Market Overview - U.S. stock futures are lower, with Dow futures dropping over 200 points on Friday [1] Company-Specific Movements - Bitfarms Ltd (NASDAQ:BITF) shares fell 9.5% to $4.78 in pre-market trading after announcing the pricing of upsized $500 million convertible senior notes [1] - American Battery Technology Co (NASDAQ:ABAT) shares tumbled 19.8% to $4.55 in pre-market trading, following a 37% decline on Thursday due to the termination of a Department of Energy grant [3] - HIVE Digital Technologies Ltd (NASDAQ:HIVE) shares dipped 18.2% to $4.78 in pre-market trading after a 14% decline on Thursday [3] - Standard Lithium Ltd (NYSE:SLI) shares declined 17.3% to $4.45 in pre-market trading after pricing a $130 million underwritten public offering [3] - Almonty Industries Inc (NASDAQ:ALM) slipped 16.4% to $7.11 in pre-market trading after a 12% dip on Thursday [3] - Mesoblast Ltd (NASDAQ:MESO) declined 13.7% to $15.63 in pre-market trading [3] - Jumia Technologies AG – ADR (NYSE:JMIA) shares fell 13.2% to $10.31 in pre-market trading [3] - Terawulf Inc (NASDAQ:WULF) shares fell 13.1% to $12.05 after reporting the pricing of $3.2 billion of senior secured notes [3] - Diginex Ltd (NASDAQ:DGNX) shares slipped 13.1% to $14.45 after an 18% decline on Thursday [3] - Aeluma Inc (NASDAQ:ALMU) shares fell 12.1% to $16.46 in pre-market trading [3] - Compass Diversified Holdings (NYSE:CODI) declined 11.7% to $6.60 in pre-market trading after an 8% gain on Thursday [3] - Integra Resources Corp (NYSE:ITRG) fell 11.3% to $2.89 in pre-market trading [3] - Forward Industries Inc (NASDAQ:FORD) fell 10.8% to $22.00 in pre-market trading [3] - Bruker Corp (NASDAQ:BRKR) declined 10.3% to $34.25 in pre-market trading [3] - Inter & Co Inc (NASDAQ:INTR) fell 10% to $8.04 in pre-market trading [3] - Hut 8 Corp (NASDAQ:HUT) fell 8.5% to $44.59 after a 10% dip on Thursday [3] - Bitdeer Technologies Group (NASDAQ:BTDR) fell 8.2% to $23.75 in pre-market trading [3] - CleanSpark Inc (NASDAQ:CLSK) fell 7.5% to $18.49 in pre-market trading [3] - Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) fell 5.3% to $83.96 in pre-market trading [3]

Core Viewpoint - Aeluma, Inc. successfully completed a public offering, raising approximately $25.4 million, which strengthens its financial position and supports its strategic initiatives towards commercialization [1][2]. Financial Highlights - The public offering consisted of 1,955,000 shares at a price of $13.00 per share, including 255,000 shares from underwriters' option [1]. - The gross proceeds from the offering were approximately $25.4 million before expenses [1]. - Following the offering, Aeluma's cash balance is projected to be $39.2 million as of June 30, 2025 [2]. Strategic Initiatives - The net proceeds from the offering will be utilized for expanding business development, advancing manufacturing processes, and general working capital [3]. - Aeluma's CEO highlighted the commercial potential across target markets, indicating that interest in their technology is at an all-time high [2]. Company Overview - Aeluma specializes in high-performance photonic and electronic technologies, focusing on scalable manufacturing for mass market microelectronics [5]. - The company's technology has applications in various sectors, including mobile, AI, defense, aerospace, robotics, automotive, AR/VR, and quantum [5]. - Aeluma operates advanced R&D and manufacturing capabilities for semiconductor wafer production and rapid prototyping [5].

