Aeluma announced the appointment of Bouch Nassar as senior vice president of business development and product. Klamkin said Nassar brings decades of experience in semiconductor photonics and has held roles spanning sales and product leadership, including at JDS Uniphase/Lumentum, as well as leadership positions at SCD USA and Princeton Lightwave. Klamkin said the hire aligns with Aeluma’s stage of development as it receives an increasing number of requests for quotation and has begun taking sales orders.Whi ...

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2026 was $1.3 million, down from $1.6 million in Q2 fiscal 2025 and $1.4 million in Q1 fiscal 2026 [13] - GAAP net loss for the quarter was $1.9 million, or $0.11 per share, compared to a net loss of $2.9 million, or $0.24 per share in the prior year, and a net loss of $1.5 million, or $0.09 per share in the previous quarter [15] - Adjusted EBITDA loss for the quarter was $917,000, compared to a gain of $647,000 in the same period last year and a loss of $450,000 in Q1 fiscal 2026 [16] - The company closed the quarter with $38.6 million in cash and cash equivalents, an increase of $425,000 from the previous quarter [16] Business Line Data and Key Metrics Changes - Government R&D contracts were the principal source of revenue for the quarter, providing non-dilutive funding for R&D investments [14] - The company is witnessing a shift in customer conversations from interest and evaluation to pricing and planning, indicating progress in commercialization [6][12] Market Data and Key Metrics Changes - The top four hyperscalers invested over $300 billion in data center CapEx in 2025, expected to surpass $1 trillion by 2029, presenting a significant market opportunity [4] - The mobile market is preparing to adopt short-wave infrared (SWIR) sensors, with Aeluma's manufacturing platform enabling the necessary scale for mass markets [5][6] Company Strategy and Development Direction - Aeluma is focused on transitioning to commercialization and expanding its operations to scale, with a strong emphasis on the mobile, AI, and defense markets [12] - The company aims to capitalize on its progress and the growing market horizon while pursuing strategic opportunities to accelerate commercialization [12] - Aeluma's technology is positioned to provide a competitive advantage in the photonics industry, particularly in quantum photonics and SWIR applications [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing interest in Aeluma's technology and the increasing number of requests for price quotations, indicating a positive market response [18] - The company expects revenue for the full fiscal year 2026 to be in the range of $4 million to $6 million, with ongoing efforts to ramp up manufacturing readiness [17] Other Important Information - Aeluma has expanded its patent portfolio to 35 issued and pending patents, enhancing its credibility in high-growth markets [11] - The company has appointed Bouch Nessar as Senior Vice President of Business Development and Product, expected to accelerate the go-to-market strategy [7][8] Q&A Session Summary Question: What are the end markets that you're getting sales orders for? - Management indicated that sales orders are coming from multiple markets including mobile, AI, data centers, and defense, but specific customer or product information is not being disclosed at this time [21][22] Question: Is this for receiving or operations or routing or sending of photons? - The current focus is primarily on generating photons, with foundational work being done to develop a platform for integrating nonlinear materials [23] Question: Can you provide more details on the magnitude of customer engagement? - Management noted that the increase in requests for quotations is a significant milestone, and they expect this trend to grow over time [28] Question: Can you discuss the strategic opportunities for commercialization? - Aeluma is exploring various pathways to market adoption, including licensing deals and partnerships with supply chain partners [34]

