Aeluma, Inc. (ALMU)
NASDAQ:ALMU
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Aeluma, Inc.
(NASDAQ:ALMU)
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Rating:51Neutral
Price Target:
$21.00
▲(30.27% Upside)
Action:Reiterated
Date:05/19/26
The score is held back mainly by weak financial performance (sharp TTM revenue decline, large losses, and ongoing cash burn). Offsetting factors include a strong liquidity/low-debt profile and earnings-call progress on partnerships and non-dilutive contract wins, while technicals are mixed and valuation lacks support due to negative earnings and no dividend.
Positive Factors
Strong liquidity and low leverage
Aeluma's $37.8M cash balance and lack of long-term debt provide multi-quarter runway to fund R&D, hiring and commercialization efforts without immediate refinancing. This reduces near-term solvency risk and gives management time to validate customers and scale production paths.
Negative Factors
Sharp TTM revenue decline and large losses
Aeluma's steep TTM revenue drop and deeply negative operating and net margins signal weak near-term commercial traction or timing shifts. Persistent losses undermine internal capital generation, force continued reliance on external funding, and constrain the firm's ability to scale operations sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and low leverage
Aeluma's $37.8M cash balance and lack of long-term debt provide multi-quarter runway to fund R&D, hiring and commercialization efforts without immediate refinancing. This reduces near-term solvency risk and gives management time to validate customers and scale production paths.
Read all positive factors
Aeluma, Inc. (ALMU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$383.50M
Dividend YieldN/A
Average Volume (3M)2.45M
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth43.23%
EPS Growth-34.14%
CountryUS
Employees11
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.34
Shares Outstanding18,305,334
10 Day Avg. Volume2,233,862
30 Day Avg. Volume2,446,232
Financial Highlights & Ratios
PEG Ratio1.89
Price to Book (P/B)12.04
Price to Sales (P/S)46.21
P/FCF Ratio-164.68
Enterprise Value/Market Cap0.77
Enterprise Value/Revenue56.51
Enterprise Value/Gross Profit135.44
Enterprise Value/Ebitda-49.79
Forecast
1Y Price Target
$28.00Price Target Upside73.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.15
Revenue Forecast (FY)$5.37M
Aeluma, Inc. Business Overview & Revenue Model
Company Description
Aeluma, Inc. develops optoelectronic devices for sensing and communications applications. It manufactures devices using compound semiconductor materials on diameter silicon wafers that are used to manufacture mass market microelectronics. The comp...
How the Company Makes Money
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Aeluma, Inc. Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Sep 29, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: strong technological momentum, expanding commercial interest (notably in AI datacom and SWIR), strategic partnerships and non-dilutive contract wins provide meaningful operational progress and optionality. However, near-term financials are pressured by modest revenue, GAAP losses, negative adjusted EBITDA and timing-related guidance narrowing driven by government contract delays. Customer qualification and scaled production remain future milestones. Given both tangible technical and commercial advances alongside clear financial and timing risks, the overall tone is cautiously optimistic but still early-stage.Positive Updates
Technology Traction and Differentiation
Aeluma is gaining meaningful interest for its non-indium phosphide approach (InGaAs photodiodes on large-diameter substrates and MOCVD quantum dot lasers). Management highlighted strong attention at OFC and positioning at the intersection of compound semiconductors and scalable microelectronics manufacturing.
Negative Updates
Revenue Slightly Declined and Flat Sequentially
Q3 revenue was $1.2 million, down from $1.3 million in the prior-year Q3 and $1.3 million in the prior quarter (approximately -7.7% year-over-year and -7.7% sequential). Government R&D contracts remained the principal source of revenue.
Read all updates
Q3-2026 Updates
Positive
Negative
Technology Traction and Differentiation
Aeluma is gaining meaningful interest for its non-indium phosphide approach (InGaAs photodiodes on large-diameter substrates and MOCVD quantum dot lasers). Management highlighted strong attention at OFC and positioning at the intersection of compound semiconductors and scalable microelectronics manufacturing.