Core Viewpoint - Aeluma, Inc. has announced a public offering of 1,700,000 shares at a price of $13.00 per share, expecting gross proceeds of approximately $22.1 million before expenses [1][2]. Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 255,000 shares at the public offering price [1]. - Craig-Hallum is the sole book-running manager, with The Benchmark Company, LLC acting as co-manager for the offering [2]. - The offering is made under a shelf registration statement filed with the SEC, which was declared effective on August 8, 2025 [3]. Group 2: Use of Proceeds - Aeluma plans to use the net proceeds for expanding business development efforts, advancing manufacturing processes, and for working capital and general business purposes [2]. Group 3: Company Overview - Aeluma specializes in high-performance photonic and electronic technologies, combining compound semiconductors with scalable manufacturing for mass market microelectronics [5]. - The company's technology has applications in various sectors including mobile, AI, defense, aerospace, robotics, automotive, AR/VR, and quantum [5]. - Aeluma operates advanced R&D and manufacturing capabilities for semiconductor wafer production and quick-turn chip fabrication [5].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - 89bio, Inc. (ETNB) increased by 83% to $14.84 [3] - Aptevo Therapeutics Inc. (APVO) rose by 75% to $2.47 [3] - Psyence Biomedical Ltd. (PBM) saw a 29% increase to $4.82 [3] - Beam Global (BEEM) gained 27% reaching $3.23 [3] - MicroAlgo Inc. (MLGO) was up 14% at $13.06 [3] - Akero Therapeutics, Inc. (AKRO) increased by 12% to $47.50 [3] - Hyperion DeFi, Inc. (HYPD) rose by 11% to $13.69 [3] - Sonnet BioTherapeutics Holdings, Inc. (SONN) increased by 11% to $7.85 [3] - FuelCell Energy, Inc. (FCEL) was up 9% at $8.34 [3] - Robo.ai Inc. (AIIO) gained 6% to $2.05 [3] Premarket Losers - Presidio Property Trust, Inc. (SQFT) decreased by 14% to $7.58 [4] - Aeluma, Inc. (ALMU) fell by 10% to $15.18 [4] - FGI Industries Ltd. (FGI) dropped 10% to $7.65 [4] - Lazydays Holdings, Inc. (GORV) was down 9% at $2.26 [4] - StableX Technologies, Inc. (SBLX) decreased by 8% to $5.40 [4] - Artelo Biosciences, Inc. (ARTL) fell by 8% to $4.48 [4] - SciSparc Ltd. (SPRC) decreased by 8% to $4.10 [4] - Cracker Barrel Old Country Store, Inc. (CBRL) was down 7% at $45.75 [4] - Columbus Circle Capital Corp I (BRR) fell by 7% to $9.42 [4] - Visionary Holdings Inc. (GV) decreased by 7% to $2.58 [4]

Group 1 - The article emphasizes the importance of research-driven insights for retail investors [1] - It highlights the potential for savings on subscription fees for investment services [1] - The author expresses a personal interest in initiating a long position in ALMU within the next 72 hours [1] Group 2 - The article does not provide specific investment recommendations or advice [2] - It clarifies that past performance is not indicative of future results [2] - The authors of the articles may not be licensed or certified by any regulatory body [2]

Core Viewpoint - Aeluma, Inc. plans to conduct an underwritten public offering of its common stock, with a potential additional 15% of shares available for purchase by the underwriter [1][2]. Group 1: Offering Details - The offering is subject to market conditions and there is no assurance regarding its completion or the final terms [1]. - Craig-Hallum is the sole book-running manager for the offering [2]. - Aeluma will file a preliminary prospectus supplement with the SEC detailing the terms of the offering [4]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for business development, advancing manufacturing processes, and general working capital [2]. Group 3: Company Overview - Aeluma specializes in high-performance photonic and electronic technologies, combining compound semiconductors with scalable manufacturing for mass market microelectronics [5]. - The company's technology has applications in various sectors including mobile, AI, defense, aerospace, robotics, automotive, AR/VR, and quantum [5]. - Aeluma is headquartered in Goleta, California, and operates advanced R&D and manufacturing capabilities for semiconductor production [5].

