Aeluma (ALMU) investor relations material

Executive summary

• Achieved profitability in the first half of 2025, with record high gross margin and net income of $5.2M, marking a significant turnaround from the prior year.

• Achieved record revenue in FY2025, driven by new R&D contracts and manufacturing breakthroughs.

• Transformed business model by adding Bitcoin as a core treasury asset, aiming to build one of the largest public Bitcoin treasuries globally.

• Expanded market presence with inclusion in Russell 3000® and MSCI Global Micro Cap indices.

• Strategic exit from U.S. operations to focus on profitable Asia business and Bitcoin treasury strategy.

Financial highlights

• Revenue for H1 2025 was $15.6M, a 9.4% year-over-year decline due to the U.S. exit; core China business revenue grew 7.5% year-over-year.

• 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.

• Gross profit increased 16.9% year-over-year to $5.2M, with gross margin improving to 33.4%, up 750 basis points.

• Achieved GAAP net income of $5.2M, a turnaround from negative $5.2M in the prior year; net income excluding BTC fair value gain was $1.3M.

• Cash, cash equivalents, and short-term investments totaled $25.1M as of June 30, 2025.

Outlook and guidance

• Expects continued growth in the core China business, with expansion into Southeast Asia markets such as Thailand and Indonesia.

• FY2026 revenue expected in the range of $4.0M to $6.0M.

• Near-term goal to accumulate 10,000 BTC by the end of 2025, with a long-term aim to be among the top three public Bitcoin treasury companies globally within three years.

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

• Anticipates JV contributions starting in the second half of 2025, with potential for additional JVs or M&A in Q4.