Read all positive updates
Company Guidance
Aeluma updated full‑year revenue guidance to $4.2M–$4.6M (narrowed from $4.0M–$6.0M), citing delays in government contract awards and program start dates that are expected to push some revenue into fiscal 2027; Q3 revenue was $1.2M (vs. $1.3M year‑ago and prior quarter), GAAP net loss was $1.8M (‑$0.10/share), non‑GAAP net loss was $701K (‑$0.04/share), and adjusted EBITDA loss was $911K, while cash and equivalents totaled $37.8M (down $792K from the prior quarter); management noted six new non‑dilutive contracts totaling well over $5M, an ATM allocation of $50M on the existing shelf (no shares sold), and plans to increase spending and R&D as they pursue later‑stage, transition‑oriented government awards and commercial opportunities.Aeluma, Inc. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.20M | 4.67M | 919.00K | 193.34K | 0.00 | 0.00 |
| Gross Profit | 2.17M | 2.78M | 300.00K | 83.94K | 0.00 | 0.00 |
| EBITDA | -5.90M | -1.89M | -4.25M | -5.30M | -3.63M | -11.67K |
| Net Income | -6.00M | -3.02M | -4.56M | -5.38M | -3.45M | -13.47K |
Balance Sheet | ||||||
| Total Assets | 42.52M | 19.41M | 3.84M | 7.16M | 5.93M | 9.08M |
| Cash, Cash Equivalents and Short-Term Investments | 37.78M | 15.74M | 1.29M | 5.07M | 3.74M | 6.79M |
| Total Debt | 1.09M | 941.00K | 1.07M | 458.66K | 615.69K | 767.60K |
| Total Liabilities | 2.43M | 1.51M | 1.57M | 1.05M | 831.14K | 897.56K |
| Stockholders Equity | 40.09M | 17.90M | 2.28M | 6.11M | 5.10M | 8.19M |
Cash Flow | ||||||
| Free Cash Flow | -2.22M | -1.31M | -3.78M | -4.31M | -3.21M | -107.61K |
| Operating Cash Flow | -1.71M | -1.15M | -3.46M | -3.64M | -2.25M | -1.38K |
| Investing Cash Flow | -514.83K | -161.00K | -322.00K | -672.54K | -955.67K | -106.23K |
| Financing Cash Flow | 24.14M | 15.76M | -4.00K | 5.64M | 161.93K | 145.70K |
Aeluma, Inc. Technical Analysis
Positive
16.12
Price Trends
18.10
Positive
17.77
Positive
17.29
Positive
Market Momentum
1.44
Positive
52.07
Neutral
24.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALMU, the sentiment is Positive. The current price of 16.12 is below the 20-day moving average (MA) of 23.93, below the 50-day MA of 18.10, and below the 200-day MA of 17.29, indicating a neutral trend. The MACD of 1.44 indicates Positive momentum. The RSI at 52.07 is Neutral, neither overbought nor oversold. The STOCH value of 24.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALMU.
Aeluma, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $406.32M | 20.85 | 25.61% | 6.28% | 1.76% | 0.85% | |
70 Outperform | $678.57M | -171.77 | 0.42% | ― | 15.94% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $6.84B | -468.85 | -6.21% | ― | -0.14% | 25.60% | |
58 Neutral | $297.34M | -5.53 | -84.79% | ― | -40.50% | 1.62% | |
51 Neutral | $383.50M | -31.55 | -17.19% | ― | 43.23% | -34.14% | |
48 Neutral | $305.35M | -3.58 | -29.33% | ― | 11.92% | 7.07% |
* Technology Sector Average
ALMU
Aeluma, Inc.
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10.98
89.05%
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Aeluma, Inc. Corporate Events
Business Operations and StrategyProduct-Related Announcements
Aeluma Showcases Breakthrough 300mm Photonics Manufacturing Platform
Positive
May 19, 2026
Aeluma, Inc. is a semiconductor company focused on next-generation photonics, developing indium gallium arsenide (InGaAs) image sensors and high-speed photodiodes for shortwave infrared applications across mobile and consumer electronics, defense ...
Private Placements and FinancingRegulatory Filings and Compliance
Aeluma Establishes $50 Million At-The-Market Offering
Neutral
Mar 20, 2026
On March 20, 2026, Aeluma, Inc. entered into a sales agreement with Roth Capital Partners, LLC as representative of several agents to offer and sell, from time to time, up to $50 million of its common stock through at-the-market transactions on th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.