8-K: Aeluma Reports Q2 2026 Results, Secures NASA Contract

Aeluma, Inc. announced its second quarter fiscal 2026 financial results, reporting $1.3 million in revenue and a GAAP net loss of $1.9 million, alongside new contract wins and strategic hires.

Summary

• Revenue for the second quarter of fiscal 2026 was $1.3 million, primarily derived from R&D contracts.
• GAAP net loss for the quarter was $1.9 million, or ($0.11) per basic and diluted share.
• Adjusted EBITDA loss for the quarter was $917 thousand.
• Cash and cash equivalents totaled $38.6 million as of December 31, 2025, a significant increase from $15.7 million at June 30, 2025.
• Aeluma was awarded a NASA contract for quantum technology and an RFSUNY contract for silicon photonics laser integration.
• Bouchaib (Bouch) Nessar was recently appointed as Senior Vice President of Business Development and Product.
• The company's intellectual property portfolio expanded to 35 issued and pending patents.
• Aeluma reaffirmed its fiscal year 2026 revenue guidance in the range of $4.0 million to $6.0 million.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive report. While operational losses increased quarter-over-quarter due to investment in growth, the company significantly bolstered its cash position through a public offering, secured key R&D contracts, expanded its IP, and made strategic hires, all pointing towards accelerated commercialization efforts.

Positives

• Cash and cash equivalents significantly increased to $38.6 million as of December 31, 2025, from $15.7 million at June 30, 2025, largely due to a public offering.
• GAAP net loss improved to $1.9 million in Q2 FY26 compared to $2.9 million in Q2 FY25.
• Secured new R&D contracts, including a NASA contract for quantum technology and an RFSUNY contract for integrating quantum dot lasers into the AIM Photonics 300mm silicon photonics platform.
• Expanded the intellectual property portfolio to 35 issued and pending patents, with a recent filing focused on large-scale manufacturing of high-performance semiconductors.
• Appointed Bouchaib Nessar as Senior Vice President of Business Development and Product to accelerate the go-to-market plan.
• Increased engagement with customers, partners, and government agencies, reflecting rising awareness and market traction across mobile, data centers, AI infrastructure, and defense.
• Admitted to the MMEC consortium, strengthening the company's position within the defense and commercial ecosystem.
• Recipient of the 2025 LEAP Award for Advanced Materials Innovation, recognizing the disruptive SWIR platform.
• Began taking initial sales orders, marking an important milestone toward broader market adoption.

Negatives

• Revenue decreased to $1.3 million in Q2 FY26 compared to $1.6 million in Q2 FY25 and $1.4 million in Q1 FY25.
• GAAP net loss increased from $1.5 million in the prior quarter (Q1 FY26) to $1.9 million in Q2 FY26, primarily due to higher salaries, stock-based compensation, and employee benefits from new hires.
• Adjusted EBITDA loss increased to $917 thousand in Q2 FY26, compared to a gain of $647 thousand in Q2 FY25 and a loss of $450 thousand in Q1 FY26, also driven by increased employee-related costs.
• Total operating expenses significantly increased to $3.35 million in Q2 FY26 from $2.99 million in Q1 FY26 and $1.22 million in Q2 FY25.

Future Outlook

Aeluma continues to expect revenue for the full fiscal year 2026 to be in the range of $4.0 million to $6.0 million. Strategic priorities for 2026 include securing three to seven new development contracts, expanding the business development, go-to-market, technical leadership, and operations teams, enhancing outsourced wafer manufacturing productivity, expanding test and validation capabilities, and driving the product roadmap in target commercial markets such as mobile, consumer electronics, photonics for AI infrastructure, and defense and aerospace.

Management Comments

• "The second quarter marked another big step forward for Aeluma as we gear up for commercialization."
• "We ramped engagements across our target markets and increased visibility at a major industry conference."
• "We are experiencing growing and sustained interest in Aeluma as our technology takes shape and market demand increases across mobile, data centers, and defense."
• "We continued to increase operations with foundry partners and are delighted with the performance, quality, and yield of wafers being tested at Aeluma’s facility."
• "Relationships with customers and partners are strengthening, and we are fortunate that Bouch Nessar, our new Senior Vice President of Business Development and Product, has joined at this pivotal time to accelerate our go-to-market plan."
• "Our IP portfolio also continues to expand, now counting 35 issued and pending patents, with our most recent application related to large-scale manufacturing of high-performance semiconductors."
• "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."

Industry Context

StockSavvy.ai notes that Aeluma operates in high-growth and strategically critical sectors, including mobile, AI infrastructure, and defense, leveraging advanced semiconductor and photonics technologies. The company's focus on expanding its intellectual property, securing government contracts (NASA, RFSUNY), and strengthening manufacturing partnerships aligns with broader industry trends emphasizing innovation, supply chain resilience, and the integration of advanced materials for next-generation computing and sensing applications. The appointment of a Senior VP for Business Development and Product signals a strategic pivot towards commercialization, a common trajectory for deep-tech companies moving from R&D to market.

Management Changes

Stakeholder Impact

• Shareholders: Experienced dilution from the public offering but benefit from a significantly strengthened cash position and strategic investments aimed at long-term value creation, despite increased short-term operational losses.
• Employees: The company is expanding its team, leading to new hires and increased salaries, stock-based compensation, and benefits.
• Customers/Partners: Relationships are strengthening, with increased engagement, new R&D contract wins, requests for price quotations, and initial sales orders, indicating growing interest and collaboration.
• Suppliers (Foundry partners): Operations with foundry partners are increasing, and relationships are strengthening to accelerate the transition to production.

Next Steps

• Focus intensely on commercialization and building long-term value through fiscal year 2026.
• Secure three to seven new development contracts to provide non-dilutive funding for R&D investments.
• Continue growth of the business development and go-to-market team, technical leadership, staff, and operations team.
• Increase outsourced wafer manufacturing productivity and expand test and validation capabilities.
• Achieve technology qualification for targeted industries and strengthen supply chain partnerships.
• Drive the product roadmap with continued progress in target commercial markets across mobile and consumer electronics, photonics for AI infrastructure, and defense and aerospace.
• Host a conference call on February 11, 2026, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss financial results and business outlook.

Key Dates

Recommendation

Aeluma is in a critical investment phase, demonstrating significant progress in securing R&D contracts, expanding its IP, and strengthening its balance sheet with a substantial capital raise. While operational losses have widened due to these growth investments and revenue saw a slight decline, the strategic initiatives, including new leadership and increased market engagement, position the company for future commercialization. The strong cash position provides a runway for these efforts, suggesting a 'hold' for investors monitoring the transition to broader market adoption and revenue growth.

Keywords

semiconductor, photonics, quantum technology, data centers, AI infrastructure, defense, R&D contracts, financial results, NASDAQ: ALMU, Q2 2026, silicon integration, intellectual property