Aeluma (ALMU) Q3 2026 earnings summary

Executive summary

• Accelerated engagement in the AI datacom market, driven by surging data center CapEx and supply chain constraints for photonics components.

• Proprietary technology leverages non-indium phosphide substrates, enabling scalable, cost-effective photonics manufacturing.

• Strategic partnerships and new leadership hires are strengthening operations and commercial pipeline execution.

• Customer engagements have grown to approximately 30, with a focus on high-quality, clearly defined opportunities.

• Secured over $4 million in contracts for quantum dot lasers and materials, including a NASA award for integrated quantum dot lasers.

Financial highlights

• Q3 2026 revenue was $1.2 million, down from $1.3 million year-over-year and sequentially.

• GAAP net loss was $1.8 million ($0.10/share), compared to net income of $1.5 million ($0.12/share) last year, due to a prior one-time gain.

• Non-GAAP net loss was $701,000 ($0.04/share), versus breakeven last year.

• Adjusted EBITDA loss was $911,000, compared to a gain of $109,000 in Q3 last year.

• Cash and equivalents totaled $37.8 million with no long-term debt.

Outlook and guidance

• Full-year revenue guidance narrowed to $4.2–$4.6 million, down from $4–$6 million, due to government contract delays.

• Most revenue impact is timing-related, with delayed contracts expected to contribute in fiscal 2027.

• Increased R&D and hiring planned to capitalize on commercial pipeline opportunities.

• Strategic priorities focus on manufacturing readiness, commercialization, and expanding go-to-market efforts.

• Management continues to monitor capital markets and may pursue additional financing as needed.