Aeluma (ALMU) Q1 2027 earnings summary

Executive summary

• Commercialization efforts advanced for Lynx high-speed photodetectors and Quasar quantum dot lasers targeting AI datacom; customer discussions include potential development investments and product opportunities for 2028–2032 demand.

• Revenue remained primarily tied to government R&D contracts as the business moved toward commercialization; early commercial sales orders remained small.

Financial highlights

• Q1 FY2027 revenue was $568,000, down $817,000, or 59%, YoY after completion of the first phase of a large government contract; four new government contracts partly offset the decline.

• GAAP net loss was $3.756M, or $0.19 per share, versus $1.493M, or $0.09 per share, in Q1 FY2026; adjusted net loss was $2.4M.

• Adjusted EBITDA loss was $2.742M versus $450,000 in Q1 FY2026; GAAP EBITDA loss was $4.1M.

• Operating expenses rose 61% YoY to $4.8M; operating loss was $4.248M versus $1.608M, with R&D expense of $2.525M and G&A expense of $2.274M.

• Cash and cash equivalents were $53.875M at September 30, 2026, versus $56.006M at June 30, 2026.

Outlook and guidance

• FY2027 priorities include product development, customer and manufacturing qualifications, contract delivery, manufacturing readiness, and converting qualified engagements into recurring product revenue.

• Customer-specific qualification may take 9–18 months; significant product demand and ramps are anticipated from 2028 onward.

• Continued investment is planned in engineering, materials growth, fabrication, packaging, testing, quality systems, sales, and business development.

• Current cash, operating cash generation, and potential ATM proceeds are expected to fund operations and capital expenditures for the next 12 months and beyond.