Core Viewpoint - Aeluma, Inc. (NASDAQ: ALMU) is rated as a buy due to significant contracts with NASA, the Department of Energy (DOE), and the US Navy, which are expected to drive revenue growth in FY2026 [1] Group 1: Company Overview - Aeluma, Inc. has secured contracts with key government agencies, indicating strong potential for future revenue [1] - The company's focus on technology, innovation, and sustainability positions it well within the investment landscape [1] Group 2: Analyst Background - The analyst employs a "First Principles" approach to investment analysis, breaking down complex problems to identify overlooked opportunities [1] - The analyst has a strong background in investment, private equity, and venture capital, with a proven track record of delivering strong returns [1]

Revenue and Contracts - Revenue for the fiscal year ended June 30, 2025, increased by $3.7 million to $4.7 million, with $4.4 million from government contracts and $266 thousand from commercial product and service contracts [225]. - For the fiscal year ended June 30, 2025, revenue was $4.7 million, a significant increase from $919 thousand in 2024, representing a growth of 408% [252]. - The company was awarded six government contracts totaling $13.8 million for the provision of services and delivery of materials during the fiscal year ended June 30, 2025 [278]. - A contract with NASA was received in August 2024 to develop quantum dot photonic integrated circuits for next-generation space applications [200]. - A contract with the U.S. Department of Energy was awarded in April 2025 to develop commercially viable, low-cost shortwave infrared photodetectors [202]. - As of June 30, 2025, total remaining performance obligations under all obligated government contracts amounted to $10.2 million [280]. Financial Performance - The net loss for the fiscal year ended June 30, 2025, was $3.0 million, a reduction of 33.8% compared to a net loss of $4.6 million in the previous year [225]. - The company reported a net loss of $3.0 million for the fiscal year ended June 30, 2025, an improvement from a net loss of $4.6 million in 2024 [252]. - The net loss for the year ended June 30, 2025, was $3.022 million, compared to a net loss of $4.562 million in 2024, indicating an improvement of 34% [252]. - The company’s accumulated deficit increased to $16.646 million in 2025 from $13.624 million in 2024, reflecting a deterioration of 22% [254]. - The company has a limited operating history and continues to face risks typical of early-stage companies, despite alleviating substantial doubt about its ability to continue as a going concern [216][230]. Cash and Assets - Cash, cash equivalents, and certificates of deposit totaled $15.7 million as of June 30, 2025, compared to $1.3 million as of June 30, 2024, largely due to net proceeds from a public offering [229]. - Total current assets rose to $17.3 million as of June 30, 2025, up from $1.4 million in 2024, driven by a $14.4 million increase in cash and cash equivalents [233]. - The company had total assets of $19.4 million as of June 30, 2025, compared to $3.8 million in 2024 [250]. - As of June 30, 2025, working capital increased to $16.6 million from $766 thousand as of June 30, 2024, primarily due to a $15.9 million increase in current assets [233]. Financing Activities - The company completed a public offering on March 26, 2025, raising gross proceeds of $13.8 million, with net proceeds of $12.6 million after underwriting discounts and offering expenses [211]. - Net cash provided by financing activities was $15.8 million for the fiscal year ended June 30, 2025, compared to a net cash used of $4 thousand in 2024 [236]. - The Company issued convertible promissory notes totaling $3.1 million, convertible into common stock at a price not lower than 85% of the 5-day VWAP, with a ceiling price of $3.50 per share [291]. - The Company issued 898,573 shares of Common Stock in exchange for $3.1 million in outstanding principal under convertible notes, resulting in no further obligations under the converted notes [294]. - The public offering on March 26, 2025, resulted in gross proceeds of $13.8 million, with net proceeds of $12.6 million intended for business development and scaling manufacturing operations [302]. Operating Expenses - Operating expenses rose by $1.3 million, or 24.2%, to $6.8 million for the fiscal year ended June 30, 2025, primarily due to increased material purchases and higher compensation costs [226]. - Operating expenses for 2025 totaled $6.807 million, up from $5.482 million in 2024, reflecting an increase of 24% [252]. - Stock-based compensation expense for the fiscal year ended June 30, 2025, was $1.893 million, up from $732 thousand in the previous year [256]. - Research and development expenses decreased to $1.295 million in 2025 from $2.507 million in 2024, a reduction of 48% [252]. Stock and Equity - Stockholders' equity increased to $17.9 million as of June 30, 2025, from $2.3 million in 2024, reflecting a significant increase in additional paid-in capital [250]. - The Company has authorized a total of 50 million shares of common stock and 10 million shares of preferred stock, with no preferred shares issued as of June 30, 2025 [296]. - The Company reported a total of 15,864,630 shares outstanding as of June 30, 2025, an increase from 12,178,424 shares in 2024, representing a growth of 30% [254]. - The Company granted stock options of 78,000 to consultants and 723,354 to employees and board members for the fiscal year ended June 30, 2025 [307]. - The Company issued warrants to purchase up to 131,427 shares at an exercise price of $6.04 per share in connection with a public offering completed on March 26, 2025 [312]. Future Outlook and Strategy - The company aims to manufacture high-performance semiconductor technologies that scale for mass markets, focusing on R&D and partnerships with fabrication foundries [215]. - The company plans to use net proceeds from the Offering to support operational growth and invest in product development [231]. - The company may pursue additional financing opportunities to support long-term growth initiatives [232]. - The Company has net operating loss carryforwards that may offset future taxable income, with a valuation allowance due to realization uncertainty [285]. - The Company is currently evaluating the impact of ASU No. 2023-09 on income tax disclosures, effective for fiscal years beginning after December 15, 2024 [289].

