Aeluma Inc(US:ALMU)2025-11-12 22:04Financial Performance - Revenue for the three months ended September 30, 2025, increased by $904 thousand, or 187.9%, to $1.4 million, with $1.34 million from government contracts[97] - Operating expenses rose by $1.8 million, or 146.9%, to $3.0 million for the same period, primarily due to increased material purchases and higher compensation costs[98] - Net loss for the three months ended September 30, 2025, was $1.5 million, compared to a net loss of $730 thousand for the same period in 2024, reflecting a 104.3% increase in losses[97] - Cash, cash equivalents, and certificates of deposit totaled $38.1 million as of September 30, 2025, up from $15.7 million as of June 30, 2025, primarily due to net proceeds from public offerings[101] - Working capital increased to $39.5 million as of September 30, 2025, compared to $16.6 million as of June 30, 2025, driven by a $22.9 million increase in current assets[105] - Net cash provided by financing activities was $23.4 million for the three months ended September 30, 2025, compared to $3.1 million for the same period in 2024[109] - Net cash used in operating activities decreased by 12.5% to $815 thousand for the three months ended September 30, 2025, from $931 thousand in 2024[107] Funding and Contracts - Aeluma raised gross proceeds of $13.8 million from a public offering on March 26, 2025, and $25.4 million from a public offering on September 22, 2025[80][89] - Aeluma received a contract with NASA in September 2025 to develop next-generation quantum computing and sensing systems, which could accelerate commercialization efforts[68] - Aeluma's contract with the U.S. Navy in June 2025 is valued at up to $1.3 million for developing high-speed photodetectors for government and commercial applications[70] - Aeluma's September 2025 public offering included a 30-day option for underwriters to purchase an additional 255,000 shares, which was exercised in full[82] - The net proceeds from the September offering are intended for business development, scaling manufacturing operations, and general corporate purposes[84] Technology and Operations - The company operates in a 9,000 sq. ft. facility with state-of-the-art R&D and manufacturing capabilities, and has commenced a new five-year lease to support anticipated growth[65] - Aeluma's technology targets various applications including mobile, automotive, AI, defense, and quantum computing, with a focus on scalable and cost-effective semiconductor solutions[66] - The company has extensive patent protection and trade secrets related to its materials and manufacturing technology, enhancing its competitive position in the market[65] - Aeluma's technology is based on heterogeneous integration of compound semiconductor materials, enabling large-scale manufacturing suited for mass markets[87] - The company has generated revenue through various customer and government contracts, including small-volume orders and R&D projects, while continuing to expand its business development efforts[88] Future Outlook - The company intends to use net proceeds from offerings to support operational growth, product development, and general corporate purposes[103] - The company has alleviated substantial doubt about its ability to continue as a going concern for at least the next twelve months following successful public offerings[102] - The company may pursue additional financing opportunities to support long-term growth initiatives or respond to market changes[104]