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2026 was $1.3 million, down from $1.6 million in Q2 fiscal 2025 and $1.4 million in Q1 fiscal 2026 [13] - GAAP net loss for the quarter was $1.9 million, or $0.11 per share, compared to a net loss of $2.9 million, or $0.24 per share in the prior year, and a net loss of $1.5 million, or $0.09 per share in the previous quarter [15] - Adjusted EBITDA loss for the quarter was $917,000, compared to a gain of $647,000 in the same period last year and a loss of $450,000 in Q1 fiscal 2026 [16] - The company closed the quarter with $38.6 million in cash and cash equivalents, an increase of $425,000 from the previous quarter [16] Business Line Data and Key Metrics Changes - Government R&D contracts were the principal source of revenue for the quarter, providing non-dilutive funding for R&D investments [14] - The company is witnessing a shift in customer conversations from interest and evaluation to pricing and planning, indicating progress in commercialization [6] Market Data and Key Metrics Changes - The top four hyperscalers invested over $300 billion in data center CapEx in 2025, expected to surpass $1 trillion by 2029, presenting a significant market opportunity [4] - The mobile market is preparing to adopt short-wave infrared (SWIR) sensors, with Aeluma's manufacturing platform enabling the necessary scale for mass markets [5] Company Strategy and Development Direction - Aeluma is focused on three primary near-term target markets: data centers, mobile, and defense, with ongoing activities across each [5] - The company aims to capitalize on its progress and the growing market horizon while pursuing strategic opportunities to accelerate commercialization [12] - Aeluma's technology is positioned to provide scalable quantum photonic systems, with a focus on integrating highly nonlinear materials on large substrates [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum building within the company, emphasizing the importance of converting this momentum into customer programs and transitioning to commercialization [19] - The company is actively pursuing strategic government programs that can accelerate commercialization opportunities [14] Other Important Information - Aeluma has expanded its patent portfolio to 35 issued and pending patents, enhancing its competitive advantage [11] - The company has appointed Bouch Nassar as Senior Vice President of Business Development and Product, expected to accelerate the go-to-market strategy [7] Q&A Session Summary Question: What are the end markets that you're getting sales orders for? - Management indicated that sales orders are coming from multiple markets including mobile, AI, data centers, and defense, but specific customer or product information is not being disclosed at this time [22] Question: Is this for receiving or operations or routing or sending of photons? - The current work is primarily focused on generating photons, with interest in building a comprehensive platform for photon management [23] Question: Can you provide more details on the magnitude of customer engagement? - Management noted that the increase in requests for quotations is a positive sign, indicating growing interest in their technology [28] Question: Can you discuss the adoption timeline for SWIR in mobile applications? - While a specific timeline cannot be provided, management noted that the mobile industry is gearing up to adopt SWIR technology for future products [30] Question: What strategic opportunities are being pursued for commercialization? - Management is exploring various pathways to market, including licensing deals and partnerships with supply chain partners [34]

Financial Data and Key Metrics Changes - Revenue for Q2 2026 was $1.3 million, down from $1.6 million in Q2 2025 and $1.4 million in Q1 2026, primarily driven by government R&D contracts [13] - GAAP net loss for the quarter was $1.9 million, or $0.11 per share, compared to a net loss of $2.9 million, or $0.24 per share in the prior year, and a net loss of $1.5 million, or $0.09 per share in the previous quarter [14] - Adjusted EBITDA loss was $917,000, compared to a gain of $647,000 in the same period last year and a loss of $450,000 in Q1 2026 [16] - The company ended the quarter with $38.6 million in cash and cash equivalents, an increase of $425,000 from the previous quarter [16] Business Line Data and Key Metrics Changes - Government R&D contracts were the principal source of revenue, providing non-dilutive funding for R&D investments [13] - The company is witnessing a shift in customer conversations from interest to pricing and planning, indicating a transition towards commercialization [6] Market Data and Key Metrics Changes - The top four hyperscalers invested over $300 billion in data center CapEx in 2025, expected to surpass $1 trillion by 2029, presenting significant market opportunities [4] - Aeluma is targeting three primary markets: data centers, mobile, and defense, with increasing activities across all [5] Company Strategy and Development Direction - Aeluma aims to capitalize on the growing market horizon and pursue strategic opportunities to accelerate commercialization [12] - The company is focused on strengthening its technical foundation and expanding operations to scale [19] - Aeluma's technology is positioned to address AI hardware, electronic warfare, quantum, and infrared sensing, aligning with the Department of Defense's Microelectronics Commons [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum building within the company and the increasing visibility and engagement translating into opportunities [12] - The company remains focused on converting momentum into customer programs and transitioning to commercialization [19] Other Important Information - Aeluma appointed Bouch Nessar as Senior Vice President of Business Development and Product, expected to accelerate the go-to-market strategy [6] - The company expanded its patent portfolio to 35 issued and pending patents, enhancing its competitive advantage [11] Q&A Session Summary Question: What are the end markets that you're getting sales orders for? - The company is not sharing specific customer or product information but noted that initial sales orders are small in value and represent a step towards broader market adoption [21] Question: Is the quantum photonics work primarily for generating, routing, or sending photons? - The near-term focus is on generating photons, with interest in building a platform for various photon-related functions [23] Question: Can you provide more details on the magnitude of customer engagement for sales orders? - Sales orders are coming from multiple markets including mobile, AI, data centers, and defense, indicating a growing interest in Aeluma's technology [28] Question: Can you discuss the timeline for SWIR adoption in mobile applications? - The mobile industry is gearing up to adopt SWIR technology, but specific timelines cannot be commented on at this moment [31] Question: What strategic opportunities is the company pursuing for commercialization? - Aeluma is exploring various paths to market, including manufacturing partnerships and licensing, to enable market adoption across different sectors [35]