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Management Commentary](index=1&type=section&id=Management%20Commentary) Aeluma's CEO highlighted significant FY2025 momentum and strategic positioning for substantial FY2026 progress - Aeluma built momentum in **FY2025** with increased manufacturing readiness, commercialization traction, and elevated market visibility after its **Nasdaq uplist**[2](index=2&type=chunk) - The company's semiconductor technology addresses critical needs in **AI infrastructure, defense and aerospace, mobile and consumer electronics, and quantum computing**[2](index=2&type=chunk) - **Fiscal 2026** is expected to be a year of significant progress in executing go-to-market strategy and creating long-term value[2](index=2&type=chunk) [Recent Company Highlights](index=1&type=section&id=Recent%20Company%20Highlights) Aeluma achieved key FY2025 milestones, including R&D contract wins, a manufacturing breakthrough, and a strong financial position - Secured **six R&D contracts** in **fiscal year 2025**, including two in the fourth quarter[3](index=3&type=chunk) - Key contract wins include **NASA** for quantum computing, **U.S. Navy** for submarine imaging sensors and optical interconnects, and **Department of Energy** for photodetector sensors[3](index=3&type=chunk) - Unveiled a **manufacturing breakthrough** in collaboration with Thorlabs, applicable to quantum computing and communication systems[3](index=3&type=chunk) - Closed FY2025 with a strong financial position: **$15.7 million in cash** and **no debt**[3](index=3&type=chunk) - Added to the **Russell 3000 Index** (effective June 30, 2025) and the **MSCI Global Micro Cap Index** (effective August 26, 2025)[3](index=3&type=chunk) - Appointed **Christopher Stewart as CFO**, effective August 4, 2025, bringing over 20 years of financial leadership experience[3](index=3&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) [Fiscal Q4 2025 Financial Results](index=2&type=section&id=Fiscal%20Q4%202025%20Financial%20Results) Aeluma reported significant Q4 2025 revenue growth from R&D contracts, with improved GAAP net loss and Adjusted EBITDA loss | Metric | Q4 2025 (in thousands) | Q4 2024 (in thousands) | Q3 2025 (in thousands) | | :------------------- | :--------------------- | :--------------------- | :--------------------- | | Revenue | $1,300 | $279 | $1,300 | | GAAP Net Loss | $859 | $988 | ($1,500 income) | | Adjusted EBITDA Loss | $113 | $718 | ($109 gain) | - Revenue in **Q4 2025** was primarily from **R&D contracts**[7](index=7&type=chunk) - GAAP net income decreased from the prior quarter primarily due to a **$2.6 million non-cash gain** in fair value of derivative liabilities recorded in **Q3 2025**[7](index=7&type=chunk) [Full Fiscal Year 2025 Financial Results](index=2&type=section&id=Full%20Fiscal%20Year%202025%20Financial%20Results) Aeluma achieved substantial FY2025 revenue growth, improved GAAP net loss and Adjusted EBITDA, and ended with strong cash | Metric | FY 2025 (in thousands) | FY 2024 (in thousands) | | :------------------- | :--------------------- | :--------------------- | | Full Year Revenue | $4,700 | $919 | | GAAP Net Loss | $3,000 | $4,600 | | Adjusted EBITDA | $186 | ($3,500 loss) | - **2025 revenue** was primarily from **R&D contracts**[7](index=7&type=chunk) - **GAAP and non-GAAP net loss**, and **adjusted EBITDA** all improved year over year primarily due to **increased revenue from R&D contracts**[7](index=7&type=chunk) - Cash and cash equivalents totaled **$15.7 million** at **June 30, 2025**, compared to **$1.3 million** as of **June 30, 2024**[7](index=7&type=chunk) [Outlook and Strategic Priorities](index=2&type=section&id=Outlook%20and%20Strategic%20Priorities) [Fiscal Year 2026 Guidance](index=2&type=section&id=Fiscal%20Year%202026%20Guidance) Aeluma provided its revenue guidance for fiscal year 2026, projecting continued growth - Aeluma expects revenue for the full fiscal year 2026 to be in the range of **$4.0 million to $6.0 million**[6](index=6&type=chunk) [Strategic Priorities for FY2026](index=2&type=section&id=Strategic%20Priorities%20for%20FY2026) Aeluma's FY2026 strategic priorities focus on new contracts, team expansion, manufacturing, and go-to-market traction - New Contract Wins: Target **three to seven new development contracts** to provide non-dilutive funding