitioning from R&D revenue to commercial product revenue, targeting defense, AI infrastructure, and consumer electronics markets.

Financial highlights

• Q4 2025 revenue was $1.3M, up from $279K in Q4 2024 and flat sequentially; full-year revenue reached $4.7M, up from $919K in FY2024 and exceeding guidance.

• Q4 GAAP net loss was $859K ($0.05/share), improved from $988K loss last year; full-year GAAP net loss was $3.0M, improved from $4.6M in FY2024.

• Adjusted EBITDA for Q4 was a loss of $113K, improved from a $718K loss last year; full-year adjusted EBITDA was $186K, up from a $3.5M loss.

• Ended Q4 with $15.7M in cash and no debt, compared to $1.3M last year.

• Book value per share at June 30, 2025: $1.13, up from $0.19 at June 30, 2024.

Outlook and guidance

• FY2026 revenue expected in the $4M–$6M range, primarily from government and commercial R&D contracts.

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

• Revenue recognition tied to program milestones, leading to potential quarter-to-quarter variability.

• Plans to double headcount and gradually increase expenses to support growth and commercialization.