Financial Data and Key Metrics Changes - Revenue for Q1 Fiscal 2026 was $1.4 million, up from $481,000 a year ago and $1.3 million in the prior quarter [10] - GAAP net loss for the quarter was $1.5 million, or $0.09 per share, compared to a net loss of $730,000, or $0.06 per share in Q1 of last year [10] - Non-GAAP net loss was $437,000, or $0.03 per share, versus a net loss of $550,000, or $0.04 per share in the first quarter last year [11] - Cash and cash equivalents at the end of the quarter were $38.1 million, with no long-term debt [11] Business Line Data and Key Metrics Changes - The company is focusing on high-performance semiconductor photonics, including high-speed transceiver components and high-power quantum dot lasers [3][4] - A new contract with NASA was signed to leverage the scalable semiconductor platform for quantum applications [6] Market Data and Key Metrics Changes - The market for optical component technologies and AI infrastructure is projected to be several billion dollars within a few years [4] - Demand for semiconductors in U.S. markets is at an all-time high, with supply chain issues affecting traditional manufacturing processes [3] Company Strategy and Development Direction - Aeluma is transitioning to commercial-scale production of high-performance semiconductors to meet the growing demand for AI infrastructure [3] - The company aims to increase manufacturing readiness and has increased wafer fabrication levels at foundry partners nearly fivefold [7][8] - Strategic priorities include transitioning from R&D revenue to initial commercial product revenue [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for high-performance semiconductor technology in key target markets [15] - The company is focused on solidifying relationships with prospective customers and preparing for initial commercial product revenue during the fiscal year [27] Other Important Information - Aeluma completed an oversubscribed capital raise, strengthening its balance sheet and boosting cash to $38 million [6] - The company is actively recruiting to fill key roles in business development, manufacturing, and operations [8] Q&A Session Summary Question: Update on customer engagements - Management reported continued progress in defense, aerospace, and AI infrastructure engagements, with notable achievements including sample deliveries [20][21] Question: Timeline for standing up fabs - The timeline for volume production depends on specific volume and market vertical, but current capacity can support reasonable volumes in defense and aerospace [22][23] Question: Market size for transceiver components - Management highlighted growing interest in high-performance technology for higher-speed transceivers, with potential for good margins [24][25] Question: Timeline for design wins or qualifications - The goal is to achieve initial commercial product revenue during the fiscal year, with ongoing efforts to solidify customer relationships [26][28] Question: Balance sheet and cash flow position - Management believes the current cash position is sufficient to reach initial revenue, but future investments may be needed for rapid growth [29] Question: Impact of government shutdown - The government shutdown has caused some delays in contract execution, but it has not significantly impacted the company's operations [42][43] Question: Updates on fab relationships - No new fab partners were formally added, but the company has increased wafer runs at existing fabs [45]