for R&D and grow partnership opportunities[7](index=7&type=chunk) - Team Expansion: Addition of **business development and go-to-market teams**, expanded **technical leadership and staff**, and an expansion of **operations team**[7](index=7&type=chunk) - Enhanced Manufacturing Readiness: Focus on higher levels of **outsourced wafer manufacturing productivity**, expanded **test and validation capabilities**, **technology qualification** for targeted industries, and expanded **supply chain partnerships**[7](index=7&type=chunk) - Go-to-Market Traction: Continued progress on opportunities in **targeted commercial markets** and increasing the number of **customer engagements** in the pipeline[7](index=7&type=chunk) [Note about Non-GAAP Financial Measures](index=3&type=section&id=Note%20about%20Non-GAAP%20Financial%20Measures) [Non-GAAP Financial Measures Explanation](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20Explanation) This section clarifies non-GAAP financial measures for supplemental investor insight into performance and core operations - Non-GAAP financial measures are presented as **supplemental information** to management and investors, **not as a substitute for GAAP**[8](index=8&type=chunk) - Non-GAAP net income (loss) excludes **stock-based compensation, amortization of discount on convertible notes, and changes in fair value of derivative liabilities**[12](index=12&type=chunk) - Adjusted EBITDA is defined as **non-GAAP net income (loss) plus depreciation and amortization expenses, less interest income**[12](index=12&type=chunk) - A **reconciliation** between GAAP and non-GAAP financial results is provided in the financial statements portion of the press release[9](index=9&type=chunk) [Company Information](index=3&type=section&id=Company%20Information) [About Aeluma, Inc.](index=3&type=section&id=About%20Aeluma%2C%20Inc.) Aeluma, Inc. is a transformative semiconductor company specializing in high-performance photonic and electronic technologies - Aeluma is a **transformative semiconductor company** specializing in **high-performance photonic and electronic technologies** that scale[11](index=11&type=chunk) - The company's **proprietary platform** combines **compound semiconductors** with **scalable manufacturing** for mass market microelectronics, enabling **volume production** and **large-scale integration**[11](index=11&type=chunk) - Applications for Aeluma's technology include **mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum**[11](index=11&type=chunk) - Headquartered in **Goleta, California**, Aeluma operates state-of-the-art **R&D and manufacturing capabilities** and partners with **production-scale fabrication foundries**[11](index=11&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section cautions that non-historical statements are forward-looking, subject to risks, and actual results may differ - All statements not historical are **forward-looking**, based on current expectations, estimates, and projections[10](index=10&type=chunk) - Forward-looking statements involve **known and unknown risks, uncertainties, and assumptions** that are difficult or impossible to predict[10](index=10&type=chunk) - **Actual results may differ materially** from those in forward-looking statements due to various factors, including those described in SEC filings[10](index=10&type=chunk) - The Company undertakes **no obligation to revise or update** information in this release to reflect future events or circumstances[10](index=10&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) This section provides contact details for Aeluma, Inc. and its investor relations team - Company Contact: **Aeluma, Inc.**, **(805) 351-2707**, **info@aeluma.com**[12](index=12&type=chunk) - Investor Contact: **Financial Profiles, Inc.