Revenue and Income - Revenue for the six months ended December 31, 2025, increased by $564 thousand, or 27%, to $2.7 million, with $2.6 million from government contracts[83] - Other income improved to $343 thousand for the six months ended December 31, 2025, compared to a loss of $3.3 million in the same period of 2024[85] - The net loss for the six months ended December 31, 2025, was $3.3 million, slightly improved from a net loss of $3.6 million in 2024[92] Operating Expenses - Operating expenses rose by $3.9 million, or 161%, to $6.3 million for the same period, primarily due to increased material purchases and higher compensation costs[84] - Non-cash stock-based compensation expense was $2.1 million for the six months ended December 31, 2025[92] - The company’s depreciation and amortization expense was $210 thousand for the six months ended December 31, 2025[92] Cash and Working Capital - As of December 31, 2025, cash, cash equivalents, and certificates of deposit totaled $38.6 million, up from $15.7 million as of June 30, 2025, largely due to net proceeds from public offerings[87] - Net working capital increased to $39.4 million as of December 31, 2025, compared to $16.6 million at June 30, 2025, driven by a $22.9 million rise in current assets[91] - Net cash used in operating activities was $1.1 million for the six months ended December 31, 2025, a decrease of 20% from $1.3 million in 2024[92] Financing Activities - The company completed two public offerings in March 2025 and September 2025, raising net proceeds of $12.6 million and $23.4 million, respectively[70] - The company received $23.4 million from a public offering, net of offering costs, during the six months ended December 31, 2025[94] - Net cash provided by financing activities surged to $24.1 million in 2025, compared to $3.1 million in 2024, marking a 668% increase[94] Operational Growth and Development - The company has a state-of-the-art R&D/manufacturing facility and has increased headcount by eight qualified personnel to support operational growth[66] - The company continues to perform under existing government contracts, including those with NASA and the U.S. Navy, which are significant revenue sources[69] - The company plans to use proceeds from offerings to support operational growth, product development, and working capital needs[89] - The company has alleviated substantial doubt about its ability to continue as a going concern following the successful completion of public offerings[88] Cash Flow and Investment - Net cash used in investing activities increased significantly to $241 thousand in 2025 from $41 thousand in 2024, representing a 488% increase[93] - The company experienced a decrease in accounts payable of $177 thousand in 2025, compared to a decrease of $134 thousand in 2024[92] Accounting and Risk - Critical accounting estimates may significantly impact the carrying value of assets and liabilities, as noted in the financial statements[95] - No market risk disclosures were applicable for the reporting period[96]

Exhibit 99.1 Klamkin concluded, "We are receiving increasing requests for price quotations and have begun taking sales orders. While these initial orders are relatively small in value, this marks an important milestone toward broader market adoption. As we move through fiscal 2026, we are intensely focused on commercialization and building long-term value." Recent Company Highlights ● Awarded NASA Contract for Quantum and RFSUNY Contract for Silicon Photonics Laser ● Recently Appointed Senior Vice President ...

