Aeluma Revenue Jumps 367% in Fiscal Q4

Key Points

• Revenue jumped 366.7% year over year to $1.3 million in Q4 FY2025, driven mostly by research and development (R&D) contracts.

• Adjusted EBITDA loss narrowed to $(0.11) million from $(0.72) million in the prior-year quarter,

• Year-end cash and cash equivalents surged to $15.7 million for FY2025, up from $1.3 million for FY2024, following a successful NASDAQ uplisting and capital raise.

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Aeluma (NASDAQ:ALMU), a developer of compound semiconductor-based photodetectors and sensors, reported its fiscal fourth quarter 2025 results on September 9, 2025. The company posted record quarterly revenue of $1.3 million in Q4 FY2025, mainly fueled by new R&D contract wins and bolstered its balance sheet after uplisting to NASDAQ and completing a public offering. Despite these positives, it remains unprofitable, with operations still relying heavily on non-recurring contract revenue rather than commercial product sales. The quarter showed improvement in loss metrics, but the company’s path to sustainable, recurring revenue streams remains a focal point for future quarters.

Company Overview and Strategic Focus

Aeluma specializes in creating high-performance photodetectors and sensor arrays by integrating compound semiconductor materials onto large silicon wafers. These sensors are designed for applications like 3D imaging, LiDAR (light detection and ranging), and telecommunications, where their ability to work at longer wavelengths is a key advantage.

Currently, Aeluma centers its business on government, commercial, and industrial R&D contract work. The company’s growth strategy relies on expanding manufacturing capability, securing strategic R&D partnerships, and moving toward commercializing its photonic product families.

Quarterly Performance and Business Developments

The latest quarter reflected major progress on the revenue front, with Aeluma’s revenue increasing 366.7% year-over-year in Q4 FY2025. This growth was primarily driven by six new R&D contracts secured during FY2025, including notable awards from NASA for quantum computing systems, the U.S. Navy for next-generation imaging sensor development, and the Department of Energy for low-cost photodetectors. These wins increased project work across diverse sectors like quantum computing, defense, and emerging consumer markets.

However, revenue remained concentrated in government and institutional contracts, rather than commercial product channel sales. The adjusted EBITDA loss narrowed sharply to $(0.11) million, a marked improvement from the previous year’s $(0.72) million loss.

Aeluma ended Q4 FY2025 in a much stronger liquidity position, reporting $15.7 million in cash and equivalents, up sharply from $1.3 million a year earlier. This increase reflects nearly $17 million raised during FY2025 through a public offering and convertible notes, helping the company eliminate debt. Book value per share also rose to $1.13 for FY2025 from $0.19 for FY2024.

The quarter also saw the completion of a NASDAQ uplist and the appointment of former NVIDIA finance leader Mike Byron to its board. The company was added to the Russell 3000 and MSCI Global Micro Cap indices, and it announced breakthroughs in the manufacturing of photodetector arrays in collaboration with Thorlabs, further boosting its potential in AI, quantum, and optical computing markets. No dividends were paid or announced in the period.

Product and Market Foundations

Aeluma’s primary technology platform centers on cost-effective photodetectors produced with compound semiconductors on silicon. By enabling production at scale using larger silicon substrates, Aeluma aims to match or surpass the performance of more expensive existing solutions, such as indium gallium arsenide (InGaAs) sensors, while lowering costs per array. Its product families target use in emerging 3D imaging (such as LiDAR in autonomous vehicles), AR/VR (augmented and virtual reality) systems, and high-performance communications equipment.

The company’s recent contracts position it at the forefront of U.S.-based semiconductor innovation, as shown by research and development agreements with the U.S. Navy, NASA, and the Department of Energy. The company also joined the National Semiconductor Technology Center, a CHIPS Act initiative supporting the U.S. semiconductor supply chain and domestic research alliances. However, specific details on volume shipments, recurring product sales, or commercial-scale launches remain limited.

Financial Outlook and Investor Considerations

Looking ahead, Aeluma’s management issued revenue guidance for FY2026 in the range of $4.0 million to $6.0 million, a midpoint that signals a modest increase over the $4.7 million achieved in FY2025. This range suggests possible variability in the timing of future contract wins and customer ramp-up, reflecting a careful posture toward guidance.

The company did not provide a profitability outlook for the upcoming period, instead emphasizing further investment in go-to-market teams, manufacturing partnerships, and growth of its business development operations. Investors should continue to monitor how quickly Aeluma can shift from R&D-focused revenue to recurring, commercial product sales.

Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.

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