**, **Tony Rossi (310) 622-8221**, **Jeff Haas (310) 622-8240**, **ir@aeluma.com**[12](index=12&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) The Consolidated Balance Sheets show Aeluma's FY2025 financial position, with significant increases in total assets and equity | ($ in thousands) | June 30, 2025 | June 30, 2024 | | :--------------------------------- | :------------ | :------------ | | Cash and cash equivalents | $3,628 | $1,291 | | Certificate of deposit | $12,112 | - | | Total current assets | $17,335 | $1,393 | | Total assets | $19,406 | $3,844 | | Total liabilities | $1,508 | $1,568 | | Total stockholders' equity | $17,898 | $2,276 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) The Consolidated Statements of Operations show Aeluma's financial performance for Q4 and FY2025, with substantial revenue growth and reduced net loss | ($ in thousands, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Twelve Months Ended June 30, 2025 | Twelve Months Ended June 30, 2024 | | :-------------------------------------- | :------------------------------- | :------------------------------- | :-------------------------------- | :-------------------------------- | | Revenue | $1,317 | $279 | $4,665 | $919 | | Loss from operations | $(969) | $(989) | $(2,142) | $(4,563) | | Net income (loss) | $(859) | $(988) | $(3,022) | $(4,562) | | Net income (loss) per share: Basic | $(0.05) | $(0.08) | $(0.23) | $(0.37) | [Reconciliation of GAAP and Non-GAAP Financial Measures](index=6&type=section&id=Reconciliation%20of%20GAAP%20and%20Non-GAAP%20Financial%20Measures) This reconciliation details adjustments from GAAP net income (loss) to Non-GAAP net income (loss) and Adjusted EBITDA | ($ in thousands, except per share data) | Twelve Months Ended June 30, 2025 | Twelve Months Ended June 30, 2024 | | :-------------------------------------- | :-------------------------------- | :-------------------------------- | | GAAP net income (loss) | $(3,022) | $(4,562) | | Total adjustments to GAAP net income (loss) | $2,906 | $765 | | Non-GAAP net income (loss) | $(116) | $(3,797) | | Adjusted EBITDA | $186 | $(3,487) | - Key non-GAAP adjustments include **stock-based compensation, amortization of discount on convertible notes, and changes in fair value of derivative liabilities**[19](index=19&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The Consolidated Statements of Cash Flows show a significant FY2025 increase in cash, driven by financing activities | ($ in thousands) | Twelve Months Ended June 30, 2025 | Twelve Months Ended June 30, 2024 | | :-------------------------------------- | :-------------------------------- | :-------------------------------- | | Net cash used in operating activities | $(1,148) | $(3,455) | | Net cash used in investing activities | $(161) | $(322) | | Net cash provided by (used in) financing activities | $15,758 | $(4) | | Net change in cash and cash equivalents, and certificate of deposit | $14,449 | $(3,781) | | Cash and cash equivalents, and certificate of deposit, end of period | $15,740 | $1,291 | - Financing activities provided significant cash, including **$3,145 thousand from convertible notes issuance** and **$12,588 thousand from a public offering**[22](index=22&type=chunk)

Core Insights - Aeluma, Inc. reported significant growth in revenue and secured multiple new contracts, indicating strong momentum in the semiconductor industry [1][2][6]. Financial Performance - Fiscal Q4 2025 revenue reached $1.3 million, a substantial increase from $279 thousand in Q4 2024, with revenue primarily derived from R&D contracts [4][6]. - Full year 2025 revenue totaled $4.7 million, compared to $919 thousand in the previous year, showcasing a strong year-over-year growth [5][6]. - The company closed FY2025 with a GAAP net loss of $3.0 million, an improvement from a net loss of $4.6 million in FY2024 [5][6]. New Contracts and Partnerships - Aeluma secured six R&D contracts in FY2025, including significant contracts with NASA, the U.S. Navy, and the Department of Energy, focusing on advanced technologies for quantum computing and defense applications [6][2]. - The company announced a manufacturing breakthrough in collaboration with Thorlabs, enhancing its capabilities in quantum computing and communication systems [6]. Strategic Outlook - For FY2026, Aeluma anticipates revenue between $4.0 million and $6.0 million, reflecting continued growth and market expansion [7]. - The company aims to enhance manufacturing readiness, expand its team, and increase customer engagements in targeted commercial markets [10][12]. Market Position and Visibility - Aeluma's technology is positioned to meet critical needs in fast-growing sectors such as AI infrastructure, defense, aerospace, and quantum computing [2][6]. - The company was added to the Russell 3000 Index and the MSCI Global Micro Cap Index, enhancing its market visibility [6].