Core Viewpoint - Aeluma, Inc. is making significant progress towards commercialization of its semiconductor technologies, with increasing market engagement and a growing intellectual property portfolio [2][5][10]. Financial Performance - Revenue for Q2 2026 was $1.3 million, a decrease from $1.6 million in Q2 2025 and $1.4 million in Q1 2026, primarily driven by R&D contracts [10][17]. - GAAP net loss was $1.9 million, or ($0.11) per share, compared to a net loss of $2.9 million, or ($0.24) per share, in the same period last year [10][22]. - Cash and cash equivalents totaled $38.6 million as of December 31, 2025, up from $15.7 million at June 30, 2025 [10][21]. Strategic Initiatives - The company has ramped up engagements with foundry partners and is pleased with the performance and yield of wafers being tested [2][5]. - Aeluma has expanded its intellectual property portfolio to 35 issued and pending patents, with a focus on large-scale manufacturing of high-performance semiconductors [2][6]. - The company has received new contracts, including a NASA contract for quantum technology and a contract from RFSUNY for silicon photonics laser integration [4][5]. Market Engagement - Aeluma is experiencing increased interest in its scalable semiconductor platform across various sectors, including mobile, data centers, and defense [2][5]. - The company has strengthened relationships with manufacturing partners to accelerate production readiness [5][10]. - Aeluma's visibility in the market was enhanced through participation in industry conferences, showcasing its technology and engaging with potential customers [5][6]. Team Expansion - The appointment of Bouchaib (Bouch) Nessar as Senior Vice President of Business Development and Product is aimed at accelerating the go-to-market strategy [2][5]. - The company has expanded its business development and technical teams to support growth and operational scaling [10][22].

Core Insights - Aeluma, Inc. has appointed Bouchaib Nessar as Senior Vice President of Business Development and Product to enhance its commercialization strategy in communication, sensing, and quantum markets [1][4] Company Overview - Aeluma, Inc. is a semiconductor company focused on high-performance, scalable technologies applicable in mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum sectors [6] - The company is headquartered in Goleta, California, and possesses advanced R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, and rapid prototyping [6] Leadership Background - Bouchaib Nessar has over 30 years of experience in commercializing semiconductor photonics solutions, having held significant roles at JDS Uniphase and SCD.USA, where he transformed the company into a leading supplier of infrared sensors [2][3] - His previous leadership at Princeton Lightwave involved launching lasers, quantum sensors, and biomedical detectors [3] Strategic Focus - In his new role, Nessar will focus on data center interconnects for AI infrastructure, imaging sensors for mobile and consumer electronics, and high-performance semiconductor photonics for defense and aerospace [4] - The company has recently experienced an increase in requests for pricing and quotations, indicating a positive trend towards initial sales orders [5]

Core Viewpoint - Aeluma, Inc. is set to release its financial results for the second quarter of fiscal 2026 on February 11, 2026, after market close, highlighting its ongoing operations in the semiconductor industry [1]. Company Overview - Aeluma, Inc. specializes in high-performance, scalable semiconductor technologies applicable in various sectors including mobile, AI, defense, aerospace, robotics, automotive, AR/VR, and quantum computing [4]. - The company combines compound semiconductors with scalable manufacturing processes to enable mass market microelectronics production and large-scale integration [4]. - Aeluma is headquartered in Goleta, California, and possesses advanced R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, and testing [4]. Financial Communication - Aeluma will host a conference call on February 11, 2026, at 2:00 p.m. Pacific Time to discuss its financial results and business outlook, with access available via a dedicated phone line [2]. - A live webcast of the conference call will be available on Aeluma's website, along with a replay shortly after the call concludes [3].

Core Insights - The analysis focuses on Aeluma (ALMU) and its technology, as well as its commercial evolution during 2025 and early 2026 [1] Group 1: Company Overview - Aeluma is undergoing an in-depth diligence process to understand its technology and commercial posture [1] - The company is identified as having potential inflection points, transitioning from concept to execution and commercial traction [1] Group 2: Analyst Background - Richard Prati, with nearly 40 years of experience in equity research and investing, co-founded American Technology Research and has a focus on underfollowed businesses and non-promotional management teams [1] - His investment experience includes public and private markets, emphasizing long/short equity, value, special situations, and contrarian opportunities [1]